Cashless Settlement definition

Cashless Settlement means a number of the Shares issuable pursuant to the RSUs vesting on that date having an aggregate Fair Market Value that equals the amount of the Company Deposits paid will be sold within an administratively reasonable period of time on or after that date by a broker selected or approved by the Company at such fees and pursuant to such rules and process as the Company may reasonably approve. The Participant will bear the brokerage fees and other costs associated with such sale and related transmission of funds. The net proceeds from such sale will be remitted to the relevant tax authorities in satisfaction of the Company’s obligation to make Company Deposits or paid to the Company in reimbursement of any Company Deposits paid, and any remaining net proceeds shall be delivered to the Participant or a brokerage account maintained for the Participant.
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Cashless Settlement has the meaning set forth in Section 5(d)(i).
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Cashless Settlement means the settlement method pursuant to which an Exercising Owner shall be entitled to receive from the Company, for each Warrant exercised, a number of Common Shares equal to the Cashless Settlement Share Amount without any payment of cash therefor.
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Examples of Cashless Settlement in a sentence

  • Each Rolling Lender authorizes and instructs DBNY to enter into the Cashless Settlement Letter on such Rolling Lender’s behalf.

  • If Cashless Settlement applies to such exercise, a number of shares of Common Stock equal to the greater of (x) zero; and (y) an amount equal to: where: WE = the Warrant Entitlement in effect immediately after the Close of Business on the Exercise Date for such exercise; VP = the Last Reported Sale Price per share of Common Stock on the Exercise Date for such exercise; and SP = the Strike Price in effect immediately after the Close of Business on such Exercise Date.

  • The Cashless Settlement Letter shall have been duly executed and delivered by the Borrowers and each of the other parties thereto to the Administrative Agent.

  • The Company shall be responsible for all calculations and determinations required in connection with any Cashless Settlements and shall provide written notification to the Warrant Agent of the Cashless Settlement Share Amount to be issued on the Settlement Date for any Cashless Settlement.

  • Notwithstanding anything to the contrary in this Warrant Agreement, Cashless Settlement of any Warrant will not be permitted unless and until no shares of Series B Preferred Stock issued pursuant to the Purchase Agreement remain outstanding.

  • Notwithstanding the foregoing, nothing in this Section 2.2(d) shall be construed to change the meaning or the intent of the Statement as originally filed as Annex A to the Partnership Agreement with respect to any provision other than as such may relate to Cashless Conversion or, in the case of Cashless Settlement, as specifically provided in this Section 2.2(d).

  • The undersigned Repricing Term Loan Lender hereby consents to the Amendment and agrees as follows with respect to its Existing Term Loans: [Check ONLY ONE of the two boxes below] Consent and Cashless Settlement Option The undersigned Repricing Term Loan Lender agrees to 100% of the outstanding principal amount of such Repricing Term Loan Lender’s Existing Term Loans converted, on a cashless basis, to Repriced Term Loans for all purposes under the Amended Credit Agreement.

  • The Cashless Settlement Form shall serve as the Lender’s signature page to this First Amendment.

  • The Borrower shall use the proceeds of the Borrowing under the Term Loan Facility (i) to refinance the Existing Term Loans (including in respect of the Closing Date Cashless Settlement Exchange), (ii) to repay any amounts outstanding under the Revolving Credit Agreement and (iii) for other general corporate purposes.

  • Notwithstanding anything to the contrary in this Warrant Agreement, Cashless Settlement of any Warrant will not be permitted unless and until no shares of Series C Preferred Stock issued pursuant to the Purchase Agreement remain outstanding.