Grandfathered Time definition
Examples of Grandfathered Time in a sentence
Except as set forth on Schedule 7.12, the loss or expiration of any Intellectual Property Right or related group of Intellectual Property Rights owned or used by the Company or any of its Subsidiaries has not had, and is not reasonably expected to have, a Material Adverse Effect, and no such loss or expiration is threatened, pending or reasonably foreseeable.
XxxXxxxxx and his Affiliates and Associates, and (D) any other Person who or which, together with all Affiliates and Associates of such Person, is, as of the Grandfathered Time, the Beneficial Owner of 15% or more of the shares of Common Stock of the Company then outstanding.
Any Grandfathered Person who after the Grandfathered Time becomes the beneficial owner of less than 15% of the outstanding Common Stock shall cease to be a Grandfathered Person and shall be subject to all of the provisions of the Rights Agreement in the same manner as any Person who is not and was not a Grandfathered Person.