Cash Payment Election. The undersigned Holder hereby elects to purchase shares of Common Stock of Aura Systems, Inc. (the "Warrant Stock"), pursuant to the terms of the attached Warrant, and tenders herewith payment of the purchase price for such shares in full.
Cash Payment Election. Notwithstanding anything to the contrary herein, following a Change of Control of the Company, the Company or its successor, at its election, may elect to make any payment required to be made to the Employee pursuant to this Section 5 in cash rather than Shares.
Cash Payment Election. Effective on the Hold Period Expiration Date, the Director may elect to receive either 22% or 37% of the fair market value of the aggregate number of shares of Common Stock to be delivered to the Director on the Hold Period Expiration Date in cash, with the remainder paid in shares of Common Stock. Example: • assume that on the Hold Period Expiration Date, the Director will be entitled to receive 2,000 shares of Common Stock, • assume that the 2,000 shares have an aggregate fair market value of $200,000 (2,000 times an assumed $100.00 FMV per share on the Hold Period Expiration Date), and the Director has made an election to receive up to 22% in cash, • maximum cash is $44,000 ($200,000 times 22%), • on the Hold Period Expiration Date, the Director will receive:
Cash Payment Election. Effective on any Normal Vesting Date (or Trigger Date under Section 6.C.), the Participant (or the Participant’s estate under Section 6.C) may elect to receive up to 50% of the after-tax value of the aggregate number of shares of Common Stock earned on such Normal Vesting Date (or Trigger Date) in cash, with the remainder paid in shares of Common Stock. Example: • following the calculation of Xxxxxx’x performance for the two-year performance period ending December 31, 2024, it is determined that the Participant is entitled to receive 8,000 shares of Common Stock on the Normal Vesting Date occurring in January 2025 (the “2025 Normal Vesting Date”), • assume that the 8,000 shares have an aggregate tax value of $600,000 (8,000 shares times an assumed $75 FMV per share on the 2025 Normal Vesting Date), and the Participant has made a tax withholding election of 39.6%, • the after-tax value of the 8,000 shares of Common Stock awarded on the 2025 Normal Vesting Date is $362,400 ($600,000 times 60.4%), • the Participant may elect to receive up to $181,200 ($362,400 times 50%) in cash on the 2025 Normal Vesting Date.
Cash Payment Election. The undersigned Holder hereby elects to purchase ______ shares of Common Stock of SVI Holdings, Inc. (the "Warrant Stock"), pursuant to the terms of the attached Warrant, and tenders herewith payment of the purchase price for such shares in full.
Cash Payment Election. Notwithstanding the foregoing, in lieu of delivering shares of Company Common Stock as may be required by Section 1.3(c), (d) or (e), and in full satisfaction of Buyer’s obligation (if any) to make such delivery, Buyer may elect to pay to Seller an amount of cash, by wire of transfer of immediately available funds by the delivery deadline set forth in such Section, an amount in cash equal to the product of the applicable Vesting Threshold (i.e., $22.2162 in the case of Section 1.3(c), $27.7717 in the case of Section 1.3(d) and $33.3244 in the case of Section 1.3(e), in each case subject to proportionate adjustment for stock splits, stock dividends, stock combinations and similar events after the Sale Closing Date), multiplied by the number of Tranche Shares that Buyer would otherwise be required to deliver pursuant to such Section. Upon any such payment, any obligation of Buyer to deliver shares pursuant to Section 1.3(b), (c) or (d), as applicable, shall terminate and be of no further force or effect.
