Control Time definition

Control Time has the meaning assigned to such term in Section 7.1.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Control Time shall have the meaning set forth in Section 5.1(a).

Control Time. Section 1.3(a) "Copyrights" Section 9.5 "Covered Persons" Section 6.5(a) "D&O Insurance" Section 6.5(d) "Designation Date" Section 5.1 "DGCL" Recitals "Disabling Code" Section 3.15(n) "Dissenting Shares" Section 2.3(a) "Effect" Section 9.5 "Effective Time" Section 1.5

Examples of Control Time in a sentence

• Prior to the Control Time, the Company will exercise, consistent with the terms and conditions of this Agreement, complete control and supervision over its and its Subsidiaries’ respective operations.

• Nothing contained in this Agreement will give Parent, directly or indirectly, the right to control or direct the Company’s or any of its Subsidiaries’ operations prior to the Control Time.

• The Offeror Parties hereby agree that from and after the Control Time, the Offeror Parties will undertake efforts to assist the Company in refinancing such indebtedness (which shall include making loans to the Company on customary terms if necessary) to the extent necessary.

• Prior to the Control Time, the Company shall exercise, consistent with the terms and conditions of this Agreement, complete control and supervision over its and its Subsidiaries’ respective operations.

• Parent will, and will cause the Surviving Corporation and its Subsidiaries, for the calendar year in which the Control Time occurs, to give such Current Employees credit under such employee benefit plans for co-payments made and deductibles and maximum out-of-pocket limitations in respect of the year in which the Control Time occurs.

• Nothing contained in this Agreement shall give Parent, directly or indirectly, the right to control or direct the Company’s or its Subsidiaries’ operations prior to the Control Time.

• The Company hereby agrees that from and after the Control Time, the Company will take all necessary actions to comply with the requirements of the operative documents with respect to clauses (a), (b) and (c) above.

• Following the Control Time, nothing contained in this Section 6.4 shall interfere with Parent, the Surviving Corporation or any of its or their Subsidiaries’ or Affiliate’s right to terminate the employment of any employee for any reason.

• In addition, without limiting the foregoing, (i) each Continuing Employee shall be eligible to receive the severance benefits set forth in Schedule 6.2 in the event such Continuing Employee is terminated without cause at any time before the first anniversary of the Control Time, (ii) Parent shall assume and honor the terms of the agreements set forth in Schedule 6.2 and (iii) Parent shall honor those base salary or base hourly rate merit increases set forth in Schedule 6.2.

• Nothing contained in this Agreement will give Parent, directly or indirectly, the right to control or direct the Company’s or its Subsidiaries’ operations prior to the Control Time.

More Definitions of Control Time

Control Time means the earlier of (i) such time as Purchaser Designees first constitute at least a majority of the Board of Directors of the Company pursuant to Section 1.3, and (ii) the Effective Time.

Control Time means the earlier of (i) such time as Purchaser Designees first constitute at least a majority of the Company Board, and (ii) the Effective Time.

Control Time means the earlier of (i) such time as Newco Designees first constitute at least a majority of the Board pursuant to Section 1.02(d) and (ii) the Effective Time;