CERTAIN TERMS AND DEFINITIONS. Section 3.01. As used herein, the following words and phrases shall have the following meanings: Trade Date: November 4, 2005 Closing Date November 9, 2005 Settlement Date: If neither Net Share Settlement nor Modified Net Share Settlement applies, the date that immediately follows the last Valuation Date by 3 Business Days; if Net Share Settlement or Modified Net Share Settlement applies, the date that immediately follows the last Valuation Date by 3 Clearance System Business Days. Business Day: Any day that is not a Saturday, a Sunday or a day on which banking institutions or trust companies in The City of New York are authorized or obligated by law or executive order to close. Clearance System Business Day: Any day on which the Clearance System is open (or, but for an event beyond the control of the parties as a result of which the Clearance System cannot clear the transfer of the Shares, would have been open) for the acceptance and execution of settlement instructions.
Appears in 2 contracts
Sources: Accelerated Share Repurchase Agreement, Accelerated Share Repurchase Agreement (Northrop Grumman Corp /De/)
CERTAIN TERMS AND DEFINITIONS. Section 3.01. As used herein, the following words and phrases shall have the following meanings: Trade Date: November 4March 6, 2005 2006 Closing Date November March 9, 2005 2006 Settlement Date: If neither Net Share Settlement nor Modified Net Share Settlement applies, the date that immediately follows the last Valuation Date by 3 Business Days; if Net Share Settlement or Modified Net Share Settlement applies, the date that immediately follows the last Valuation Date by 3 Clearance System Business Days. Business Day: Any day that is not a Saturday, a Sunday or a day on which banking institutions or trust companies in The City of New York are authorized or obligated by law or executive order to close. Clearance System Business Day: Any day on which the Clearance System is open (or, but for an event beyond the control of the parties as a result of which the Clearance System cannot clear the transfer of the Shares, would have been open) for the acceptance and execution of settlement instructions.
Appears in 1 contract
Sources: Accelerated Share Repurchase Agreement (Northrop Grumman Corp /De/)