Minimum Share Ownership Requirement Sample Clauses

Minimum Share Ownership Requirement. (a) If the Director owns fewer than 4,000 shares of Common Stock as of the date of this Agreement, the Director must retain ownership of at least 600 of the Awarded Shares, once vested, until the date that the Director owns at least 4,000 shares of Common Stock. Following the date that the Director owns at least 4,000 shares of Common Stock, the Director shall not be required to retain any of the Awarded Shares, once vested, so long as the Director at all times thereafter continues to own at least 4,000 shares of Common Stock during the period that he or she is a director of Calavo. Awarded Shares that are owned by the Director shall be counted toward the satisfaction of the share ownership requirement that is described in this Section 5(a) and in Section 5(b) below, but shares of Common Stock that may be acquired by the Director upon the exercise of a stock option shall not be treated as being owned by the Director for purposes of the satisfaction of the share ownership requirement until the stock option is exercised. (b) If the Director owns at least 4,000 shares of Common Stock as of the date of this Agreement, the Director shall not be required to retain any of the Awarded Shares, once vested, but the Director must at all times continue to own at least 4,000 shares of Common Stock during the period that he or she is a director of Calavo. (c) Upon the request of Calavo, the Director shall provide evidence to Calavo of the number of shares of Common Stock that he or she owns. (d) The share ownership requirement described in this Section 5 shall terminate on the date that the Director ceases for any reason to be a director of Calavo.
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Minimum Share Ownership Requirement. (a) The Officer must retain 60% of all vested shares, as they vest, until he/she owns at least 4,000 shares. Following the date that the Officer owns at least 4,000 shares of Common Stock, the Officer shall not be required to retain any of the Awarded Shares, once vested, so long as the Officer at all times thereafter continues to own at least 4,000 shares of Common Stock during the period that he or she is an Officer of Calavo. Awarded Shares that are owned by the Officer shall be counted toward the satisfaction of the share ownership requirement that is described in this Section 5(a) and in Section 5(b) below, but shares of Common Stock that may be acquired by the Officer upon the exercise of a stock option shall not be treated as being owned by the Officer for purposes of the satisfaction of the share ownership requirement until the stock option is exercised. (b) If the Officer owns at least 4,000 shares of Common Stock as of the date of this Agreement, the Officer shall not be required to retain any of the Awarded Shares, once vested, but the Officer must at all times continue to own at least 4,000 shares of Common Stock during the period that he or she is an Officer of Calavo. (c) Upon the request of Calavo, the Officer shall provide evidence to Calavo of the number of shares of Common Stock that he or she owns. (d) The share ownership requirement described in this Section 5 shall terminate on the date that the Officer ceases for any reason to be an Officer of Calavo.

Related to Minimum Share Ownership Requirement

  • MEMBERSHIP REQUIREMENT 1. All employees covered by this Collective Agreement shall, as a condition of employment, become and remain members of the British Columbia Teachers’ Federation and the local(s) in the district(s) in which they are employed, subject to Article A.3.

  • Membership Requirements 5. Exclusions from the Bargaining Unit

  • UNION MEMBERSHIP REQUIREMENT 4.01 Within one (1) week of the signing of this Agreement, all employees of the Employer shall, as a condition of employment, become and remain members in good standing of the Union, according to the Constitution and By-Laws of the Union. As a condition of employment, all new employees shall become and remain members in good standing of the Union within six (6) months of employment.

  • Minimum Purchase Requirements Distributor shall make the minimum annual purchase of Products established in Exhibit B, unless the Agreement has become coexclusive. In the period within the fixed term and extension, if applicable, of the Agreement under Section 10(a) subsequent to [ * ], the parties shall meet in San Francisco at least [ * ] prior to the beginning of each of respective year to discuss market conditions and appropriate minimum purchases for such year. In the event that the parties fail to agree on an appropriate minimum any year subsequent to [ * ], the minimum annual purchase requirement for such year shall be calculated increasing or decreasing (as the case may be) the minimum purchase requirement for the preceding year in proportion to the increase or decrease in the [ * ] (based on data from mutually acceptable data provider) of the applicable product in the Territory. In the event Supplier is unable to deliver Products ordered by Distributor in an amount consistent with the most recent forecast, then the minimum annual purchase requirement shall be reduced by the quantity of Products that Supplier is unable to deliver when requested. In the event Distributor fails in any year (a “Shortfall Year”) to make the annual minimum purchase of Agreement Products required by Exhibit B, Supplier shall have the right to give Distributor written notice of default, and if such failure to make the minimum purchase is not cured (through the purchase of an amount of Agreement Product equal to the entire shortfall in the Shortfall Year, which amount shall not be counted towards any minimum purchase requirements for the year of purchase) within [ * ] of receipt of the notice, then Supplier shall have the right, in Supplier’s sole discretion and as Supplier’s sole remedy for Distributor’s failure to meet the minimum purchase requirements hereunder, either to convert the appointment of Distributor from exclusive to non-exclusive or to terminate this Agreement. In the event of either conversion to non-exclusive or termination of this Agreement pursuant to this Section 3(e), the Supplier shall pay Distributor a conversion fee equal to [ * ], and Distributor shall transfer all Regulatory Approvals relating to BMS or DES in the Territory to Supplier.

