There are two categories of information that are presented in disclosure plans: lists and exceptions. A “list” calendar occurs when the seller requires the buyer to have a complete and complete record of certain aspects of his business. A representative may indicate, for example. B, that all of the seller`s registered intellectual property is mentioned in the disclosure schedule. A “list” calendar is important to buyers because it ensures that they have a complete picture of certain aspects of the buyer`s activity and very often they will ask for additional representations for items on this list (for example. B, the seller holds the intellectual property listed on this calendar freely and without any pledge). The general calendars of the “lists” include lists of shareholders and subsidiaries, personnel performance plans, registered intellectual property, authorizations, insurance plans, debt and leased and owned real estate. The definition of a disclosure designation in a dollar amount (or a fixed period – that is, only actions that have taken place in the last three years) serves as a clear test of relevance. The parties agree that anything above this dollar amount or within that time frame is essential and should be disclosed on the calendar. Another standard, less clear, are items that occur outside the normal activity of the seller.
Although less clear, in general, advertising designers have a good sense of disclosure of items that are not ordinary and have no difficult time to decide whether something should be on the calendar. Information plans are a common component of a merger sale agreement (whether it is a share purchase agreement, an asset repurchase agreement or a merger agreement). Disclosure plans contain factual information (or exceptions to certain statements) regarding insurance and warranties.  As such, disclosure plans are an integral part of the seller`s insurance and guarantees and have a direct impact on the extent and liability of the seller in connection with these insurances and guarantees. The information contained in the information plans is generally categorized into two distinct categories: when an update was authorized or necessary, the studies also examined whether: (1) the information eligible for the update was limited to post-signature information; and (2) the buyer`s right to compensation was limited with respect to the updated information.  In practice, it is likely that the seller will be able to conduct such an update unilaterally if an agreement on updating the disclosure plan is silent, which is likely that he would not be able to unilaterally make such an update (the same result as a ban on updates). A very frequent and very important calendar of “exception” is the non-reaction calendar. A non-infringement schedule identifies potential obstacles to reaching .B agreement, such as the necessary consents of the government or shareholders, and identifies the negative business consequences resulting from the transaction, such as. B the resulting termination rights in the seller`s customer or supplier contracts.  ABA studies 2017, 2015, 2013 and 2011 examined these variables.