Restriction Release Date definition

Restriction Release Date means such date, after the Effective Date, that the Board of Directors determines in good faith that it is in the best interests of the Corporation and its stockholders for the transfer restrictions set forth in this Article FOURTH to terminate.

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Restriction Release Date means the earliest of:

Restriction Release Date means the earlier of (i) the repeal of Section 382 of the Code (and any comparable successor provision) and (ii) the earliest date on which the Board of Directors determines that (1) an ownership change (within the meaning of Section 382 of the Code) would not result in a substantial limitation on the ability of the Corporation (or a direct or indirect subsidiary of the Corporation) to use otherwise available Tax Benefits, or (2) no significant value attributable to the Tax Benefits would be preserved by continuing the Transfer restrictions herein.

Examples of Restriction Release Date in a sentence

• After the Restriction Release Date, PTI shall have no responsibility in connection with the maintenance of the Colonial Conduit.

• Within (x) six (6) months (if during the first year of this Agreement), or (y) two (2) months (if after the first year of this Agreement) after Colonial has knowledge that there will not be a Colonial Conduit available in a particular Segment or portion of the Colonial System, Colonial may deliver written notice to PTI (the "Equivalency Request Notice"), designating the nature and type of equivalency that Colonial requests to receive from and after the Restriction Release Date.

• The “Final Expiration Date,” as used in this Rights Agreement, shall be the Restriction Release Date.

• Notwithstanding any other provision of the Plan or this Agreement to the contrary, prior to the Restriction Release Date (as defined below), the Company may restrict the settlement of the Award in shares of Common Stock if, at the time of such settlement, the Company has more than 450 “holders of record” (as understood for purposes of Section 12(g) of the Exchange Act) of shares of Common Stock.

• During the period beginning on the Restriction Release Date and ending on the tenth (10th) anniversary of the Lease Date, in the event that Colonial desires to Dispose of the Colonial Conduit, in whole or in part, Colonial shall provide written notice to PTI describing the terms of such Disposition, including the price of the Disposition, the term of any lease or license, and the identity of the proposed transferee (the "Notice of Terms").

More Definitions of Restriction Release Date

Restriction Release Date means the earliest of (i) any date after the Effective Date if the Board in good faith determines that it is in the best interests of the Corporation and its stockholders for the ownership and transfer limitations set forth in this Article XIV to expire, (ii) the beginning of a taxable year of the Corporation as of which no Tax Benefits are available or (iii) the third anniversary of the Corporation’s initial public offering.

Restriction Release Date means the earlier of December 31, 2024, the repeal of Section 382 of the Internal Revenue Code of 1986, as amended (the “Code”) (and any comparable successor provision) (“Section 382”), or the beginning of a taxable year of the Corporation (or any successor thereof) to which no Tax Benefits may be carried forward.

Restriction Release Date means, as determined by the Board in its sole discretion, the earlier to occur of (x) the five-year anniversary of the effective date of this Bye-law 62(3) (the “Expiration Time”), (y) the repeal of Section 382 of the Internal Revenue Code of 1986, as amended (the “Code”) (and any comparable successor provision) (“Section 382”), or (z) the beginning of a taxable year of the Company (or any successor thereof) to which no Tax Benefits may be carried forward; provided, that, the Board may in its sole discretion resolve from time to time to extend the Expiration Time for up to an additional five years.

Restriction Release Date means the earlier of (x) September 13, 2011, or (y) such other date as the Board of Directors may determine in good faith that this Article Fourteen is no longer in the best interests of the Corporation and its shareholders.

Restriction Release Date means such date, after the Effective Date, that (i) the 2010 annual meeting of stockholders of the corporation is concluded if the Charter Amendment has not been approved and adopted by the stockholders, or (ii) constitutes the Restriction Release Date under the Charter Amendment.

Restriction Release Date means the earlier of (i) the first day after the date on which a majority of the Board of Directors determines that the restrictions contained in this Article XV are no longer necessary for the preservation of the Tax Benefits, (ii) the first day after the date on which a majority of the Board of Directors determines that it is no longer in the best interests of the Corporation and the shareholders for the restrictions contained in this Article XV to continue to apply, (iii) November 10, 2013 or (iv) the repeal of Section 382 of the Code.

Restriction Release Date means the earliest of (a) the tenth anniversary of the Effective Date, (b) the repeal, amendment or modification of Section 382 in such a way as to render the restrictions imposed by Section 382 no longer applicable to the Corporation, (c) the beginning of a taxable year of the Corporation in which no Tax Benefits are available, (d) the determination by the Board that the provisions of this Article FIFTH shall not apply, (e) a determination by the Board or the Internal Revenue Service that the Corporation is ineligible to use Section 382(l)(5) of the Code permitting full use of the Tax Benefits existing as of the Effective Date, and (f) an election by the Corporation for Section 382(l)(5) of the Code not to apply.