{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "the-employee-shall", "type": "clause", "offset": [0, 18]}, {"key": "the-severance-benefits", "type": "clause", "offset": [42, 64]}, {"key": "in-the-event", "type": "clause", "offset": [100, 112]}, {"key": "terminates-employment", "type": "definition", "offset": [154, 175]}, {"key": "for-any-reason", "type": "clause", "offset": [176, 190]}, {"key": "the-date-of-a-change-in-control", "type": "clause", "offset": [229, 260]}, {"key": "an-event", "type": "clause", "offset": [332, 340]}, {"key": "protected-period", "type": "clause", "offset": [369, 385]}, {"key": "good-reason", "type": "definition", "offset": [402, 413]}, {"key": "the-bank", "type": "clause", "offset": [424, 432]}, {"key": "the-company", "type": "definition", "offset": [436, 447]}, {"key": "written-consent", "type": "clause", "offset": [530, 545]}, {"key": "just-cause", "type": "definition", "offset": [576, 586]}], "snippet": "The Employee shall be entitled to collect the severance benefits set forth in Subsection (b) hereof in the event that either (i) the Employee voluntarily terminates employment for any reason within the 30-day period beginning on the date of a Change in Control, (ii) the Employee voluntarily terminates employment within 90 days of an event that both occurs during the Protected Period and constitutes Good Reason, or (iii) the Bank or the Company or their successor(s) in interest terminate the Employee's employment without his written consent and for any reason other than Just Cause during the Protected Period.", "samples": [{"hash": "hJn17bIc1SR", "uri": "/contracts/hJn17bIc1SR#trigger-events", "label": "Employment Agreement (Frankfort First Bancorp Inc)", "score": 18.0, "published": true}, {"hash": "gdBasgm6QlH", "uri": "/contracts/gdBasgm6QlH#trigger-events", "label": "Restated Employment Agreement (Tri County Financial Corp /Md/)", "score": 18.0, "published": true}, {"hash": "9hErrwc5q2l", "uri": 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{"hash": "2eiQxsrJFL1", "uri": "/contracts/2eiQxsrJFL1#trigger-events", "label": "Change in Control Severance Agreement (Norwood Financial Corp)", "score": 24.1978092194, "published": true}, {"hash": "26nDe855mQk", "uri": "/contracts/26nDe855mQk#trigger-events", "label": "Change in Control Severance Agreement (Norwood Financial Corp)", "score": 21.1998634338, "published": true}], "size": 18, "hash": "2d15e9d7b0f11ebd2bbe75e27b85d4f6", "id": 3}, {"snippet_links": [{"key": "the-new-york-stock-exchange", "type": "clause", "offset": [105, 132]}, {"key": "more-than-two-hours", "type": "clause", "offset": [140, 159]}, {"key": "effect-of-exchange", "type": "clause", "offset": [266, 284]}, {"key": "early-close-exchange-business-day", "type": "definition", "offset": [325, 358]}, {"key": "cure-periods", "type": "clause", "offset": [366, 378]}, {"key": "following-the", "type": "definition", "offset": [480, 493]}, {"key": "provided-that", "type": "clause", "offset": [529, 542]}, {"key": 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"of-the-adviser", "type": "clause", "offset": [12527, 12541]}, {"key": "to-the-trust", "type": "clause", "offset": [12555, 12567]}, {"key": "breach-of-this-agreement", "type": "clause", "offset": [12600, 12624]}, {"key": "bad-faith", "type": "clause", "offset": [12652, 12661]}, {"key": "willful-misconduct", "type": "definition", "offset": [12663, 12681]}, {"key": "portfolio-requirements", "type": "clause", "offset": [12809, 12831]}, {"key": "prior-to-a", "type": "clause", "offset": [12832, 12842]}, {"key": "market-initiated-defeasance-event", "type": "definition", "offset": [12881, 12914]}, {"key": "transmission-of-information", "type": "clause", "offset": [13022, 13049]}, {"key": "fails-to-deliver", "type": "clause", "offset": [13067, 13083]}, {"key": "amendment-to-schedule-1", "type": "clause", "offset": [13087, 13110]}, {"key": "to-amend", "type": "definition", "offset": [13152, 13160]}, {"key": "bond-ladder", "type": "definition", "offset": [13200, 13211]}, {"key": "adviser-conduct", "type": "definition", "offset": [13584, 13599]}, {"key": "pay-to", "type": "definition", "offset": [13669, 13675]}, {"key": "equal-to", "type": "definition", "offset": [13708, 13716]}, {"key": "directly-or-indirectly", "type": "clause", "offset": [13811, 13833]}, {"key": "sum-of", "type": "clause", "offset": [13988, 13994]}, {"key": "class-of-shares", "type": "clause", "offset": [14032, 14047]}, {"key": "nav-per-share", "type": "definition", "offset": [14085, 14098]}, {"key": "date-of-determination", "type": "definition", "offset": [14109, 14130]}, {"key": "hypothetical-portfolio", "type": "definition", "offset": [14175, 14197]}, {"key": "comprised-of", "type": "definition", "offset": [14198, 14210]}, {"key": "portfolio-assets", "type": "clause", "offset": [14222, 14238]}, {"key": "effect-of-the", "type": "clause", "offset": [14297, 14310]}, {"key": "to-the-extent", "type": "clause", "offset": [14327, 14340]}, {"key": "determination-of-the", "type": "clause", "offset": [14459, 14479]}, {"key": "based-on", "type": "definition", "offset": [14532, 14540]}, {"key": "compliance-with", "type": "definition", "offset": [14641, 14656]}, {"key": "the-restrictions", "type": "clause", "offset": [14664, 14680]}, {"key": "asset-classes", "type": "definition", "offset": [14746, 14759]}, {"key": "pro-rata-basis", "type": "clause", "offset": [14786, 14800]}, {"key": "in-addition", "type": "clause", "offset": [14802, 14813]}, {"key": "defeasance-portfolio", "type": "definition", "offset": [14876, 14896]}, {"key": "pursuant-to-sections", "type": "clause", "offset": [14897, 