  • Stock Ownership Guidelines Executive will comply with all stock ownership and stock retention guidelines or policies established by the Board and the Committee, as in effect from time to time.

  • W-9 Requirement Alongside a signed copy of this Agreement, Grantee will provide Florida Housing with a properly completed Internal Revenue Service (“IRS”) Form W-9. The purpose of the W-9 form is to document the SS# or FEIN# per the IRS. Note: W-9s submitted for any other entity name other than the Grantee’s will not be accepted.

  • Minimum Balance Requirements To be a member and maintain Accounts with Us You must purchase 1 share in the Credit Union. The par value of a share in this Credit Union is $5.00. If the balance in Your primary share Account drops below 1 share ($5.00), at any time, We may, at Our option, close Your Account. Nonsufficient Funds Returns. Any share draft or pre-authorized transfer, or transaction made through the use of a debit card, or other electronic means, as is applicable (including any in-person transaction), that is presented to Us for payment on Your Account when Your Account lacks sufficient collected funds to pay any such item may, at Our option, be returned for nonsufficient funds or We may honor any such item and charge You a fee for doing so. Overdraft Balance Calculation. When processing transactions that debit or credit Your Account, We start each Business Day with Your final Account balance from the preceding Business Day. The final balance takes into account all of the debit and credit transactions that were settled that Business Day pursuant to Our Funds Availability Policy, as well as any other debits or credits to Your Account that were finally settled that day, as described above in the "Deposit of Items" and "Collection and Processing of Items" sections of the Account Agreement. This starting balance at the beginning of a Business Day (the preceding Business Day's final balance) is sometimes referred to as Your "actual balance."

  • Vesting Requirements The vesting of this Award (other than pursuant to accelerated vesting in certain circumstances as provided in Section 3 below or vesting pursuant to Section 6 below) shall be subject to the satisfaction of the conditions set forth in each of subsections A and B, as applicable, and, in each case, subsection C of this Section 2:

  • Minimum Vendor License Requirements Vendor shall maintain, in current status, all federal, state, and local licenses, bonds and permits required for the operation of the business conducted by Vendor. Vendor shall remain fully informed of and in compliance with all ordinances and regulations pertaining to the lawful provision of goods or services under the TIPS Agreement. TIPS and TIPS Members reserve the right to stop work and/or cancel a TIPS Sale or terminate this or any TIPS Sale Supplemental Agreement involving Vendor if Vendor’s license(s) required to perform under this Agreement or under the specific TIPS Sale have expired, lapsed, are suspended or terminated subject to a 30‐day cure period unless prohibited by applicable statue or regulation.

  • Ownership Restrictions Notwithstanding any other provision in the Deposit Agreement or any ADR, the Company may restrict transfers of the Shares where such transfer might result in ownership of Shares exceeding limits imposed by applicable law or the Articles of Association of the Company. The Company may also restrict, in such manner as it deems appropriate, transfers of the ADSs where such transfer may result in the total number of Shares represented by the ADSs owned by a single Holder or Beneficial Owner to exceed any such limits. The Company may, in its sole discretion but subject to applicable law, instruct the Depositary to take action with respect to the ownership interest of any Holder or Beneficial Owner in excess of the limits set forth in the preceding sentence, including, but not limited to, the imposition of restrictions on the transfer of ADSs, the removal or limitation of voting rights or mandatory sale or disposition on behalf of a Holder or Beneficial Owner of the Shares represented by the ADSs held by such Holder or Beneficial Owner in excess of such limitations, if and to the extent such disposition is permitted by applicable law and the Articles of Association of the Company. Nothing herein shall be interpreted as obligating the Depositary or the Company to ensure compliance with the ownership restrictions described in this Section 3.5.

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