Other Acceleration Rules Sample Clauses
The "Other Acceleration Rules" clause defines additional circumstances under which obligations, such as loan repayments or contract performance, may become due earlier than originally scheduled. This clause typically outlines specific events or conditions—beyond standard defaults—that can trigger the immediate acceleration of outstanding amounts, such as breaches of covenants, insolvency, or changes in control. Its core practical function is to protect the interests of the party entitled to payment or performance by ensuring they can demand immediate fulfillment if certain risks materialize, thereby mitigating potential losses or exposure.
Other Acceleration Rules. Any acceleration of awards pursuant to this Section 7 shall comply with applicable legal requirements and, if necessary to accomplish the purposes of the acceleration or if the circumstances require, may be deemed by the Administrator to occur a limited period of time not greater than 30 days before the event. Without limiting the generality of the foregoing, the Administrator may deem an acceleration to occur immediately prior to the applicable event and/or reinstate the original terms of an award if an event giving rise to an acceleration does not occur. The Administrator may override the provisions of Section 7.2, 7.3, 7.4 and/or 7.6 by express provision in the award agreement and may accord any Eligible Person a right to refuse any acceleration, whether pursuant to the award agreement or otherwise, in such circumstances as the Administrator may approve. The portion of any ISO accelerated in connection with a Change in Control Event or any other action permitted hereunder shall remain exercisable as an ISO only to the extent the applicable $100,000 limitation on ISOs is not exceeded. To the extent exceeded, the accelerated portion of the option shall be exercisable as a nonqualified stock option under the Code.
Other Acceleration Rules. Any acceleration of the Option pursuant to this Section 4.3 shall comply with applicable legal requirements and, if necessary to accomplish the purposes of the acceleration or if the circumstances require, may be deemed by the Administrator to occur a limited period of time not greater than 30 days before the event that triggered such acceleration. Without limiting the generality of the foregoing, the Administrator may deem an acceleration to occur immediately prior to the applicable event and/or reinstate the original terms of the Option if the event giving rise to such acceleration does not occur. The Administrator may accord the Optionee a right to refuse any acceleration in such circumstances as the Administrator may approve. If the Option is designated as an ISO, the portion of the Option accelerated in connection with a Change in Control Event (or such other circumstances as may trigger accelerated vesting of the Option) shall remain exercisable as an ISO only to the extent the applicable $100,000 limitation on ISOs is not exceeded. To the extent exceeded, the accelerated portion of the Option shall be exercisable as a nonqualified stock option.
Other Acceleration Rules. Any acceleration of awards pursuant to this Section 4 shall comply with applicable legal requirements and, if necessary to accomplish the purposes of the acceleration or if the circumstances require, may be deemed by the Corporation to occur a limited period of time not greater than 30 days before the event. Without limiting the generality of the foregoing, the Corporation may deem an acceleration to occur immediately prior to the applicable event and/or reinstate the original terms of the Option if an event giving rise to an acceleration does not occur. The Corporation may accord the Grantee a right to refuse any acceleration pursuant to this Section 4 in such circumstances as the Corporation may approve.