Atlantic Holdings definition
Examples of Atlantic Holdings in a sentence
Executive acknowledges and agrees that all memoranda, notes, records and other documents made or compiled by Executive or made available to Executive as an employee of the Company concerning Atlantic Power or Atlantic Holdings shall be the Company’s exclusive property and shall be delivered by Executive to the Company upon expiration or termination of this Agreement or at any other time upon the written request of the Company.
Executive hereby acknowledges that the services to be rendered by him are of a special, unique and extraordinary character and, in connection with such services, he will have access to confidential information concerning the business of Atlantic Power and Atlantic Holdings.
By reason of this, Executive consents and agrees that if he violates any of the provisions of this Agreement with respect to confidentiality, the Company and Atlantic Power would sustain irreparable harm and, therefore, in addition to any other remedies which the Company and Atlantic Power may have under this Agreement or otherwise, the Company and Atlantic Holdings will each be entitled to seek an injunction restraining Executive from committing or continuing any such violation.
Such expenses shall be reimbursed and accounted for in accordance with the policies and procedures presently established by Atlantic Holdings.
This Agreement shall not become effective until the Secretary of Atlantic Holdings and the Secretary of Atlantic Power each has delivered to the Executive a duly signed certificate certifying that this Agreement and all of its terms have been duly approved by the Board of Directors of their respective companies.
No delay or omission by Atlantic Power or Atlantic Holdings in exercising any right under this Agreement shall operate as a waiver of that or any other right.
The purpose of the LTIP is to align the interests of eligible persons (such as Executive) with those of income participating securities (IPS) holders (or, following the conversion of Atlantic Power from an IPS structure to a common share structure, holders of common shares) and to assist in attracting, retaining and motivating key employees of Atlantic Holdings.
The Company has no subsidiaries other than Atlantic Holdings and Ace.
A waiver or consent given by Atlantic Power or Atlantic Holdings on any one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion.
Lump sum cash payments made under Section 5 by Atlantic Holdings to the Participant in respect of Transition Notional Shares to be redeemed shall be calculated by multiplying the number of Transition Notional Shares to be redeemed by the Market Price per Common Share as at the Vesting Date, converted into United States dollars based on the closing rate of exchange published by the Bank of Canada on the Vesting Date.