Rollout Event definition

Rollout Event means, with respect to each Policy separately, the latest to occur of the following: (i) the fifteenth anniversary of the Employee’s commencement of coverage under the Policy; or (ii) the Employee’s Retirement.
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Rollout Event has the meaning given to it in Section 7.02.
Sample 1

Examples of Rollout Event in a sentence

  • Any benefit payments to a Participant shall generally commence as soon as practicable following the occurrence of a Rollout Event.

  • Upon the occurrence of a Rollout Event with respect to a Policy, the Employer shall: (i) recover the Employer Premiums on the Policy; (ii) pay the full amount of any outstanding indebtedness obtained by the Employer that is secured by such Policy; and (iii) take such steps as are appropriate to transfer ownership of the Policy to the Employee.

  • If the Rollout Event is the Employee’s Retirement, or if the fifteenth anniversary of the Employee’s commencement of coverage under the Policy occurs within six months after the Employee’s Retirement, the Employer shall take the foregoing steps immediately following the sixth month anniversary of the Employee’s Retirement.

  • It is intended that the Policies will allow the insured party to designate the beneficiary for life insurance proceeds equal to three times the insured party’s Base Salary should the insured party die prior to a Rollout Event.

  • The Employer and an Employee can mutually agree to amend the Employee’s rights in this Plan, provided that no such amendment may change the definition of a Rollout Event or the obligations of the Employer following a Rollout Event, nor shall any such amendment otherwise cause the Plan not to comply with Section 409A of the Internal Revenue Code and applicable regulations thereunder.

  • If a Rollout Event is declared, the Plan Administrator shall take such steps as are appropriate to effect payment of benefits under the Plan as soon as administratively practicable.

  • It is intended that the Policies will allow the insured party to designate the beneficiary for life insurance proceeds that exceed cumulative premiums paid by the Employer with respect to the Policies should the insured party die prior to a Rollout Event.

  • The Plan Administrator, in its discretion, may declare a Rollout Event to occur with respect to a Participant on the latest of (i) the fifteenth (15th) anniversary of the Participant’s Commencement Date, (ii) Participant’s attainment of age sixty (60), or (iii) the Participant’s Retirement or becoming Permanently Disabled.

  • The Plan Administrator, in its discretion, may also declare a Rollout Event to occur with respect to a Participant on or as of a date following the Participant’s engaging in a Competitive Activity during the one-year period following his or her termination of employment but before benefit payments under the Plan have otherwise commenced.

  • The Plan Administrator, in its discretion, may also declare a Rollout Event to occur with respect to a Participant on or as of a date following the Participant's engaging in a Competitive Activity during the one-year period following his or her termination of employment but before benefit payments under the Plan have otherwise commenced.

Related to Rollout Event

  • Put Event means the occurrence of any of the following:

  • Acquisition Event means a merger or consolidation in which the Company is not the surviving entity, any transaction that results in the acquisition of all or substantially all of the Company’s outstanding Common Stock by a single person or entity or by a group of persons and/or entities acting in concert, or the sale or transfer of all or substantially all of the Company’s assets.

  • Pay Out Event means any Pay-Out Event specified in Section 6.01.

  • Knock-out Event means the event as defined in §4(4).

  • Partnership Change of Control means Tesoro Corporation ceases to Control the General Partner.

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Dissolution Event means (i) a voluntary termination of operations, (ii) a general assignment for the benefit of the Company’s creditors or (iii) any other liquidation, dissolution or winding up of the Company (excluding a Liquidity Event), whether voluntary or involuntary.

  • Company Triggering Event means: (i) the failure of the Board of Directors of the Company to recommend that the Company's stockholders vote to adopt this Agreement, or the withdrawal or modification of the Company Board Recommendation in a manner adverse to Parent, or the Board of Directors shall have taken any other action that is or becomes disclosed publicly or to a third party, which indicates that the Board of Directors of the Company does not support the Merger or does not believe that the Merger is in the best interests of the Company's stockholders; (ii) the Company shall have failed to include in the Proxy Statement the Company Board Recommendation or a statement to the effect that the Board of Directors of the Company has determined and believes that the Merger is in the best interests of the Company's stockholders; (iii) an Acquisition Proposal is publicly announced and the Board of Directors of the Company fails to reaffirm without qualification the Company Board Recommendation, or fails to publicly state without qualification, that the Merger is in the best interests of the Company's stockholders, within five business days after Parent requests in writing that such action be taken; (iv) the Board of Directors of the Company shall have approved, endorsed or recommended any Acquisition Proposal; (v) the Company shall have failed to comply with Section 5.04 in any material respect; (vi) a tender or exchange offer relating to securities of the Company shall have been commenced and the Company shall not have sent to its securityholders, within ten business days after the commencement of such tender or exchange offer, a statement disclosing that the Board of Directors recommends rejection of such tender or exchange offer; (vii) an Acquisition Proposal is publicly announced, and the Company fails to issue a press release announcing its opposition to such Acquisition Proposal within ten business days after such Acquisition Proposal is announced; or (viii) either the Company or any of its subsidiaries or any their Representatives shall have breached any of the provisions set forth in Section 5.04 (in any material respect) or Section 6.15.

