Separation Effective Date definition
Examples of Separation Effective Date in a sentence
Effective as of the Separation Effective Date, the Base Salary theretofore in effect shall be adjusted as provided in Section 5(E).
On the Separation Effective Date, the Administrative Agent and the Lenders consent to the Spin-Off or, if applicable, the Disposition.
Wyndham Worldwide hereby agrees that if the Separation Effective Date occurs, then it is and will be bound by any and all judgments, rulings or other binding determinations made on or before the Separation Effective Date with respect to the obligations arising under this Guaranty whether such judgments, rulings or other binding determinations were made against Cendant, Wyndham Worldwide or both such Performance Guarantors and will fully comply with and fulfill the terms thereof.
Executive acknowledges and understands that any revocation of this Separation Date Release must be accomplished by a written notification to the person executing this Separation Date Release on the Company’s behalf that is received prior to the Separation Effective Date.
Prior to the Separation Effective Date, the obligations of Cendant and Wyndham Worldwide hereunder are joint and several obligations, subject, however, to enforcement only as provided in this Section 2 and provided that all of Cendant’s obligations under this Guaranty, without regard to when such obligations arose, shall terminate as provided in this Section 2.
On and after the Separation Effective Date, all actions, payments or agreements, including, without limitation, the obligations referred to in the proviso of Section 2(a), which are to be taken, made or fulfilled hereunder shall be taken, made or fulfilled by Wyndham Worldwide and shall be enforceable only against Wyndham Worldwide without regard to when such obligations arose or against whom such obligation was sought to be enforced.
The obligations of Cendant and of Wyndham Worldwide under this Guaranty are independent of the Obligations, and a separate action or actions may be brought and prosecuted, prior to the Separation Effective Date against Cendant, and on and after the Separation Effective Date, against Wyndham Worldwide to enforce this Guaranty, irrespective of whether any action is brought against WCF, Trendwest, or the Issuer, or whether WCF, Trendwest or the Issuer is joined in any such action or actions.
As between Cendant and Wyndham Worldwide, Cendant agrees that, any actions, payments or agreements which are to be taken, made or fulfilled prior to the Separation Effective Date shall be taken, made or fulfilled by Cendant.
On and after the Separation Effective Date, Cendant shall be and hereby is absolutely released from any and all obligations under this Guaranty, and on and after the Separation Effective Date, Cendant will not be liable for any past, present or future obligations under this Guaranty and will no longer be a party to this Guaranty or be bound by this Guaranty.
Effective as of the Separation Effective Date, the Credit Agreement is hereby amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the double-underlined text (indicated textually in the same manner as the following example: double-underlined text) as set forth on Exhibit A attached hereto.