Fractional entitlements Sample Clauses
The 'Fractional entitlements' clause defines how rights or benefits that cannot be distributed in whole units are handled under an agreement. In practice, this clause typically applies to situations such as share distributions, dividends, or other allocations where the total amount does not divide evenly among recipients, resulting in fractions of units. The clause usually specifies whether these fractional amounts are rounded up, rounded down, or paid out in cash. Its core function is to ensure clarity and fairness in the distribution process, preventing disputes over small, indivisible amounts.
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Fractional entitlements. Notwithstanding anything to the contrary contained in this Clause 4, no Fractional Entitlements shall be issued by Holdco under Clause 4.1 or Clause 4.3, and all Fractional Entitlements shall be aggregated and sold in the market with the net proceeds of any such sale distributed pro-rata to the holders of ▇▇▇▇▇▇ Share Awards.
Fractional entitlements. Fractional entitlements to the consideration offered under clause 4.1(a)(i) (B) will be rounded up to nearest whole number of shares of ▇▇▇▇▇▇ Common Stock, after aggregating all holdings of a Share Scheme Participant.
Fractional entitlements. Any fractional entitlement of a Scheme Shareholder to a part of a New Vocus Share will be rounded up or down to the nearest whole number of New Vocus Shares (rounded up if the fractional entitlement is equal to or greater than one half, and rounded down if the fractional entitlement is less than one half).
Fractional entitlements. Fractions of New NortonLifeLock Shares will not be allotted to Avast Shareholders. Instead, Avast Shareholders shall receive, in lieu of such fractional entitlements, cash in an amount in USD (rounded down to the nearest cent) (unless an Avast Shareholder has elected to receive cash consideration in GBP rather than USD, in which case such Avast Shareholder shall receive, in lieu of fractional entitlements, cash in an amount in GBP (rounded down to the nearest p▇▇▇▇)) equal to such fractional amount multiplied by the last reported sale price of NortonLifeLock Shares on NASDAQ (as reported in The Wall Street Journal or, if not reported therein, in another authoritative source selected by Bidco) on the last Business Day prior to the Effective Date.
Fractional entitlements. If, at the end of a vacation year, an employee’s entitlement to vacation leave with pay includes a fractional entitlement of less than 3.75 hours, the entitlement shall be increased to the nearest 3.75 hours. If, at the end of a vacation year, an employee’s entitlement to vacation leave with pay includes a fractional entitlement of more than 3.75 hours, the entitlement shall be increased to 7.5 hours.
Fractional entitlements. Subject to the Shareholders' Agreement, the Board may deal with any fractional entitlements to Shares in such manner as the Board considers fair and reasonable and in the best interests of the Company.
Fractional entitlements. (a) Any fractional entitlement of a Scheme Shareholder to a part of a New Vocus Share will be rounded up or down to the nearest whole number of New Vocus Shares (rounded up if the fractional entitlement is equal to or greater than one half, and rounded down if the fractional entitlement is less than one half).
(b) Vocus may, acting reasonably and in consultation with M2, deem the holdings of two or more Scheme Shareholders to be held by one Scheme Shareholder to prevent any Share Splitting designed to obtain unfair advantage by reference to such rounding.
Fractional entitlements if, at the end of a vacation year, an employee’s entitlement to vacation leave with pay includes a fractional entitlement of less or more than one half day (1/2), the entitlement shall be increased to the nearest one half (1/2) day.
Fractional entitlements. Fractional entitlements to Option Scheme Consideration will be rounded down to the nearest whole number of Unilife Corporation Options after aggregating all holdings of such Scheme Optionholder.
Fractional entitlements. The number of Conversion Shares to be issued to the Investor must be rounded up to the nearest whole number if there is a fractional entitlement.