Common use of Time Condition Clause in Contracts

Time Condition. The Time Condition with respect to the Interests will be satisfied as follows, provided that the Participant has not incurred a Termination prior to each such vesting date: Emergence DateFirst Anniversary of Emergence DateSecond Anniversary of Emergence DateThird Anniversary of Emergence Date 25% 25%25%25% There shall be no proportionate or partial vesting in the periods prior to each vesting date and all vesting shall occur only on the appropriate vesting date, subject to the Participant not incurring a Termination prior to the applicable vesting date. The continuous employment or service of the Participant shall not be deemed interrupted, and the Participant shall not be deemed to have incurred a Termination, by reason of the transfer of the Participant’s employment or service among the Company and/or its Subsidiaries and/or Affiliates.