Permitted Acceleration Event definition

Permitted Acceleration Event means (i) with respect to any Incentive Award that is subject to performance-based vesting, the full or partial vesting of such Incentive Award based on satisfaction of the applicable performance-based conditions, (ii) the occurrence of a Change in Control or an event described in Section 10(b), (c) or (d) or (iii) any termination of the employment of a Participant, other than a termination for cause (as defined by the Committee) or voluntary termination prior to retirement (as defined by the Committee).
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Permitted Acceleration Event means one of the following: (i) termination of Grantee’s employment by the Corporation without Cause or by the Grantee for Good Reason (solely to the extent Grantee and the Corporation are parties to an employment agreement that defines Good Reason); (ii) Qualified Retirement; or (iii) the Grantee’s death or Disability. In the event that Grantee’s employment is terminated (i) by the Corporation without Cause, or (ii) or by the Grantee for Good Reason, a number of shares of Restricted Stock under the 2021 Restricted Stock Award shall vest (A) if such termination occurs within one (1) year following the occurrence of a Change of a Control, on the termination date, in an amount equal to the full number of shares under the 2021 Restricted Stock Award, and (B) if such termination does not occur within one (1) year following the occurrence of a Change of a Control, on the Vesting Date, in an amount equal to the product of (x) the number of shares of Restricted Stock under the 2021 Restricted Stock Award that would otherwise performance vest in accordance with Section 3.3 hereof, if any, and (y) a fraction, the numerator of which shall be the number of full months of service completed by the Grantee from October 1, 2021 through the termination date, and the denominator of which shall be 30. In the event of Grantee’s Qualified Retirement, the number of shares of Restricted Stock that performance vest in accordance with Section 3.3 hereof shall vest on the Vesting Date. In the event of Grantee’s death or Disability, the full number of shares under the 2021 Restricted Stock Award shall vest on the date of death or Disability.
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Permitted Acceleration Event means one of the following: (i) termination of Grantee’s employment by the Corporation without Cause or by the Grantee for Good Reason (solely to the extent Grantee and the Corporation are parties to an employment agreement that defines Good Reason) within one (1) year following the occurrence of a Change in Control; (ii) a Change in Control in a transaction described in Section 10(d) of the Plan in which the Corporation’s Class A Shares are no longer outstanding and publicly traded immediately following any such transaction; or (iii) the Grantee’s death or Disability. In the event that the Grantee (i) is terminated by the Corporation without Cause (subject to such termination not otherwise being a Permitted Acceleration Event), or (ii) resigns for Good Reason, a number of shares of Restricted Stock under the 2019 Restricted Stock Award shall vest (A) if such termination occurs prior to the Determination Date, on the Determination Date, in an amount equal to the product of (x) the number of shares of Restricted Stock under the 2019 Restricted Stock Award that would otherwise vest in accordance with Section 3.3 hereof, if any, and (y) a fraction, the numerator of which shall be the number of full months of service completed by the Grantee from January 1, 2020 through the termination date, and the denominator of which shall be 36 and (ii) if such termination occurs following the Determination Date, on the termination date, in an amount equal to the product of (x) the number of shares of Restricted Stock under the 2019 Restricted Stock Award that performance vested in accordance with Section 3.3 hereof, if any, and (y) a fraction, the numerator of which shall be the number of full months of service completed by the Grantee from January 1, 2020 through the termination date, and the denominator of which shall be 36. Any portion of the 2019 Restricted Stock Award that does not and, as a result of the application of Section 3.3 cannot, vest in accordance with Section 3.3 hereof shall be forfeited and automatically transferred to and reacquired by the Corporation at no cost to the Corporation on the Determination Date, and neither the Grantee nor any heirs, executors or successors of the Grantee shall thereafter have any right or interest in such shares of Restricted Stock.
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Examples of Permitted Acceleration Event in a sentence

  • Notwithstanding anything in this Section 8, no Other Stock-Based Award shall vest or otherwise become payable earlier than three years following the date on which it is granted, other than upon the occurrence of a Permitted Acceleration Event.

  • In no event shall any new Incentive Award granted under this Plan vest or otherwise become payable earlier than one (1) year following the date on which it is granted, other than upon the occurrence of a Permitted Acceleration Event.


More Definitions of Permitted Acceleration Event

Permitted Acceleration Event means the occurrence of an “Event of Default” (as defined in the Subordinated Loan Agreement) by reason of the failure of Frederick’s to pay interest on the Tranche C Term Loan in a stated amount and on a stated date of payment thereof as set forth in the Subordinated Loan Agreement as in effect on the date hereof.
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Related to Permitted Acceleration Event

  • Acceleration Event means the occurrence of an Event of Default (a) in respect of which Agent has declared all or any portion of the Obligations to be immediately due and payable pursuant to Section 10.2, (b) pursuant to Section 10.1(a), and in respect of which Agent has suspended or terminated the Revolving Loan Commitment pursuant to Section 10.2, and/or (c) pursuant to either Section 10.1(e) and/or Section 10.1(f).

  • Swap Termination Event means a "Swap Termination Event" or similar term as provided in the Swap Agreement.

  • Specified Event of Default means any Event of Default pursuant to Section 9.01(a), Section 9.01(f) or Section 9.01(g).

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • Acceleration Date on any Security means the date on and after which the principal or any or all installments of interest, or both, are due and payable on any Security which has become accelerated pursuant to the terms of the Security.

  • Termination Events means each of the events specified in Clause 10.3 of this Contract.

  • Repayment Event means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • Application Event means the occurrence of (a) a failure by Borrowers to repay all of the Obligations in full on the Maturity Date, or (b) an Event of Default and the election by Agent or the Required Lenders to require that payments and proceeds of Collateral be applied pursuant to Section 2.4(b)(iii) of this Agreement.

  • 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.

  • Amortization Event has the meaning specified in Article IX.

  • Issuer Event of Default means the occurrence of any of the following events: