Common use of Payment of Dividend Equivalents Clause in Contracts

Payment of Dividend Equivalents. During the Deferral Period, from and after the Date of Grant and until the earlier of (a) the time when the RSU’s become payable in accordance with Section 3, Section 4 or Section 5 hereof or (b) the time when the Grantee’s right to receive Common Shares upon payment of RSU’s is forfeited in accordance with Section 6 hereof, the Company shall pay to the Grantee, whenever a dividend is paid on Common Shares (or at such later time as may be consistent with the Corporation’s administrative requirements), an amount of cash equal to the product of the per-share amount of the dividend paid times the number of such RSU’s.

Payment of Dividend Equivalents. During the Deferral Period, from and after the Date of Grant and until the earlier of (a) the time when the RSU’s 's become payable in accordance with Section 3, Section 4 or Section 5 hereof or (b) the time when the Grantee’s 's right to receive Common Shares upon payment of RSU’s 's is forfeited in accordance with Section 6 hereof, the Company shall pay to the Grantee, whenever a dividend is paid on Common Shares (or at such later time as may be consistent with the Corporation’s administrative requirements)Shares, an amount of cash equal to the product of the per-share amount of the dividend paid times the number of such RSU’s's.

Payment of Dividend Equivalents. During the Deferral Period, from and after the Date of Grant and until the earlier of (a) the time when the RSU’s RSUs become payable in accordance with Section 3, Section 4 or Section 5 hereof or (b) the time when the Grantee’s right to receive Common Shares upon payment of RSU’s RSUs is forfeited in accordance with Section 6 hereof, the Company Corporation shall pay to the Grantee, whenever a dividend is paid on Common Shares (or at such later time as may be consistent with the Corporation’s administrative requirements), an amount of cash equal to the product of the per-share amount of the dividend paid times the number of such RSU’sRSUs.