Cash Payment Election. Effective on any Normal Vesting Date (or Trigger Date under Section 6.C.), the Participant (or the Participant’s estate under Section 6.C) may elect to receive up to 50% of the after-tax value of the aggregate number of shares of Common Stock earned on such Normal Vesting Date (or Trigger Date) in cash, with the remainder paid in shares of Common Stock. Example: • following the calculation of Valero’s performance against the TSR and ROIC metrics for the two-year performance period ending December 31, 2021, it is determined that the Participant is entitled to receive 8,000 shares of Common Stock on the Normal Vesting Date occurring in January 2022 (the “2022 Normal Vesting Date”), • assume that the 8,000 shares have an aggregate tax value of $600,000 (8,000 shares times an assumed $75 FMV per share on the 2022 Normal Vesting Date), and the Participant has made a tax withholding election of 39.6%, • the after-tax value of the 8,000 shares of Common Stock awarded on the 2022 Normal Vesting Date is $362,400 ($600,000 times 60.4%), • the Participant may elect to receive up to $181,200 ($362,400 times 50%) in cash on the 2022 Normal Vesting Date.
Cash Payment Election. Notwithstanding the foregoing, in lieu of delivering shares of Company Common Stock as may required by Section 1.3(c), (d) or (e), and in full satisfaction of Buyer’s obligation (if any) to make such delivery, Buyer may elect to pay to Seller an amount of cash, by wire of transfer of immediately available funds by the delivery deadline set forth in such Section, an amount in cash equal to the product of the applicable threshold Common Stock Market Value (i.e., $0.6356 in the case of Section 1.3(c), $0.7945 in the case of Section 1.3(d) and $0.9534 in the case of Section 1.3(e), in each case subject to proportionate adjustment for stock splits, stock dividends, stock combinations (including the 5/ 98,333 shares giving effect to the Reverse Split as if it occurred on the Effective Date. 6/ $30.5088 giving effect to the Reverse Split as if it occurred on the Effective Date. Reverse Split) and similar events after the Effective Date), multiplied by the number of shares of Company Common Stock that Buyer would otherwise be required to deliver pursuant to such Section. Upon any such payment, any obligation of Buyer to deliver shares pursuant to Section 1.3(b), (c) or (d), as applicable, shall terminate and be of no further force or effect.
Cash Payment Election. Notwithstanding the foregoing, in accordance with Section 8.2(e) of the Merger Agreement, APSLP, on its behalf or on behalf of any Indemnifying APSLP Partner that is obligated to make an indemnification payment to Parent pursuant to Section 8.2(a) or Section 8.2(h) of the Merger Agreement, may, in its sole discretion, provide written notice to the Escrow Agent (with a concurrent copy to Parent) of its election to pay any portion of such payment amount in cash (a “Cash Payment Election”) in an amount equal to such amount of the Indemnifiable Loss that is not paid in Escrow Shares, in which event, the number of Escrow Shares to be delivered to Parent pursuant to this Section 4 shall be reduced in accordance with the methodology set forth in Section 8.2(e) of the Merger Agreement, and such number of Escrow Shares not delivered to Parent as a result of such reduction shall instead be delivered to APSLP pursuant to a written notice delivered to the Escrow Agent by APSLP (with a concurrent copy to Parent).
Cash Payment Election. Effective on any Normal Vesting Date (or Trigger Date under Section 6.C), the Participant (or the Participant’s estate under Section 6.C) may elect to receive up to 50% of the after-tax value of the aggregate number of shares of Common Stock earned on such Normal Vesting Date (or Trigger Date) in cash, with the remainder paid in shares of Common Stock. Example: • following the calculation of Valero’s performance against the Target Group for the two-year performance period ending December 31, 2021, it is determined that the Participant is entitled to receive 4,000 shares of Common Stock on the Normal Vesting Date occurring in January 2022 (the “2022 Normal Vesting Date”), • the 4,000 shares have an aggregate tax value of $300,000 (4,000 shares times an assumed $75 FMV per share on the 2022 Normal Vesting Date), and the Participant has made a tax withholding election of 39.6%, • the after-tax value of the 4,000 shares of Common Stock awarded on the 2022 Normal Vesting Date is $181,200 ($300,000 times 60.4%), • the Participant may elect to receive up to $90,600 ($181,200 times 50%) in cash on the 2022 Normal Vesting Date.
