Financial Performance of the Corporation Sample Clauses

Financial Performance of the Corporation. The condition to vesting based on the Corporation’s financial performance shall be satisfied on the date of the report of the Corporation’s independent auditors on the consolidated financial statements of the Corporation for the fiscal year ended December 31, 2015, as to the percentage of Units subject to this Grant specified below if, but only if, the Corporation’s Earnings Before Interest, Income Taxes, Depreciation, and Amortization (“EBITDA”), as derived from such consolidated financial statements, equals or exceeds the corresponding Threshold EBITDA specified below: Percentage of Units As To Which Condition Threshold On Vesting is Satisfied EBITDA 0 Less than $62.5M 50% $62.5M but less than $65M 60% $65M but less than $67.5M 65% $67.5M but less than $70M 75% $70M but less than $72.5M 80% $72.5M but less than $75M 90% $75M but less than $77.5M 100% $77.5M or more For purposes of this Grant, the term “Earnings Before Interest, Income Taxes, Depreciation, and Amortization” for the fiscal year ending December 31, 2015 (the “Fiscal Year”) shall mean the Corporation’s net earnings before interest, income taxes, depreciation and amortization are subtracted, provided however, that for purposes of determining EBITDA, the Corporation’s expenses relating to its 2015 Cash Bonus Plan and 2015 Equity Incentive Plan shall be disregarded, and provided further that adjustments to EBITDA may be made in the discretion of the Committee for any non-recurring or extraordinary items. EBITDA will be calculated to closest whole dollar, but there shall be no proration of EBITDA between EBITDA levels. Vested Units will be rounded to the next highest whole Unit.
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Financial Performance of the Corporation. The condition to vesting based on the Corporation’s financial performance shall be satisfied on the date of the report of the Corporation’s independent auditors on the consolidated financial statements of the Corporation for the fiscal year ended December 31, ____, as to the percentage of Units subject to this Grant specified below if, but only if, the Corporation’s Return on Capital Employed (“ROCE”), as determined by such consolidated financial statements, equals or exceeds the corresponding Threshold ROCE specified below: Percentage of Units As To Which Condition Threshold On Vesting is Satisfied ROCE 0 __% or less 100% __% or more For purposes of this Grant, the term “Return on Capital Employed” for the fiscal year ending December 31, ___ (the “Fiscal Year”) shall mean that percentage determined by dividing (a) the Corporation’s net earnings before interest and taxes for the Fiscal Year as determined by the Committee in its discretion, by (b) the average monthly amount (determined as of the last day of each month) of the sum of (1) the excess of the Corporation’s current assets over its current liabilities, and (2) the Corporation’s net plant, property and equipment; provided, however, that such amounts shall be determined in accordance with the meaning of such terms under generally accepted accounting principles as applied by the Corporation in its audited financial statements for the Fiscal Year. The vesting percentage shall be determined on a pro rata basis as ROCE increases from the minimum Threshold ROCE (__%+) to the maximum Threshold ROCE (__%), with vesting percentages rounded to the next highest whole percent. The ROCE will be calculated to closest tenth of a percent. Vested Units will be rounded to the next highest whole Unit.
Sample 1
Financial Performance of the Corporation. The condition to vesting based on the Corporation’s financial performance shall be satisfied on the third anniversary of the Date of Grant, as to a percentage of Units subject to this Grant, based on the Corporation’s Total Shareholder Return (“TSR”) between the Date of Grant and the third anniversary of the Date of Grant (the “Vesting Period”). TSR shall be calculated based on target and maximum amounts as set forth in the following table: Percentage of Units As To Which Condition On Vesting is Satisfied Threshold TSR 0 TSR is less than or equal to 0% 50% TSR is at target (i.e., 7%/year return, or 22.5% return over three-year performance period) 100% TSR is at or above maximum (i.e., 14%/year return, or 48.2% return over three year period) For purposes of this Grant, the “Total Shareholder Return” shall be determined by dividing (1) the sum of (a) the average closing Share price over the last 60 trading days of the period immediately prior to the end of the Vesting Period (the “Maturity Date FMV”), and (b) cash dividends paid during the Vesting Period; by (2) the average closing Share price over the last 60 trading days preceding the Date of Grant (the “Grant Date FMV”). The average closing Share price shall be determined by reference to the closing price of a Share on the New York Stock Exchange if the Company’s Common Stock is then listed for trading on that exchange; otherwise, the closing price of a Share shall be as reported on the principal exchange (or, if applicable, over-the-counter stock market) on which the Company’s Common Stock is then listed for trading. The formula for calculating TSR shall be as follows: (Maturity Date FMV + Cash Dividends Paid) – 1 = TSR Grant Date FMV TSR will be calculated to closest tenth of a percent. Vested Units will be rounded to the next highest whole Unit. By way of example, if the Grant Date FMV was $9.00, and the Maturity Date FMV was $12.00, and a total of $0.36 per share of dividends were paid during the Vesting Period, the calculation of TSR and the vesting of Units would be as follows: $12.00 + $0.36 – 1 = 37.3% TSR 37.3% (actual) = 77.4% of maximum payout $9.00 48.2% (maximum)
Sample 1
Financial Performance of the Corporation. The condition to vesting based on the Corporation's financial performance shall be satisfied on the date of the report of the Corporation's independent auditors on the consolidated financial statements of the Corporation for the fiscal year ended December 31, ______, as to the percentage of Units subject to this Grant specified below if, but only if, the Corporation's Return on Capital Employed ("ROCE"), as determined by such consolidated financial statements, equals or exceeds the corresponding Threshold ROCE specified below: Percentage of Units As To Which Condition Threshold On Vesting is Satisfied ROCE ______ ____
Sample 1

