Sunset Term definition
Sunset Term means, in respect of any Matter, a period ending 12 months following the expiry of the Engagement Term, provided that, for any litigation or arbitration proceeding in respect of which the trial hearing commenced prior to the expiry of the Engagement Term, the Sunset Term will not expire until 12 months following the date on which a final judgement is obtained or the date of a final and binding settlement disposing of such Matter, as the case may be.
Examples of Sunset Term in a sentence
All amounts payable to the Manager during the Sunset Term shall be made within ten (10) business days of receipt by the Company or KonaTel of the amounts pursuant to which such payment has accrued, and will be made in U.S. dollars and sent (or confirmation of wire transfer sent) to the Manager at its principal place of business or to such other address as it may specify by notice to the Company or KonaTel from time to time.