Model Standstill/Tolling Agreement

By: Jonathan C. Lipson, Norman M. Powell

This model standstill and tolling agreement, developed in response to the COVID-19 pandemic, is intended to be a template for businesses facing problems of performance under contracts, including payment or collection. It contains the basic elements that such an agreement should include, and so provides a balanced way for businesses to place a legal “freeze” on their commercial relationship while the economy stabilizes. It does not speak to all issues that contract parties might face, but is intended to be a starting point that parties can use efficiently, preferably

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