Payout Value definition

Payout Value means, for each Performance Unit, the product of the Payout Percentage and $1.00.

Payout Value means $1.25, being the product of (i) the Exchange Ratio, multiplied by (ii) the volume weighted average price on the Nasdaq of a Purchaser Share for the 60 trading day period ending on April 5, 2023;

Payout Value means the product of (i) the Exchange Ratio, multiplied by (ii) the volume-weighted average price on the TSX of the West Fraser Shares for a five Business Day period, starting with the opening of trading on the seventh Business Day prior to the Effective Date to the closing of trading on the third to last Business Day prior to the Effective Date, as reported by Bloomberg;

Examples of Payout Value in a sentence

• If, in accordance with the Board’s determination under Paragraph 2, the Payout Value is zero, the Participant shall immediately forfeit any and all rights to the Performance Units.

• If, in accordance with the Committee’s determination under Paragraph 2, the Payout Value is zero, the Participant shall immediately forfeit any and all rights to the Performance Units.

• The Payout Value shall be distributed 75% in cash and 25% in common units.

• The number of common units distributed shall be calculated by dividing 25% of the Payout Value by the Fair Market Value of the common units on the date on which the Payout Percentage is certified by the Board, rounding down to the nearest whole unit.

• Following the Board’s determinations pursuant to Paragraph 2, the Participant shall vest in and be entitled to receive a payment equal to the Payout Value.

More Definitions of Payout Value

Payout Value means, except as provided in Paragraphs 6 or Paragraph 8 of this Award Agreement, for each Performance Unit the Fair Market Value of a share of Common Stock on December 31, 2019.

Payout Value means, (a) in the case of a dissent in respect of a resolution, the fair value that the notice shares had immediately before the passing of the resolution, (b) in the case of a dissent in respect of an arrangement approved by a court order made under section 291 (2) (c) that permits dissent, the fair value that the notice shares had immediately before the passing of the resolution adopting the arrangement, or (c) in the case of a dissent in respect of a matter approved or authorized by any other court order that permits dissent, the fair value that the notice shares had at the time specified by the court order, excluding any appreciation or depreciation in anticipation of the corporate action approved or authorized by the resolution or court order unless exclusion would be inequitable.

Payout Value means the product of the Payout Percentage and the number of Performance Units.

Payout Value means the product of (i) the Exchange Ratio, multiplied by (ii) the Triple Flag Share VWAP.

Payout Value means, with respect to a Sub Account, the amount credited to such Sub Account as of the Settlement Date of such Sub Account in accordance with the provisions of Article 6. The Payout Value and the Vesting Date Value for a Sub Account shall be the same if the Participant does not elect to defer distribution of such Sub Account beyond the Vesting Date for such Sub Account.

Payout Value means the product of (i) the Exchange Ratio, multiplied by (ii) the Triple Flag Common Share VWAP;

Payout Value means the product of the Payout Percentage, the applicable number of Performance Units for the applicable Performance Period, and $1.00. Marathon Petroleum Corporation By: Its Authorized Officer I AGREE TO THE TERMS AND CONDITIONS OF THIS AWARD AGREEMENT: {ACCEPTANCE DATE} {PARTICIPANT’S ELECTRONIC SIGNATURE}