This clause grants the party in favor which it was included certain privileges that can be exercised in the case of the control changes.
If the conditions described in a specific case of a change of control are met, the authorized entity will be able to exercise its rights. It may be - for example - immediate termination of cooperation, without meeting other contractual provisions or if the clause was included in the loan or credit agreement, the eligible creditor will be able - for example - to demand early repayment of the liability. The change of control itself should be defined in a specific contract, as it may refer to various events - e.g. a change in the ownership structure, a change in the management board of a given entity.
This clause is a positive development because it protects the interests of entities by enabling them to take additional actions in the event of significant changes in the person of their current contractor.