Succession Time definition
Succession Time means, for any Appointment, (a) the Effective Time, if all Authorizations for such Appointment have been received as of that time or (b) if any Authorization for such Appointment has not been received as of the Effective Time, the time that all Authorizations for such Appointment have been received.
Examples of Succession Time in a sentence
As of the Succession Time, the provisions of each Unit then outstanding shall be deemed to be conformed, without the necessity for any reissuance or exchange of such Unit or any other action on the part of the Holders, New Albertson’s, the Company or Agent, so as to reflect this Supplemental Agreement.
Section 5.1 The Company and New Albertson’s agree that, subject to the other provisions of this Supplemental Agreement, from and after the Succession Time, Section 2.1(b) of the First Supplement shall have no further effect.