Examples of Election Right in a sentence
The exercise of an Election Right must be in writing, specify the Option or Options and the number of Shares as to which the election is being exercised, and be delivered to the Secretary of the Company either in person or by depositing said notice and payment in the United States mail, postage pre-paid and addressed to such officer at the Company's home office on or before the 60th day following the Change in Control Date.
Subject to any applicable Purchase Restrictions, to the extent a Nonemployee Director has exercised the Stock Election Right in accordance with this Article XI, such Nonemployee Director will receive shares of the applicable series of Common Stock in payment of the Director Compensation payable to such Nonemployee Director with respect to the applicable calendar quarter on the last day of such calendar quarter (or as soon as practicable thereafter).
Subject to the deemed election provisions of Section 11.3, a Nonemployee Director who wishes to exercise the Stock Election Right with respect to a particular calendar quarter must provide an Election Notice by the Election Deadline applicable to such calendar quarter.
Subject to the provisions of this Article XI, each Nonemployee Director shall have a Stock Election Right with respect to Director Compensation payable for the calendar quarter ended December 31, 2005 and each calendar quarter thereafter.
A Nonemployee Director who has delivered a Rescission Notice may exercise a Stock Election Right for subsequent calendar quarters by the timely delivery of an Election Notice.
Neither the grant of Awards pursuant to the Plan nor the availability or exercise of the Stock Election Right shall affect in any way the right or power of the Company to make reclassifications, reorganizations or other changes of or to its capital or business structure or to merge, consolidate, liquidate, sell or otherwise dispose of all or any part of its business or assets.
Once the Election Deadline applicable to a particular calendar quarter has passed, no Share Election Right may be exercised by any Nonemployee Director with respect to such calendar quarter, unless the Board determines, in its sole discretion, that such change is occasioned by an extraordinary or unanticipated event.
Subject to the deemed election provisions of Section 12.3, a Non-Employee Director who wishes to exercise the Share Election Right with respect to a particular calendar quarter must provide an Election Notice by the Election Deadline applicable to such calendar quarter.
A Nonemployee Director who has delivered a Rescission Notice may exercise a Share Election Right for subsequent calendar quarters by the timely delivery of an Election Notice.
Furthermore, the Plan provides that all accrued and past due dividends on Series D Preferred Stock will be paid on the Effective Date, at the election of the Company, in common stock or cash, thereby curing the default and eliminating the Election Right.