Common use of Rights During Restriction Period Clause in Contracts

Rights During Restriction Period. During the Period of Restriction, if the Restricted Stock has not been forfeited, Holder will have the right to vote the Restricted Stock, to receive and retain cash dividends and cash distributions paid or distributed on the Restricted Stock by the Company in the ordinary course of its business as a real estate investment trust and to exercise all other rights, powers and privileges of a holder of the Company’s Shares (as defined in the Plan) with respect to the Restricted Stock; except that (a) the Holder will not be entitled to delivery of the stock certificate representing the Restricted Stock until the Vesting Date, (b) the Company (either directly, or indirectly through the Transfer Agent), will retain custody of the Restricted Stock until the Vesting Date, (c) other than regular and special cash distributions paid by the Company in the ordinary course of its business as a real estate investment trust, the Company will retain custody of all distributions made or declared with respect to the Restricted Stock (the “Retained Distributions”) until the Vesting Date, and such Retained Distributions shall not vest or bear interest or be segregated in a separate account, (d) the Holder may not sell, assign, transfer, pledge, encumber or dispose of the Restricted Stock or any Retained Distributions or his or her interest in any of them until the Vesting Date, and (e) a breach of any restrictions, terms or conditions provided herein or in the Plan will cause a forfeiture of the Restricted Stock and any Retained Distributions with respect thereto.

Appears in 3 contracts

Samples: Restricted Stock Awards Agreement (One Liberty Properties Inc), Restricted Stock Awards Agreement (One Liberty Properties Inc), Restricted Stock Awards Agreement (One Liberty Properties Inc)

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Rights During Restriction Period. During the Period of Restriction, if the Restricted Stock has not been forfeited, Holder will have the right to vote the Restricted Stock, to receive and retain cash dividends and cash distributions paid or distributed on the Restricted Stock by the Company in the ordinary course of its business as a real estate investment trust and to exercise all other rights, powers and privileges of a holder of the Company’s Shares (as defined in the Plan) with respect to the Restricted Stock; except that (a) the Holder will not be entitled to delivery of the stock certificate representing the Restricted Stock until the Vesting Date, (b) the Company (either directly, or indirectly through the Transfer Agent), will retain custody of the Restricted Stock stock certificate until the Vesting Date, (c) other than regular and special cash distributions paid by the Company in the ordinary course of its business as a real estate investment trust, the Company will retain custody of all distributions made or declared with respect to the Restricted Stock (the “Retained Distributions”) until the Vesting Date, and such Retained Distributions shall not vest or bear interest or be segregated in a separate account, (d) the Holder may not sell, assign, transfer, pledge, encumber or dispose of the Restricted Stock or any Retained Distributions or his or her interest in any of them until the Vesting Date, and (e) a breach of any restrictions, terms or conditions provided herein or in the Plan will cause a forfeiture of the Restricted Stock and any Retained Distributions with respect thereto.

Appears in 2 contracts

Samples: Restricted Stock Awards Agreement (One Liberty Properties Inc), Restricted Stock Awards Agreement (One Liberty Properties Inc)

Rights During Restriction Period. During the Period of RestrictionRestriction Period, if the Restricted Stock has Shares have not been forfeited, Holder will have the right to vote the Restricted StockShares, to receive and retain cash dividends and cash distributions paid or distributed on the Restricted Stock Shares by the Company Trust in the ordinary course of its business as a real estate investment trust and to exercise all other rights, powers and privileges of a holder of the Company’s Trust's Beneficial Shares (as defined in the Plan) with respect to the Restricted StockShares; except that (a) the Holder will not be entitled to delivery of the stock certificate representing the Restricted Stock Shares until the Vesting Date, (b) the Company (either directly, or indirectly through the Transfer Agent), Trust will retain custody of the Restricted Stock stock certificate until the Vesting Date, (c) other than regular and special cash distributions paid by the Company Trust in the ordinary course of its business as a real estate investment trust, the Company Trust will retain custody of all distributions made or declared with respect to the Restricted Stock Shares (the "Retained Distributions") until the Vesting Date, and such Retained Distributions shall not vest or bear interest or be segregated in a separate account, (d) the Holder may not sell, assign, transfer, pledge, encumber or dispose of the Restricted Stock Shares or any Retained Distributions or his or her interest in any of them until the Vesting Date, and (e) a breach of any restrictions, terms or conditions provided herein or in the Plan will cause a forfeiture of the Restricted Stock Shares and any Retained Distributions with respect thereto.

