VRP Termination and Release Agreements definition

VRP Termination and Release Agreements mean the receipts and releases executed by each individual listed on Schedule 2.3(b)(iii), by which each such individual acknowledges the termination of the VRP, accepts his respective VRP Payment in complete satisfaction of any and all claims he may have under the VRP and releases the Company from any further liability with respect to the VRP in a form substantially similar to the form attached hereto as Exhibit C.
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Examples of VRP Termination and Release Agreements in a sentence

  • Claims shall be further subject to the provisions of Section 7.6; provided, however, that when all VRP Termination and Release Agreements have been obtained and, if applicable, all Claims related to the VRP Termination Payments have been fully and finally settled, any funds remaining in the VRP Holdback shall be distributed to the Stockholders on a pro rata basis.

  • The Parties agree and understand that the Company shall have the responsibility and authority to obtain the VRP Termination and Release Agreements prior to the Closing and that the Stockholder’s Representative shall continue to have such responsibility and authority for up to eighteen (18) months after the Closing with respect to any Non-Executing VRP Participants so long as he continues to actively negotiate and attempt to obtain said VRP Termination and Release Agreement(s).

  • At the expiration of the eighteen month period or in the event that the Stockholders Representative fails to actively negotiate and attempt to obtain any outstanding VRP Termination and Release Agreements, the Parties agree that any such VRP Participants shall be treated as third parties having Claims against the Company and the disposition of such [*] Indicates confidential text omitted and filed separately with the Securities and Exchange Commission.