Divorce Event definition

Divorce Event has the meaning set forth in Section 10.5(a) hereof.
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Examples of Divorce Event in a sentence

  • If the spouse (“Spouse”) of any Member (“Divorced Member”) is awarded all or any portion of the Divorced Member’s Interest in the Company (the “Awarded Interest”) as the result of the final settlement or entry of a final interlocutory decree of dissolution of marriage or any modification thereof (a “Divorce Event”), then the Divorced Member shall give written notice to the other Members no later than ten (10) days following the occurrence of such Divorce Event.

  • The Company must give written notice of that Stockholder’s intent to exercise the Divorce Option within 90 days after the Company receives written notice of the occurrence of the Divorce Event (the “Divorce Notice Period”).

  • In the event the redemption is the result of a Divorce Event, the Descendant of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ and ▇▇▇▇ ▇▇▇▇▇▇▇ who was the spouse of the Redeemed Person (whether or not then a Member) (the Divorced Descendant) shall have the first option among the Members to purchase the Redeemed Person’s Interest.

  • Notwithstanding the foregoing, in the event the proposed Transfer of the Offered Interest is the result of a Divorce Event, the transferring Member who was the spouse of the proposed transferee shall have the first option to purchase the Offered Interest.

  • Notwithstanding the foregoing, if the proposed Transfer is the result of a Divorce Event, the period of 15 years shall be reduced to 5 years.

  • Upon the occurrence of a divorce of a Stockholder in which the Stockholder does not retain the entire interest in the Company owned by the Stockholder prior to such divorce (a “Divorce Event”), the Company shall have the right, but not the obligation, to purchase all Capital Stock with respect to which the Divorce Event occurred, on the terms and conditions set forth in this Section 2(d)(i) (the “Divorce Option”).

Related to Divorce Event

  • Divorce shall refer to the dissolution of the marriage between the Couple. A Divorce is certified through a judgment, decree, or similar document that validates the dissolution of marriage in the jurisdiction of Governing Law.

  • Notice Event means any of the events enumerated in paragraph (b)(5)(i)(C) of the Rule and listed in Section 4(a) of this Disclosure Agreement.

  • Divorce or annulment means a divorce or annulment, or a dissolution or declaration of invalidity of a marriage, that would exclude the spouse as a surviving spouse within the meaning of section 2801. A decree of separation that does not terminate the status of husband and wife is not a divorce for purposes of this section and sections 2807 to 2809.

  • Qualifying Termination means a termination of the Executive’s employment either (i) by a Company Group member without Cause (excluding by reason of Executive’s death or Disability) or (ii) by the Executive for Good Reason, in either case, during the Change in Control Period (a “Qualifying CIC Termination”) or outside of the Change in Control Period (a “Qualifying Non-CIC Termination”).

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.