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Term of Restriction Sample Clauses

Term of Restriction. (a) Subject to the forfeiture provisions of Paragraph 4 of this Agreement, the Restrictions shall lapse (i) with respect to half of the Shares Subject to Restrictions (x) on «Date» if the Participant is an employee of the Corporation on «Date», unless the Participant’s cessation of employment was due to the Participant’s death, Disability or Retirement (as those initially capitalized terms are defined below), or (y) subject to applicable clawback provisions, as soon as reasonably feasible after «Date» as it may be determined that the Performance Criteria have been attained and (ii) with respect to half of the Shares Subject to Restrictions, subject to applicable clawback provisions, as soon as reasonably feasible after «Date» as it may be determined that the Performance Criteria have been attained. With respect to the half of the Shares Subject to Restrictions subject only to the Performance Criteria, if the Corporation does not attain the Performance Criteria on or before the three-year measurement period ending «Date», such half of the Shares Subject to Restrictions shall be forfeited immediately upon the completion of that three-year measurement period. (b) For purposes of this Agreement, the “Performance Criteria” shall mean «Description of Applicable Performance Criteria». The period for measuring the Performance Criteria shall end as of «Date» and the Personnel and Compensation Committee shall as promptly as possible following the completion of the audit of the Corporation for the «Year» fiscal year determine whether the Performance Criteria have been met. (c) The period from the Date of Grant until the lapse of the applicable Restrictions with respect to the Shares Subject to Restrictions is the “Restriction Period” for purposes of this Agreement. (d) As soon as administratively practicable following the lapse of the Restrictions without a forfeiture of the applicable Shares Subject to Restrictions, and upon the satisfaction of all other applicable conditions as to such Shares Subject to Restrictions, including, but not limited to, the payment by the Participant of all applicable withholding taxes, if any, the Corporation shall deliver or cause to be delivered to the Participant shares of Common Stock, which may be in the form of a Proof of Ownership for such shares, equal in number to the applicable Shares Subject to Restrictions, which shall not be subject to the transfer restrictions set forth above and shall not bear the legend or electronic not...
Term of Restriction. (a) Subject to the forfeiture provisions of Paragraph 4 of this Agreement, the Restrictions shall lapse with respect to the Deferred Salary on the December 31, 2011 if (i) the Employee is an employee of the Corporation or a consultant to the Corporation on December 31, 2011, if a business day and, if not a business day, on the business day next preceding December 31, 2011 and (ii) the Committee determines the Performance Criteria for 2011 will have been met. (b) For purposes of this Agreement, the “Performance Criteria” shall mean that the income before taxes of the Corporation, measured under GAAP, shall be at or greater than $50 million, in the aggregate, for the 2011 fiscal year of the Corporation. The period for measuring the Performance Criteria shall end as of December 31, 2011 and the Committee shall as promptly as possible as of December 31, 2011 estimate whether the Performance Criteria for 2011 have been met. (c) The period from the Date of Grant until the lapse of the applicable Restrictions and employment continuation obligations with respect to the Deferred Salary is the “Restriction Period” for purposes of this Agreement. (d) On December 31, 2011, if a business day or, if not a business day, on the next preceding business day without a forfeiture of the applicable Shares Subject to Restrictions, and upon the satisfaction of all other applicable conditions as to such Shares Subject to Restrictions, the Corporation shall deliver or cause to be delivered to the Employee the Deferred Salary, net of withholding for taxes.
Term of RestrictionThe restrictions, obligations and duties set forth in this Restriction shall run with the Premises in perpetuity from the date on which this Restriction is recorded with the Essex South District Registry of Deeds (the “Term”) and shall inure to the benefit of the Commission and all parties claiming by, through or under the Commission and shall bind the Grantor and all parties claiming by, through or under the Grantor. The rights hereby granted to the Commission constitute the right of the Commission to enforce this Preservation Restriction Agreement during the Term. The Grantor hereby covenants for itself to stand seized and hold title to the Premises subject to the terms of this Restriction during the Term. This Restriction shall extend to and be binding upon Grantor and Xxxxxxx, their respective successors in interest and all persons hereafter claiming under or through Grantor and Grantee during the Term, and the words “Grantor”, “Grantee” when used herein shall include all such persons. Any right, title, or interest herein granted to Grantee also shall be deemed granted to each successor and assign of Grantee and each such following successor and assign thereof, and the word “Grantee” shall include all such successors and assigns. Anything contained herein to the contrary notwithstanding, the owner of the Property shall have no obligation pursuant to this instrument where such owner shall cease to have any ownership interest in the Property by reason of a bona fide transfer. The restrictions, stipulations and covenants contained in this Restriction shall be inserted by Grantor, verbatim or by express reference, in any subsequent deed or other legal instrument by which Grantor divests itself of either the fee simple title to or any lesser estate in the Property or any part thereof, including by way of example and not limitation, a lease of all or a portion of the Property. Notwithstanding anything to the contrary contained herein it is expressly agreed that upon the Grantor divesting itself of its title to the Premises its obligations pursuant to this Restriction shall cease and such obligations shall become the obligations of the Grantor’s successor(s) in interest.