14917]}, {"key": "defeasance-date", "type": "definition", "offset": [15033, 15048]}, {"key": "additional-floor-shortfall", "type": "definition", "offset": [15141, 15167]}, {"key": "time-of-determination", "type": "definition", "offset": [15519, 15540]}, {"key": "executed-orders", "type": "clause", "offset": [15554, 15569]}, {"key": "to-sell", "type": "clause", "offset": [15570, 15577]}, {"key": "ineligible-investments", "type": "definition", "offset": [15614, 15636]}, {"key": "determination-notice", "type": "definition", "offset": [15797, 15817]}, {"key": "contained-in", "type": "definition", "offset": [16275, 16287]}, {"key": "objection-notice", "type": "definition", "offset": [16354, 16370]}], "snippet": "(a) The following events shall constitute Trigger Events hereunder; provided, however, that in the event the New York Stock Exchange closes more than two hours early or does not open on any Exchange Business Day due to any Force Majeure Event, other than due to the effect of exchange \u201ccircuit-breaker\u201d induced closings (an \u201cEarly Close Exchange Business Day\u201d), the cure periods specified in this Section 4.1(a) will be automatically extended until the next Exchange Business Day following the Early Close Exchange Business Day; provided that if three or more Early Close Exchange Business Days occur consecutively, the Warranty Provider may declare an immediate end to the cure period at 9 a.m. (Eastern time) on the third such subsequent Early Close Exchange Business Day.\n(i) Any failure at any time to comply with the provisions of Section 3.1;\n(ii) Any failure to comply with the provisions of Section 3.2, Section 3.3, Section 3.4(d) or 3.6;\n(iii) Any failure at any time to comply with the provisions of Section 3.4(a) unless such failure is attributable solely to a Force Majeure Event; provided, however, that if such failure to comply with Section 3.4(a) is the result of a Force Majeure Event that causes a failure to comply for five consecutive calendar days, such failure to comply will be considered a Trigger Event notwithstanding the exception in this Section 4.1(a)(iii) for a Force Majeure Event; provided further that the Adviser shall have a cure period for its first three failures to meet the 9 p.m. reporting obligation of Section 3.4(a) as follows: the Warranty Provider shall be required to make a good faith effort to notify (by e-mail or otherwise) the Adviser of its intention to declare a Trigger Event and the Adviser shall have until 8:00 a.m. (Eastern time) on the Exchange Business Day immediately succeeding the day on which the violation occurred to transmit the Daily Report required by Section 3.4(a). For the avoidance of doubt, it is acknowledged and agreed that the failure of the Warranty Provider, due to its own act or omission, to receive information otherwise transmitted by the Adviser in accordance with Section 3.4(a), shall not be considered to be a failure to comply with Section 3.4(a), provided that once the Adviser is advised by the Warranty Provider of its failure to receive a properly transmitted report, the Adviser shall re-transmit the information as soon as reasonably practicable;\n(iv) Any violation of Article III that is not provided for in clause (i), (ii), or (iii) above that could have an Adverse Effect, unless cured by the end of the Exchange Business Day following the Exchange Business Day on which the violation occurred;\n(v) The Fund shall fail to pay the Financial Warranty Fee when due as provided in Section 2.4 and such failure shall continue unremedied for a period of ten Business Days following notice of such failure by the Warranty Provider to the Fund;\n(vi) (A) The Adviser resigns; (B) the Fund elects to terminate the Investment Management Agreement with the Adviser; (C) the Fund appoints a successor adviser (including a subadviser) without the prior written consent of the Warranty Provider in its sole discretion; (D) the Investment Management Agreement terminates in accordance with its terms; or (E) the Adviser becomes prohibited from serving as an investment adviser to the Fund by Section 9 of the Investment Company Act; and in each of the cases of (A) through (E) above, any successor adviser (including the Adviser) that agrees to be bound by the terms of this Agreement is appointed by the Board of the Trust or the Shareholders, in each case without the prior written consent of the Warranty Provider in its reasonable discretion; provided that the Warranty Provider\u2019s failure to consent to a successor adviser shall be deemed to be reasonable if, among other possible reasons, the successor adviser (1) fails to agree to all of the terms of the Transaction Documents to which the Adviser is a party, (2) fails to meet the credit approval procedures then in place for business transactions with the Warranty Provider; (3) is subject to any litigation, regulatory action or other proceeding that may affect its ability to perform any of the Transaction Documents; (4) may in any reasonable manner adversely affect the Warranty Provider\u2019s economic bargain under this Agreement; or (5) is not reasonably believed by the Warranty Provider to be capable of managing the Fund;\n(vii) The Adviser resigns, the Fund elects to terminate the Investment Management Agreement with the Adviser or the Investment Management Agreement terminates in accordance with its terms and either (A) the Adviser is no longer obligated to manage the Fund pursuant to the terms of the Investment Management Agreement and a successor investment adviser acceptable to the Warranty