2016 Reduction definition
2016 Reduction has the meaning set forth in the whereas clauses of this Agreement Liability means any liability or obligation of a Person of any nature, whether accrued, contingent or otherwise; provided, however, all such previously described liabilities or obligations of a Tax Disregarded Entity that is Wholly Owned, directly or indirectly, by such Person shall be treated as being a direct Liability of such Person. Lien means any interest in any property or asset in favor of a Person other than the owner of such property or asset and securing an obligation owed to, or a.claim by, such Person, whether such interest is based on the common law, statute or contract, including, but not limited to, the security interest lien arising from a mortgage, encumbrance, pledge, conditional sale, security agreement or trust receipt, or a lease, consignment or bailment for security purposes. 14
Examples of 2016 Reduction in a sentence
To be eligible for the January 2016 Reduction In Force (the “January 2016 RIF”), the individual must have been employed by SPA as of January 1, 2016.