Cash Conversion Clause Samples
Cash Conversion. An employee may cash out up to the maximum number of unused hours of PTO that have accrued in the employee’s PTO account during the calendar year, provided that (1) the employee makes an irrevocable election of such cashout during the last calendar quarter of the preceding year, and (2) the employee’s PTO hours are not reduced below forty (40) hours. Such cashout will be paid either per pay period or in one lump sum in the month designated at the time of election, provided that the lump sum payment occurs after the PTO has accrued during the calendar year, and no later than December 31 of that year.
10.5.1 Employees not already receiving a cash payment pursuant to Section 10.5 may apply for a cash payment of a portion of accrued PTO in the case of financial hardship or unforeseeable emergency, as those terms are defined in the federal regulations. The cash payment will be limited to the maximum number of unused hours that have accrued in the employee’s PTO account during the calendar year, provided that the employee’s PTO hours may not be reduced below forty (40) hours.
Cash Conversion. First Federal and the Optionee also agree that any First Federal Options not converted into Associated Options will be converted, as of the Effective Time, into the right to receive cash in an amount (less applicable withholding) equal to the number of shares of First Federal common stock subject to the First Federal Option multiplied by the amount by which the Exchange Ratio times the Associated common stock closing price on the date of the Effective Time exceeds the exercise price for such First Federal common stock under the terms of the First Federal Option.
Cash Conversion. A. Any personal leave not used in the calendar year will be paid out hour for hour in a cash conversion no later than when the check is issued for the second pay period in January of the year following such conversion, up to a maximum of sixteen (16) hours.
Cash Conversion. Notwithstanding anything to the contrary in this Article 14, no Holder will be entitled to receive shares of Common Stock upon conversion (including, for the avoidance of doubt, any Additional Shares) to the extent that the number of shares of Common Stock due upon such conversion would exceed the aggregate number of shares of Common Stock authorized but not issued and shares of Common Stock held in treasury and reserved for issuance under this Indenture. If any delivery of shares of Common Stock owed to any Holder upon conversion may not be made, in whole or in part, as a result of the limitations in this Section 14.12, such Holder shall be entitled to receive cash in lieu of such shares of Common Stock, in an amount equal to the product of (x) the number of shares of Common Stock that the Company is unable to issue pursuant to this Section 14.12 multiplied by (y) the Five-Day VWAP. Any payment of cash in lieu of delivery of shares of Common Stock upon conversion of a Note in accordance with this Section 14.12 shall be deemed to satisfy the Company’s conversion obligations in respect of such Note.
Cash Conversion. If on or before the Closing HNC has elected a Cash Conversion, then, promptly after the Effective Time and receipt of the FTI Certificates, HNC will pay to each tendering holder of an FTI Certificate, by check or wire transfer, the amount of cash to which such holder is entitled pursuant to Section 2.1.2(b) (less the Escrow Funds to be placed in escrow pursuant to Section 2.8 and the Escrow Agreement). In the event of a Cash Conversion, at the Closing HNC will also deliver the Escrow Funds to the Escrow Agent pursuant to the Escrow Agreement.
Cash Conversion. A nurse may cash out up to the maximum number of unused hours of PTO that have accrued in the nurse’s PTO account during the calendar year, provided that (1) the employee makes an irrevocable election of such cashout in October of the preceding year, and (2) the employee’s PTO hours are not reduced below forty (40) hours. Such cashout will be paid out at any time after the PTO to be cashed out has accrued during the calendar year, but in no event later than December 31 of that year.
9.5.1 Nurses not already receiving a cash payment pursuant to Section 9.5 may apply for a cash payment of a portion of accrued PTO in the case of financial hardship or unforeseeable emergency, as those terms are defined in the federal regulations. The cash payment will be limited to the maximum number of unused hours that have accrued in the nurse’s PTO account during the calendar year, provided that the employee’s PTO hours may not be reduced below forty (40) hours.
Cash Conversion. Cash Conversion Privilege and Conversion Reference Rate. 27 Section 4.02. Conversion Procedure. 30 Section 4.03. [Reserved]. 31 Section 4.04. [Reserved]. 31 Section 4.05. [Reserved]. 31 Section 4.06. Adjustment of Conversion Reference Rate. 31 Section 4.07. No Adjustment. 36 Section 4.08. Notice of Adjustment. 37 Section 4.09. Notice of Certain Transactions. 37 Section 4.10. Effect of Reclassification, Consolidation, Merger or Sale on Conversion Privilege. 37 Section 4.11. Trustee’s Disclaimer. 38 Section 4.12. Settlement Upon Cash Conversion. 39 Section 5.01. Payment of Securities. 40 Section 5.02. Reports by Company and the Guarantors. 40 Section 5.03. Compliance Certificates. 41 Section 5.04. Further Instruments and Acts. 41 Section 5.05. Maintenance of Corporate Existence. 41 Section 5.06. Stay, Extension and Usury Laws. 41 Section 5.07. Maintenance of Office or Agency. 42 Section 5.08. Guarantees. 42
Cash Conversion. A nurse may cash out up to the maximum number of unused hours of PTO that have accrued in the nurse’s PTO account during the calendar year, provided that (1) the employee makes an irrevocable election of such cashout in October of the preceding year, and (2) the employee’s PTO hours are not reduced below eightyforty (8040) hours. Such cashout will be paid out in accordance with the dates and deadlines set in PeaceHealth policyat any time after the PTO to be cashed out has accrued during the calendar year, but in no event later than December 31 of that year. REDLINE COPY
9.5.1 Nurses not already receiving a cash payment pursuant to Section 9.5 may apply for a cash payment of a portion of accrued PTO in the case of financial hardship or unforeseeable emergency, as those terms are defined in the federal regulations. The cash payment will be limited to the maximum number of unused hours that have accrued in the nurse’s PTO account during the calendar year, provided that the employee’s PTO hours may not be reduced below forty (40) hours.
Cash Conversion. Buyer agrees to provide Seller an opportunity by no later than September 30, 1997 to dispose of up to 15% of the Exchange Shares (not to exceed $7.5 million in value) for payment in immediately available funds. Buyer may fulfill this obligation by including such shares held by Seller in a secondary offering, by arranging a private placement or by any other method which results in Seller obtaining the then fair market value of such shares after taking into account normal sales commissions and transaction costs.
Cash Conversion. If HNC elects a Cash Conversion, then (i) within five (5) business days after the Effective Time, (in the case of the cash payable to the FTI Shareholders under Section 2.1.2(b)), and (ii) within ten (10) business days after the delivery of the Earn-Out Computation Notice pursuant to Section 2.2.2 (in the case of any cash payable to the FTI Shareholders under Section 2.2.2(b)), HNC will pay to each FTI Shareholder, by check or wire transfer, that portion of the amount of any such cash payable under Section 2.1.2(b) or Section 2.2.2(b), as applicable, into which the shares of FTI Common Stock that were issued and outstanding and owned of record by such FTI Shareholder immediately prior to the Effective Time were converted pursuant to Section 2.1.2(b) or Section 2.2.2(b), as applicable, and each such cash payment to an FTI Shareholder will be rounded to the nearest whole dollar.