Provider has not entered into an investment management agreement with the Fund or (B) the termination of the Investment Management Agreement is not yet effective but the Board of the Trust, on behalf of the Fund, has indicated its intention to the Warranty Provider, or taken any further action, to appoint a successor investment adviser notwithstanding the fact that the Warranty Provider has advised the Board that such successor investment adviser would not be acceptable to the Warranty Provider, in its sole discretion, then in either such case a Trigger Event shall be deemed to have occurred notwithstanding the fact that a successor investment adviser has not yet been appointed;\n(viii) Subject to the foregoing provisions of this Section 4.1(a), the Adviser does nototherwise manage in all material respects the assets of the Fund in accordance with the investment objective, policies and strategies set forth in the Registration Statement and/or in accordance with the Investment Management Agreement;\n(ix) Any representation or warranty made by the Adviser, the Trust or the Trust on behalf of the Fund in any Transaction Document or in any document or certification provided in connection with any Transaction Document, shall have been incorrect or misleading when made or when deemed made, except where such incorrect or misleading representation or warranty could not reasonably be expected to have an Adverse Effect;\n(x) The Adviser, the Trust, the Fund or the Custodian shall fail to perform any obligation, or shall breach any covenant, under this Agreement or the Transaction Documents that is not expressly provided for in clauses (i), (ii), (iii), (iv), (v), (vi), (vii), (viii) or (ix) above, which failure could reasonably be expected to have an Adverse Effectand such violation, if capable of being remedied, shall continue unremedied for a period of three Business Days after the Adviser becomes aware of the occurrence of such breach or failure; provided, that the Adviser shall be deemed to be aware of such violation if such violation has been in existence for three Exchange Business Days;\n(xi) The occurrence of any of the following: (A) a Regulatory Event or Litigation Event (other than a Litigation Event arising out of a claim under this Agreement between the Adviser and/or the Trust on behalf of the Fund on one side and the Warranty Provider on the other side), (B) an Act of Insolvency with respect to the Adviser or the Fund; (C) the Trust, with respect to the Fund, ceases to be (1) duly registered with the Commission as an open-end management investment company under the Investment Company Act, (2) an investment company for purposes of the Commodity Exchange Act, or (3) a regulated investment company eligible to receive pass through tax treatment under Subchapter M of the Code; or (D) the adoption by the Fund of a new share class without the express written consent of the Warranty Provider.\n(xii) Any change in circumstances occurs with respect to an Underlying Fund or Eligible Money Market Fund, that could have an Adverse Effect on the Fund, the Adviser or the Warranty Provider, and the Fund fails to liquidate all of its shares of the Underlying Fund or Eligible Money Market Fund, as applicable, within 2 Exchange Business Days; provided thata decrease in net asset value occurring due to market fluctuations in the case of an Underlying Fund shall not be considered to be such an Adverse Effect; and further provided that with respect to an Eligible Money Market Fund and for purposes of this subsection (xii) a material adverse effect shall include having a net asset value other than $1.00 per share;\n(xiii) If the Adviser at any time fails to have at least $_______ of assets under management; provided that if the Adviser\u2019s assets under management fall under $_______, the Adviser shall have ___ Business Days to arrange for an entity under common control with the Adviser to unconditionally guarantee the Adviser\u2019s obligations under this Agreement, as such guarantee may be approved in writing by the Warranty Provider in its sole discretion; or\n(xiv) (A) Any failure at any time of any Eligible Money Market Fund in which the Fund is then invested to be managed pursuant to the requirements of Rule 2a-7 under the Investment Company Act; unless such failure is remedied within two Exchange Business Days; (B) Any failure at any time of any Eligible Money Market Fund in which the Fund is then invested that is not registered under the Investment Company Act to be managed pursuant to the requirements of Rule 12d1-1(b) under the Investment Company Act; unless such failure is remedied within two Exchange Business Days.\n(b) Notwithstanding any other provision hereof, in the event of a Potential Trigger Event, the Adviser shall not permit the Fund to acquire any additional Eligible Equity Investments until such Potential Trigger Event is cured and shall upon becoming aware of such Potential Trigger Event immediately notify the Warranty Provider of such Potential Trigger Event, which notice shall include a description of the manner in which the Adviser intends to cure such Potential Trigger Event (\u201cCurative Steps\u201d), the Adviser\u2019s assessment of the likelihood of success, the time the Adviser expects to elapse before such Potential Trigger Event is cured, and such other information as the Warranty Provider may reasonably request. Upon sending such notice to the Warranty Provider, the Adviser shall immediately take the Curative Steps set forth in such notice unless and until such time as the Warranty Provider notifies the Adviser that it objects to such Curative Steps, in which case the Adviser shall immediately cease the implementation of such Curative Steps. The Warranty Provider shall only object to such Curative Steps if, in the Warranty Provider\u2019s reasonable discretion, they are not consistent with this Agreement or are not likely to be an effective cure of the Potential Trigger Event within the cure period set forth in Section 4.1(a), if any.