Payout Cap definition
Payout Cap means the value equal to four times the Fair Market Value of the Target Number of Shares on the Grant Date. If the resulting value of Shares eligible to vest, determined by multiplying the number of Shares eligible to vest by the Fair Market Value of Shares on the last day of the Performance Period, exceeds the Payout Cap, the Payout Multiple will be reduced to the degree necessary for the value of the resulting number of Shares eligible to vest to equal the Payout Cap, with allowance for rounding practices consistent with standard administration of the Award. For the avoidance of doubt, the Payout Cap shall in no event be interpreted or construed to restrict the Committee’s authority to exercise its discretion to reduce the number of Shares eligible to vest below the number otherwise determined pursuant this Section 2.
Payout Cap means a percentage of the Nominal Amount as specified in the relevant Final Terms. “Payout Date” means a date so specified in the relevant Final Terms.
Payout Cap means a maximum amount that will be paid for one hand of play without regard to the number of patrons at the table or the number of bets/wager made, including side bets.
More Definitions of Payout Cap
Payout Cap means the maximum amount that would be available for Claim settlement as per the terms stipulated by the Trust from time to time.