Common use of Mechanics of Settlement Clause in Contracts

Mechanics of Settlement. On the Settlement Date, the Company shall electronically issue to the Director one whole share of Company Common Stock for each Restricted Share Unit that is vested, and, upon such issuance, the Director’s rights in respect of such Restricted Share Unit shall be extinguished. In the event that there are any fractional Restricted Share Units credited to the Director’s account as of such Settlement Date, such fractional Restricted Share Units shall be settled in cash on or within 30 days following such Settlement Date. No fractional shares of Company Common Stock shall be issued.

Mechanics of Settlement. On the Settlement Date, the Company shall electronically issue to the Director one whole share of Company Common Stock for each Restricted Share Unit that is vestedthen became vested (except as provided in Section 6(a)), and, upon such issuance, the Director’s rights in respect of such Restricted Share Unit shall be extinguished. In the event that there are any fractional Restricted Share Units credited to the Director’s account as of that became vested on such Settlement Datedate, such fractional Restricted Share Units shall be settled in cash on or within 30 days following such Settlement Daterounded down to the nearest whole Share. No fractional shares of Company Common Stock shall be issued.