Performance Hurdle Sample Clauses

Performance Hurdle. The “Performance Hurdle” shall be achieved only if total returns to common shareholders equal or exceed [ ]% per annum on a cumulative compounded basis (“Total Return”). Total Return shall be measured annually in accordance with the books and records of the Company at the end of the respective first quarter financial reporting periods of each calendar year coinciding with the applicable Performance Vesting Date (i.e., March 31st of each respective calendar year). Total Return, expressed as a percentage and stated on an annual basis, shall equal the quotient resulting from dividing (A) the sum of (i) total cumulative dividends on Common Stock declared by the Company and having a Common Stock shareholder of record date starting from [ ] and continuing through and including the Performance Vesting Date, plus (ii) the simple average (i.e., the arithmetic mean) of the trading day closing prices (as listed on the New York Stock Exchange) for the Common Stock during the period commencing March 24 of the applicable year, through and including March 31 of the applicable year (the “Performance Vesting Date Share Price”), less (iii) the Base Share Price (as defined below) by (B) the Base Share Price. Solely for purposes of calculating such Total Return, the “Base Share Price” per share of Common Stock shall be equal to the simple average (i.e., the arithmetic mean) of the trading day closing prices (as listed on the New York Stock Exchange) for the Common Stock during the period commencing March 24, 200[ ], through and including March 31, 200[ ] (the “Base Share Price”).
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Performance Hurdle. The occurrence of all of the following: (a) the Texas Ten Revaluation Date shall have occurred on or before December 31, 2018, (b) the approximately 11,750 square foot addition/expansion of Mountain’s Edge Hospital for five (5) surgical suites and the other improvements and work included in the “Capital Addition Project” (as defined in the Fundamental Master Lease) have been completed in accordance with the terms of the Fundamental Master Lease, a certificate of occupancy which permits the use and occupancy of such improvements shall have been issued by the applicable governmental authority, and all other licenses, authorizations and permits required by any governmental authority for the use and operation of such improvements shall have been issued, (c) the obligations of the Fundamental Tenant to pay full rent and replacement reserves under the Fundamental Master Lease (whether or not the Fundamental Rent Deferment has been paid in full) and of the Replacement Texas Ten Tenant to pay rent under the Replacement Texas Ten Lease shall have commenced (which obligation as to the Fundamental Tenant and pursuant to the Fundamental Master Lease Amendment commences April 20, 2019), (d) no default or event of default under the Fundamental Master Lease or the Replacement Texas Ten Lease or other event or circumstance which with the passing of time or the giving of notice, or both, could become a default or event of default under the Fundamental Master Lease or the Replacement Texas Ten Lease, shall have occurred, (e) each of the Replacement Texas Ten Tenant and the Fundamental Tenant shall have not less than one (1) full quarter history of paying full rent and reserves with no payment default, late payments or delinquencies (for the avoidance of doubt, any period with free rent, rent credits or similar benefit to a tenant shall not count towards establishing a full quarter history of paying full rent), (f) Borrower shall have delivered to the Agent a written request to remove the surge pricing spread set forth in the definition of Applicable Margin and to return to the original pricing spread (which request may not be delivered prior to July 1,
Sample 1
Performance Hurdle i. The RSUs shall vest only if the closing price per share of Common Stock during any consecutive thirty (30) trading days concluding on or prior to the Final Vesting Date reflects an increase of at least two hundred percent (200%) over the Corporation’s volume-weighted average closing price per share of Common Stock for the thirty (30) consecutive trading days preceding January 13, 2021 (i.e., $49.6486) (such increase, the “Performance Hurdle”) ii. The number of RSUs that vest and become payable on the Final Vesting Date based on achievement of the Performance Hurdle will be reduced by any RSUs that became vested on the Interim Vesting Date and settled pursuant to Section 5 of this Agreement.
Sample 1
Performance Hurdle. In order for any PSUs to vest, the End Share Price must be equal to at least $475.00 (such condition, the “Performance Hurdle”). For the avoidance of doubt, if the Performance Hurdle is not achieved, no PSUs will vest and the Award will be forfeited in its entirety for no consideration. “End Share Price” means the average closing price of Shares as reported by the New York Stock Exchange for the 90 consecutive trading days ending on the last day of the Performance Period.
Sample 1
Performance Hurdle. 14.1 Subject to clause 14.3, the Performance Hurdle is the achievement by Oregon as recorded in its audited accounts for the financial year ending 31 December 2008 of net profit after tax (after adjusting for depreciation and other similar non-cash items) of $5,000,000. 14.2 For the purposes of calculating the Performance Hurdle in clause 14.1 above, the accounts will be audited by the auditor of Rubirosa and will be prepared: (a) on the sole entity, Oregon; and (b) in accordance with applicable Australian accounting standards and the Corporations Act, and will not include any debt funding put in place after Completion or any funds raised from the issue by the Company of any securities after Completion, the intent being that the funding base for Oregon for this purpose will be limited to the funds from the Pre IPO Capital Raising and the Capital Raising. 14.3 If prior to 31 December 2008 Oregon is affected by a Force Majeure Event or if Completion is delayed through no fault of RFI or Oregon or if the Parties agree to extend the Completion Date, then the time for achieving the Performance Hurdle will be extended to the end of the next immediate financial quarter after adding the period of the Force Majeure Event, or delay, or the extension as the case may be to 31 December 2008. 14.4 If a dispute arises between RFI and Rubirosa in relation to the calculation of the Performance Hurdle, RFI or Rubirosa may give a notice to the other Party stating the existence and nature of the dispute and nominating an independent Australian accounting firm to review the accounts prepared in accordance with clause 12.2 for the purpose of resolving the dispute. Unless the other Party objects to the firm nominated in the notice, RFI and Rubirosa must as soon as practicable submit the dispute to the firm nominated in the notice for consideration and adjudication by that firm. The expenses of the firm in considering the dispute will be borne by Rubirosa. 14.5 Clause 14.4 does not require RFI and Rubirosa to submit to the adjudication by the firm nominated in a notice given under clause 14.4 and clause 14.4 does not derogate in any way from any other rights a Party may have under this Agreement.
Sample 1

