APPLICATION OF TIME VESTING. Whenever Un-Time-Vested Securities time vest pursuant to the terms of this Section 2, the Un-Time-Vested Securities that are not Performance Vesting Securities, on the one hand, and the Un-Time-Vested Securities that are Performance Vesting Securities, on the other hand, will each time vest on a pro rata basis based on the number of each such type of securities then outstanding. Of such Un-Time-Vested Securities constituting Performance Vesting Securities which are to vest, the Un-Time-Vested Securities that are Performance-Vested Securities shall be time vested prior to any Un-Time-Vested Securities that are Un-Performance-Vested Securities being time vested.
Appears in 5 contracts
Samples: Executive Securities Agreement (Comple Tel LLC), Executive Securities Agreement (Comple Tel LLC), Executive Securities Agreement (Comple Tel LLC)
