Transition Time definition
Examples of Transition Time in a sentence
Each Gift threshold set forth in this Section 5.10 may be exceeded with the ▇▇▇▇▇ Approval, prior to the Transition Time, and, thereafter, the approval of the ▇▇▇▇▇ Family Committee, acting by Majority Vote, but excluding the vote of any Member who wishes to exceed such threshold.
If the Transition Time shall fail to occur within 364 days of the Closing Date, then the Commitment of each Lender shall remain its Initial Commitment for the duration of the Availability Period and the Increased Commitment of each Lender shall automatically terminate.
Upon the Transition Time, but only to the extent that the Transition Time occurs within 364 days of the Closing Date, each Lender’s Commitment shall automatically be increased to its Increased Commitment.
After the Transition Time and until the expiration of the Transition Period, Merck Serono shall, on a monthly basis, provide BioMarin with a preliminary sales report of Merck Serono’s Net Sales of Products made on behalf of BioMarin within [*] Business Days after the end of each calendar month and shall provide BioMarin with a final report of Merck Serono’s actual gross and Net Sales of Products, by country, on behalf of BioMarin within [*] days after the end of each calendar month.
Prior to the Transition Time (as defined in the Merger Agreement), except as otherwise provided herein, no Stockholder shall exercise any outstanding options or warrants to purchase Common Stock except (i) as necessary to avoid the expiration of such option or warrant or (ii) in connection with the tender or sale of the underlying Common Stock to Purchaser or its affiliates.