Payment Event means any of the following:
Payment Event means (a), the Debt Service Coverage Ratio with respect to any DSCR Determination Date is less than or equal to 1.50 to 1.00 (including if the Debt Service Coverage Ratio is less than or equal to 1.25 to 1.00), or (b) an Event of Default or Term Trigger Event has occurred. A Payment Event shall be deemed continuing until (i) with respect to clause (a), the Debt Service Coverage Ratio is greater than 1.50 to 1.00 on a DSCR Determination Date or (ii) such Event of Default or Term Trigger Event shall no longer be continuing.
Examples of Payment Event in a sentence
Payment shall be made as soon as administratively practicable (not more than thirty (30) days) after the Payment Event by the Company issuing to the Participant one (1) share of Stock with respect to each Vested Stock Unit or, at the Committee’s discretion, paying to the Participant a sum of cash equal to the Fair Market Value of one (1) share of Stock, as of the settlement date.
Any fractional Dividend Equivalent Units shall be carried forward to the Payment Event, and on the Payment Event any fractional Dividend Equivalent Units then payable shall be settled in cash.
Subject to the provisions of Section 5.3 and Section 5.4 below, the Vested Stock Units shall become payable upon the Payment Event.
More Definitions of Payment Event
Payment Event means the earliest of the following: Retirement, death, Separation from Service other than due to Retirement or death, or Disability.
Payment Event has the meaning specified in Section 5.03(d).
Payment Event means the applicable event triggering a payment of vested benefits under the Plan. The applicable event shall be one of the following:
Payment Event means the termination of this Agreement pursuant to Section 12.1(a)(iv) or (v).
Payment Event means the termination of this Agreement pursuant to:
Payment Event has the meaning set forth in Section 6.8(g).