Related to Performance Hurdle

  • Performance Measurement The Uniform Guidance requires completion of OMB-approved standard information collection forms (the PPR). The form focuses on outcomes, as related to the Federal Award Performance Goals that awarding Federal agencies are required to detail in the Awards.

  • Performance Condition Notwithstanding the vesting schedule stated in the Award Notification, your Restricted Shares shall not vest unless the Company achieves positive Adjusted Net Earnings in any fiscal year during the term of the Award. “Adjusted Net Earnings” means net earnings determined in accordance with GAAP as publicly reported by the Company for a fiscal year, adjusted to eliminate the following: (1) the cumulative effect of changes in GAAP; (2) gains and losses from discontinued operations; (3) extraordinary gains or losses; and (4) any other unusual or nonrecurring gains or losses which are separately identified and quantified, including merger related charges. 

  • Performance Measure Grantee will adhere to the performance measures requirements documented in

  • Performance Period This Agreement shall be performed during the period which begins Oct 01 2020 and ends Sep 30 2022. All services under this Agreement must be rendered within this performance period, unless directly specified under a written change or extension provisioned under Article 14, which shall be fully executed by both parties to this Agreement.

  • Performance Conditions The Shares shall be issuable only if (and to the extent) that the Performance Criteria, set forth herein, are satisfied during the Performance Period. The Controller of the Company and the Compensation Committee of the Board of Directors of the Company shall certify whether, and to what extent, the Performance Criteria have been achieved. If the minimum performance is not met, no Shares shall be issued and the Award shall be forfeited.

