Cash Payment Option Sample Clauses
Cash Payment Option. Effective July 1, 1981, upon retirement, a Faculty Member shall receive cash payment for accumulated unused sick leave in accordance with Chapter 70A.23 of the Code of Iowa (1993) as amended by Chapter 2.42 of the Iowa Acts (1979) as in effect as of February 27, 1981, payable during the pay period preceding the Faculty Member's retirement date.
Cash Payment Option. If at any time following the Issue Date, the Conversion Price set forth in any Conversion Notice is less than $3.00 per share (the “Reference Floor Price”), at the option of the Borrower, the Borrower may choose to pay within three (3) business days to the Holder the applicable Conversion Amount in cash rather than issue shares of Common Stock; provided however that in no event shall the Borrower issue shares of Common Stock at less than the Reference Floor Price if such issuance would result in Borrower issuing more than 20% of its common stock outstanding as of the date hereof.
Cash Payment Option. Notwithstanding Section 3.2 above, Borrower may, at its option, elect to pay any Conversion Amount in cash in lieu of delivering Conversion Shares. if Borrower elects to pay a Conversion Amount in cash, it must (i) notify Lender of its intention to pay the Conversion Amount in cash within 24 hours of Xxxxxx's delivery of the Conversion Notice, and (ii) deliver the cash via wire transfer of immediately available funds within three (3) Trading Days of Lender's delivery of the Conversion Notice to Borrower: If Borrower fails to deliver notice pursuant to the immediately foregoing clause (i) or fails to make the wire transfer when due pursuant to the immediately foregoing clause (ii), then Borrower shall be deemed to have waived its right to pay such Conversion Amount in cash.
Cash Payment Option. Available eligible amounts not used for the purchase of benefits under this Plan may be considered a cash benefit under the Plan payable to the Participant as taxable income to the extent indicated in Item E of the Adoption Agreement and as specified in the Participant’s MOU or Compensation Summary.
Cash Payment Option. An employee may elect to receive cash payment up to a maximum of forty (40) hours of their accumulated vacation balance effective for FY 2023/2024 and FY 2024/2025 only, and an employee may elect to receive a cash payment for a maximum of forty (40) hours of their unused accumulated vacation balance after the use of a scheduled vacation of forty (40) hours or more in that same or prior fiscal year. To utilize this option, employees must maintain a balance of (forty) 40 accrued vacation hours after the cash payment. When in effect, this option may be exercised once per fiscal year. Employees may elect this option by December 31 of each year for the cash out the following calendar year. The cash out election is irrevocable, and the City will follow IRS regulations regarding cash payment of leave.
Cash Payment Option. (i) The Cash Payment Option will be paid in an amount in Brazilian Reais (R$) equal to EUR 353.28, converted into U.S. dollars by using the average of the Benchmark fixings (6 pips from the EUR/USD Benchmark Mid Rate) at the following fixing times: 11:00 am, 12:00 pm or 1:15 pm, London time, on the first business day following the Auction Date, as disclosed on Bloomberg page FXBE1 5 minutes after the respective fixing time. Such USD amount shall be further converted into Brazilian Reais (R$) at the USD/BRL exchange ratio furnished by the Brazilian Central Bank ("BACEN"), through the SISBACEN - Brazilian Central Bank Information System, Transaction PTAX800, Currency Code 220, Option 5, closing purchase rate, of the first business day following the Auction Date, for each 1,000 Common Shares issued by AmBev sold by such shareholders in the Auction (each a "Cash Option Electing Shareholder"). The conversion of the Euro amount into U.S. dollars and thereafter the conversion of the resulting U.S. dollar amount into Brazilian Reais is being carried out because of the low liquidity of the foreign exchange market for Euros in Brazil.
(ii) Payment of the Cash Payment Option will be made by InBev's Brazilian subsidiary, InBev Holding Brasil S.A. ("InBev Brasil"), a company with its registered office in the City of Sao Paulo, State of Sao Paulo, at Av. Brigadeiro Faria Lima, no. 3,729, 7th floor, enrolled at the CNPJ/XX xxxxx xo. 97.363.642/0001-97.
Cash Payment Option. In lieu of health insurance coverage, employees who have completed six (6) months’ service with the Employer may elect to receive a cash payment of One Hundred Eighty Dollars, $180.00 Family or One Hundred sixty-one Dollars, $161.00 Single/ Two-Person per Pay Period.
