clause de retrait par devoir fiducial

OBS: devoir fiducial est l'équivalent normalisé par le Comité de normalisation, Promotion de l'accès à la justice dans les deux langues officielles (PAJLO) pour rendre le terme «fiduciary duty».

CONT: The deal protection measures are often softened by fiduciary-out clauses that provide the target corporations with an escape hatch. The provision protects the directors of a target company from having to choose between violating their fiduciary obligations to shareholders and violating a purchase agreement. Under the language of a fiduciary out provision, the directors are excused from any action that would constitute a violation of their duty.