SELECT Event definition
Examples of SELECT Event in a sentence
At the expiration of this Agreement, other than a termination by COMPANY due to the occurrence of a SELECT Event, COMPANY will abandon all ownership, right, title or ownership in or to the Contracts and SELECT may freely solicit for service all Customers serviced under this Agreement.
COMPANY may immediately terminate this Agreement upon the occurrence of a SELECT Event and all payments under this Agreement will immediately, without any further action required, accelerate in accordance with Section G.1.3. SELECT may immediately terminate this Agreement upon the occurrence of a COMPANY Event.
Subject to the following sentence, upon the occurrence of a SELECT Event, SELECT shall pay the COMPANY (a) $12,000,000, less monthly Fee payments made prior to or on August 20, 2009, if the SELECT Event occurs prior to August 20, 2009, or (b) $6,000,000, less monthly Fee payments made on or after August 21, 2009, if the SELECT Event occurs anytime during the period beginning on August 21, 2009 and ending after the final Fee payment is paid.
Upon the occurrence of a SELECT Event, SELECT shall pay the COMPANY the present value (discounted at three-quarters of a percent (0.75%) per month) of (a) $16,800,000, plus (b) the amounts earned from New Business, but minus (c) the amount of Claw Back and any previous payments hereunder and any payments owed to COMPANY as of the date of the occurrence of the SELECT Event.