Settlement Event definition

Settlement Event means the resolution of the legal proceedings between Consumer Portfolio Services, Inc. and Stanwich Financial Services, Corp. by entry of a final order, not subject to appeal in such a manner that the outcome would not have a material adverse effect on the operation or financial condition of CPS.

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Settlement Event means the earliest to occur of (i) the Normal Vesting Date, (ii) the termination of Participant’s status as a Service Provider (or for U.S. taxpayers “separation from service” within the meaning of Section 409A) due to death or Disability, provided Participant has at least one year of Service Provider status as of the effective date of such termination (a “Death or Disability Termination”), and (iii) a termination of Participant’s status as a Service Provider (or for U.S. taxpayers “separation from service” within the meaning of Section 409A) (x) by the Company without Cause (as defined in the Company’s Change in Control Policy) or (y) by Participant for Good Reason (as defined in the Company’s Change in Control Policy) (each of clauses (x) and (y), a “Qualifying Termination”), provided such Qualifying Termination occurs within the 12 month-period immediately following a Change in Control. Notwithstanding the foregoing, in the event that (i) a Change in Control occurs during Participant’s status as a Service Provider and (ii) the successor corporation does not assume or substitute for the Award, then any Performance Units that become vested upon the consummation of such Change in Control shall be paid in Shares within sixty (60) days following (x) the consummation of such Change in Control to the extent such vested Performance Units are exempt from Section 409A and (y) the earliest Settlement Event to occur following the Change in Control to the extent such vested Performance Units are not exempt from Section 409A].

Settlement Event means, with respect to an Award, the event or date that triggers payment of the Payment Amount in accordance with Plan Section V or the Award Agreement, as applicable.

Examples of Settlement Event in a sentence

Any unvested Restricted Stock Units will automatically vest upon a Settlement Event, subject in each case to the Grantee’s continued Service Relationship until a Settlement Event occurs.
No shares of Stock shall be issued to you prior to the Settlement Event, as set forth in your Notice of Grant.
After the Settlement Event, the Company shall, promptly and within 45 days of such Settlement Event, cause to be issued Stock registered in your name in payment of such vested Restricted Stock Units upon receipt by the Company of any required tax withholding.
Subject to the provisions of Section 4, such vested Performance Units will be paid in Shares [as soon as practicable after vesting, but in each such case no later than the date that is sixty (60) days following the applicable Settlement Event (as defined herein).
The Company shall have the right, within 12 months following the Settlement Event, to purchase from Participant, and Participant shall sell to the Company, all or any portion of the shares of Common Stock delivered to Participant in settlement of any vested Restricted Stock Units, at a price equal to the Fair Market Value thereof, measured as of the date of the applicable Settlement Event (the “Repurchase Price”).
Each Purchase Contract shall obligate the Company to deliver, on the Mandatory Settlement Date, a number of shares of Common Stock (subject to Section 4.04 and Article 5) equal to the Settlement Rate unless, prior to or on the Mandatory Settlement Date, there shall have occurred an Early Settlement or Early Mandatory Settlement Event with respect to such Purchase Contract.
If the Settlement Event triggering a ----------------------- requirement that the Settlement Amount be determined is not a Public Offering, the "EQUITY VALUE" of the Issuer shall be determined in accordance with Section 7(c)and 7(d) hereof.
The Settlement Event for this Award will be the first to occur of (i) the 10-year anniversary of the Effective Date; (ii) the Participant’s Separation from Service; or a (iii) Change in Control.
The Holder shall, within thirty (30) days of the receipt of any such Settlement Event Notice, notify the Issuer whether the Holder elects to exercise its interest in the Right in connection with such Elective Settlement Event (such notice an "ELECTION NOTICE"); provided that failure of the Holder to respond to an Elective Settlement Event Notice shall be deemed to be an election by the Holder not to exercise the Right in respect of such Elective Settlement Event.
Such designations shall be made as promptly as possible after delivery of a Mandatory Settlement Event Notice (in the case of a Mandatory Settlement Event) or an Election Notice (with respect to an Elective Settlement Event) pursuant to Section 6(a) or Section 6(b) hereof, as the case may be.

More Definitions of Settlement Event

Settlement Event means the occurrence of any of the following:

Settlement Event means the occurrence in which the Buyer has entered into a settlement arrangement with a potential generic provider of the Royalty Bearing Products which results in no market entry by such potential generic provider.

Settlement Event means (x) a Mandatory Settlement Event or (y) ---------------- an Elective Settlement Event with respect to which the Holder delivers an Election Notice.

Settlement Event means any of the following: (a) at any time on or prior to the sale of the Notes on the Coupon Reset Date, (i) an Event of Default (as defined in the Indenture) has occurred and is continuing under Sections 501 (3) or (4) under the Indenture (in which case, the occurrence of a Settlement Event is at the Remarketing Dealer's option), (ii) a default, event of default or other similar condition or event (however described) in respect of the Company or any of its subsidiaries (individually or collectively) has occurred under one or more agreements or instruments relating to indebtedness of the Company or any of its subsidiaries in an aggregate amount of not less than $20,000,000 which has resulted in such indebtedness becoming due and payable, under such agreements or instruments, before it would otherwise have been due and payable (in which case, the occurrence of a Settlement Event is at the Remarketing Dealer's option), (iii) the Company or any of its subsidiaries has defaulted in making one or more payments on the due date thereof in an aggregate amount of not less than $20,000,000 under such agreements or instruments (after giving effect to any applicable notice requirement or grace period) (in which case, the occurrence of a Settlement Event is at the Remarketing Dealer's option), (iv) an Event of Default has occurred and is continuing under Sections 501(6) or (7) under the Indenture (in which case, the occurrence of a Settlement Event is automatic), or (v) the Notes shall have been assigned a rating below Investment Grade by any of the Rating Agencies (in which case, the occurrence of the Settlement Event is at the Remarketing Dealer's option), (b) if less than two Dealers have submitted Bids in a timely manner (in which case, the occurrence of a Settlement Event is automatic), or (c) the Company terminates the Coupon Reset Process pursuant to Section 4(g) (in which case, the occurrence of a Settlement Event is automatic), or (d) a Defeasance or a Covenant Defeasance with respect to the Notes occurs pursuant to Section 1302 or 1303, respectively, of the Indenture (in which case, the occurrence of a Settlement Event is automatic), or (e) the Remarketing Dealer fails to make the payment required under Section 4(e)(i) due to the occurrence of a Market Disruption Event (in which case, the occurrence of a Settlement Event is automatic). For purposes of the foregoing, "RATING AGENCY" shall mean Standard & Poor's Corporation and its successors and ▇▇▇▇▇'▇ Inve...