Split Contract definition
Examples of Split Contract in a sentence
A Player signatory to a Split Contract shall be included in Actual Club Payroll at the total amount of his actual baseball earnings under that Contract from Major League Clubs (and from National Association clubs, if any) for that Contract Year, subject to subparagraph (g) below.
Buyer acknowledge and agree that any determination by the Contracts Committee shall not be binding with respect to a Split Contract unless and to the extent any such Split Contract is formally amended in a written agreement that is executed by each of the parties thereto.
Each of the Purchased Contracts is in full force and effect and has not been amended or modified (unless a Purchased Contract has become a Split Contract).
Promptly upon the delivery of Buyer's consent to the terms and conditions of the division of the rights and obligations under any Split Contract, the Emmis Entities shall assign such Split Contract to Buyer and Buyer shall assume such Split Contract.
If and when such consents or approvals are obtained or such other required actions have been taken, the transfer of such Assumed Contract, Assumed Lease, Assumed Split Contract Right or Assigned Permit will be effected in accordance with the terms of this Agreement.
As it relates to rights, obligations and Liabilities of Barrick or its Affiliates that are not related to a Purchased Royalty, Barrick may make use of such Split Contract in such manner as it sees fit.
In furtherance of the foregoing, the Buyers shall, or shall cause their designee to, promptly pay, perform or discharge when due any Liability arising under any Split Contract from and after the Closing Date to the extent that such Liability relates to rights and benefits under such Split Contract that the Buyers (or the Transferred Entities) receives pursuant to this Section 5.08(b).
In addition, Seller further acknowledges and agrees, on behalf of each Seller Group member and the Additional Seller Group Company, that JV Holding Singapore, the applicable JV Subsidiary or the applicable Purchaser Group member shall have the right to enforce any Assumed Contract or any Assumed Split Contract Right under any Assumed Split Contract.
In furtherance of the foregoing, the Purchaser or the Seller, as applicable, shall, or shall cause its designee to, promptly pay, perform or discharge when due any liability arising under any Split Contract from and after the Principal Closing Date to the extent that such liability relates to rights and benefits under such Split Contract that the Purchaser or the Seller (or their respective designee) receives pursuant to this Section 5.7(b).
Sellers and their Affiliates shall be deemed to hold such Split Contract and all rights, benefits and privileges with respect thereto as a trustee for the benefit of the Transferred Entities and shall not terminate, modify or supplement (in each case in a manner that would adversely affect the Buyers or the Business) such Split Contract without the Buyers’ written consent.