The SIP Sample Clauses

The SIP. This Award is issued under the SIP, the terms of which are incorporated in this Award Agreement. Capitalized terms used in this Award Agreement that are not defined in this Award Agreement, or in the attached Glossary of Terms, have the meanings as used or defined in the SIP.
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The SIP. (a) Effective as of the Distribution Date, Solutia shall establish the Solutia SIP and a related, separate trust (the "Solutia SIP Trust"), qualified in accordance with Section 401(a) of the Code and exempt from taxation under Section 501(a) of the Code, which Plan shall include an employee stock ownership plan qualified as such under Section 4975 of the Code, to assume Liabilities of and receive the transfer of assets from the Monsanto SIP and the Monsanto SIP Trust as provided for in this Section 2.2. (b) Monsanto and Solutia shall take all actions as may be necessary or appropriate in order to effect the transfer to the Solutia SIP and the Solutia SIP Trust, on or as soon as practicable after the Distribution Date, of the balances of all accounts established pursuant to and/or governed by the Monsanto SIP of the participants in the Monsanto SIP who are, as of the date of transfer, Solutia Participants other than Retained Solutia Inactive Participants. The transfer of such accounts shall be made (i) in kind, to the extent the assets thereof consist of Employer Securities, and (ii) otherwise in cash, securities, other property or a combination thereof, as agreed by Monsanto and Solutia, but shall be effected, where practicable, in kind, so as to preserve each such participant's investment elections as in effect on the date of such transfer. To the extent the assets transferred to the Solutia SIP in accordance with the foregoing consist of Employer Securities, the portion of such Employer Securities that shall be ESOP Shares shall equal the number of such Employer Securities multiplied by a fraction, the numerator of which is the number of ESOP Shares held in the Monsanto SIP immediately before the Distribution Date and the denominator of which is the number of Shares of Employer Securities held in the Monsanto SIP immediately before the Distribution Date. (c) Effective as of or as soon as practicable after the Distribution Date, one or more of the Existing Monsanto ESOP Securities shall be restructured into two separate obligations, with one of such obligations (each, a "Solutia ESOP Security") being assumable or issued by the Solutia SIP and the remainder thereof (each, a "New Monsanto ESOP Security") being issued by the Monsanto SIP. The aggregate principal amount of the Solutia ESOP Securities shall be as nearly as possible equal to 20 percent of the aggregate principal amount of the Existing Monsanto ESOP Securities immediately before such restructuri...
Sample 1
The SIP. SNC-Lavalin (GB) and Atkins acknowledge and agree that Atkins Shares held in the SIP trust on behalf of the SIP participants will participate in the Scheme (on the same terms as for other Atkins Shareholders). Atkins confirms that as at the date of this Agreement there are no unallocated Atkins Shares held within the SIP trust. As at the date of this Agreement the Atkins No.4 Employee Benefit Trust (the “EBT”) holds 2,464,878 Atkins Shares. Unless all unallocated Atkins Shares have been used to satisfy options and awards vesting and becoming exercisable in the normal course prior to the Acquisition Effective Date, the parties agree that the trustee of the EBT will be requested (on terms agreed between Atkins and SNC-Lavalin (GB)) to agree to satisfy certain options and awards vesting or becoming exercisable as a consequence of the Acquisition, using these unallocated Atkins Shares in priority to Atkins issuing Atkins Shares or paying cash to satisfy such options and awards. In the event that the trustee of the EBT does not agree to such a request, the unallocated Atkins Shares shall remain in the EBT.
Sample 1

Related to The SIP

  • Mobile Sierra Notwithstanding any provision of this Agreement, neither Party shall seek, nor shall they support any third party seeking, to prospectively or retroactively revise the rates, terms or conditions of service of this Agreement through application or complaint to the FERC pursuant to the provisions of the Federal Power Act, absent prior written agreement of the Parties. Further, absent the prior written agreement in writing by both Parties, the standard of review for changes to the rates, terms or conditions of service of this Agreement proposed by a Party, a non-Party, or the FERC acting sua sponte shall be the “public interest” standard of review set forth in United States Gas Pipe Line Co. v.

  • The P C. agrees to conduct the Practice in compliance with all applicable laws, rules and ordinances, including with respect to the licensing and certification of its providers.

  • AWARD NOT A SERVICE CONTRACT Your Award is not an employment or service contract, and nothing in your Award will be deemed to create in any way whatsoever any obligation on your part to continue in the service of the Company or an affiliate, or on the part of the Company or an affiliate to continue such service. In addition, nothing in your Award will obligate the Company or an affiliate, their respective shareholders, boards of directors or employees to continue any relationship that you might have as an employee of the Company or an affiliate.

  • NON-SMOKING UNIT ENTRY BY OWNER

  • The Web Services E-Verify Employer Agent agrees to, consistent with applicable laws, regulations, and policies, commit sufficient personnel and resources to meet the requirements of this MOU.

  • Right to Refuse Dangerous Work An employee shall have the right to refuse to work in dangerous situations.

  • The U S. Borrower (on behalf of itself and the Foreign Subsidiary Borrowers) from time to time agrees to pay (i) to each U.S. Revolving Facility Lender (other than any Defaulting Lender), through the Administrative Agent, 10 Business Days after the last day of March, June, September and December of each year and three Business Days after the date on which the Revolving Credit Commitments of all the Lenders shall be terminated as provided herein, a fee (an "L/C Participation Fee") on such Lender's U.S. Revolving Facility Percentage of the daily aggregate Revolving L/C Exposure (excluding the portion thereof attributable to unreimbursed L/C Disbursements), during the preceding quarter (or shorter period commencing with the Closing Date or ending with the Revolving Credit Maturity Date or the date on which the U.S. Revolving Facility Commitments shall be terminated) at the rate per annum equal to the Applicable Margin for Eurocurrency Revolving Borrowings effective for each day in such period minus the amount of Issuing Bank Fees (as defined below) set forth in clause (ii)(x) below and (ii) to each Issuing Bank, for its own account, (x) three Business Days after the last day of March, June, September and December of each year and three Business Days after the date on which the U.S. Revolving Facility Commitments of all the Lenders shall be terminated as provided herein, a fronting fee in respect of each Letter of Credit issued by such Issuing Bank for the period from and including the date of issuance of such Letter of Credit to and including the termination of such Letter of Credit, computed at a rate equal to 1/4 of 1% per annum of the daily average stated amount of such Letter of Credit), plus (y) in connection with the issuance, amendment or transfer of any such Letter of Credit or any L/C Disbursement thereunder, such Issuing Bank's customary documentary and processing charges (collectively, "Issuing Bank Fees"). All L/C Participation Fees and Issuing Bank Fees that are payable on a per annum basis shall be computed on the basis of the actual number of days elapsed in a year of 360 days.

  • System for Award Management (XXX) Requirement Alongside a signed copy of this Agreement, Grantee will provide Florida Housing with a XXX.xxx proof of registration and Commercial and Government Entity (CAGE) number. Grantee will continue to maintain an active XXX registration with current information at all times during which it has an active award under this Agreement.

  • The FTPS Unit Servicing Agent shall distribute to redeeming FTPS Unit holders of record on its books redemption proceeds it receives pursuant to Section 5.02 of the Standard Terms and Conditions of Trust from the Trustee as the sole record owner of FTPS Units on the Trustee's books.

  • THE ACADEMY The Academy is a Mainstream Academy as defined in clause 1.4 of the Master Agreement.

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