Default Form, Timing and Medium of Payment Sample Clauses

Default Form, Timing and Medium of Payment. Except as otherwise may be provided in Sections 8.2, 8.3 or 8.4, the Participant’s Account (or any particular sub-account) shall be distributed in a single lump sum at the following time: (a) with respect to sub-accounts related to the deferral of cash fees or Stock Awards earned for service as a Non-Employee Director, as soon as practicable (but no later than ninety (90) days) after the Non-Employee Director’s Separation from Service, provided that any cash fees deferred for 2024 will be distributed (or distributions will commence) on the first day of the seventh (7th) month following the month in which the Non-Employee Director’s Separation from Service occurs; and (b) with respect to all other sub-accounts, on the first day of the seventh (7th) month following the month in which the Participant’s Separation from Service occurs. All distributions from the Cash Account shall be made in cash and all distributions from the Stock Account shall be made in Shares (provided that fractional shares may be distributed in cash). All Shares payable under the Plan shall be issued from the Equity Plan. All cash distributions hereunder shall be the amount determined as of a Valuation Date that is within two weeks preceding the date of distribution.
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Default Form, Timing and Medium of Payment. Except as otherwise may be provided in this Section or in Section 8.2, 8.3 or 8.4, the Participant’s Account (or any particular sub-account) shall be distributed or commenced to be distributed on the first day of the seventh (7th) month following the month in which the Participant’s Separation from Service occurs in a single sum distribution, or if so elected by the Participant, in installments. If the Participant’s Separation from Service is due to death, the Participant’s Account shall be distributed in a single sum distribution (notwithstanding any installment election previously made) to the Participant’s Beneficiary as soon as practicable following the Participant’s death, but in no event later than ninety (90) days after the date of the Participant’s death. All distributions made pursuant to this Plan shall be made in cash. All distributions hereunder shall be the amount determined as of a Valuation Date that is within two weeks preceding the date of distribution.
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Related to Default Form, Timing and Medium of Payment

  • Timing and Form of Payment Once a Restricted Stock Unit vests, the Participant will be entitled to receive a Share in its place. Delivery of the Share will be made as soon as administratively feasible following the vesting of the associated Restricted Stock Unit. Shares will be credited to an account established for the benefit of the Participant with the Company’s administrative agent. The Participant will have full legal and beneficial ownership of the Shares at that time.

  • Extension of Payment; Reduction of Principal Interest or Fees; Modification of Terms of Payment Whether or not any Loans are outstanding, extend the Expiration Date or the time for payment of principal or interest of any Loan (excluding the due date of any mandatory prepayment of a Loan), the Commitment Fee or any other fee payable to any Lender, or reduce the principal amount of or the rate of interest borne by any Loan or reduce the Commitment Fee or any other fee payable to any Lender, without the consent of each Lender directly affected thereby;

  • Form and Timing of Payment (a) Subject to Section 5 of this Agreement and provided that the Participant has satisfied the vesting requirements of Section 2 or 3 of this Agreement, on each Vesting Date, as applicable, the mPRSUs shall automatically be converted into unrestricted Shares. Such Shares will be issued to the Participant (as evidenced by the appropriate entry in the books of the Company or a duly authorized transfer agent of the Company) on the applicable Vesting Date (or as soon as practicable), but in any event, within the period ending on the later to occur of the date that is 2 ½ months after the end of (i) the Participant’s tax year that includes the applicable Vesting Date, or (ii) the Company’s tax year that includes the applicable Vesting Date. (b) Shares issued in respect of mPRSUs shall be deemed to be issued in consideration of past services actually rendered by the Participant to the Company or a Related Entity or for its benefit for which the Participant has not previously been compensated or for future services to be rendered, as the case may be, which the Company deems to have a value at least equal to the aggregate par value of the Shares subject to the mPRSUs.

  • Timing of Payment Notwithstanding anything herein to the contrary, if the date on which any payment is to be made pursuant to this Indenture or the Notes is not a Business Day, the payment otherwise payable on such date shall be payable on the next succeeding Business Day with the same force and effect as if made on such scheduled date and (provided such payment is made on such succeeding Business Day) no interest shall accrue on the amount of such payment from and after such scheduled date to the time of such payment on such next succeeding Business Day and the amount of any such payment that is an interest payment will reflect accrual only through the original payment date and not through the next succeeding Business Day.

  • Distribution of Payments On and after the Effective Date, the Agent shall make all payments under the Loan Documents in respect of each Assigned Interest (a) in the case of amounts accrued to but excluding the Effective Date, to Assignor and (b) otherwise, to Assignee.