Cash Out Option. The Plan shall provide that Holders of common stock of Xxxxxxx may elect to deliver their shares of such common stock to reorganized Xxxxxxx for cancellation in exchange for a payment in cash on the Effective Date equal to $6.25 for each share properly delivered (the “Cash-Out Option” and, the cash payment offered through the Cash-Out Option, the “Cash-Out Consideration”). For the avoidance of doubt, (i) the Existing Commitment Parties shall not elect to participate in the Cash-Out Option and (ii) holders of common stock of Xxxxxxx that elect to participate in the Cash-Out Option and receive the Cash-Out Consideration shall (x) opt into the releases set forth in the Plan and (y) not be entitled to retain their common stock of reorganized Xxxxxxx or participate in the Rights Offering.
Cash Out Option. St. Xxxxxx Medical Center will allow PTO cash outs in accordance with IRS regulations. An eligible employee may elect to cash out up to fifty percent (50%) of his or her PTO accrual (up to one hundred twenty hours (120) hours). Employees electing to receive cash in lieu of paid time off must indicate their interest in doing so by making an irrevocable election during the November Annual Open Enrollment timeframe each year prior to accruing the time off in the following year. For example, during November an employee may make an irrevocable election to cash out up to no more than fifty percent (50%) of the PTO hours they will accrue in the next calendar year, not to exceed one hundred twenty (120) hours. Note: Employees accruing PTO at the two hundred (200) hour tier level may elect to cash out up to one hundred (100) hours of PTO in the following year. Employees may elect to receive their cash out in one of the following two ways:
Cash Out Option. Once each calendar year an employee may cash out eight (8) or more hours of vacation accrual in excess of eighty (80) hours to a maximum of one hundred twenty (120) hours; PROVIDED, that the employee has taken eighty (80) hours of vacation off with pay in the previous twelve (12) months.
Cash Out Option. Employees may cash-out vacation leave according to the limits and procedures for the cash out of paid time off (PTO) as applied to non-represented employees. The Union shall be notified of changes to the limits and procedures affecting vacation leave cash out.
Cash Out Option. Upon written request of the unit member, the District will pay out the accumulated banked load at the current overload rate.
Cash Out Option a) Who can surrender IDRs under the Cash-out Option An IDR Holder who is the legal and beneficial owner of, and has good and valid title to IDRs, free and clear of all pledges, liens, charges, encumbrances, equities, security interests, third party rights or other similar claims is eligible to instruct the Domestic Depository, under the Cash-out Option, to surrender some or all of his IDRs to facilitate the sale of the Shares underlying such IDRs. The IDR Holder submitting such instructions may hold IDRs in dematerialised form or in physical/certificated form. IDR Holders are not required to have or open a CREST Account in the United Kingdom for exercising the Cash-out Option. IDR Holders shall consult their own counsel and advisors as to business, legal, tax, accounting and related matters under Indian and other applicable laws before exercising the Cash-out Option. IDR Holders may exercise the Cash-out Option in circumstances where the surrender of IDRs and sale of the Shares underlying such IDRs does not give rise to any requirement on the part of the Company, the Domestic Depository, the Overseas Custodian or the Registrar in any jurisdiction to comply with any filing or other requirement or to pay any fees or expenses. Any Withdrawal Order in respect of which the foregoing applies is liable to be rejected. By submitting an Withdrawal Order for exercise of the Cash-out Option, the relevant IDR Holder is deemed to have represented and warranted that there is no such requirement in relation to the IDRs representing the Shares that he is seeking to surrender for sale. US Persons (within the meaning of Regulations under the US Securities Act of 1933, as amended) are not eligible to submit Withdrawal Orders and any person submitting a Withdrawal Order is deemed to have represented and warranted that he is not a US Person.
Cash Out Option. 115.1 Employees may choose to cash out up to one week (pro rata for part time employees) of their accrued Annual Leave once per calendar year, provided the employee's remaining accrued Annual Leave entitlement is not less than four weeks.
Cash Out Option. St. Xxxxxxxxx Hospital will allow PTO cash outs in accordance with IRS regulations. A nurse may elect to cash out up to 50% of his or her PTO accrual (up to 120 hours) in a manner consistent with IRS regulations. Nurses electing to receive cash in lieu of paid time off must indicate their interest in doing so by making an irrevocable election during the annual enrollment each calendar year prior to accruing the time off in the following year. For example, during Annual Enrollment a nurse may make an irrevocable election to cash out up to no more than 50% of the PTO hours they will accrue in the next calendar year, not to exceed one hundred twenty (120) hours. The payment will be made in the following calendar year during the pay periods defined below. Note: Nurses accruing PTO at the 200 hour tier level may elect to cash out up to 100 hours of PTO in the following year. Payments will be made as follows: Fifty percent (50%) of election amount paid by July 31 (not to exceed 60 hours) and the remaining fifty percent (50%) paid by December 31 (not to exceed a total of 120 hours or 100 hours for those with accrual at the 200 tier level. By December 31 – the remaining number of hours not cashed out up to 120 hours annual maximum (100 annual maximum for RNs accruing at the 200 hour tier level). Or one hundred percent (100%) of election amount (not to exceed one hundred twenty (120) hours or one hundred (100) hours for those accruals at the two hundred (200) tier level). Employees who elect PTO cash out will accrue their elected PTO cash out hours in a separate accrual balance which will be visible on the pay stub. Employees will only have access to these accrued hours for purposes of elected cash out. Employees who elect a pay out twice per year and who have not accrued fifty percent (50%) of their election by July will receive the amount they have earned toward their election and the remaining hours will be paid at the time of their December pay out. Employees who experience a reduction in their overall PTO accrual (i.e., change in hours worked, etc.) or who stop accruing PTO due to a leave of absence or reaching the annual maximums for example may not reach their full cash out election amount and as such will only be paid what they have accrued toward the cash out election at the time of the payout. Additionally, the employer shall provide a cash out option for unforeseeable emergencies and in an amount reasonably necessary to satisfy the emergency need consist...
Cash Out Option. The Liquidating Trustee, after consultation with the Plan Advisory Committee, may negotiate with one or more third parties one or more offers to purchase any Liquidating Trust Interests from the Liquidating Trust Beneficiaries, at the option of each Liquidating Trust Beneficiary.
Cash Out Option. In the case of an exercise of Warrants at any time prior to the receipt of the approval of the Company’s stockholders for the issuance of the Warrant Shares, the Warrants may be settled, at the Company’s option, by payment of an amount of cash (or wire transfer of immediately available funds) equal to the Current Market Price per share on the date of exercise.
