Common use of SETTLEMENT OF GRANTED UNITS Clause in Contracts

SETTLEMENT OF GRANTED UNITS. The Company shall deliver to the Grantee on the Vesting Date or upon the date the Granted Units pursuant to Sections 3(c) or 3(e), or as soon as practicable thereafter, a number of shares of Common Stock equal to the aggregate number of Granted Units that vest as of such date; provided, however, that no shares of Common Stock will be issued in settlement of this award unless the issuance of shares complies with all relevant provisions of law and the requirements of any stock exchange upon which the shares of Common Stock may then be listed. No fractional shares of Common Stock will be issued. The Company will pay cash in respect of fractional shares of Common Stock.

SETTLEMENT OF GRANTED UNITS. The Company shall deliver to the Grantee on the Vesting Date or upon the date the Granted Units vest pursuant to Sections 3(c) or 3(e), or as soon as practicable thereafter, a number of shares of Common Stock equal to the aggregate number of Granted Units that vest as of such date; provided, however, that no shares of Common Stock will be issued in settlement of this award unless the issuance of shares complies with all relevant provisions of law and the requirements of any stock exchange upon which the shares of Common Stock may then be listed. No fractional shares of Common Stock will be issued. The Company will pay cash in respect of fractional shares of Common Stock.