Related to Financial Performance of the Corporation

  • Performance of the Company The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by this Agreement and the Registration Rights Agreement to be performed, satisfied or complied with by the Company at or prior to the Commencement. The Company shall deliver to the Investor on the Commencement Date the compliance certificate substantially in the form attached hereto as Exhibit C (the “Compliance Certificate”).

  • Financial Performance Covenants Notwithstanding anything to the contrary contained in Section 7.01, in the event that Holdings and the Borrower fail to comply with the requirements of any Financial Performance Covenant, until the expiration of the 10th day subsequent to the date the certificate calculating such Financial Performance Covenant is required to be delivered pursuant to Section 5.04(c), Holdings shall have the right to issue Permitted Cure Securities for cash or otherwise receive cash contributions to the capital of Holdings, and, in each case, to contribute any such cash to the capital of Borrower (collectively, the "Cure Right"), and upon the receipt by Borrower of such cash (the "Cure Amount") pursuant to the exercise by Holdings of such Cure Right such Financial Performance Covenant shall be recalculated giving effect to the following pro forma adjustments:

  • Financial Performance Covenant Upon the occurrence and during the continuance of a Covenant Trigger Event, the Borrower will maintain a Fixed Charge Coverage Ratio of not less than 1.0 to 1.0 measured for the most recent period of four consecutive fiscal quarters for which Required Financial Statements are available (or were required to be furnished) at the time of occurrence of such Covenant Trigger Event, and each subsequent four fiscal quarter period ending during the continuance of such Covenant Trigger Event.

  • Historical Performance Information To the extent agreed upon by the parties, the Sub-Advisor will provide the Trust with historical performance information on similarly managed investment companies or for other accounts to be included in the Prospectus or for any other uses permitted by applicable law.

