Run-Down Period definition
Run-Down Period means the 12 month period commencing on the effective date of termination.
Run-Down Period has the meaning given to it in the Decommissioning Security Agreement. “Second Term” means the term of years specified in the Licence as being the period for which the Licence may be continued next after the expiry of the Initial Term. “Secretary” means in relation to the Licence, the “Minister” as defined therein, or, in relation to the exercise of functions under the Acts, the person designated to exercise such functions, as the case may be. “Senior Managerial Personnel” means in relation to any Participant, any person employed by it or any of its Affiliates as a director or other corporate officer or senior manager. For the purposes of this definition, “senior manager” shall mean only: