Cumulative Payout definition

Cumulative Payout means, with respect to each month, X minus Y, where: “X”= the sum of (i) such month’s Monthly Payout plus (ii) all previous months’ Monthly Payouts plus (iii) any distribution received by the Limited Partner under Section 4.4(b) times the Payout Discount Factor for the month in which such distribution is so received; and
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Examples of Cumulative Payout in a sentence

  • The distribution to the Limited Partner of assets under the immediately preceding sentence which would otherwise be distributable to the General Partner in accordance with this Section 10.2 shall constitute liquidated damages to the Limited Partner for a violation by the General Partner prior to Cumulative Payout of the covenant and agreement contained in the first sentence of this Section 10.2, the parties having agreed that the amount of actual damages would be difficult or impossible to calculate.

  • Upon such determinations by the Committee, the applicable portion of the Units determined by the Cumulative Payout Percentage (as defined in the Performance Matrix) as a fraction of the Target Award shall vest and become non-forfeitable (subject to the Participant’s continuous Service from the Grant Date through the end of the Performance Period except as provided by Section 2.2(b) or (c) of the Restricted Stock Units Agreement) (each such Unit, a “Vested Unit”).

  • Upon such determinations by the Committee, the applicable portion of the Units determined by the Cumulative Payout Percentage (as defined in the Performance Matrix) as a fraction of the Target Award shall vest and become non-forfeitable (subject to the Participant’s continuous Service from the Grant Date through the end of the Performance Period except as provided by Section 2.2(b) of the Restricted Stock Units Agreement) (each such Unit, a “Vested Unit”).