Rescission definition

Rescission has the meaning specified therefor in Section 7(k).

Rescission or “to rescind” means a cancellation or discontinuance of coverage that has a retroactive effect. “Rescission” does not include a cancellation or discontinuance of coverage that has only a prospective effect or a cancellation or discontinuance of coverage that is effective retroactively to the extent it is attributable to a failure to timely pay required premiums or contributions towards the cost of coverage.

Rescission means a cancellation or discontinuance of coverage under a health benefit plan that has

Examples of Rescission in a sentence

To allow for the Rescission, the Parties agree that the Surviving Entity will operate independently to the extent reasonably possible from the date hereof until the SPAC Merger or IPO occurs.
Each Party (and each of the former Target Company Members) shall be solely responsible for all costs incurred by such Party (or such the former Target Company Member) as part of the Rescission process.
Upon receipt of such notice, the Parties agree to execute all documents and take all necessary actions and consummate all necessary transactions to accomplish the Rescission for legal and Tax purposes by restoring the Parties to the position, or as close as possible to the position, they would have been in had the Merger not been consummated; which may include the return of cash payments and Promissory Notes, repurchase of assets and re-issuance of membership interests.
The Parties further agree that in the event the Rescission occurs, for Tax purposes, they will take (and will use their reasonable best efforts to cause the former Target Company Members to take) the position that the Merger and the Rescission had not occurred.
Each Party (and each of the former Target Company Stockholders) shall be solely responsible for all costs incurred by such Party (or such the former Target Company Stockholder) as part of the Rescission process.

Rescission means the right of a Mortgagor to rescind the related Note and related documents pursuant to applicable law.

Rescission means annulling the loan contract and, with

Rescission has the meaning set forth in Section 10.17.

Rescission or “to rescind” means a cancellation or discontinuance of coverage that has a retroactive effect.

Rescission means annulling the loan contract and, with respect to the small loan contract, returning the borrower and the licensee to their financial condition prior to the origination date of the loan.

Rescission means a written order of the Youth Parole Authority that rescinds a parole date.