Common use of The Spinoff Clause in Contracts

The Spinoff. (a) The Spinoff will consist of a partial spinoff of Olimpia as a consequence of which ▇▇▇▇ will receive the pro-quota of Olimpia’s assets and liabilities. (b) The reference date, including for the determination of the pro-quota of the assets and liabilities and without prejudice to paragraph 9.02, of the Spinoff (the “Relevant Date”) will be: (i) the Initial Term, in the event of Standstill and in the event of failure to renew the Agreements on the original expiration or on the expiration of the subsequent renewal periods (without prejudice to paragraph 8.05(b) above); and (ii) a date coinciding with the third (3rd) Business Day following the date of the relevant event for the purposes of Accelerated Standstill, in the event of Accelerated Standstill. (c) Without prejudice to paragraph 9.06 below, the Current Olimpia Shareholders must take all necessary steps to complete the Spinoff within six (6) months: (i) from the Initial Term, in the event of Standstill and in the event of failure to renew the Agreements on the original expiration or on the expiration of the subsequent renewals periods; and (ii) from the date of receipt of the Accelerated Standstill Notice, in the event of Accelerated Standstill.

The Spinoff. (a) The Spinoff will consist of a partial spinoff of Olimpia as a consequence of which ▇▇▇▇ Hopa will receive the pro-quota of Olimpia’s 's assets and liabilities. (b) The reference date, including for the determination of the pro-quota of the assets and liabilities and without prejudice to paragraph 9.02, of the Spinoff (the “"Relevant Date”") will be: (i) the Initial Term, in the event of Standstill and in the event of failure to renew the Agreements on the original expiration or on the expiration of the subsequent renewal periods (without prejudice to paragraph 8.05(b) above); and (ii) a date coinciding with the third (3rd) Business Day following the date of the relevant event for the purposes of Accelerated Standstill, in the event of Accelerated Standstill. (c) Without prejudice to paragraph 9.06 below, the Current Olimpia Shareholders must take all necessary steps to complete the Spinoff within six (6) months: (i) from the Initial Term, in the event of Standstill and in the event of failure to renew the Agreements on the original expiration or on the expiration of the subsequent renewals periods; and (ii) from the date of receipt of the Accelerated Standstill Notice, in the event of Accelerated Standstill.