  • Replacement Event shall have the meaning specified in Section 11.16.

  • Reinvestment Event any Asset Sale or Recovery Event in respect of which the Borrower has delivered a Reinvestment Notice.

  • Capital Event means and includes: (i) any transaction involving the sale, exchange or other disposition of the Project or the Company (but excluding any incidental sales or exchanges of tangible personal property and fixtures), (ii) any financing, refinancing or borrowing secured by the Project or the Company, and (iii) any condemnation or recovery of damage awards and property insurance proceeds (excluding proceeds from any rent or business interruption insurance).

  • Optimal Adjustment Event With respect to any Class of Class B Certificates and any Distribution Date, an Optimal Adjustment Event will occur with respect to such Class if: (i) the Principal Balance of such Class on the Determination Date succeeding such Distribution Date would have been reduced to zero (regardless of whether such Principal Balance was reduced to zero as a result of principal distribution or the allocation of Realized Losses) and (ii) (a) the Principal Balance of any Class of Class A Certificates would be subject to further reduction as a result of the third or fifth sentences of the definition of Principal Balance or (b) the Principal Balance of a Class of Class B Certificates with a lower numerical designation would be reduced with respect to such Distribution Date as a result of the application of clause (ii) of the definition of Class B-1 Principal Balance, Class B-2 Principal Balance, Class B-3 Principal Balance, Class B-4 Principal Balance, Class B-5 Principal Balance or Class B-6 Principal Balance.

  • Incipient Event of Termination means an event that but for notice or lapse of time or both would constitute an Event of Termination.

  • Change of Control Repurchase Event means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

  • Public event means any event that can be attended by the

  • Payment Event means any of the following:

  • Potential Adjustment Event means any of the following:

  • Value Adjustment Event means, with respect to any Loan Asset, the occurrence of any one or more of the following events after the related Cut-Off Date:

  • Initial Triggering Event means any of the following events or transactions occurring after the date hereof:

  • Acquisition Period means any period commencing on the date that a Material Acquisition is consummated through and including the last day of the second full fiscal quarter following the date on which such acquisition is consummated; provided that there shall be at least one full fiscal quarter between any two Acquisition Periods.

  • Disposition Event means any merger, consolidation or other business combination of the Corporation, whether effectuated through one transaction or series of related transactions (including a tender offer followed by a merger in which holders of Class A Common Stock receive the same consideration per share paid in the tender offer), unless, following such transaction, all or substantially all of the holders of the voting power of all outstanding classes of Common Stock and series of Preferred Stock that are generally entitled to vote in the election of Directors prior to such transaction or series of transactions, continue to hold a majority of the voting power of the surviving entity (or its parent) resulting from such transaction or series of transactions in substantially the same proportions as immediately prior to such transaction or series of transactions.

  • Change of Control means the occurrence of any of the following events:

  • Relevant Event means any Termination Event, Mandatory Prepayment Event or Further Novation Event, or any event which only with the passage of time, the giving of any notice or the fulfilment of any other condition (or a combination thereof) would constitute a Termination Event, Mandatory Prepayment Event or Further Novation Event;

  • Fall Away Event means such time as the Notes shall have an Investment Grade Rating and the Company shall have delivered to the Trustee an Officers’ Certificate certifying that the foregoing condition has been satisfied.

  • Ownership Change Event means the occurrence of any of the following with respect to the Company: (i) the direct or indirect sale or exchange in a single or series of related transactions by the stockholders of the Company of securities of the Company representing more than fifty percent (50%) of the total combined voting power of the Company’s then outstanding securities entitled to vote generally in the election of Directors; (ii) a merger or consolidation in which the Company is a party; or (iii) the sale, exchange, or transfer of all or substantially all of the assets of the Company (other than a sale, exchange or transfer to one or more subsidiaries of the Company).

  • Application Event means the occurrence of (a) a failure by Borrowers to repay all of the Obligations in full on the Maturity Date, or (b) an Event of Default and the election by Agent or the Required Lenders to require that payments and proceeds of Collateral be applied pursuant to Section 2.4(b)(iii) of this Agreement.