Change of Recommendation Covenant
type: Class
alternative label: 建议变更契约
subclass of: R8S6XHMUuU5cg5gdDri7LuL
definition: A Change of Recommendation Covenant is a provision in a deal protection agreement that requires a target company's board to recommend a new offer to its shareholders, even if it is less favorable than a previous offer, in exchange for certain protections for the acquirer.