Interplay of MAC, Force Majeure, Change in Law and Frustration

In previous alerts, we have dealt with the interplay between force majeure and frustration, five situations of force majeure and frustration, force majeure and change in law clauses, and what happens when force majeure ends – or does not. To complete the picture, we now add material adverse change (MAC) clauses to the mix and provide a decision tree to navigate the labyrinth.