\n(c) If a Trigger Event occurs, then, at the election of the Warranty Provider in its sole discretion, the Warranty Provider shall have the right at any time after such Trigger Event to either (i) (A) instruct the Adviser to invest all of the Fund\u2019s assets in accordance with Section 4.2(a) for the remainder of the Warranty Period or (B) to deliver the Irrevocable Instructions to the Custodian to invest all of the Fund\u2019s assets in accordance with Section 4.2(a) for the remainder of the Warranty Period (in each case, a \u201cTrigger Initiated Defeasance Event\u201d) or (ii) adjust the Multiple. Any such adjustment to the Multiple shall be permanent, unless and until further adjusted by the Warranty Provider in its sole discretion. For the avoidance of doubt, the parties hereto agree that (i) the Warranty Provider may at its election, in its sole discretion, exercise the remedy provided in Section 4.1(c)(i)(B) after it has exercised the remedy provided in Section 4.1(c)(i)(A) and (ii) if the Warranty Provider exercises its rights to adjust the Multiple, the Warranty Provider shall not be precluded subsequent thereto from exercising its rights under Sections 4.1(c)(i)(A) and/or 4.1(c)(i)(B). The Warranty Provider shall notify the Adviser and the Fund of the Warranty Provider\u2019s decision to exercise the remedies pursuant to this Section 4.1(c) prior to such exercise. The Adviser shall invest all of the Fund\u2019s assets in accordance with Section 4.2(a) within one Exchange Business Day following its receipt of a written instruction by the Warranty Provider under Section 4.1(c)(i)(A).\n(d) In the event of (i) an act or omission on the part of the Adviser with respect to the Trust or the Fund which constitutes a breach of this Agreement, negligence, recklessness, bad faith, willful misconduct or fraud, including by way of example only and not intended as an exhaustive list, if (A) the Adviser fails to comply with the Portfolio Requirements prior to a Trigger Initiated Defeasance Event or Market Initiated Defeasance Event, (B) any violation of reporting in accordance with Section 3.4(a), including material inaccuracies or late transmission of information, (C) the Adviser fails to deliver an amendment to Schedule 1 to the Irrevocable Instructions or fails to amend such Schedule 1 in accordance with the Bond Ladder pursuant to Section 4.2, or (D) the Adviser causes the Fund to purchase investments other than those permitted to be invested in hereunder after the occurrence of a Trigger Initiated Defeasance Event or a Market Initiated Defeasance Event resulting in a violation of Section 4.1(c) or Section 4.2(a) (such conduct referenced in subsection (i) of this Section 4.1(d), the \u201cAdviser Conduct\u201d) and (ii) the existence of a Floor Shortfall, the Adviser agrees to pay to the Warranty Provider an amount equal to the amount of such Floor Shortfall determined as provided in this Section 4.1(d) to have been directly or indirectly attributable to such Adviser Conduct. The amount of such Floor Shortfall directly or indirectly attributable to the Adviser Conduct shall be equal to the sum of the differences with respect to each Class of Shares, if negative, between (a) the actual NAV Per Share as of the date of determination and (b) the hypothetical NAV Per Share of a hypothetical portfolio comprised of the actual portfolio assets as of the date of determination adjusted to eliminate the effect of the Adviser Conduct to the extent necessary to eliminate any Floor Shortfall directly or indirectly attributable to such Adviser Conduct. In making the determination of the Floor Shortfall, the hypothetical portfolio will be based on the actual portfolio of assets as of the date of determination adjusted to bring the portfolio into compliance with all of the restrictions of Section 3.2 hereof, by decreasing and increasing positions in asset classes, as the case may be, on a pro rata basis. In addition, if all of the Fund\u2019s assets are required to be invested in a Defeasance Portfolio pursuant to Sections 4.1(c)(i) and 4.2 and the Fund\u2019s assets are not so invested on the Exchange Business Day immediately following the Defeasance Date and for the remainder of the Warranty Period, then if (and only if) a Floor Shortfall or an additional Floor Shortfall (collectively \u201cAdditional Floor Shortfall\u201d) arises due to the Fund\u2019s assets not being so invested within such period and/or for the remainder of the Warranty Period, then the Adviser agrees to pay to the Warranty Provider such Additional Floor Shortfall (if any). The Fund\u2019s assets shall be deemed to be invested in the Defeasance Portfolio if at the time of determination the Fund has executed orders to sell all Eligible Equity Investments and Ineligible Investments, if any, and subsequent thereto has executed orders to invest all of the proceeds thereof in the Defeasance Portfolio. The Warranty Provider shall notify (the \u201cDetermination Notice\u201d) the Adviser in writing of its determination that Adviser Conduct has occurred and any Floor Shortfall directly or indirectly attributable to such Adviser Conduct