PCDS definition
Examples of PCDS in a sentence
An FCDS or PCDS Seller shall have either previously obtained, or is obligated to obtain per the terms of the Agreement, a FCDS or PCDS Finding.
The Effective FCDS Date or Effective PCDS Date must occur on or before the Deliverability Finding Deadline; a failure to do so shall constitute an Event of Default under Section 5.1(a)(iii).
The Termination Payment for an Event of Default caused by Seller’s failure to achieve the Effective FCDS Date or Effective PCDS Date on or before the Deliverability Finding Deadline shall be capped at the amount of Seller’s Delivery Term Security or Term Security obligation under Section 8.4(a)(ii) or (iii), as applicable.
The Termination Payment for an Event of Default caused by Seller’s failure to achieve the Effective FCDS Date or Effective PCDS Date on or before the Deliverability Finding Deadline shall be capped at the amount of Seller’s Delivery Term Security obligation under Section 8.4(a)(ii).
The Recipient will not be entitled to receive any shares of CDI Stock with respect to shares of PCDS which have been earned until the shares of CDI Stock have vested.
The shares of PCDS may not be transferred, in whole or in part, except (a) by will or the applicable laws of descent and distribution or (b) with the prior written approval of the Committee, to the spouse or descendant of the Recipient or a trust for the benefit of the spouse or descendants.
Neither the Recipient nor any person to whom the Recipient’s rights shall have passed by will or by the laws of descent and distribution shall have any of the rights of a shareholder with respect to any shares of PCDS or any shares of CDI Stock issuable in connection with the PCDS until the date of issuance to the Recipient of a certificate (or book entry issuance) for shares of CDI Stock.
The Termination Payment for an Event of Default caused by Seller’s failure to achieve the Effective FCDS Date or Effective PCDS Date on or before the Deliverability Finding Deadline shall be capped at the amount of Seller’s Delivery Term Security or Term Security obligation under Section 8.3(a)(ii) or (iii), as applicable.
The Company hereby grants to [name of recipient] (the “Recipient”) a target number of [number] shares of Performance-Contingent Deferred Stock (“PCDS”), with a maximum possible payout of up to two times the target number of shares of PCDS.
Shares of PCDS will be earned and then converted into an equivalent number of shares of CDI Stock (subject to vesting) depending on the Company’s achievement of the financial measures as set forth in Attachment 1.