Full Acceleration Clause Samples
Full Acceleration. If, within two years after the Change in Control and prior to your Normal Retirement Date, your employment with the Company is terminated by the Company without Cause or by you because of a Demotion, the vesting of your right to exercise each Emulex Option held by you as of the Termination Date will be fully accelerated as of the Termination Date so that you will have the right to exercise such Emulex Option in full at any time during its remaining term.
Full Acceleration. The parties agree that paragraph 1 of the Addendum to the Option Agreement is hereby deleted in its entirety with respect to the 150,000 Shares Option and replaced by paragraph 1 set forth below, to provide for full acceleration of the vesting of the 150,000 Shares Option upon a Change in Control of the Company:
"1. In the event of a Change in Control of the Company, the 150,000 Shares Option (or any replacement grant), to the extent outstanding at the time but not otherwise fully exerciseable, shall automatically accelerate such that the 150,000 Shares Option shall, immediately prior to the effective date of the change in Control, be fully exercisable for all of the Option Shares and may be exercised for any or all of such accelerated Option Shares as fully-vested shares of Common Stock."
Full Acceleration. This Note shall, at the option of Tivi▇, ▇▇come immediately due and payable without notice or demand by Tivi▇ ▇▇ the maker upon the occurrence of any of the following events (each being an "EVENT OF DEFAULT"):
(a) Failure of the maker to pay within ten (10) days after notice thereof by Tivi▇ ▇▇ the maker that any payment of principal or interest herein required shall have become due and not paid in a timely manner;
(b) Dissolution or termination of existence of the maker or of any endorser hereon or guarantor hereof; or
(c) The making of an assignment for the benefit of creditors, insolvency, appointment of a receiver (not discharged within sixty (60) days) of any part of the property of, or the filing of a petition in bankruptcy, or the commencement of any proceedings under any bankruptcy or insolvency law or any law relating to the relief of debtors, readjustment or indebtedness, reorganization, composition or extension, by or (if not discharged within sixty (60) days) against, the maker or any endorser hereon or guarantor hereof.
Full Acceleration. Unless otherwise prohibited by law, upon the occurrence of any of the following events, the Holder of this Note shall have the option, without demand or notice, to declare the entire balance of principal of this Note to be immediately due and payable:
(i) Borrower defaults in the payment of principal when due pursuant to the terms hereof or defaults in the performance of any obligation of Borrower or other agreement (including any amendment, modification or extension thereof) which may hereafter be executed by Borrower for the purpose of securing this Note;
(ii) Borrower, without prior written consent of Lender, voluntarily or by operation of law sells, conveys, assigns, or otherwise transfers, all or substantially all, or any portion of, or interest in the Property Security.