and any Additional Floor Shortfall. If the Adviser disagrees with the Warranty Provider\u2019s determination that there has been Adviser Conduct and/or the amount of the Floor Shortfall directly or indirectly attributable to such Adviser Conduct and/or the amount of the Additional Floor Shortfall contained in the Determination Notice, then (i) the Adviser shall notify (the \u201cObjection Notice\u201d) the Warrant", "samples": [{"hash": "lq9iSrM8R1T", "uri": "/contracts/lq9iSrM8R1T#trigger-events", "label": "Financial Warranty Agreement (DWS Target Fund)", "score": 21.0, "published": true}, {"hash": "5PkjqBYj6pM", "uri": "/contracts/5PkjqBYj6pM#trigger-events", "label": "Financial Warranty Agreement (DWS Target Fund)", "score": 21.0, "published": true}], "size": 19, "hash": "e9d1eb7d17d5cdffa8e839f42c6eb32b", "id": 2}, {"snippet_links": [{"key": "the-employee-shall", "type": "clause", "offset": [0, 18]}, {"key": "the-severance-benefits", "type": "clause", "offset": [42, 64]}, {"key": "in-lieu-of", "type": "clause", "offset": [100, 110]}, {"key": "section-10", "type": "definition", "offset": [130, 140]}, {"key": "in-the-event", "type": "clause", "offset": [148, 160]}, {"key": "a-change-in-control", "type": "definition", "offset": [170, 189]}, {"key": "the-company", "type": "definition", "offset": [206, 217]}, {"key": "written-consent", "type": "clause", "offset": [298, 313]}, {"key": "for-any-reason", "type": "clause", "offset": [318, 332]}, {"key": "just-cause", "type": "definition", "offset": [344, 354]}, {"key": "protected-period", "type": "clause", "offset": [366, 382]}], "snippet": "The Employee shall be entitled to collect the severance benefits set forth in Subsection (b) hereof in lieu of any benefits under Section 10 hereof in the event that (i) a Change in Control occurs, or (ii) the Company or its successor(s) in interest terminate the Employee's employment without his written consent and for any reason other than Just Cause during the Protected Period.", "samples": [{"hash": "g1zOloZMaVt", "uri": "/contracts/g1zOloZMaVt#trigger-events", "label": "Employment Agreement (HCB Bancshares Inc)", "score": 18.0, "published": true}, {"hash": "8n5UCZlZV2V", "uri": "/contracts/8n5UCZlZV2V#trigger-events", "label": "Employment Agreement (HCB Bancshares Inc)", "score": 18.0, "published": true}, {"hash": "3bs1WDUiTpA", "uri": "/contracts/3bs1WDUiTpA#trigger-events", "label": "Employment Agreement (HCB Bancshares Inc)", "score": 18.0, "published": true}], "size": 15, "hash": "5600d5a496ddf5d0dd2866b9c869a4d0", "id": 4}, {"snippet_links": [{"key": "sale-of-shares-of-common-stock", "type": "clause", "offset": [35, 65]}, {"key": "underwritten-public-offering", "type": "clause", "offset": [101, 129]}, {"key": "statement-under", "type": "clause", "offset": [168, 183]}, {"key": "securities-act-of-1933", "type": "clause", "offset": [188, 210]}, {"key": "as-amended", "type": "definition", "offset": [212, 222]}, {"key": "price-to-the-public", "type": "definition", "offset": [240, 259]}, {"key": "subject-to", "type": "definition", "offset": [289, 299]}, {"key": "adjustment-for", "type": "clause", "offset": [310, 324]}, {"key": "stock-dividend", "type": "definition", "offset": [329, 343]}, {"key": "stock-split", "type": "definition", "offset": [345, 356]}, {"key": "combination-of-shares", "type": "clause", "offset": [374, 395]}, {"key": "net-proceeds", "type": "definition", "offset": [458, 470]}, {"key": "to-the-corporation", "type": "clause", "offset": [471, 489]}, {"key": "in-connection-with", "type": "clause", "offset": [494, 512]}, {"key": "the-common-stock", "type": "clause", "offset": [527, 543]}, {"key": "the-nasdaq-stock-market", "type": "clause", "offset": [569, 592]}, {"key": "national-market", "type": "clause", "offset": [595, 610]}, {"key": "the-new-york-stock-exchange", "type": "clause", "offset": [612, 639]}, {"key": "approved-by-the-board", "type": "definition", "offset": [675, 696]}, {"key": "prior-to-the", "type": "clause", "offset": [714, 726]}, {"key": "consummation-of", "type": "clause", "offset": [727, 742]}, {"key": "related-transactions", "type": "clause", "offset": [770, 790]}, {"key": "share-exchange", "type": "clause", "offset": [817, 831]}, {"key": "of-the-corporation", "type": "clause", "offset": [845, 863]}, {"key": "publicly-traded", "type": "definition", "offset": [871, 886]}, {"key": "special-purpose-acquisition-company", "type": "definition", "offset": [888, 923]}, {"key": "following-the", "type": "definition", "offset": [981, 994]}, {"key": "share-capital", "type": "clause", "offset": [1037, 1050]}, {"key": "successor-entity", "type": "definition", "offset": [1070, 1086]}, {"key": "spac-transaction", "type": "definition", "offset": [1268, 1284]}, {"key": "date-and-time", "type": "clause", "offset": [1294, 1307]}, {"key": "occurrence-of-an-event", "type": "clause", "offset": [1316, 1338]}, {"key": "by-vote", "type": "clause", "offset": [1350, 1357]}, {"key": "written-consent-of-the-required-holders", "type": "clause", "offset": [1361, 1400]}, {"key": "the-event", "type": "clause", "offset": [1473, 1482]}, {"key": "mandatory-conversion-time", "type": "definition", "offset": [1555, 1580]}, {"key": "stock-shall", "type": "definition", "offset": [1624, 1635]}, {"key": "conversion-rate", "type": "clause", "offset": [1714, 1729]}, {"key": "by-the-corporation", "type": "clause", "offset": [1770, 1788]}, {"key": "for-the-avoidance-of-doubt", "type": "clause", "offset": [1790, 1816]}, {"key": "conversion-of", "type": "clause", "offset": [1833, 1846]}, {"key": "prior-to-a", "type": "clause", "offset": [1929, 