Common use of Company’s Obligation to Pay Clause in Contracts

Company’s Obligation to Pay. Each Restricted Stock Unit has a value equal to the Fair Market Value of a Share on the date that the Restricted Stock Unit is granted. Unless and until the Restricted Stock Units have vested in the manner set forth in paragraphs 3 through 5, the Director will have no right to payment of such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligation. Payment of any vested Restricted Stock Units will be made in whole Shares only.

Appears in 3 contracts

Samples: Restricted Stock Unit Agreement (Polycom Inc), Restricted Stock Unit Agreement (Polycom Inc), Restricted Stock Unit Agreement (Polycom Inc)

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Company’s Obligation to Pay. Each Restricted Stock Unit has a value equal to the Fair Market Value of a Share on the date that the Restricted Stock Unit is grantedof grant. Unless and until the Restricted Stock Units have vested in the manner set forth in paragraphs 3 through 54, 5 or 6, the Director Grantee will have no right to payment of such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligation. Payment of any vested Restricted Stock Units will be made in whole Shares only.

Appears in 3 contracts

Samples: Restricted Stock Unit Agreement (Avanex Corp), Restricted Stock Unit Agreement (Oclaro, Inc.), Restricted Stock Unit Agreement (Avanex Corp)

Company’s Obligation to Pay. Each Restricted Stock Unit has a value equal to the Fair Market Value of a Share share of Common Stock (“Share”) on the date that the Restricted Stock Unit is granted. Unless and until the Restricted Stock Units have vested in the manner set forth in paragraphs 3 through 54, 5 or 6, the Director Executive will have no right to payment of such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligation. Payment of any vested Restricted Stock Units will shall be made in whole Shares only.

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Fei Co), Restricted Stock Unit Agreement (Fei Co)

Company’s Obligation to Pay. Each Restricted Stock Unit has represents a value equal to the Fair Market Value of a Share on the date that the Restricted Stock Unit is grantedit becomes vested. Unless and until the Restricted Stock Units will have vested in the manner set forth in paragraphs Sections 3 through 5and 4 below, the Director Participant will have no right to payment of any such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Units Unit will represent an unsecured obligation. Payment obligation of any vested Restricted Stock Units will be made in whole Shares onlythe Company, payable (if at all) only from the general assets of the Company.

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Align Technology Inc), Restricted Stock Unit Agreement (Align Technology Inc)

Company’s Obligation to Pay. Each Restricted Stock Unit has a value equal to the Fair Market Value of a Share on the date that the Restricted Stock Unit is grantedof grant. Unless and until the Restricted Stock Units have vested in the manner set forth in paragraphs 3 through 5or 4, the Director Employee will have no right to payment of such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligation. Payment of any vested Restricted Stock Units will be made in whole Shares only.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Lsi Logic Corp)

Company’s Obligation to Pay. Each Restricted Stock Unit has represents a value equal to the Fair Market Value of a Share on the date that the Restricted Stock Unit is grantedit becomes vested. Unless and until the Restricted Stock Units will have vested in the manner set forth in paragraphs 3 through 5Sections 2, the Director 4, 5 and 6 Grantee will have no right to payment of any such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Units Unit will represent an unsecured obligation. Payment obligation of any vested Restricted Stock Units will be made in whole Shares onlythe Company, payable (if at all) only from the general assets of the Company.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Maxim Integrated Products Inc)

Company’s Obligation to Pay. Each Restricted Stock Unit has represents a value equal to the Fair Market Value of a Share on the date that the Restricted Stock Unit is grantedit becomes vested. Unless and until the Restricted Stock Units will have vested in the manner set forth in paragraphs 3 through Sections 2, 4 and 5, the Director Grantee will have no right to payment of any such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Units Unit will represent an unsecured obligation. Payment obligation of any vested Restricted Stock Units will be made in whole Shares onlythe Company, payable (if at all) only from the general assets of the Company.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Maxim Integrated Products Inc)

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Company’s Obligation to Pay. Each Restricted Stock Unit has a value equal to the Fair Market Value of a Share on the date that the Restricted Stock Unit is grantedof grant. Unless and until the Restricted Stock Units have vested in the manner set forth in paragraphs 3 through 4 or 5, the Director will Grantee shall have no right to payment of such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Units will shall represent an unsecured obligation. Payment of any vested Restricted Stock Units will be made in whole Shares only.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Actel Corp)

Company’s Obligation to Pay. Each Restricted Stock Unit has a value equal to the Fair Market Value of a Share on the date that the Restricted Stock Unit is grantedGrant Date. Unless and until the Restricted Stock Units have vested in the manner set forth in paragraphs 3 through 4, 5, 6 or 7, the Director Grantee will have no right to payment of such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligation. Payment of any vested Restricted Stock Units will shall be made in whole Shares only.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Avanex Corp)

Company’s Obligation to Pay. Each Restricted Stock Unit has a value equal to the Fair Market Value of a Share on the date that the Restricted Stock Unit is grantedGrant Date. Unless and until the Restricted Stock Units have vested in the manner set forth in paragraphs 3 through 5and 4, the Director Grantee will have no right to payment of such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligationobligation of the Company. Payment of any vested Restricted Stock Units will be made in whole Shares only.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Applied Materials Inc /De)

Company’s Obligation to Pay. Each Restricted Stock Unit has a value equal to the Fair Market Value of a Share on the date that the Restricted Stock Unit is grantedof grant. Unless and until the Restricted Stock Units have vested in the manner set forth in paragraphs 3 through 4 or 5, the Director Grantee will have no right to payment of such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligationobligation of the Company. Payment of any vested Restricted Stock Units will be made in whole Shares onlyShares.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Gartner Inc)

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