  • Performance Metrics The “Performance Metrics” for the Performance Period are: (i) the JD Power Residential National Large Segment Survey for investor-owned utilities; (ii) the System Average Interruption Frequency Index (Major Events Excluded) (“XXXXX”); (iii) Arizona Public Service Company’s customer to employee improvement ratio; (iv) the OSHA rate (All Incident Injury Rate); (v) nuclear capacity factor; and (vi) coal capacity factor. (1) With respect to the Performance Metric described in clause (i) of this Subsection 6(a), the JD Power Residential National Large Segment Survey will provide data on an annual basis reflecting the Company’s percentile ranking, relative to other participating companies. (2) With respect to the Performance Metric described in clause (ii) of this Subsection 6(a), the Edison Electric Institute (“EEI”) will provide data on an annual basis regarding the XXXXX result of the participating companies; the Company will calculate its XXXXX result for the year in question and determine its percentile ranking based on the information provided by EEI. (3) With respect to the Performance Metric described in clause (iii) of this Subsection 6(a), SNL, an independent third party data system, will provide data on an annual basis regarding the customer and employee counts; the Company will use its customer and employee counts for the year in question and determine its percentile ranking based on the information provided by SNL. Only those companies whose customers and employees were included in the data provided by SNL in each of the years of the Performance Period will be considered. (4) With respect to the Performance Metric described in clause (iv) of this Subsection 6(a), EEI will provide data on an annual basis regarding the OSHA rate of the participating companies; the Company will calculate its OSHA rate for the year in question and determine its percentile ranking based on the information provided by EEI. (5) With respect to the Performance Metric described in clause (v) of this Subsection 6(a), SNL will provide data on an annual basis regarding the nuclear capacity factors of the participating nuclear plants; the Company will calculate its nuclear capacity factor for the year in question and determine its percentile ranking based on the information provided by SNL. Only those plants that were included in the data provided by SNL in each of the years of the Performance Period will be considered. (6) With respect to the Performance Metric described in clause (vi) of this Subsection 6(a), SNL will provide data on an annual basis regarding the coal capacity factors of the participating coal plants; the Company will calculate its coal capacity factor for the year in question and determine its percentile ranking based on the information provided by SNL. Only those plants that were included in the data provided by SNL in each of the years of the Performance Period will be considered. (7) The Company’s percentile ranking during the Performance Period for each Performance Metric will be the average of the Company’s percentile ranking for each Performance Metric during each of the three years of the Performance Period (each, an “Average Performance Metric”); provided, however, that if the third year of a Performance Metric is not calculable by December 15 of the following year, the Performance Metric shall consist of the three most recent years for which such Performance Metric is calculable. The Company’s “Average Performance,” for purposes of determining any Base Grant adjustments pursuant to Subsection 5(b) above will be the average of the Average Performance Metrics. If only quartile, rather than percentile, rankings are available for a particular Performance Metric, the Average Performance Metric for any such Performance Metric shall be expressed as a percentile. For example, if the Performance Metric was in the top quartile for two Performance Periods and in the lowest quartile in the other Performance Period, the average of these quartiles would be 3 (the average of 4, 4, and 1) and the Average Performance Metric would be the 75th percentile (3 /4). The calculations in this Subsection 6(a)(7) will be verified by the Company’s internal auditors. (8) If either EEI or SNL discontinues providing the data specified above, the Committee shall select a data source that, in the Committee’s judgment, will provide data most comparable to the data provided by EEI or SNL, as the case may be. If the JD Power Residential National Large Segment Survey for investor-owned utilities (or a successor JD Power survey) is not available during each of the years of the Performance Period, the Performance Metric associated with the JD Power Residential Survey (Subsection 6(a)(1)) will be disregarded and not included in the Company’s Average Performance for purposes of determining any Base Grant adjustments pursuant to Subsection 5(b).

  • Performance Goal (a) Subject to the following sentence, the Performance Goal is set out in Appendix A hereto, which Appendix A is incorporated by reference herein and made a part hereof. Notwithstanding the foregoing, the provisions of Section 13 or any other provision of this Agreement to the contrary, the Committee reserves the right to unilaterally change or otherwise modify the Performance Goal in any manner whatsoever (including substituting a new Performance Goal). If the Committee exercises such discretionary authority to any extent, the Committee shall provide the Grantee with a new Appendix A in substitution for the Appendix A attached hereto, and such new Appendix A and the Performance Goal set out therein (rather than the Appendix A attached hereto and the Performance Goal set out therein) shall in all events apply for all purposes of this Agreement. (b) Depending upon the extent, if any, to which the Performance Goal has been achieved, and subject to compliance with the requirements of Section 4, each PSU shall entitle the Grantee to receive, at such time as is determined in accordance with the provisions of Section 5, between 0 and 2.0 Shares for each PSU. The Committee shall, as soon as practicable following the last day of the Performance Period, certify (i) the extent, if any, to which, in accordance with Appendix A, the Performance Goal has been achieved with respect to the Performance Period and (ii) the number of whole and/or partial Shares, if any, which, subject to compliance with the vesting requirements of Section 4, the Grantee shall be entitled to receive with respect to each PSU (with such number of whole and/or partial Shares being hereafter referred to as the “Share Delivery Factor”). Such certification shall be final, conclusive and binding on the Grantee, and on all other persons, to the maximum extent permitted by law.

  • Performance Targets Threshold, target and maximum performance levels for each performance measure of the performance period are contained in Appendix B.

  • Performance Measures The System Agency will monitor the Grantee’s performance of the requirements in Attachment A and compliance with the Contract’s terms and conditions.

  • Performance Pay In accordance with Section 8 of the General Appropriations Act for Fiscal Year 2020-2021, contingent upon the availability of funds and at the Agency Head’s discretion, each agency is authorized to grant merit pay increases based on the employee’s exemplary performance, as evidenced by a performance evaluation conducted pursuant to Rule 60L-35, Florida Administrative Code.

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