1939]}, {"key": "pursuant-to-clause", "type": "clause", "offset": [1957, 1975]}, {"key": "this-subsection", "type": "definition", "offset": [1983, 1998]}, {"key": "the-preferred-stock", "type": "clause", "offset": [2018, 2037]}, {"key": "subsection-3", "type": "clause", "offset": [2044, 2056]}, {"key": "with-respect-to", "type": "clause", "offset": [2057, 2072]}, {"key": "preferential-payments", "type": "clause", "offset": [2073, 2094]}, {"key": "other-payments", "type": "definition", "offset": [2103, 2117]}, {"key": "distributions-to", "type": "clause", "offset": [2149, 2165]}, {"key": "such-rights", "type": "definition", "offset": [2203, 2214]}], "snippet": "Upon either (a) the closing of the sale of shares of Common Stock to the public in a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended (i) in which the price to the public per share is at least $1.20 (subject to equitable adjustment for any stock dividend, stock split, stock split-up, combination of shares or the like) and (ii) resulting in at least $75,000,000.00 of net proceeds to the Corporation and in connection with such offering the Common Stock is listed for trading on the Nasdaq Stock Market\u2019s National Market, the New York Stock Exchange or another exchange or marketplace approved by the Board, (b) immediately prior to the consummation of a transaction or series of related transactions by merger, consolidation, share exchange or otherwise of the Corporation with a publicly traded \u201cspecial purpose acquisition company\u201d or its subsidiary (collectively, a \u201cSPAC\u201d), immediately following the consummation of which the common stock or share capital of the SPAC or its successor entity is listed on the Nasdaq Stock Market, the New York Stock Exchange or another exchange or marketplace approved by the Board (such transaction or series of related transactions, the \u201cSPAC Transaction\u201d) or the date and time, or the occurrence of an event, specified by vote or written consent of the Required Holders (the time of such closing or the date and time specified or the time of the event specified in such vote or written consent is referred to herein as the \u201cMandatory Conversion Time\u201d), (x) all outstanding shares of Preferred Stock shall automatically be converted into shares of Common Stock, at the then effective conversion rate and (y) such shares may not be reissued by the Corporation. For the avoidance of doubt, upon automatic conversion of all outstanding shares of Preferred Stock into shares of Common Stock immediately prior to a SPAC Transaction pursuant to clause (b) of this Subsection 5.1, all rights of the Preferred Stock under Subsection 3 with respect to preferential payments (or any other payments that may otherwise differ from distributions to Common Stock) will terminate, and no such rights shall apply with respect to the SPAC Transaction.", "samples": [{"hash": "eUaFLNrlHrr", "uri": "/contracts/eUaFLNrlHrr#trigger-events", "label": "Contribution and Exchange Agreement (Furneaux Carol)", "score": 32.4483222961, "published": true}, {"hash": "wvTvJTA2SB", "uri": "/contracts/wvTvJTA2SB#trigger-events", "label": "Contribution and Exchange Agreement (RiverRoad Capital Partners, LLC)", "score": 32.4318962097, "published": true}, {"hash": "l0eTd34jC5m", "uri": "/contracts/l0eTd34jC5m#trigger-events", "label": "Contribution and Exchange Agreement (Steinberg Michael)", "score": 32.4318962097, "published": true}], "size": 13, "hash": "d954dc693fdc937fdade917196531997", "id": 5}, {"snippet_links": [{"key": "this-note", "type": "clause", "offset": [39, 48]}, {"key": "fails-to-pay", "type": "clause", "offset": [89, 101]}, {"key": "when-due-and-payable", "type": "clause", "offset": [162, 182]}, {"key": "material-part", "type": "definition", "offset": [282, 295]}, {"key": "in-writing", "type": "definition", "offset": [509, 519]}, {"key": "inability-to-pay", "type": "clause", "offset": [524, 540]}, {"key": "subject-to", "type": "definition", "offset": [572, 582]}, {"key": "grace-periods", "type": "clause", "offset": [594, 607]}], "snippet": "The following are trigger events under this Note (each, a \u201cTrigger Event\u201d):\n(a) Borrower fails to pay any principal, interest, fees, charges, or any other amount when due and payable hereunder; (b) a receiver, trustee or other similar official shall be appointed over Borrower or a material part of its assets and such appointment shall remain uncontested for twenty (20) days or shall not be dismissed or discharged within sixty (60) days; (c) Borrower becomes insolvent or generally fails to pay, or admits in writing its inability to pay, its debts as they become due, subject to applicable grace periods, if any; (", "samples": [{"hash": "ke78yO6rm50", "uri": "/contracts/ke78yO6rm50#trigger-events", "label": "Promissory Note (Virtuix Holdings Inc.)", "score": 36.2491455078, "published": true}, {"hash": "k6dfBWPqASh", "uri": "/contracts/k6dfBWPqASh#trigger-events", "label": "Securities Purchase Agreement (Insight Acquisition Corp. /DE)", "score": 35.9459266663, "published": true}, {"hash": "eWmyOEtgXzh", "uri": "/contracts/eWmyOEtgXzh#trigger-events", "label": "Securities Purchase Agreement (Insight Acquisition Corp. /DE)", "score": 35.8090362549, "published": true}], "size": 13, "hash": "0ce962ec0eec1450c438e877b496fff3", "id": 6}, {"snippet_links": [{"key": "the-employee-shall", "type": "clause", "offset": [0, 18]}, {"key": "the-severance-benefits", "type": "clause", "offset": [42, 64]}, {"key": "section-10", "type": "definition", "offset": [100, 110]}, {"key": "in-the-event", "type": "clause", "offset": [111, 