Rescission Event has the meaning set forth in Section 5.1.
Rescission Event with respect to the Assets means (a) the determination by any court, regulatory body, administrative agency, governmental body, arbitrator or other authority agency or regulatory authority that the TRMC Contribution (i) is void or invalid or (ii) requires a governmental approval with respect to the transfer of the Tankage or the Avon Wharf Pipeway which was not obtained by TRMC prior to such determination, and, in case of either clause (i) or clause (ii), which TRMC fails to cure within twenty-four (24) months following such determination; or (b) the revocation, termination or TRMC’s material breach of the License Agreement.
Examples of Rescission Event in a sentence
Upon the occurrence of a Rescission Event that has not been cured, regardless of the time period set forth in Section 5.1(a), the Operating Company shall have the right, but not the obligation, to rescind the Partnership Contribution and the TRMC Contribution by providing written notice to TRMC.
If due to a Delay Event or Rescission Event, the Buyer or the Seller is unable to complete within three (3) calendar months of the first notified Delay Event or Rescission Event, then either the Buyer or the Seller may rescind this contract at any time after that date.
The mailing included a copy of the survey, a postage-paid business reply envelope, and a form to fill out to participate in a raffle to win one of four gift cards (valued at $100, $50, and two at $25).
More Definitions of Rescission Event
Rescission Event any of the events set out in clause 7 below. The Seller and the Buyer agree that all of the provisions in the Original Agreement (as varied by this agreement) are hereby deemed to be incorporated in this agreement:
Rescission Event has the meaning set forth in Section 5.1. “Second Closing Date” has the meaning set forth in Section 2.8(b). “Second Closing Purchase Price” means $178,387,434.
Rescission Event any of the events set out in clause 6 below. If the Buyer or Seller are unable to complete on the Completion Date, because one or more of the Delay Events set out in (a) to (d) below apply, then the Completion Date shall be deferred to a date fixed by agreement between the Seller and the Buyer (both acting reasonably in all circumstances), subject to clause 3 below. the Buyer or Seller, or an occupier of The Property, is complying with or endeavouring to comply with the Regulations, or UK Government guidance, requirements or restrictions relating to Coronavirus; essential services suppliers (e.g. removal services, HM Land Registry providing pre-completion searches, utility connections etc.) are complying with or endeavouring to comply with the Regulations, or UK Government guidance, requirements or restrictions relating to Coronavirus where their resulting actions or omissions prevent the Buyer or Seller effecting legal completion; the UK financial system (or a relevant part of it) fails to deliver the balance of purchase monies to the Seller on completion as required to effect legal completion of this sale and purchase as a result of issues relating to Coronavirus; any failure to deliver funds to the Buyer’s conveyancer, as a result of issues relating to Coronavirus, by any institution (including HCA for Help to Buy) providing finance needed for the purposes of performing the Agreement. If a new Completion Date cannot be mutually agreed, the Completion Date shall become the date [x/xx] working days after the date on which the Delay Event ceases to apply PROVIDED THAT if the parties, acting reasonably, do not agree that the Delay Event has ceased to apply, then the completion date shall be the date [x/xx] working days after the Completion Date. If the Completion Date is deferred pursuant to the terms of this Agreement, it is hereby agreed that neither the Buyer nor Seller shall be in breach of the Agreement nor liable for any delay in performing, or failure to perform, any of its obligations thereunder. In particular (but not limited to) neither the Buyer nor the Seller shall be liable to pay any sums by way of interest or compensation to the other in respect of late completion and neither Buyer nor Seller may serve notice to complete during the period in which completion is deferred. The Seller and the Buyer will both use their reasonable endeavours to mitigate and minimise the extent of any delay arising from a Delay Event. For the purposes of this Agree...
Rescission Event with respect to the Tankage, means (a) the determination by any court, regulatory body, administrative agency, governmental body, arbitrator or other authority agency or regulatory authority that the TRMC Contribution (i) is void or invalid or (ii) requires a governmental approval with respect to the transfer of the Tankage which was not obtained by TRMC prior to such determination, and, in case of either clause (i) or clause (ii), which TRMC fails to cure within twenty-four (24) months following such determination; or (b) the revocation, termination or TRMC’s material breach of the License Agreement.
Rescission Event means the following actions if taken pursuant to a Required Vote:
Rescission Event means the occurrence of any of the following events without the Executive's written consent: (A) any reduction in the Executive's base salary, annual target bonus opportunity or annual long term incentive opportunity, in each case, as in effect on the date hereof, (B) a relocation of 20 miles or more of the Executive's primary place of employment on the date hereof, (C) the failure for any reason of Xxxxx Xxx to serve (I) as Chief Executive Officer of the Company prior to consummation of the Transactions or (II) as Chief Executive Officer of the ultimate parent company of the Company (or its successor) after the consummation of the Transaction, (D) as of the one year anniversary of the consummation of the Transactions there shall be any material diminution or adverse change to the Executive's titles, duties, responsibilities or reporting requirements from those in effect as of the date hereof (whether or not such a diminution exists prior to the one year anniversary of the consummation of the Transactions so long as the Executive's titles, duties, responsibilities and reporting requirements are restored prior to such one year anniversary); provided further that a "Rescission Event" shall not be deemed to exist pursuant to Clauses (A) or (B) unless the Executive provides the Company with written notice within 30 days of the occurrence of the event that purportedly constitutes the Rescission Event or pursuant to (D) unless the Executive provides the Company with written notice within 30 days after the first anniversary of the consummation of the Transactions of the event that purportedly constitutes the Rescission Event and the Company or its affiliates fails to fully cure any such event within 10 business days of receipt of such notice;
Rescission Event. As defined in Section 1(b)(8) of the Agreement.