Accrual Credit. The extra days accrued due to service of over five (5) years are credited to each employee's account on his/her anniversary date. Employees are notified as they reach the maximum accrual limit.
Accrual Credit. The extra days accrued due to service of over five
Accrual Credit. Upon the effectiveness of this Agreement and in accordance with the Recapitalization Agreement, each Holder of Warrants shall be credited an amount per share of Common Stock underlying a Warrant equal to all of the Exercise Price Accrual and LV Accrual not otherwise distributed to such Holder pursuant to the Series D Exchange or the Exercise Price Reduction specified in Section 8(a) (the “Accrual Credit”). The Accrual Credit shall remain credited to the account of such Holder until: (i) used to fund the payment of the Exercise Price of all or a portion of such Holder’s Warrants in accordance with Section 4(d), (ii) transferred in accordance with the terms of this Agreement or (iii) the date that such Holder’s Warrants are no longer exercisable in accordance with the terms of this Agreement. Notwithstanding the foregoing, a Holder’s Accrual Credit may only be used to fund the payment of the Exercise Price of such Holder’s Warrants and in the event that such Holder’s Warrants are permanently no longer exercisable in accordance with the terms of this Agreement, any remaining Accrual Credit credited to the account of such Holder shall be deemed to be forfeited to the Company. For the avoidance of doubt and subject to the penultimate sentence of this Section 8(j), the Accrual Credit per share of Common Stock underlying a Warrant for each applicable issuance of Units (calculated in accordance with the Series D Certificate and based on the applicable Issuance Date) shall be as follows: Rights Offering Units March 3, 2010 $ 4.8486 Convertible Note Units March 3, 2010 $ 4.8486 Standby Purchase Units April 19, 2010 $ 4.8810 April Guarantee Fee Units April 20, 2010 $ 4.8817 July Guaranty Fee Units July 9, 2010 $ 4.9368 The foregoing notwithstanding, upon the effectiveness of this Agreement and in accordance with the Recapitalization Agreement, each Warrant held by Pegasus or LSGC Holdings LLC at the time of the effectiveness of this Agreement shall have an Accrual Credit equal to $4.86243.