Appears in 1 contract

Samples: Restricted Shares Agreement (BRT Realty Trust)

Rights During Restriction Period. During the Period of Restriction, if the Restricted Stock has not been forfeited, Holder will have the right to vote the Restricted Stock, to receive and retain cash dividends and cash distributions paid or distributed on the Restricted Stock by the Company in the ordinary course of its business as a real estate investment trust and to exercise all other rights, powers and privileges of a holder of the Company’s Shares (as defined in the Plan) with respect to the Restricted Stock; , except that (a) the Holder will not be entitled to delivery of the a stock certificate representing the Restricted Stock until the Vesting Date, (b) the Company (either directly, or indirectly through the Transfer Agent), ) will retain custody of the Restricted Stock until the Vesting Date, (c) other than regular and special cash distributions paid by the Company in the ordinary course of its business as a real estate investment trust, the Company will retain custody of all distributions made or declared with respect to the Restricted Stock (the “Retained Distributions”) until the Vesting Date, and such Retained Distributions shall not vest or bear interest or be segregated in a separate account, (d) the Holder may not sell, assign, transfer, pledge, encumber or dispose of the Restricted Stock or any Retained Distributions or his or her interest in any of them until the Vesting Date, and (e) a breach of any restrictions, terms or conditions provided herein or in the Plan will cause a forfeiture of the Restricted Stock and any Retained Distributions with respect thereto.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (BRT Apartments Corp.)

Rights During Restriction Period. During the Period of Restriction, if the Restricted Stock has Shares have not been forfeited, Holder will have the right to vote the Restricted StockShares, to receive and retain cash dividends and cash distributions paid or distributed on the Restricted Stock Shares by the Company Trust in the ordinary course of its business as a real estate investment trust and to exercise all other rights, powers and privileges of a holder of the CompanyTrust’s Beneficial Shares (as defined in the Plan) with respect to the Restricted StockShares; except that (a) the Holder will not be entitled to delivery of the stock certificate representing the Restricted Stock Shares until the Vesting Date, (b) the Company (either directly, or indirectly through the Transfer Agent), Trust will retain custody of the Restricted Stock stock certificate until the Vesting Date, (c) other than regular and special cash distributions paid by the Company Trust in the ordinary course of its business as a real estate investment trust, the Company Trust will retain custody of all distributions made or declared with respect to the Restricted Stock Shares (the “Retained Distributions”) until the Vesting Date, and such Retained Distributions shall not vest or bear interest or be segregated in a separate account, (d) the Holder may not sell, assign, transfer, pledge, encumber or dispose of the Restricted Stock Shares or any Retained Distributions or his or her interest in any of them until the Vesting Date, and (e) a breach of any restrictions, terms or conditions provided herein or in the Plan will cause a forfeiture of the Restricted Stock Shares and any Retained Distributions with respect thereto.

Appears in 1 contract

Samples: Restricted Shares Agreement (BRT Realty Trust)

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Rights During Restriction Period. During the Period of Restriction, if the Restricted Stock has Shares have not been forfeited, Holder will have the right to vote the Restricted StockShares, to receive and retain cash dividends and cash distributions paid or distributed on the Restricted Stock Shares by the Company Trust in the ordinary course of its business as a real estate investment trust and to exercise all other rights, powers and privileges of a holder of the CompanyTrust’s Beneficial Shares (as defined in the Plan) with respect to the Restricted StockShares; except that (a) the Holder will not be entitled to delivery of the a stock certificate representing the Restricted Stock Shares until the Vesting Date, (b) the Company Trust (either directly, or indirectly through the Transfer Agent), ) will retain custody of the Restricted Stock Shares until the Vesting Date, (c) other than regular and special cash distributions paid by the Company Trust in the ordinary course of its business as a real estate investment trust, the Company Trust will retain custody of all distributions made or declared with respect to the Restricted Stock Shares (the “Retained Distributions”) until the Vesting Date, and such Retained Distributions shall not vest or bear interest or be segregated in a separate account, (d) the Holder may not sell, assign, transfer, pledge, encumber or dispose of the Restricted Stock Shares or any Retained Distributions or his or her interest in any of them until the Vesting Date, and (e) a breach of any restrictions, terms or conditions provided herein or in the Plan will cause a forfeiture of the Restricted Stock Shares and any Retained Distributions with respect thereto.

Appears in 1 contract

Samples: Restricted Shares Agreement (BRT Realty Trust)

Rights During Restriction Period. During the Period of Restriction, if the Restricted Stock has not been forfeited, Holder will have the right to vote the Restricted Stock, to receive and retain cash dividends and cash distributions paid or distributed on the Restricted Stock by the Company in the ordinary course of its business as a real estate investment trust and to exercise all other rights, powers and privileges of a holder of the Company’s Shares (as defined in the Plan) with respect to the Restricted Stock; , except that (a) the Holder will not be entitled to delivery of the stock certificate representing the Restricted Stock until the Vesting Date, (b) the Company (either directly, or indirectly through the Transfer Agent), ) will retain custody of the Restricted Stock until the Vesting Date, (c) other than regular and special cash distributions paid by the Company in the ordinary course of its business as a real estate investment trust, the Company will retain custody of all distributions made or declared with respect to the Restricted Stock (the “Retained Distributions”) until the Vesting Date, and such Retained Distributions shall not vest or bear interest or be segregated in a separate account, (d) the Holder may not sell, assign, transfer, pledge, encumber or dispose of the Restricted Stock or any Retained Distributions or his or her interest in any of them until the Vesting Date, and (e) a breach of any restrictions, terms or conditions provided herein or in the Plan will cause a forfeiture of the Restricted Stock and any Retained Distributions with respect thereto. 6.

Appears in 1 contract

Samples: Restricted Stock Awards Agreement Restricted Stock Awards Agreement (BRT Apartments Corp.)

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