  • Performance of Daily Accounting Services In addition to the maintenance of the books and records specified above, Ultimus shall perform the following accounting services daily for each Portfolio:

  • Fund Accounting Services GFS may from time to time adopt procedures, or modify its procedures, to implement the terms of this Section. With respect to each Fund, GFS shall provide the following services subject to, and in compliance with, the objectives, policies and limitations set forth in the Trust’s Registration Statement, the Trust’s Agreement and Declaration of Trust, Bylaws, applicable laws and regulations, and resolutions and policies implemented by the Trust’s Board of Trustees (the “Board”):

  • Interim Operations of the Company The Company covenants and agrees as to itself and its Subsidiaries that during the period from the date of this Agreement until the Effective Time or the date, if any, on which this Agreement is earlier terminated pursuant to Section 7.1, except as (w) disclosed in Section 5.1 of the Company Disclosure Letter, (x) expressly contemplated or permitted by this Agreement, (y) required by applicable Law, or (z) agreed to in writing by Parent, after the date of this Agreement and prior to the Effective Time:

  • VALUATION SUPPORT AND COMPUTATION ACCOUNTING SERVICES BNY Mellon shall provide the following valuation support and computation accounting services for each Fund:  Journalize investment, capital share and income and expense activities;  Maintain individual ledgers for investment securities;  Maintain historical tax lots for each security;  Corporate action processing as more fully set forth in the SLDs;  Reconcile cash and investment balances of each Fund with the Fund’s custodian or other counterparties as applicable;  Provide a Fund’s investment adviser, as applicable, with the cash balance available for investment purposes at start-of-day and upon request, as agreed by the parties;  Calculate capital gains and losses;  Calculate daily distribution rate per share;  Determine net income;  Obtain security market quotes and currency exchange rates from pricing services approved by a Fund’s investment adviser, or if such quotes are unavailable, then obtain such prices from the Fund’s investment adviser, and in either case, calculate the market value of each Fund’s investments in accordance with the Fund's valuation policies or guidelines; provided, however, that BNY Mellon shall not under any circumstances be under a duty to independently price or value any of the Fund's investments, including securities lending related cash collateral investments (with the exception of the services provided hereunder to Funds utilized for such cash collateral investments), itself or to confirm or validate any information or valuation provided by the investment adviser or any other pricing source, nor shall BNY Mellon have any liability relating to inaccuracies or otherwise with respect to such information or valuations; notwithstanding the foregoing, BNY Mellon shall follow the established procedures and controls to identify exceptions, tolerance breaches, etc. and to research and resolve or escalate any pricing inaccuracies;  Application of the established automated price validation rules against prices received from third party vendors and review of exceptions as identified;  Calculate Net Asset Value in the manner specified in the Fund’s Offering Materials (which, for the service described herein, shall include the Fund’s Net Asset Value error policy);  Calculate Accumulated Unit Values (“AUV”) for select funds as mutually agreed upon between the parties;  Transmit or make available a copy of the daily portfolio valuation to a Fund’s investment adviser;  Calculate yields, portfolio dollar-weighted average maturity and dollar-weighted average life as applicable; and  Calculate portfolio turnover rate for inclusion in the annual and semi-annual shareholder reports.  For money market funds, obtain security market quotes and calculate the market-value Net Asset Value in accordance with the Fund’s valuation policies and guidelines at such times and frequencies as required by regulation and/or instruction from TRP.

  • Performance of Obligations of the Company The Company shall have performed in all material respects all obligations required to be performed by it under this Agreement at or prior to the Closing Date, and Parent shall have received a certificate signed on behalf of the Company by the chief executive officer and the chief financial officer of the Company to such effect.

  • Bank Provides Diverse Financial Services and May Generate Profits as a Result Customer acknowledges that Bank or its Affiliates may have a material interest in transactions entered into by Customer with respect to the Account or that circumstances are such that Bank may have a potential conflict of duty or interest. For example, Bank or its Affiliates may act as a market maker in the Financial Assets to which Instructions relate, provide brokerage services to other customers, act as financial adviser to the issuer of such Financial Assets, act in the same transaction as agent for more than one customer, have a material interest in the issue of the Financial Assets, or earn profits from any of these activities. Customer acknowledges that Bank or its Affiliates may be in possession of information tending to show that the Instructions received may not be in the best interests of Customer. Bank is not under any duty to disclose any such information.

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