Kapan\u0131\u015f<\/a> \u00d6n Ko\u015fullar\u0131 (Conditions Precedent, CP’ler), Kapan\u0131\u015f Ko\u015fullar\u0131 olarak da adland\u0131r\u0131l\u0131r, bir taraf\u0131n bir i\u015flemi tamamlama y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcnden \u00f6nce ger\u00e7ekle\u015fmesi gereken belirli olaylar veya ko\u015fullard\u0131r (veya do\u011fru olmas\u0131 gereken belirli olgular). CP’ler \u00e7e\u015fitli kapan\u0131\u015f \u00f6ncesi olaylar\u0131n riskini payla\u015ft\u0131r\u0131r\u2014bir CP kar\u015f\u0131lanmazsa, ilgili taraf genellikle anla\u015fmadan ihlal olmadan \u00e7ekilme hakk\u0131na sahiptir.<\/p>\n M&A CP’leri tipik olarak kategorilere ayr\u0131l\u0131r: d\u00fczenleyici CP’ler (rekabet izni\u2014ABD’de HSR, AB birle\u015fme<\/a> izni, sekt\u00f6rel onaylar; yabanc\u0131 yat\u0131r\u0131m incelemesi\u2014CFIUS, AB \u00fcye devlet FDI taramas\u0131, T\u00fcrk yabanc\u0131 sermaye otoriteleri), \u00fc\u00e7\u00fcnc\u00fc taraf onaylar\u0131 (anahtar m\u00fc\u015fteri s\u00f6zle\u015fmesi kontrol de\u011fi\u015fikli\u011fi onaylar\u0131, kredi veren onaylar\u0131, lisans devirleri), bring-down ko\u015fullar\u0131 (kapan\u0131\u015fta beyanlar\u0131n do\u011frulu\u011fu, taahh\u00fctlere uyum), MAC<\/a> ko\u015fulu (imzalamadan sonra MAC<\/a> yok), kurumsal onaylar (halka a\u00e7\u0131k \u015firket hedefleri i\u00e7in pay sahibi oyu, kurul onaylar\u0131) ve anla\u015fmaya \u00f6zg\u00fc ko\u015fullar (al\u0131c\u0131 i\u00e7in finansman ko\u015fulu, bor\u00e7 yeniden finansman\u0131, imzalanan belirli s\u00f6zle\u015fmeler).<\/p>\n Kapan\u0131\u015f \u00d6n Ko\u015fullar\u0131 kapan\u0131\u015ftan \u00f6nce kar\u015f\u0131lanmal\u0131d\u0131r\u2014kar\u015f\u0131lanmazsa, kapan\u0131\u015f ger\u00e7ekle\u015fmez. Kapan\u0131\u015f Sonras\u0131 Ko\u015fullar kapan\u0131\u015ftan sonra kar\u015f\u0131lanmas\u0131 gereken y\u00fck\u00fcml\u00fcl\u00fcklerdir\u2014kar\u015f\u0131lanmazsa, anla\u015fma geri al\u0131nabilir veya taraf di\u011fer sonu\u00e7larla kar\u015f\u0131la\u015f\u0131r. \u00c7o\u011fu M&A anla\u015fmas\u0131 Kapan\u0131\u015f \u00d6n Ko\u015fullar\u0131n\u0131 yo\u011fun olarak kullan\u0131r ancak nadiren Kapan\u0131\u015f Sonras\u0131 Ko\u015fullar kullan\u0131r, kapan\u0131\u015f sonras\u0131 y\u00fck\u00fcml\u00fcl\u00fckleri taahh\u00fctler ve tazminat<\/a> h\u00fck\u00fcmleri arac\u0131l\u0131\u011f\u0131yla ele almay\u0131 tercih eder.<\/p>\n \u0130yi haz\u0131rlanm\u0131\u015f CP’ler \u015funlar\u0131 i\u00e7erir: kar\u015f\u0131lama i\u00e7in belirli, objektif testler (\u00f6znel yarg\u0131dan ka\u00e7\u0131nma), CP kar\u015f\u0131lamas\u0131n\u0131 kolayla\u015ft\u0131rmak i\u00e7in her bir tarafa makul \u00e7aba y\u00fck\u00fcml\u00fcl\u00fckleri, kar\u015f\u0131l\u0131kl\u0131 veya tek tarafl\u0131 do\u011fa (hangi taraf\u0131n feragat edebilece\u011fi), CP’lerin kar\u015f\u0131lanmas\u0131 gereken veya anla\u015fman\u0131n sona erdirilebilece\u011fi d\u0131\u015f tarih (longstop date) ve CP’ler kar\u015f\u0131lanmazsa belirli \u00e7areler ve sona erdirme haklar\u0131. T\u00fcrk M&A anla\u015fmalar\u0131 rutin olarak Rekabet Kurulu<\/a> izni ve sekt\u00f6re \u00f6zg\u00fc d\u00fczenleyici onaylar (BDDK, SPK, Enerji Piyasas\u0131 D\u00fczenleme Kurumu) etraf\u0131nda CP’leri i\u00e7erir.<\/p>\n","protected":false},"excerpt":{"rendered":" TLDR: Kapan\u0131\u015f \u00d6n Ko\u015fullar\u0131 (Conditions Precedent, CP’ler), Kapan\u0131\u015f Ko\u015fullar\u0131 olarak da adland\u0131r\u0131l\u0131r, bir taraf\u0131n bir i\u015flemi tamamlama y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcnden \u00f6nce ger\u00e7ekle\u015fmesi gereken belirli olaylar veya ko\u015fullard\u0131r (veya do\u011fru olmas\u0131 gereken belirli olgular). CP’ler \u00e7e\u015fitli kapan\u0131\u015f \u00f6ncesi olaylar\u0131n riskini payla\u015ft\u0131r\u0131r\u2014bir CP kar\u015f\u0131lanmazsa, ilgili taraf genellikle anla\u015fmadan ihlal olmadan \u00e7ekilme hakk\u0131na sahiptir. Kapan\u0131\u015f \u00d6n Ko\u015fullar\u0131 Kategorileri M&A CP’leri […]<\/p>\n","protected":false},"author":4,"featured_media":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":{"footnotes":""},"categories":[],"class_list":["post-12580","term","type-term","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/term\/12580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/term"}],"about":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/types\/term"}],"author":[{"embeddable":true,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/comments?post=12580"}],"version-history":[{"count":1,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/term\/12580\/revisions"}],"predecessor-version":[{"id":12908,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/term\/12580\/revisions\/12908"}],"wp:attachment":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/media?parent=12580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/categories?post=12580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Kapan\u0131\u015f \u00d6n Ko\u015fullar\u0131 Kategorileri<\/h3>\n
CP’ler vs. Kapan\u0131\u015f Sonras\u0131 Ko\u015fullar<\/h3>\n
CP Haz\u0131rlama ve Kar\u015f\u0131lama<\/h3>\n