Purging Distribution Sample Clauses
The Purging Distribution clause defines the process and conditions under which certain materials, data, or products are removed or disposed of from a system, inventory, or database. Typically, this clause outlines the specific triggers for purging, such as the expiration of retention periods, completion of a project, or regulatory requirements, and may detail the methods for secure destruction or deletion. Its core practical function is to ensure that obsolete or unnecessary items are systematically eliminated, thereby reducing storage costs, minimizing risk of unauthorized access, and maintaining compliance with legal or contractual obligations.
Purging Distribution. Upon declaration of the Purging Distribution, holders of CareTrust Restricted Stock Awards will be entitled to receive the Purging Distribution with respect to the CareTrust Common Stock subject to such award on the same date or dates that the Purging Distribution is payable on CareTrust Common Stock to stockholders of CareTrust generally.
Purging Distribution. In connection with the Purging Distribution, GLPI Stock Appreciation Rights (whether held by a Penn Employee or a GLPI Employee) shall be adjusted in a manner that preserves both the intrinsic value of the GLPI Stock Appreciation Rights and the ratio immediately prior to the Purging Distribution between the trading price of the GLPI Common Stock and the per share strike price applicable to the GLPI Stock Appreciation Right.
Purging Distribution. Upon declaration of the Purging Distribution, holders of GLPI Restricted Stock Units will be credited with a dividend equivalent equal to the Purging Distribution, which dividend will accrue and be paid by GLPI to holders who are GLPI Employees and by Penn to holders who are Penn Employees, in each case, if applicable, on the payment date of the related GLPI Restricted Stock Unit. Holders of GLPI Restricted Stock Awards will be entitled to receive the Purging Distribution with respect the GLPI Common Stock subject to such award on the same date or dates that the Purging Distribution is payable on GLPI Common Stock to stockholders of GLPI generally.
Purging Distribution. In connection with the Purging Distribution, GLPI Options (whether held by a Penn Employee or a GLPI Employee) shall be adjusted in a manner that preserves both the intrinsic value of the GLPI Options and the ratio immediately prior to the Purging Distribution between the trading price of the GLPI Common Stock and the per share exercise price applicable to the GLPI Option.