Default Number definition

Default Number means, for a Purchaser, the number of Total Shares of such Purchaser less (i) with respect to Purchasers other than Keylock, Mazelina and Heavy Metal, the Penalty Shares Retained of such Purchaser, and (ii) with respect to Keylock, Mazelina and Heavy Metal, the sum of (A) the Penalty Shares Retained by Keylock, Heavy Metal or Mazelina, as the case may be, and (B) with respect to Heavy Metal, 30,000; with respect to Keylock, 15,075; and with respect to Mazelina, 14,925.
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Examples of Default Number in a sentence

  • In the event a Qualifying Termination or Retirement is followed by a Change in Control Transaction that precedes the Performance & Service Period End Date, then, subject to the Release Requirement, the number of Performance Units that will vest upon the Change in Control Transaction will be determined on a pro-rata basis as calculated in Section 7(a) above, except that the Change in Control Transaction Determined Units (as defined in Section 8(a)) will be substituted for the Default Number of Units.

  • In the event a Qualifying Termination is followed by a Control Transaction that precedes the scheduled end of the Performance Period, the number of PRSUs that will vest upon the Control Transaction will be determined on a pro-rata basis as calculated in Section F.1 above, except that a number of PRSUs corresponding to the CIC Achievement Level (as defined in Section G.1) will be substituted for the Default Number of Units.

  • In the event a Qualifying Termination is followed by a Change In Control that precedes the scheduled end of the Performance Period, the number of Finalized Awarded Units that will vest upon the Change In Control will be determined on a pro-rata basis in the same manner as calculated in Section F.1 above, except that a number of Finalized Awarded Units as determined based upon the CIC Achievement Level (as defined in Section G.1) will be substituted for the Default Number of Units.

  • Date of Default* Number of Shares** --------------- ---------------- July 1, 1996 - June 30, 1997 662,500 July 1, 1997 - June 30, 1998 441,667 July 1, 1998 - June 30, 1999 220,833 Thereafter 0 * The applicable number of shares shall be determined by the period in which the date of default, set forth in the relevant default notice, occurs.

  • In the event a Qualifying Termination is followed by a Change in Control Transaction that precedes the last day of the Performance Period, the number of Performance Units that will vest upon the Change in Control Transaction will be determined on a pro-rata basis as calculated in Section 7(a) above, except that a number of Performance Units corresponding to the CIC Achievement Level (as defined in Section 8(a)) will be substituted for the Default Number of Units.

  • Employee’s PSUs shall vest according to Section F of the applicable PSU Award Agreements such that Employee shall be entitled to receive the Change in Control Determined Units (as defined in the applicable PSU Award Agreements) in lieu of the Default Number of PSUs, with such Change in Control Determined Units subject to the Pro-Rata Reduction.

  • Employee’s PSUs shall vest according to Attachment I, Section F of the applicable PSU Award Agreements, except that Employee shall be entitled to receive the full Default Number of PSUs without any Pro-Rata Reduction (as such terms are defined in the PSU Award Agreements).

Related to Default Number

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • default value means a value derived from a typical value by the application of pre-determined factors and that may, in circumstances specified in this Directive, be used in place of an actual value;’;

  • Default Conversion Price shall have the meaning set forth in Section 4(b).

  • Default Notice means the written notice of Default of the Agreement issued by one Party to the other.

  • Special Default means (i) the failure by Owner to pay any amount of principal of or interest on any Equipment Note when due or (ii) the occurrence of any Default or Event of Default referred to in Section 5.01(v), (vi) or (vii).