sentence means the sanction or combination of sanctions imposed by the sentencing court on an offender who is convicted of or pleads guilty to an offense.
(1) IN GENERAL.—The term qualified trade or business’ means any trade or business other than—
Standstill Period has the meaning set forth in Section 3.1.
Protection Period means the period beginning on the date that is six (6) months before the effective date of a Change in Control and ending on the second anniversary of the effective date of the Change in Control.
(G) the term location information’ means
Post-Change Period means the period of time commencing on the date of the first occurrence of a Change in Control and continuing until the second anniversary of the occurrence of such Change in Control.
Other Provisions As specified in the Preliminary Prospectus Supplement dated March 23, 2023 relating to the Securities. Securities Exchange: The Series KK Notes will not be listed on any exchange. Ratings: Baa2 by Xxxxx’x Investors Service, Inc. BBB by S&P Global Ratings Closing Date and Delivery Date: March 27, 2023 Closing Location: Xxxxxxx Xxxxxxx & Xxxxxxxx LLP 000 Xxxxxxxxx Xxx. New York, New York 10017 Address for Notices to Underwriters: X.X. Xxxxxx Securities LLC 000 Xxxxxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Deutsche Bank Securities Inc. 0 Xxxxxxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 TD Securities (USA) LLC 0 Xxxxxxxxxx Xxxxxx, 00xx Xxxxx Xxx Xxxx, Xxx Xxxx 00000 Truist Securities, Inc. 0000 Xxxxxxxxx Xxxx XX, 00xx Xxxxx Xxxxxxx, XX 00000 ANNEX A Permitted Free Writing Prospectus Final Term Sheet dated March 23, 2023 ANNEX B Issuer Free Writing Prospectus Filed Pursuant to Rule 433 supplementing the Preliminary Prospectus Supplement dated March 23, 2023 Registration No. 333-253260 MARRIOTT INTERNATIONAL, INC. $800,000,000 4.900% Series KK Notes due 2029 PRICING TERM SHEET Dated: March 23, 2023 Issuer: Marriott International, Inc. (the “Company”) Anticipated Ratings (Moody’s / S&P)*: Baa2 / BBB Security: 4.900% Series KK Notes due 2029 (the “Series KK Notes”) Aggregate Principal Amount: $800,000,000 Maturity Date: April 15, 2029 Coupon: 4.900% Interest Payment Dates: April 15 and October 15, commencing on October 15, 2023 Day Count Convention: 360-day year consisting of twelve 30-day months Price to Public: 98.732% of the principal amount Benchmark Treasury: 4.000% due February 29, 2028 Benchmark Treasury Price / Yield: 102-15 3⁄4 / 3.446% Spread to Benchmark Treasury: +170 basis points Yield to Maturity: 5.146%
Expense Limit means the percentage of a Fund’s average annual net assets (on an annualized basis) set forth below. The current expense limitation agreement expires on the date specified, unless renewed by mutual agreement of the Fund and the Adviser based upon a determination that this is appropriate under the circumstances at that time. Fund Limit on Other Expenses Expiration Date of Expense Limit Greater China Opportunities Fund 0.30% February 28, 2017 Value Equity Fund1 0.04% February 28, 2018 1 At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the contractual limit on other expenses (0.04%) for Value Equity Fund with an expiration date of February 28, 2018, effective July 1, 2016. APPENDIX G Fund Level Contractual Investment Management Fee Waivers The Adviser agrees to limit Jxxx Hxxxxxx Money Market Fund’s management fee to a maximum annual rate of 0.40% of the Fund’s average daily net assets. The limitation will continue until at least July 31, 2017.* * At the March 8-10, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the extension of the expiration date (to July 31, 2017) of the management fee limitation, effective upon the current expiration date of July 31, 2016. The Adviser agrees to limit Jxxx Hxxxxxx Value Equity Fund’s management fee to a maximum annual rate of 0.66% of the Fund’s average daily net assets. The limitation will continue until at least February 28, 2018.* * At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the lowering of the advisory fee cap (to 0.66%) and the extension of the expiration date (to February 28, 2018) of the management fee limitation, each effective July 1, 2016. The Adviser agrees to limit Jxxx Hxxxxxx Government Income Fund’s management fee to a maximum annual rate of 0.53% of the Fund’s average daily net assets. The limitation will continue until at least September 30, 2017.* * At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the extension of the expiration date (to September 30, 2017) of the management fee limitation, effective upon the current expiration date of September 30, 2016. The Adviser agrees to reduce Jxxx Xxxxxxx Xxxx Fund’s management fee by an annual rate of 0.05% of the Fund’s average daily net assets. The reduction will continue until at least September 30, 2017.* * At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the extension of the expiration date (to September 30, 2017) of the advisory fee waiver, effective upon the current expiration date of September 30, 2016. The Adviser agrees to reduce Jxxx Hxxxxxx Enduring Assets Fund’s management fee by an annual rate of 0.20% of the Fund’s average daily net assets. The reduction will continue until at least February 28, 2018.* * At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the advisory fee waiver (0.20%) for Jxxx Hxxxxxx Enduring Assets Fund with an expiration date of February 28, 2018, effective July 1, 2016.
Control Period means the period beginning January 1 of each year and ending on December 31 of the same year, inclusive.
Restriction Termination Date means the first day on which the Board of Directors of the Corporation determines that it is no longer in the best interests of the Corporation to attempt to, or continue to, qualify as a REIT.
Early Opt-in Effective Date means, with respect to any Early Opt-in Election, the sixth (6th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, so long as the Administrative Agent has not received, by 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, written notice of objection to such Early Opt-in Election from Lenders comprising the Required Lenders.
Termination Period means the period of time beginning with a Change in Control and ending on the earlier to occur of: