TURNOVER POINT definition

TURNOVER POINT means, subject to completion of the CLOSING, 12:01 AM on November 29, 1995, whereupon the E&PD BUSINESS ITEMS shall be deemed to have been transferred to MACDERMID, and except as otherwise provided herein all sales, profits, losses, and other aspects of the E&PD BUSINESS after such time shall be for the account of or otherwise belong to MACDERMID.
View Source

Examples of TURNOVER POINT in a sentence

  • Upon the completion of the CLOSING, the E&PD BUSINESS shall be deemed to have been turned over to MACDERMID as of the TURNOVER POINT.

  • MACDERMID acknowledges and agrees that all HERCULES INSURANCE is for HERCULES protection only and as of the TURNOVER POINT, MACDERMID shall be responsible for all insurance related to the E&PD BUSINESS and/or the E&PD BUSINESS ITEMS thereafter.

  • The obligation of MACDERMID to effect the TRANSACTIONS shall be subject to the satisfaction or written waiver (where permissible), on and as of the TURNOVER POINT and on and as of the CLOSING DATE, of each and all of the following conditions set forth in Sections 9.1 through 9.13.

  • The obligation of HERCULES to effect the TRANSACTIONS shall be subject to the satisfaction or written waiver (where permissible) on and as of the TURNOVER POINT and on and as of the CLOSING DATE, of each and all of the following conditions set forth in Sections 10.1 through 10.15.

  • MACDERMID shall have received each PERMIT listed in Schedule 9.14 or have received approval from the AUTHORITY having requisite jurisdiction for such PERMIT that MACDERMID may operate the E&PD BUSINESS after the TURNOVER POINT without such PERMIT being in hand.

  • MACDERMID represents and warrants to HERCULES each of the representations and warranties set forth in Sections 6.2 through 6.19 below as of the TURNOVER POINT through the CLOSING.

  • Pursuant to and in accordance with the EMPLOYEE LEASE AGREEMENT and the TRANSITION SERVICES AGREEMENT, the HERCULES' corporate telecommunication system or parts thereof may be used by or for MACDERMID in connection with the conduct of the E&PD BUSINESS after the TURNOVER POINT.

  • During the period from the TURNOVER POINT through the effective point of such transfer of permits, HERCULES shall be deemed to have operated the MIDDLETOWN PLANT for the benefit of MACDERMID.

  • Prior to or as of the TURNOVER POINT, HERCULES shall eliminate all outstanding amounts owing between the E&PD BUSINESS on the one hand, and HERCULES or any of its AFFILIATES (other than the E&PD BUSINESS) on the other hand, in such manner that the E&PD BUSINESS will incur no liability to HERCULES or any of its AFFILIATES by reason of the elimination of such intercompany accounts and, provided, that such elimination shall not reduce the PURCHASED ASSETS or increase the ASSUMED LIABILITIES.

  • None of such policies, programs or insurance shall accrue to MACDERMID's benefit or be applicable to the E&PD BUSINESS and/or any of the E&PD BUSINESS ITEMS after the TURNOVER POINT.

Related to TURNOVER POINT

  • Turnover Plan means the written plan developed by Contractor, approved by HHSC, and to be employed when the Work described in the Contract transfers to HHSC, or its designee, from the Contractor.

  • Standard Turnover means the turnover achieved between the date of commencement of your business and the date of the damage, converted to the selected indemnity period.

  • Turnover Date means the earliest of the following dates:

  • R-point means a reference point defined for each seat by the manufacturer in relation to the vehicle's structure, as indicated in Annex 6 to Regulation No.94

  • Service Control Point (SCP) is the node in the common channel signaling network that accepts Queries for certain Database services. The SCP is a real time database system that receives Queries from service platforms, performs subscriber or application-specific service logic, and then sends a Response back to the Query-originating platform. Such service platforms can be Service Switching Points (SSPs) or other network nodes capable of properly formatting and launching Queries.