Resolution Event definition
Examples of Resolution Event in a sentence
For the avoidance of doubt, the Cumulative Outstanding GARE Losses shall be carried over year-to-year and recalculated as of January 1st of each calendar year following a Global Asbestos Resolution Event, until the earlier of (i) the year that there are no Cumulative Outstanding GARE Losses or (ii) the Termination Date.
If a Global Asbestos Resolution Event has not occurred, Payor shall make the payments to Payee set forth in this Section 2.3.
If a Global Asbestos Resolution Event has occurred, beginning on January 1st of the calendar year following such Global Asbestos Resolution Event, Payor shall pay Payee as set forth in this Section 2.4.
Notwithstanding the foregoing, the Stockholders' liability with respect to the Specific Liability shall continue until the occurrence of a Resolution Event.
In the event of a Special Resolution Event, or if Fund or NPM terminates the Agreement as permitted herein, Fund will use all reasonable efforts to transition Fund off of the NPM Platform and wind down any existing NPM Services, and NPM shall provide reasonable assistance to Fund to aid in such transition.