Examples of Sold Business in a sentence
In the event Licensee sells, divests or otherwise transfers substantially all of the business related to such Licensed Patent, or engages in a Change of Control, then the rights of the Third Party acquiring such Sold Business shall be determined in accordance with Section 9.03.
Upon the Sale of a Business, if Executive is employed by the Sold Business (as defined in Section 3.2(d)) immediately before completion of the sale, then at the time of the Sale of a Business, Executive may request that the Retained Business hire Executive on terms and conditions substantially similar to those set forth in this Agreement, and the Retained Business shall use its commercially reasonable efforts to hire Executive, if practicable.
For purposes of the preceding sentence, the term resignation does not include the departure of Optionee by reason of the Sale of a Business where Optionee is employed by the Sold Business and is not offered employment with a Retained Business on substantially similar terms and conditions.
By /s/ Sebastian Deschler Name: Sebastian Deschler Title: Senior Vice President, General Counsel and Secretary OTHER MEMBERS BRE DELAWARE INC.
Each Sold Business Employee (i) who accepts Buyers’ offer of employment and becomes an employee of Buyers as of the Effective Time or (ii) whose employment agreement is assumed by Buyers as of the Closing Date shall thereafter be a “Transferred Employee”; provided, however that no Sold Business Employee who is on a leave of absence or another leave shall become a Transferred Employee unless and until he or she returns from that leave.