123]}, {"key": "an-event", "type": "clause", "offset": [216, 224]}, {"key": "protected-period", "type": "clause", "offset": [253, 269]}, {"key": "good-reason", "type": "definition", "offset": [286, 297]}, {"key": "the-company", "type": "definition", "offset": [307, 318]}, {"key": "successor-in-interest", "type": "clause", "offset": [326, 347]}, {"key": "written-consent", "type": "clause", "offset": [408, 423]}, {"key": "for-any-reason", "type": "clause", "offset": [424, 438]}, {"key": "other-than-cause", "type": "clause", "offset": [439, 455]}], "snippet": "The Employee shall be entitled to collect the severance benefits set forth in paragraph (b) of this Section 10 in the event that either (i) the Employee voluntarily terminates his employment within 60 days following an event that both occurs during the Protected Period and constitutes Good Reason, or (ii) the Company or its successor in interest terminates the Employee\u2019s employment without the Employee\u2019s written consent for any reason other than Cause during the Protected Period.", "samples": [{"hash": "lETZqVL526M", "uri": "/contracts/lETZqVL526M#trigger-events", "label": "Employment Agreement (Madison Bancorp Inc)", "score": 21.5557842255, "published": true}, {"hash": "d9NzE8oznEL", "uri": "/contracts/d9NzE8oznEL#trigger-events", "label": "Employment Agreement (Madison Bancorp Inc)", "score": 21.5557842255, "published": true}, {"hash": "8MKDSsXI3Wa", "uri": "/contracts/8MKDSsXI3Wa#trigger-events", "label": "Employment Agreement (Madison Bancorp Inc)", "score": 21.5557842255, "published": true}], "size": 12, "hash": "38a88987399978c4683e1b4bf4dc197b", "id": 7}, {"snippet_links": [{"key": "stock-shall", "type": "definition", "offset": [28, 39]}, {"key": "fully-paid", "type": "clause", "offset": [72, 82]}, {"key": "shares-of-common-stock", "type": "clause", "offset": [102, 124]}, {"key": "applicable-conversion-price", "type": "definition", "offset": [147, 174]}, {"key": "in-the-event", "type": "clause", "offset": [175, 187]}, {"key": "new-senior", "type": "definition", "offset": [201, 211]}, {"key": "to-convert", "type": "clause", "offset": [240, 250]}, {"key": "all-shares", "type": "clause", "offset": [251, 261]}, {"key": "stock-of-the-corporation", "type": "clause", "offset": [303, 327]}, {"key": "national-securities-exchange", "type": "clause", "offset": [360, 388]}, {"key": "special-mandatory-conversion", "type": "definition", "offset": [469, 497]}, {"key": "all-accrued", "type": "clause", "offset": [500, 511]}, {"key": "dividends-on-shares", "type": "clause", "offset": [523, 542]}, {"key": "additional-shares", "type": "definition", "offset": [589, 606]}, {"key": "the-board-of-directors", "type": "definition", "offset": [628, 650]}, {"key": "in-connection-with", "type": "clause", "offset": [652, 670]}], "snippet": "Each share of New Preferred Stock shall be automatically converted into fully paid and non-assessable shares of Common Stock at the then-effective applicable Conversion Price in the event that (i) the New Senior Majority shall have elected to convert all shares of New Preferred Stock or (2) the Common Stock of the Corporation becomes listed for trading on a national securities exchange. Each of the conversions set forth in this Section B.10(a) is referred to as a \u201cSpecial Mandatory Conversion.\u201d All accrued but unpaid dividends on shares New Preferred Stock shall be paid, in cash or additional shares at the discretion of the Board of Directors, in connection with any Special Mandatory Conversion.", "samples": [{"hash": "bNy5Cn94vfq", "uri": "/contracts/bNy5Cn94vfq#trigger-events", "label": "License Agreement (Radius Health, Inc.)", "score": 26.1854896545, "published": true}, {"hash": "jfNRZqp5hGT", "uri": "/contracts/jfNRZqp5hGT#trigger-events", "label": "License Agreement (Radius Health, Inc.)", "score": 22.8480491638, "published": true}, {"hash": "dXGHnaTTbwO", "uri": "/contracts/dXGHnaTTbwO#trigger-events", "label": "Series a 1 Convertible Preferred Stock Purchase Agreement (Radius Health, Inc.)", "score": 22.8480491638, "published": true}], "size": 10, "hash": "bb5e5928929004314bee09d155f98240", "id": 8}, {"snippet_links": [{"key": "the-employee-shall", "type": "clause", "offset": [0, 18]}, {"key": "the-severance-benefits", "type": "clause", "offset": [42, 64]}, {"key": "in-section-3", "type": "clause", "offset": [75, 87]}, {"key": "this-agreement", "type": "clause", "offset": [91, 105]}, {"key": "in-the-event", "type": "clause", "offset": [106, 118]}, {"key": "for-any-reason", "type": "clause", "offset": [124, 138]}, {"key": "terminates-employment", "type": "definition", "offset": [190, 211]}, {"key": "the-date-of-a-change-in-control", "type": "clause", "offset": [272, 303]}, {"key": "an-event", "type": "clause", "offset": [375, 383]}, {"key": "protected-period", "type": "clause", "offset": [412, 428]}, {"key": "good-reason", "type": "definition", "offset": [445, 456]}, {"key": "the-bank", "type": "clause", "offset": [467, 475]}, {"key": "the-company", "type": "definition", "offset": [477, 488]}, {"key": "right-to-receive", "type": "clause", "offset": [616, 632]}, {"key": "benefits-for", "type": "clause", "offset": [655, 667]}, {"key": "termination-for-just-cause", "type": "definition", "offset": [685, 711]}], "snippet": "The Employee shall be entitled to collect the severance benefits set forth in Section 3 of this Agreement in the event that for any reason other than Just Cause (i) the Employee voluntarily terminates employment either for any reason within the 30-day period beginning on the date of a