Examples of CVR Trustee in a sentence
At or immediately prior to the Merger Effective Time, Parent will execute and deliver, and Parent will cause the New CVR Trustee to execute and deliver, the New CVR Agreement, subject to any changes to the New CVR Agreement that are requested by the New CVR Trustee and approved prior to the Merger Effective Time by Parent and the Company (which approval, in the case of the Company, shall not be unreasonably withheld, conditioned or delayed).
Failure to achieve the remaining sales milestones could have an adverse effect on the value of the CVRs (see also Note D.22.c to the consolidated financial statements included at Item 18 of the annual report regarding the ongoing CVR Trustee Claim).
The CVR Trustee shall not be under any duty to monitor whether any event or circumstance has happened or exists which may require an adjustment to be made to the Market Capitalization Milestones or any calculation (or verification thereof) in connection with the Market Capitalization Milestones and will not be responsible or liable to the Holders or any other person for any loss arising from any failure by them to do so.
Money held by the CVR Trustee in trust hereunder need not be segregated from other funds except to the extent required by Law.
If the Company fails to send such notice within ten (10) days after acceptance of appointment by a successor CVR Trustee, it shall not be a default hereunder but the successor CVR Trustee shall cause the notice to be mailed at the expense of the Company.
If any CVR Trustee is removed with or without cause, all fees and expenses (including the reasonably incurred fees and expenses of counsel) of such CVR Trustee incurred in the administration of the trust or in performing its duties hereunder shall be paid to such CVR Trustee by the Company.
This Agreement shall terminate and the CVRs shall expire on the later of (1) December 31, 2021 and (2) the date on which the Company makes all amounts of payments required under the terms of this Agreement to the CVR Trustee.
If an Event of Default specified in clause (e) or (f) of Section 8.1 hereof occurs with respect to the Company or any Significant Restricted Subsidiary, all Triggered Payments shall be immediately due and payable without any declaration or other act on the part of the CVR Trustee or any Holder.
On page 29343 of the proposed exemption, Condition (l) states that: ‘‘The CVR Trustee will certify to the Department that no excess portion of the CVR Payment Amount reverts to CHS, its successors, or their affiliates.’’ CHS requests that the Department remove the reference to the CVR Trustee from this condition because CHS states that it has no way to require that the CVR Trustee provide such certification to the Department.
The CVR Trustee or any other agent of the Company, in its individual or any other capacity, may become the owner or pledgee of CVRs, and, subject to Section 4.8 and 4.13 hereof, may otherwise deal with the Company with the same rights it would have if it were not CVR Trustee or such other agent.