Special Resolution Event definition
Special Resolution Event means any of the following occurring in relation to any Participant, its parent company (whether direct or indirect) or ultimate holding company:
Special Resolution Event means, with respect to a BRRD Institution, the occurrence of an insolvency, resolution, or other similar proceeding or event, including pursuant to recovery and resolution, special administration, special resolution regime or analogous applicable laws or regulations.
Special Resolution Event affecting either Party shall mean: a bankruptcy, insolvency, liquidation, receivership or unwinding, merger, re-organization or any other similar resolution proceeding or transaction.
Examples of Special Resolution Event in a sentence
In the event of a Special Resolution Event, or if Fund or NPM terminates the Agreement as permitted herein, Fund will use all reasonable efforts to transition Fund off of the NPM Platform and wind down any existing NPM Services, and NPM shall provide reasonable assistance to Fund to aid in such transition.
Kyndryl acknowledges that the occurrence of a Special Resolution Event does not, in and of itself, constitute a material breach giving rise to Kyndryl's termination for cause rights with respect to the Agreement, provided that the Customer continues to fulfill its substantive obligations under the Agreement (as such term is understood for the purposes of Article 68 of the BRRD), including payment obligations.