Non-Elections Clause Samples

Non-Elections. Shareholders who fail or choose not to make an election as to whether they wish to receive all cash, all PCC common stock, or a mixture of cash and stock, and shareholders who do not make a valid election, will be deemed to have made a "non-election." Shareholders who are deemed to have made a non-election will receive for each share of SPS common stock owned (i) $21.50 in cash and (ii) 0.68 of a share of PCC common stock, subject to the adjustments and pro-ration procedures described below, plus cash in lieu of any fractional share.
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Non-Elections. For those employees electing not to participate in any part of the insurance program, $130 per month may be received as a cash benefit in the employee’s monthly pay, as long as this is permitted by the insurance policy that the District and TEA accept.
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Non-Elections. Shareholders who fail or choose not to make an election as to whether they wish to receive all cash, all PCC common stock, or a mixture of cash and stock, and shareholders who do not make a valid election, will be deemed to have made a “non-election.” Shareholders who are deemed to have made a non-election will receive for each share of SPS common stock owned (i) $21.50 in cash and (ii) 0.68 of a share of PCC common stock, subject to the adjustments and pro-ration procedures described below, plus cash in lieu of any fractional share. Pro-ration Procedures. Pursuant to the terms of the merger agreement, 50% of the total number of shares of SPS common stock outstanding immediately prior to the effective time of the merger will be converted into the right to receive PCC common stock and the remaining 50% will be converted into the right to receive cash. Therefore, all elections and non-elections are subject to pro-ration to preserve these limitations, as more fully described in the proxy statement/prospectus under the caption “The Merger Agreement?Merger Consideration”. You may obtain a copy of the proxy statement/prospectus free of charge at the SEC website, ▇▇▇.▇▇▇.▇▇▇ or by contacting SPS Investor Relations at (▇▇▇) ▇▇▇-▇▇▇▇ or PCC’s Director of Communications at (▇▇▇) ▇▇▇-▇▇▇▇.
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Non-Elections. Employees who had elected prior to January 1, 2021 may waive Telluride School District’s coverage in lieu of the grandfathered $130 monthly cash benefits long as this is permitted by the insurance policy that the District and TEA accept.
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Related to Non-Elections

  • Initial Election The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

  • Deferral Election A Participant may elect to defer all or a specified percentage of the Compensation earned in a Plan Year by such Participant for serving as a member of the Board of any Participating Fund or as a member of any committee or subcommittee thereof. Reimbursement of expenses of attending meetings of the Board, committees of the Board or subcommittees of such committees may not be deferred. Such election shall be made by executing before the first day of such Plan Year such election notice as the Administrator may prescribe; provided, however, that upon first becoming eligible to participate in the Plan by reason of appointment to a Board, a Participant may file a Deferral Election not later than 30 days after the effective date of such appointment, which election shall apply to Compensation earned in the portion of the Plan Year commencing the day after such election is filed and ending on the last day of such Plan Year.

  • Written Election At the time you make a rollover or conversion to a ▇▇▇▇ ▇▇▇, you must designate in writing to the custodian your election to treat that contribution as a rollover or conversion. Once made, the election is irrevocable.

  • 83(b) Election You may make and file with the Internal Revenue Service an election under Section 83(b) of the Code with respect to the grant of the Restricted Shares hereunder, electing to include in your gross income as of the Grant Date the Fair Market Value of the Restricted Shares as of the Grant Date. You shall promptly provide a copy of such election to the Company. If you make and file such an election, you shall make such arrangements in accordance with Section 8 as are satisfactory to the Committee to provide for the timely payment of all applicable withholding taxes.

  • Continuation and Conversion Elections (a) The Borrower may (provided that the Borrowing of SOFR Rate Loans is then permitted under Section 2.3(a)): (i) elect with written notice, one Business Day prior, by 1:00 p.m. (New York City time), to convert any Base Rate Loans (or any part thereof) into SOFR Rate Loans; and (ii) elect with written notice, as of the last day of the applicable Interest Period, to continue any SOFR Rate Loans (or any part thereof) having Interest Periods expiring on such day; provided that if the Notice of Continuation/Conversion shall fail to specify the duration of the Interest Period, such Interest Period shall be one month. (b) The Borrower shall deliver a notice of continuation/conversion substantially in the form of Exhibit B (a “Notice of Continuation/Conversion”) to the Agent not later than 1:00 p.m. (New York City time) at least three (3) Business Days in advance of the Continuation/Conversion Date if the Term Loans are to be converted into or continued as SOFR Rate Loans and specifying: (i) the proposed Continuation/Conversion Date; (ii) the aggregate principal amount of Term Loans to be converted or continued; (iii) the Type of Term Loans resulting from the proposed conversion or continuation; and (iv) the duration of the requested Interest Period, provided, however, the Borrower may not select an Interest Period that ends after the Stated Termination Date. (c) If, upon the expiration of any Interest Period applicable to any SOFR Rate Loans, the Borrower fails to select timely a new Interest Period to be applicable to such SOFR Rate Loans, the Borrower shall be deemed to have elected to convert such SOFR Rate Loans into Base Rate Loans effective as of the expiration date of such Interest Period. If any Event of Default exists, at the election of the Agent or the Required Lenders, all SOFR Rate Loans shall be converted into Base Rate Loans as of the expiration date of each applicable Interest Period. (d) The Agent will promptly notify each Lender of its receipt of a Notice of Continuation/Conversion. All conversions and continuations shall be made ratably according to the respective outstanding principal amounts of the Term Loans with respect to which the notice was given held by each Lender. (e) There may not be more than ten different SOFR Rate Loans in effect hereunder at any time.