The "Resolution Date" clause specifies a deadline by which a dispute, issue, or contractual obligation must be resolved or concluded. It establishes a fixed date to ensure timely action and closure between the parties involved, maintaining accountability and minimizing prolonged uncertainties.
the date on which the Voting Securities are to be purchased (the “Purchase Date”), which Purchase Date shall not be less than twenty days nor more than sixty days after the date of the adoption of the Resolution (the “Resolution Date”);
Payments from the Escrow Account with respect to any Indemnification Claims shall first be paid with the Escrow Shares and then with any remaining property in the Escrow Account. For any Escrow Shares to be disbursed with respect to Indemnification Claims, the Escrow Shares shall be valued at the Pubco Share Price as of the date that an Indemnification Claim is finally determined in accordance with the Business Combination Agreement and this Agreement (the “Resolution Date”). For the avoidance of doubt, the Resolution Date shall be (i) if no Objection Notice is delivered by the Seller Representative during the Objection Period (other than with respect to a Third Party Claim), the 31st day after the date that the Claim Notice is delivered; (ii) if prior to the date described in clause (i) above, the Seller Representative provides affirmative written instructions to the Escrow Agent to release the Escrow Property for the amount set forth in the Claim Notice, the date that the Escrow Agent receives such written instructions; (iii) if the Seller Representative provides an Objection Notice during the Objection Period that disputes only a portion of the Claim Amount (other than with respect to a Third Party Claim), with respect to the undisputed portion of such Claim Amount, the date that the Escrow Agent receives such Objection Notice; (iv) with respect to any disputed Claim Amount, either the date that the Escrow Agent receives Joint Instructions or a Binding Award; or (v) with respect to any Third Party Claim, that date that such Third Party Claim has been sustained in whole or in part by a court of competent jurisdiction or other binding legal process (including binding arbitration) or settled in whole or in part in accordance with the provisions of the Business Combination Agreement (and if any Third Party Claim is decided or settled in part, the Resolution Date with respect to each part that has not yet been decided or settled shall be the date that such remaining part is decided or settled); provided, that with respect to Indemnified Third Party Costs, the Resolution Date shall be the date that the Purchaser Representative notifies the Seller Representative and the Escrow Agent in writing of the amount of such Indemnified Third Party Costs.
(C) the passage of twelve months following such termination without the good faith prosecution (criminal or civil) of the Employee for or arbitration of such deed(s) (the first of which occurs being the "Resolution Date"), in any which case the termination shall be deemed a Severance Termination and, subject to subsection (b) of this Section, the Employee shall be entitled at such time, with (where applicable) payment or commencement, as applicable, to be made within ten business days after the Resolution Date but in no event later then the end of the calendar year containing the Resolution Date, to all the benefits of this Section as of the Severance Date , plus (y) interest at the prime rate per annum on the unpaid amounts outstanding from time to time from the Severance Date through the Resolution Date (the "Resolution Period"), plus (z) an extension of the Employee's benefit periods under subsections (d) and (i) of this Section and stock compensation award exercise period(s) under subsection (e) of this Section equal to the length of the Resolution Period; provided, however, that the extension of the extension of the Employee's stock compensation award exercise period(s) under subsection
In the event of such acts occurring the party is expected to notify the remaining party of such actions as well as a resolution date.
Resolution date for issuance: December 22, 2017
Date of board resolution (decision date)’ is resolution date of investment committee, a corporate’s in-house investment decision-making organization.
A Resolution Date is a specific date set within a contract or legal document by which a certain issue must be resolved, or a particular condition must be satisfied. It serves to ensure that obligations are met within a defined timeframe, providing clarity and deadlines for the involved parties.
You should use a Resolution Date in any situation where timelines for the completion of tasks, the resolution of disputes, or the fulfillment of conditions need to be established. This is especially crucial in contracts or agreements where timely execution is essential to the agreement’s success or compliance.
When writing a Resolution Date, it is important to specify the exact date. The typical format in most contracts is:
[Month] [Day], [Year]
For example:
January 31, 2024
Ensure that the resolution date is clearly defined in the context of the obligation or condition it pertains to, often within a clause specifically addressing timelines.
Resolution Dates are commonly found in various types of contracts, including:
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