Term of RestrictionThe terms and conditions set forth in this Agreement shall run with the land and shall bind Owner and all successors, heirs, grantees and assigns, both voluntary and involuntary. Except as otherwise noted in Section 11 of this Agreement, the terms of this Agreement shall be made part of each deed subsequently recorded and shall bind each successor in interest for a period of thirty (30) years from the date of the recordation of the deed restriction.
Term of RestrictionSubject to the KORA, each party's obligations under this Section 4 shall remain in effect during the term of this Agreement and for a period of two (2) years after its termination for any reason, except with respect to information considered or deemed to be a trade secret under applicable law for which each party's obligations of confidentiality will remain in effect for so long as such information continues to constitute a trade secret under applicable law.
Term of Restriction. (a) Subject to the forfeiture provisions of Paragraph 4 of this Agreement, the Restrictions shall lapse on _________, 20__, if the Grantee is an employee of the Company on _________, 20__, unless the Grantee’s cessation of employment was due to the Grantee’s death, Disability or Retirement with the consent of the Company. (b) The period from the Date of Grant until the lapse of the applicable of the Restrictions with respect to the Restricted Shares is the “Restriction Periodfor purposes of this Agreement. (c) As soon as administratively practicable following the lapse of the Restrictions without a forfeiture of the applicable Restricted Shares, and upon the satisfaction of all other applicable conditions as to such Restricted Shares, including, but not limited to, the payment by the Grantee of all applicable withholding taxes, if any, the Company shall deliver or cause to be delivered to the Grantee shares of common stock of the Company, which may be in the form of a certificate or certificates for such shares or electronic or book entry if so directed by the Grantee.
Term of Restriction. The obligations of the Receiving Party under this Agreement with respect to each item of Confidential Information that is subject to the nondisclosure and non-use provisions set forth above shall extend for a period of [***] years from the date of initial disclosure to the Disclosing Party of such item; provided, however, that with respect to information provided (a) which constitutes chemical structures; or (b) which is in written form under this Agreement and specifically identified by the Disclosing Party as trade secret information, the Receiving Party’s obligations shall extend thereafter until such information no longer constitutes a trade secret under Applicable Laws.
Term of Restriction. (a) Subject to the forfeiture provisions of Paragraph 4 of this Agreement, the Restrictions shall lapse (i) with respect to half of the Restricted Shares on the earlier of (x) January 1, 2009 if the Employee is an employee of the Corporation on January 1, 2009, unless the Employee's cessation of employment was due to the Employee's death, disability or Retirement (as defined below), or (y) the attainment of the Performance Criteria and (ii) with respect to half of the Restricted Shares, the attainment of the Performance Criteria. With respect to the half of the Restricted Shares subject to the Performance Criteria, if the Corporation does not attain the Performance Criteria, such half of the Restricted Shares shall be forfeited immediately upon the completion of the three-year measurement period for the Performance Criteria. (b) For purposes of this Agreement, the "Performance Criteria" shall mean that the Net Loss of the Corporation, measured under GAAP, shall not exceed, in the aggregate, $60 million for the 2004, 2005 and 2006 fiscal years of the Corporation. The period for measuring the Performance Criteria shall end as of December 31, 2006 and the Personnel and Compensation Committee or the Stock Incentive Award Subcommittee, as applicable, shall as promptly as possible following the completion of the audit of the Corporation for the 2006 fiscal year determine whether the Performance Criteria have been met.
Term of Restriction. Grantee hereby covenants and agrees for itself, its successors, its assigns, and every successor-in-interest to the Property that Grantee, such successors and such assigns, shall develop, operate, maintain or use the Property in accordance with the terms and conditions of the LDA and this Deed (unless expressly waived in writing by Grantor) for the term of twenty (20) years from the date of recordation of the Certificate of Completion (as defined in the LDA); provided that, however, the covenants contained in Sections 7 and 8 below shall remain in effect in perpetuity, shall continue for the term set forth therein.
Term of Restriction. This restriction shall be binding upon the CONTRACTOR for «Term» years <or in perpetuity if acquisition >from the date of the recording of this instrument.