AREC definition
Examples of AREC in a sentence
Any determination made by AREC on or prior to the Distribution Time concerning the satisfaction or waiver of any or all of the conditions set forth in this Section 3.1 shall be conclusive and binding on the parties and all other affected Persons.
AREC and EMC shall, and shall, to the fullest extent permitted by Applicable Law, cause the other members of their respective Group to, cooperate to cause the conditions to the Distribution set forth in Section 3.1 to be satisfied (or waived by AREC) and to effect the Distribution at the Distribution Time upon such satisfaction (or waiver by AREC).
AREC and EMC shall each bear the costs and expenses incurred or paid by it or the other members of its respective Group in connection with the Transfer, the Distribution, and any other related transaction.
Notwithstanding anything in any Transfer Agreement to the contrary, neither AREC nor any other member of the AREC Group, on the one hand, nor EMC nor any other member of the EMC Group, on the other hand, shall commence, bring, or otherwise initiate any Action under any Transfer Agreement.
The parties agree to cooperate on any litigation and EMC agrees to indemnify AREC for any litigation liabilities or costs.
Following the Distribution Date, EMC agrees to provide all book-entry transfer authorizations for shares of EMC Common Stock that AREC or the Distribution Agent shall require (after giving effect to Sections 3.3 and 3.4) in order to effect the Distribution.
AREC may, at any time and from time to time until the Distribution Time, modify or change the terms of the Distribution, including by accelerating or delaying the timing of the consummation of all or part of the Distribution.
At or prior to the Distribution Time, to the extent not already consummated, each of AREC and EMC shall, and shall, to the fullest extent permitted by Applicable Law, cause the other members of its Group to, consummate the Transfer.
Except as otherwise required by Applicable Law or agreed to by the parties in writing, for a period of seven years following the Distribution Date, each party shall, and shall, to the fullest extent permitted by Applicable Law, cause the other members of its Group to, retain any and all information in its possession or control relating to the other Group’s Business in accordance with the document retention practices of AREC as in effect as of the date hereof.
Notwithstanding any provision of this Agreement to the contrary, the Board of Directors of AREC may, in its sole discretion and without the approval of EMC or any other Person, at any time prior to the Distribution Time terminate this Agreement and/or abandon the Distribution, whether or not any Person has theretofore approved this Agreement and/or the Distribution.