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

  • Definitions Section 1.01 Defined Terms 3 Section 1.02 Terms Generally 75 Section 1.03 Classification of Loans, Commitments and Borrowings 75 Section 1.04 Exchange Rates and Conversion of Foreign Currencies 75 Section 1.05 Limited Condition Transactions 76 Section 1.06 Divisions 77 Section 1.07 Financial Ratios 77 Section 1.08 Cashless Settlement 78 Section 1.09 Calculation of Baskets and Ratios 78 ARTICLE II.

Related to Cashless Settlement

  • PJM Settlement or “PJM Settlement, Inc.” shall mean PJM Settlement, Inc. (or its successor), established by PJM as set forth in Section 3.3 of the Operating Agreement.

  • Final Settlement means permanent settlement of the Contractor’s actual allowable costs or expenditures as determined at the time of audit, which shall be completed within three years of the date the year-end cost settlement report was accepted for interim settlement by the State. If the audit is not completed within three years, the interim settlement shall be considered as the final settlement.

  • Cashless Exercise means a Cashless Exercise as defined in Section 6.3(b)(i).

  • Net Settlement Fund means the Settlement Fund less: (i) Court-awarded attorneys’ fees and expenses; (ii) Notice and Administration Expenses; (iii) Taxes; and (iv) any other fees or expenses approved by the Court.

  • Retail Settlement Code means the code approved by the Board and in effect at the relevant time, which, among other things, establishes a distributor’s obligations and responsibilities associated with financial settlement among retailers and customers and provides for tracking and facilitating customer transfers among competitive retailers;