Granting Event definition

Granting Event means - death, disability or retirement at the age of sixty or more.
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Granting Event means - death, disability or retirement at the age of sixty or more. The ownership of the Pension Scheme will be transferred to the Executive upon the termination of employment and the Company will not be entitled to retrieve any of the funds it transferred to the Pension Scheme, other than in accordance with Section 14 and said General Approval and the transfer of the Pension Scheme to the ownership of the Executive will be the full and only compensation to be paid by the Company to the Executive in such circumstances in respect of severance pay with respect to the insured Salary.
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Examples of Granting Event in a sentence

  • In the event the Intellectual Property Granting Event occurs pursuant to subsection (b) above and the judgment against Borrower is subsequently overturned, Silicon shall release its lien on the Borrower’s Intellectual Property.

  • The Company hereby waives any of its rights to refund of monies from the payments it has transferred according to the General Approval, unless Executive's right to severance pay is denied by virtue of a court order, under Sections 16 or 17 of the Severance Pay Law 5723-1963, and in the same amount which was denied, or the Executive had withdrawn monies from the Policy and/or the Pension Fund, not due to a Granting Event.

  • As a condition precedent to the effectiveness of this Agreement, Borrower shall have executed and delivered to Silicon (i) an Intellectual Property Security Agreement (the “IP Security Agreement”) substantially in the form attached hereto as Exhibit B, to be held in escrow unless and until the occurrence of an Intellectual Property Granting Event, and (ii) a Negative Pledge Agreement (the “Negative Pledge Agreement”) in the form of Exhibit C.

  • The term "Granting Event" shall mean- death, disability or retirement at the age of sixty or more.

  • Upon the occurrence of an Intellectual Property Granting Event, the Intellectual Property Security Agreement shall be released from escrow and Silicon may file the IP Security Agreement with any appropriate filing office and amend any UCC financing statement confirming and perfecting Silicon’s security interest in the Intellectual Property if appropriate.