Annual Installments. The Optionee shall have the right hereunder to purchase from the Company the following number of Option Shares upon exercise of the Options, on and after the following dates, in cumulative fashion:
Annual Installments. A Participant entitled to elect to defer -------------------- distribution of his Plan Benefit under Subsection 9(b)(i) may elect to have the distribution paid in cash over an installment period of not more than 10 years. Such election must be filed with UDLP on the prescribed form before the date employment terminates, before the Participant dies, or before UDLP determines that the Participant is permanently and totally disabled, as the case may be, and shall, except as provided in Subsection 9(f), be irrevocable. The election shall specify the number of annual installments. If an installment election is made, the Plan Benefit shall be distributed in annual installments as follows: The amount of each annual installment shall be paid during the first month of the year. The value of Stock and/or cash SECTION 9(b)(ii) to be distributed in each installment shall be determined by dividing the amount of Stock and/or cash credited to the Participant's Plan Benefit account as of the date the installment is being paid by the total number of annual installments elected minus the number of annual installments which have previously been paid. The amount payable with respect to the Stock portion of the installment shall be determined as of the Valuation Date immediately preceding the date payment is made.
Annual Installments. Unless Lessee chooses to prepay the annual Rent amount for the entire Term of this Lease, Rent will be paid in annual installments, in advance, commencing on the Commencement Date, and on each anniversary of the Commencement Date, during the Term. Any Rent pre-paid to the City as provided herein shall not be repaid or refunded to Lessee upon any early termination of this Lease.
Annual Installments. Buyer, its Affiliates, successors, or assigns, agree to pay Parent, for the benefit of Seller, a percentage of the annual revenue generated in the Area for either a period of five (5) years after the Closing or until such payments total six hundred twenty two thousand dollars ($622,000.), whichever occurs first, calculated as follows:
Annual Installments. No Option shall be exercisable (i) before the dates hereinafter indicated, or (ii) after the Expiration Date ("Exercise Period"); provided, however, that in no event shall the Option be exercisable after the expiration of ten (10) years from the Date of Grant. Within the Exercise Period, unless the Committee establishes otherwise, the Option will become exercisable by Optionee in annual installments on the anniversaries of the Date of Grant in accordance with the following schedule: Date First Exercisable Number of Shares Exercisable
Annual Installments. The director may elect to receive the payments with respect to an Award in two or more annual installments. If so, the director shall indicate in his election pursuant to Section 2.02(a) the number of annual installments he wishes to elect. The number of annual installments elected shall not exceed 20 and shall not extend the period of payment beyond the director's life expectancy, determined as of the age he will have attained on the payment commencement date. If the number of annual installments elected by a director would otherwise exceed the limits in the preceding sentence, he shall be deemed to have elected the maximum number of annual installments permitted under the preceding sentence. The annual installments shall be payable to the director beginning on the payment commencement date and on each anniversary thereof until the total number of installments elected by the director have been paid. Each annual installment shall equal the portion of the balance in the director's account attributable to the Award, determined as of the date the installment is payable and after giving effect to the previous annual payments, if any, multiplied by a fraction, the numerator of which is one, and the denominator of which is the excess of the total number of installments elected by the director over the number of installment payments previously made under the schedule. For example, the respective fractions under a 5-year installment schedule are 1/5 for the first installment, 1/4 for the second installment, 1/3 for the third installment, 1/2 for the fourth installment, and 1/1 for the fifth and final installment.
Annual Installments. The Borrower has prepaid one (1) installment on April 1, 1995 in the amount of $8333.00 and one (1) installment in the amount of $22,619.75 on or before April 1, 1996, and the Borrower shall prepay three (3) installments in the amounts of $22,916.75 each, payable on or before the first day of each April of each year beginning April 1, 1997 ("Mandatory Prepayment") which Mandatory Prepayment shall be applied to installments of principal of the Note in inverse order of maturity. Any prepayment in any Plan Year exceeding the amount of the required Mandatory Prepayment shall be applied to the Mandatory Prepayment due in the immediately succeeding year or years, until the Borrower has prepaid the full $100,000 which must be paid pursuant to this Section 2.4(c).
Annual Installments. In the event a Participant's employment with the Corporation and its Subsidiaries terminates after the effectiveness of the Participant's election as to the method of payment under paragraph 5(e) and the Participant has selected annual installments, the amount of such annual installments shall be calculated and paid pursuant to the provisions of this paragraph 5(g). The first installment shall be paid on or about March 31 of the calendar year immediately following the calendar year of such termination of employment, and each subsequent installment shall be paid on or about each subsequent March 31. The amount of the installments shall be calculated as follows: First, the Participant's Account shall continue to be credited with monthly adjustments under paragraph 5(d) through such March 31, except that the rate for such monthly adjustments for the calendar month of such termination of employment through such March 31 shall be the 30-year Treasury bond ask yield for the last business day of the calendar month immediately preceding such termination of employment (regardless of the method of Account adjustment elected by the Participant under paragraph 5(d) above). The amount of the annual installments shall then be calculated, based on the Account balance as of such March 31, as equal annual installments amortized over the selected period using the same 30-year Treasury bond ask yield. If a Participant dies after the effectiveness of the Participant's election as to the method of payment under paragraph 5(e) and the Participant has selected annual installments, such annual installments (or remaining annual installments in the case of death after commencement of payment) shall be paid to the Participant's designated beneficiary.