How is Sunset Date defined in a legal contract?
- Sunset Date means the date immediately after a significant stockholder stops owning at least a stipulated percentage of the outstanding shares of common stock of a corporation. Seen in 39 SEC filings.
- Sunset Date means the date on which the percentage of issued and outstanding shares beneficially owned by an affiliated group drops below a certain percentage. Seen in 15 SEC filings.
- Sunset Date means the date, which is 5 ½ years post the Buyer entering into the contract or another date mutually agreed by both the Buyer and the Seller at a later stage. Seen in 6 SEC filings.
- Sunset Date means the earlier of either the six-month anniversary of a significant event or an acceleration such date, or 31st December 2026. Seen in 6 SEC filings.
- Sunset Date means the date of the first annual meeting of shareholders that is held after the fifth anniversary of the effective date of incorporation. Seen in 5 SEC filings.
- Sunset Date means the earlier of 4 December 2005 or another date nominated in accordance with a [clause]. Seen in 5 SEC filings.
- Sunset Date means the first date on which the Principal Stockholders, in the aggregate, beneficially own a certain percentage or less of the then outstanding Common Stock. Seen in 5 SEC filings.
- Sunset Date means the date determined by the Board of Directors which can be between 9 months and 18 months following a significant event. Seen in 5 SEC filings.
Which definition should you use?
🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Sunset Date means the occurrence of a specific trigger event leading to a reduced interest in a [organization].
Relevant Contract Type
Relevant Circumstances
- Change in the ownership structure
- Dissolution of partnerships
- Changes in the prevailing market conditions
Relevant Sectors
Genie Definition 2
- Sunset Date means a predetermined time period after a significant event or an [agreement] commencement.
Relevant Contract Type
Relevant Circumstances
- Change in the governing laws or regulations
- Evolution of industry standards
- Expiry of licensing terms
Relevant Sectors
Genie Definition 3
- Sunset Date means a date set by a higher authority such as [Board of Directors] post a significant event.
Relevant Contract Type
Relevant Circumstances
- Changes in the corporate structure
- Changes in the strategic plans or tactics of a company
Relevant Sectors
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Sunset Date means the occurrence of a specific trigger event leading to a reduced interest in a [organization]
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