Common use of Seven Day Revocation Period Clause in Contracts

Seven Day Revocation Period. Executive has a period of seven (7) calendar days following the execution and delivery to the Bank of this Waiver and Release (the “Revocation Period”) during which Executive may revoke this Waiver and Release by delivering timely notice of revocation to the Bank. To be effective, any such revocation must be in writing, signed by the Executive and received by the Bank prior to 5:00 p.m. (Eastern) on the last day of the Revocation Period at the following address: Union Bank XX Xxx 000 Xxxxxxxxxxx, XX 00000 Attn: Chair, Board of Directors provided, however, that if the seventh calendar day is not a business day, the Revocation Period shall extend to 5:00 p.m. (Eastern) on the next business day. Once the Revocation Period has expired, this Waiver and Release shall become effective and irrevocable. The Executive understands that if he/she revokes this Waiver and Release during the seven day Revocation Period, it will be null and void in its entirety, and Executive shall not be entitled to any payment under the CIC Agreement.

Seven Day Revocation Period. Executive has a period of seven (7) calendar days following the execution and delivery to the Bank of this Waiver and Release (the “Revocation Period”) during which Executive may revoke this Waiver and Release by delivering timely notice of revocation to the Bank. To be effective, any such revocation must be in writing, signed by the Executive and received by the Bank prior to 5:00 p.m. (Eastern) on the last day of the Revocation Period at the following address: Union Bank XX Xxx 000 Xxxxxxxxxxx, XX 00000 Attn: Chair, Chairman of the Board of Directors ; provided, however, that if the seventh calendar day is not a business day, the Revocation Period shall extend to 5:00 p.m. (Eastern) on the next business day. Once the Revocation Period has expired, this Waiver and Release shall become effective and irrevocable. The Executive understands that if he/she revokes this Waiver and Release during the seven day Revocation Periodrevocation period, it will be null and void in its entirety, and Executive shall not be entitled to any payment under the CIC Agreement.