Common use of Sunset Provision Clause in Contracts

Sunset Provision. Subject to Section 10.3, anything to the contrary in this Trust Agreement or the Plans notwithstanding, in the event of a Potential Change in Control, the procedures, rules and responsibilities that apply under this Article V and under Sections 2.1, 3.2, 7.2, 7.3, 8.5, 11.2 and 16.3 hereof solely as a result of the occurrence of such Potential Change in Control shall cease to apply six (6) months after delivery of the Required Funding Amount to the Trustee if no Change in Control shall have occurred during such six-month period, and the Board of Directors determines, and so certifies to the Trustee, that a Change in Control is not imminent, pending, or reasonably expected to occur (or upon such certification by non-employee members of the Board of Directors acting unanimously before the expiration of such six-month period), or upon the earlier termination of this Trust in a manner consistent with Section 3.2 hereof. Such new six-month period shall commence in the event of and upon the date of any subsequent Potential Change in Control.

Appears in 1 contract

Samples: Deferred Compensation and Benefits Trust Agreement (Sunoco Inc)

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Sunset Provision. Subject to Section 10.3, anything to the contrary in this Trust Agreement or the Plans notwithstanding, in the event of a Potential Change in Control, the procedures, rules and responsibilities that apply under this Article V and under Sections 2.1, 3.2, 7.2, 7.3, 8.5, 8.5 and 11.2 and 16.3 hereof solely as a result of the occurrence of such Potential Change in Control shall cease to apply six (6) months after delivery of the Required Funding Amount to the Trustee if no Change in Control shall have occurred during such six-month period, and the Board of Directors determines, and so certifies to the Trustee, that a Change in Control is not imminent, pending, or reasonably expected to occur (or upon such certification by non-employee members of the Board of Directors acting unanimously before the expiration of such six-month period), or upon the earlier termination of this Trust in a manner consistent with Section 3.2 hereof. Such new six-month period shall commence in the event of and upon the date of any subsequent Potential Change in Control.

Appears in 1 contract

Samples: Trust Agreement (Sunoco Inc)

Sunset Provision. Subject to Section 10.3, anything to the contrary in this Trust Agreement or the Plans notwithstanding, in the event of a Potential Change in Control, the procedures, rules and responsibilities that apply under this Article V and under Sections 2.1, 3.2, 8.5, 7.2, 7.3, 8.5, 11.2 and 16.3 16.3(b) hereof solely as a result of the occurrence of such Potential Change in Control shall cease to apply six (6) months after delivery of the Required Funding Amount to the Trustee if no Change in Control shall have occurred during such six-month period, and the Board of Directors determines, and so certifies to the Trustee, that a Change in Control is not imminent, pending, or reasonably expected to occur (or upon such certification by non-employee members of the Board of Directors acting unanimously before the expiration of such six-month period), or upon the earlier termination of this Trust in a manner consistent with Section 3.2 hereof. Such new six-month period shall commence in the event of and upon the date of any subsequent Potential Change in Control.

Appears in 1 contract

Samples: Trust Agreement (Sunoco Inc)

Sunset Provision. Subject to Section 10.3, anything to the contrary in this Trust Agreement or the Plans notwithstanding, in the event of a Potential Change in Control, the procedures, rules and responsibilities that apply under this Article V and under Sections 2.1, 3.2, 8.5, 7.2, 7.3, 8.5, 11.2 and 16.3 16.3(b) hereof solely as a result of the occurrence of such Potential Change in Control shall cease to apply six (6) months after delivery of the Required Funding Amount to the Trustee if no Change in Control shall have occurred during such six-month period, and the Board of Directors determines, and so certifies to the Trustee, that a Change in Control is not imminent, pending, or reasonably expected to occur (or upon such certification by non-employee members of the Board of Directors acting unanimously before the expiration of such six-month period), or upon the earlier termination of this Trust in a manner consistent with Section 3.2 hereof. Such new six-month period shall commence in the event of and upon the date of any subsequent Potential Change in Control.

Appears in 1 contract

Samples: Deferred Compensation and Benefits Trust Agreement (Sunoco Inc)

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Sunset Provision. Subject to Section 10.39.3, anything to the contrary in ---------------- this Trust Agreement or the Plans notwithstanding, in the event of a Potential Change in Control, the procedures, rules and responsibilities that apply under this Article V and under Sections 2.1, 3.2, 7.26.4, 7.3, 8.57.4, 11.2 10.2 and 16.3 14.3(b) hereof solely as a result of the occurrence of such Potential Change in Control shall cease to apply six (6) months after delivery of the Required Funding Amount to the Trustee if no Change in Control shall have occurred during such six-month period, and the Board of Directors determines, and so certifies to the Trustee, that a Change in Control is not imminent, pending, or reasonably expected to occur (or upon such certification by non-employee members of the Board of Directors acting unanimously before the expiration of such six-month period), or upon the earlier termination of this Trust in a manner consistent with Section 3.2 hereof. Such new six-month period shall commence recommence in the event of and upon the date of any subsequent Potential Change in Control.

Appears in 1 contract

Samples: Sunoco Inc

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