Definition of TBS Commercial/Beacon Holdings Option Agreement


TBS Commercial/Beacon Holdings Option Agreement means that certain option agreement between TBS Commercial, Beacon Holdings and New TBS Parent pursuant to which New TBS Parent shall have the option until June 30, 2012 to require TBS Commercial and Beacon Holdings to dissolve foreign operations, close foreign offices used exclusively by TBS Commercial or Beacon Holdings, and use reasonable efforts to transition the workforce of TBS Commercial and Beacon Holdings to New TBS Parent or one or more of its direct and indirect subsidiaries (to the extent requested by New TBS Parent), in each case pursuant to the terms and conditions of the TBS Commercial/Beacon Holdings Option Agreement. The TBS Commercial/Beacon Holdings Option Agreement will be substantially in the form filed in the Plan Supplement and substantially in accordance with the terms set forth in the TBS Commercial Term Sheet.
Sample 1

Examples of TBS Commercial/Beacon Holdings Option Agreement in a sentence

The TBS Commercial Agreement implements the TBS Commercial/Beacon Holdings Option Agreement and is approved.