Valvoline Separation definition

Valvoline Separation means the borrowing by the Valvoline Borrower of at least $750 million of Indebtedness permitted by Section 7.02(m) hereof and the application of the Net Cash Proceeds thereof to repay the Loans and/or reduce the unfunded Revolving Credit Commitments in accordance with Section 2.05(b).
Sample 1

Related to Valvoline Separation

  • Separation shall have the meaning set forth in the Recitals.

  • SpinCo shall have the meaning set forth in the Preamble.

  • ITT means the Purchaser’s invitation to tender dated (date ITT issued).

  • RemainCo shall have the meaning set forth in the Preamble.

  • SpinCo Separate Return means any Tax Return of or including any member of the SpinCo Group (including any consolidated, combined, or unitary return) that does not include any member of the Parent Group.

  • Separation Plan means the Company’s Separation Plan Amended and Restated Effective August 13, 2006, as may be amended from time to time or any successor plan, program, arrangement or agreement thereto.

  • Retained Employee does not include any individual who has a direct or an indirect ownership interest of at least five percent (5%) in the profits, equity, capital, or value of the Taxpayer, or a child, grandchild, parent, or spouse, other than a spouse who is legally separated from the individual, of any individual who has direct or indirect ownership interest of at least five percent (5%) of the profits, equity, capital or value of the Company.

  • Retained Employees has the meaning set forth in Section 6.1.1.

  • SpinCo Employee means any individual who, immediately following the Distribution Date, will be employed by Spinco or any member of the Spinco Group in a capacity considered by Spinco to be common law employment, including active employees and employees on vacation and approved leaves of absence (including maternity, paternity, family, sick, short-term or long-term disability leave, qualified military service under the Uniformed Services Employment and Reemployment Rights Act of 1994, and leave under the Family Medical Leave Act and other approved leaves).

  • Separation Date has the meaning set forth in the Separation Agreement.

  • SpinCo Group means (a) prior to the Effective Time, SpinCo and each Person that will be a Subsidiary of SpinCo as of immediately after the Effective Time, including the Transferred Entities, even if, prior to the Effective Time, such Person is not a Subsidiary of SpinCo; and (b) on and after the Effective Time, SpinCo and each Person that is a Subsidiary of SpinCo.

  • Separation Time means the close of business on the tenth Trading Day after the earlier of:

  • SpinCo Business has the meaning set forth in the Separation and Distribution Agreement.

  • New Employer means, after a Change in Control, a Participant’s employer, or any direct or indirect parent or any direct or indirect majority-owned subsidiary of such employer.

  • Motorola means Motorola, Inc., a Delaware corporation.

  • Wireline means a cable containing one or more electrical conductors which is used to lower and raise logging tools in the well-bore.

  • Company Service means the Company's email, Internet, security management services provided to End Users for the purposes of conducting Company's internal business.

  • Transferred Employee has the meaning set forth in Section 6.01(a).

  • Remainco Group means RemainCo and its Subsidiaries, other than the SpinCo Group.

  • New employee means a Full-Time Employee first employed by the Company in the Project and who is hired on or after the Effective Date of this Agreement.

  • COVID-19 means SARS-CoV-2 or COVID-19, and any evolutions or mutations thereof or related or associated epidemics, pandemic or disease outbreaks.