Restructuring Event definition
Restructuring Event means the occurrence of any one or more of the following events:
Restructuring Event means the occurrence of any of the following events:
Restructuring Event has the meaning set forth in Section 3.1(d).
Examples of Restructuring Event in a sentence
The Release must be executed by Executive no earlier than the date of Executive’s termination and Executive must execute it within twenty-one (21) days from the date of Executive’s termination; provided, that, with respect to a Restructuring Event, Executive may execute the Release prior to termination and approve the release of Executive’s signature page effective as of the date of the Restructuring Event, which Release shall be effective immediately.
In the event Executive’s employment with the Company terminates pursuant to a Restructuring Event, Executive agrees to provide reasonable consulting services to the Company during any federal bankruptcy process as reasonably requested by the Company (taking into account Executive’s other obligations) and subject to the Company’s payment of a reasonable fee to Executive, which fee shall be in addition to any other payments due to Executive under this Agreement.
In addition, the Company hereby terminates Executive’s employment with the Company without Cause on the earlier of the date of a Change in Control and a Restructuring Event.
The Release must be executed by Executive no earlier than the date of Executive’s termination and Executive must execute it within twenty-one days from the date of Executive’s termination; provided, that, with respect to a Restructuring Event, Executive may execute the Release prior to termination and approve the release of Executive’s signature page effective as of the date of the Restructuring Event, which Release shall be effective immediately.
More Definitions of Restructuring Event
Restructuring Event means the occurrence of any one or more of the following events:
(A) (x) the Secretary of State for Trade and Industry (or any successor) giving any Distribution Subsidiary and/or the Issuer written notice of any revocation of its Distribution Licence or (y) any Distribution Subsidiary and/or the Issuer agreeing in writing with the Secretary of State for Trade and Industry (or any successor) to any revocation or surrender of its Distribution Licence or (z) any legislation (whether primary of subordinate) being enacted terminating or revoking the Distribution Licence of any Distribution Subsidiary and/or the Issuer, except in any such case in circumstances where a licence or licences on substantially no less favourable terms is or are granted to (1) the Issuer of a wholly-owned Subsidiary of the Issuer (the “Relevant Subsidiary”), and in the case of such Relevant Subsidiary at the time of such grant it either executes in favour of the Trustee an unconditional and irrevocable guarantee in respect of the Notes in such a form as the Trustee may approve or becomes the primary obligor under the Notes in accordance with Condition 14; or
(B) any modification (other than a modification which is of a formal, minor or technical nature) being made to the terms and conditions of any Distribution Subsidiary’s or the Issuer’s Distribution Licence unless two directors or the Distribution Subsidiary or, as the case may be, of the Issuer, have certified to the Trustee that the modified terms and conditions are not materially less favourable to the business of the Distribution Subsidiary or, as the case may be, of the Issuer; or
(C) any legislation (whether primary or subordinate) is enacted which removes, qualifies or amends (other than an amendment which is of a formal, minor or technical nature) the functions and duties of the Secretary of State for Trade and Industry (or any successor) and/or the Gas and Electricity Markets Authority (or any successor) under section 3A of the Electricity ▇▇▇ ▇▇▇▇, as amended by the United Act 2000 (as this may be amended from time to time ), unless two directors of the Issuer have certified to the Trustee that such removal, qualification or amendment does not have a Material Adverse Effect (as defined in the Trust Deed) on the financial condition of the Issuer of any Distribution Subsidiary.
Restructuring Event means a Bank Restructuring Event or a Guarantor Restructuring Event, as applicable.
Restructuring Event means any restructuring of the business of the Issuer and its Subsidiaries following the consummation of which there is a change in:
Restructuring Event means either (a) the modification of any material rights, benefits or obligations of STWL as a water undertaker or sewerage undertaker arising under the Appointment, or (b) any material modification being made to the Appointment regardless, in the case of both paragraphs (a) and (b), of whether or not such modification is made with the consent of STWL and whether pursuant to the Water Industry Act 1991 or otherwise but excluding, in the case of both paragraphs (a) and (b), an adjustment in K (including for this purpose, for the avoidance of doubt, any adjustment to the basis or formula for pricing which arises as part of a periodic review under the terms of the Appointment) or a modification in respect of, or which removes, such part of STWL's area as is the subject of an appointment or variation by virtue of section 7(4)(b) or (bb) of the Water Industry Act 1991. For the avoidance of doubt, the service by the Secretary of State of a notice under Condition O of the Appointment shall not of itself constitute a Restructuring Event; and
Restructuring Event means the earlier to occur of the Board’s approval of the Company’s commencement of (i) a proceeding under state or federal law to effect a winding up or dissolution of the Company (other than a case under chapter 11 of title 11 of the US Code) (a “Liquidation”), or (ii) commencing a case under chapter 11 of title 11 of the US Code, in any case, within four (4) years following the Effective Date (a “Bankruptcy”). In the event Executive’s employment with the Company terminates pursuant to a Restructuring Event, Executive agrees to provide reasonable consulting services to the Company during any federal bankruptcy process as reasonably requested by the Company (taking into account Executive’s other obligations) and subject to the Company’s payment of a reasonable fee to Executive, which fee shall be in addition to any other payments due to Executive under this Agreement.
Restructuring Event means either (i) the modification of any material rights, benefits or obligations of the Guarantor as a water undertaker or sewerage undertaker arising under the Appointment or the Water Industry Act 1991 or (ii) any material modification made to the Appointment or the Scheme (being a scheme made under Schedule 2 of the Water Industry Act 1991 pursuant to which property, rights and liabilities of the water authority to which the Guarantor is the successor were transferred to the Guarantor), regardless of whether or not such modification is made with the consent of the Guarantor and whether pursuant to the Water Industry Act 1991 or otherwise or (iii) any legislation (whether primary or subordinate) is enacted removing, reducing or qualifying the duties or powers of the Secretary of State for the Environment, Food and Rural Affairs and/or the Water Services Regulation Authority (or any successor) (including without limitation any such legislation removing, reducing or qualifying such duties or powers under or pursuant to Sections 2, 9 or 24 of the Water Industry Act 1991) in each case as compared to those in force on the Issue Date.
Restructuring Event means a Bank Restructuring Event or a UBS Group Restructuring Event, as applicable.