Cash in Lieu of Shares Clause Samples
Cash in Lieu of Shares. In lieu of shares of Common Stock issuable pursuant to Paragraphs 12(b) and 12(c), as the case may be, the Committee may, in its sole discretion, distribute to you an amount, in cash, equal to the value of such shares determined in accordance with Plan provisions. Such amount shall be paid at the time specified in Paragraphs 12(b) and 12(c), as the case may be.
Cash in Lieu of Shares. (a) During the month of May 1998 Employer shall have the right to notify Employee that Employer has elected to pay Employee cash on July 1, 1998 for all shares that remained subject to the risk of forfeiture, as provided in section 3, as of June 29,
Cash in Lieu of Shares. The Company shall have the right to elect, by giving written notice to such effect (a “Redemption Notice”) to the Chairman (or his legal representative) within twenty (20) days following the Date of Termination to redeem any shares of Restricted Stock vesting specifically as a result of the termination of the Chairman pursuant to this Section 8 (such shares of Restricted Stock that the Company has elected to redeem are hereinafter referred to as the "Redeemed Shares") and by, within ten (10) days after the date the Redemption Notice is so given to the Chairman (or his legal representative), making payment to the Chairman (or his legal representative) in the amount equal to the value of the Redeemed Shares as determined below, and upon receipt of such payment, the Chairman shall transfer and return to the Company the Redeemed Shares (including the certificates, if any, representing the Redeemed Shares). For purposes of the foregoing, the Redeemed Shares shall be valued at the average closing price of the Company's common stock on the principal stock exchanges on which such common stock is then listed and traded during the ten (10) trading days prior to the Date of Termination.
Cash in Lieu of Shares. In connection with any conversion pursuant to Section 3, the Company may, at its option, issue the requisite amount of cash to the Holder in lieu of shares of Common Stock with respect to, but only with respect to, any accrued and unpaid Interest and/or other unpaid amounts (other than Principal) due under this Note. For the avoidance of doubt, this Section 3(f)(iv) shall not apply to any Principal being converted pursuant to Section 3.