Cash Payment Option. 4.7.1 Notwithstanding anything in this ARTICLE 4, and subject to Applicable Securities Law and Section 5.1.5, upon the conversion of Debentures by a Holder thereof in accordance with the provisions and conditions of Article 4 of the Indenture, in lieu of delivering Common Shares, the Company may elect to pay the Holder cash at the option of the Company (the “Cash Conversion Option”). If the Company elects the Cash Conversion Option:
(i) it will notify the Indenture Trustee in accordance with Section 14.3 of the Indenture:
(A) for conversions that may occur on or after the 12th Trading Day prior to the Maturity Date, by notice to all registered holders of Debentures delivered prior to such Trading Day (which will apply to all such conversions of Debentures that may occur); and
(B) in all other cases, on the Business Day immediately following the related Conversion Date.
(ii) the Company shall be obligated to pay to the converting Holder of Debentures an amount equal to, for each $1,000 principal amount of Debentures, the sum of the Daily Conversion Values for each of the 10 consecutive Trading Days during the related Observation Period including for any fractional shares, and shall deliver instructions for payment to the Holders to the Indenture Trustee and pay cash in such amount to the Indenture Trustee, on behalf of the converting Holder of the Debentures, no later than the second Business Day following the last day of the related Observation Period; provided however, the following shall be paid no later than prior to the close of business on the fifth Business Day following the Conversion Date to the Indenture Trustee by the Company: (a) a wire transfer of funds in the amount of the value of a fractional Common Share in accordance with section 4.3, if any; and (b) a wire transfer of funds in the amount of the accrued and unpaid interest on the Debentures which the Holder has elected to convert;
(iii) such election by the Company of the Cash Conversion Option in respect of the converting Holder of Debentures shall be irrevocable; and
(iv) if the notice of the Company’s election of the Cash Conversion Option has not been delivered in accordance with Section 4.7.1(i), the Company will no longer have the right to elect the Cash Conversion Option and the Company will satisfy its obligations under this ARTICLE 4 through the delivery of Common Shares in accordance with this ARTICLE 4.
4.7.2 Notwithstanding any election by the Company to invoke the Cash Convers...
Cash Payment Option. (i) Any Securityholder may, in lieu of having his or its Aggregate Indemnity Escrow Shares surrendered pursuant to this Section 3, elect to pay the aggregate Deemed Value of such Aggregate Indemnity Escrow Shares in cash to the Purchaser (the "Cash Payment Option"). To exercise his or its Cash Payment Option, a Securityholder must provide, within five (5) days of either (x) the Securityholders' Representative's receipt of a Draw Down Request or (y) in the event the Securityholders' Representative timely delivers an Objection, the resolution of such dispute by either the mutual agreement of the Purchaser and Securityholders' Representative or a final decision of a court of competent jurisdiction directing the release to the Purchaser of the Aggregate Indemnity Escrow Shares that are the subject of the Objection:
(1) to the Purchaser, cash payment in full or partial satisfaction of such Securityholder's Optional Cash Payment (as defined below); and
(2) to the Escrow Agent, proof of such payment (with a copy to the Purchaser) along with written notice of such Securityholder's election to exercise his or its Cash Payment Option and specifying the portion of such Securityholder's obligations being paid in cash and the portion to be satisfied by release of his Pro Rata Share of the Aggregate Indemnity Escrow Shares.
(ii) With respect to each Securityholder that has effectively exercised his or its Cash Payment Option, the Escrow Agent shall, in lieu of payment to the Purchaser of the Aggregate Indemnity Escrow Shares as otherwise provided herein, promptly release to such Securityholder Aggregate Indemnity Escrow Shares with an aggregate Deemed Value equal to the amount that would have been calculated with respect to such Securityholder with respect to such Draw Down Request pursuant to Section 1(c) had such Securityholder not exercised its Cash Payment Option (such amount, the "Optional Cash Payment") and, in the case of a partial Cash Payment Option, shall release to Purchaser the balance of Aggregate Indemnity Escrow Shares necessary to satisfy the Draw Down Request.
Cash Payment Option. For a period commencing as of the date hereof and ending 120 days from the date hereof, Cyrk shall have the option to pay Simon $1.5 million in immediately available funds in exchange for Simon's agreement to apply Simon's $