QUIPS Exchange definition
Examples of QUIPS Exchange in a sentence
If Microsoft consents to the QUIPS Transfer in accordance with the preceding sentence and on any Closing Date specified or determined pursuant to Section 9.18(c) the QUIPS Exchange does not occur, the QUIPS Transfer shall be effected on such Closing Date.
Concurrently with the execution of this Agreement, AT&T and Parent are executing the Admission Agreement pursuant to which AT&T and Parent are (i) agreeing to effect the Exchange and, if necessary, the unwind of the QUIPS Exchange, as provided in the Exchange Agreement, (ii) becoming parties to the Exchange Agreement and (iii) making the representations and warranties referred to in Sections 9.01(b) and 9.01(c), respectively, thereof.
Following the QUIPS Failure Date, AT&T and Comcast will use their commercially reasonable efforts to consummate the QUIPS Exchange.
In the event that the QUIPS Exchange does occur, none of AT&T Broadband and its Affiliates shall have any further liability in respect of the QUIPS notwithstanding anything to the contrary contained herein or in any other Transaction Agreement; provided that this sentence shall not apply if the QUIPS Exchange is unwound pursuant to Section 3.03 of the Exchange Agreement.
If the QUIPS Exchange has been completed and not unwound AT&T will cancel the QUIPS immediately after the Effective Time.