Common use of Not Assumed or Substituted Clause in Contracts

Not Assumed or Substituted. If this Award is not assumed or substituted in connection with a Change in Control, immediately prior to the occurrence of the Change in Control, (1) such Award shall become fully vested and, if applicable, exercisable, (2) the restrictions, payment conditions, and forfeiture conditions applicable to any such Award granted shall lapse, and (3) any performance conditions imposed with respect to the Award shall be deemed to be achieved at the actual level of performance at the time of the Change in Control, or, if not determinable, at the applicable target level of performance.

Appears in 3 contracts

Samples: Performance Restricted Stock Unit Award Agreement (TopBuild Corp), Restricted Stock Unit Award Agreement (TopBuild Corp), Restricted Stock Award Agreement (TopBuild Corp)

AutoNDA by SimpleDocs

Not Assumed or Substituted. If this Award is not assumed or substituted in connection with a Change in Control, immediately prior to the occurrence of the Change in Control, (1) such Award shall become fully vested and, if applicable, exercisable, (2) the restrictions, payment conditions, and forfeiture conditions applicable to any such Award granted shall Performance Restricted Stock Award Agreement ​ lapse, and (3) any performance conditions imposed with respect to the Award shall be deemed to be achieved at the actual level of performance at the time of the Change in Control, or, if not determinable, at the applicable target level of performance.

Appears in 1 contract

Samples: Performance Restricted Stock Award Agreement (TopBuild Corp)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.