Change in Control, (ii) the Employee voluntarily terminates employment within 90 days of an event that both occurs during the Protected Period and constitutes Good Reason, or (iii) the Bank, the Company, or their successor(s) in interest terminate the Employee's employment during the Protected Period. The Employee shall have no right to receive compensation or other benefits for any period after termination for Just Cause or if a Change in Control never occurs.", "samples": [{"hash": "l8Ga26IXUZn", "uri": "/contracts/l8Ga26IXUZn#trigger-events", "label": "Change in Control Protective Agreement (East Ridge Bancshares Inc)", "score": 18.0, "published": true}, {"hash": "jRh49gLxjvG", "uri": "/contracts/jRh49gLxjvG#trigger-events", "label": "Change in Control Protective Agreement (East Ridge Bancshares Inc)", "score": 18.0, "published": true}, {"hash": "jJ9qaXL1JTN", "uri": "/contracts/jJ9qaXL1JTN#trigger-events", "label": "Change in Control Protective Agreement (East Ridge Bancshares Inc)", "score": 18.0, "published": true}], "size": 8, "hash": "4f8aff4c4b11e1b72fca213f528ef04e", "id": 9}, {"snippet_links": [{"key": "the-executive", "type": "clause", "offset": [0, 13]}, {"key": "the-severance-benefits", "type": "clause", "offset": [43, 65]}, {"key": "in-the-event", "type": "clause", "offset": [101, 113]}, {"key": "terminates-employment", "type": "definition", "offset": [156, 177]}, {"key": "for-any-reason", "type": "clause", "offset": [185, 199]}, {"key": "just-cause", "type": "definition", "offset": [211, 221]}, {"key": "the-date-of-a-change-in-control", "type": "clause", "offset": [260, 291]}, {"key": "an-event", "type": "clause", "offset": [364, 372]}, {"key": "protected-period", "type": "clause", "offset": [401, 417]}, {"key": "good-reason", "type": "definition", "offset": [434, 445]}, {"key": "the-bank", "type": "clause", "offset": [456, 464]}, {"key": "written-consent", "type": "clause", "offset": [547, 562]}], "snippet": "The Executive shall be entitled to collect the severance benefits set forth in subsection (b) hereof in the event that either (i) the Executive voluntarily terminates employment either for any reason other than Just Cause within the 30-day period beginning on the date of a Change in Control, (ii) the Executive voluntarily terminates employment within 90 days of an event that both occurs during the Protected Period and constitutes Good Reason, or (iii) the Bank or its successor(s) in interest terminates the Executive's employment without his written consent and for any reason other than Just Cause during the Protected Period.", "samples": [{"hash": "wYMev8rGDi", "uri": "/contracts/wYMev8rGDi#trigger-events", "label": "Employment Agreement (HFB Financial Corp)", "score": 18.0, "published": true}, {"hash": "jO61lUMCObg", "uri": "/contracts/jO61lUMCObg#trigger-events", "label": "Employment Agreement (HFB Financial Corp)", "score": 18.0, "published": true}, {"hash": "cFfb052D4mz", "uri": "/contracts/cFfb052D4mz#trigger-events", "label": "Employment Agreement (HFB Financial Corp)", "score": 18.0, "published": true}], "size": 8, "hash": "6a49c29ba7993b8007c6989273221731", "id": 10}], "next_curs": "ClcSUWoVc35sYXdpbnNpZGVyY29udHJhY3RzcjMLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ihd0cmlnZ2VyLWV2ZW50cyMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"size": 457, "parents": [["mandatory-conversion", "Mandatory Conversion"], ["miscellaneous", "Miscellaneous"], ["change-in-control", "Change in Control"], ["trigger-events-defaults-and-remedies", "Trigger Events Defaults and Remedies"], ["trigger-events", "Trigger Events"]], "children": [["trigger-events", "Trigger Events"], ["defeasance-portfolio", "Defeasance Portfolio"], ["", ""], ["breach-of-material-representation-or-covenant-or-obligation", "Breach of Material Representation or Covenant or Obligation"], ["security-interest", "Security Interest"]], "title": "Trigger Events", "id": "trigger-events", "related": [["trigger-event", "Trigger Event", "Trigger Event"], ["triggering-events", "Triggering Events", "Triggering Events"], ["default-events", "Default Events", "Default Events"], ["termination-events", "Termination Events", "Termination Events"], ["pay-out-events", "Pay Out Events", "Pay Out Events"]], "related_snippets": [], "updated": "2026-06-09T04:45:18+00:00", "also_ask": ["What negotiation leverage can be gained by broadening or narrowing the definition of trigger events?", "Which essential elements must be included to ensure trigger events are clearly defined and enforceable?", "What are the most common pitfalls or ambiguities in drafting trigger event clauses?", "How do trigger event standards differ across jurisdictions or contract types?", "What evidentiary thresholds must be met in court to prove a trigger event has occurred?"], "drafting_tip": "List all trigger events exhaustively to prevent disputes; use precise language to avoid ambiguity; specify objective criteria to ensure enforceability.", "explanation": "The Trigger Events clause defines specific circumstances or occurrences that activate certain rights, obligations, or processes within an agreement. For example, it may list events such as a party's insolvency, a material breach, or a change in control that, once they occur, allow the other party to take predefined actions like terminating the contract or demanding payment. This clause ensures that both parties are aware of the key events that can significantly alter their contractual relationship, providing clarity and predictability in managing risk and responses to unforeseen developments."}, "json": true, "cursor": ""}}