Common use of Termination Upon Forfeiture of Units Clause in Contracts

Termination Upon Forfeiture of Units. The Award is subject to the forfeiture provisions set forth in this Section 5. Upon forfeiture and cancellation of a Tranche or Tranches, as the case may be, of Restricted Share Units, or specified portion thereof, and the right to receive payment with respect to the Dividend Equivalents related to such Restricted Share Units pursuant to the terms and conditions of this Section 5, the Award will terminate with respect to such Tranche or Tranches of RSUs and related Dividend Equivalents, or specified portion thereof, and neither Grantee nor any successors, heirs, assigns or legal representatives of Grantee will thereafter have any further rights or interest in the Restricted Share Units or the related right to Dividend Equivalents evidenced by the Agreement with respect to such Tranche or Tranches of RSUs and related Dividend Equivalents, or specified portion thereof, as applicable.

Appears in 2 contracts

Samples: Restricted Share Units Award Agreement (PNC Financial Services Group, Inc.), Restricted Share Units Award Agreement (PNC Financial Services Group, Inc.)

AutoNDA by SimpleDocs

Termination Upon Forfeiture of Units. The Award is subject to the forfeiture provisions set forth in this Section 5. Upon forfeiture and cancellation of a Tranche or Tranches, as the case may be, of Restricted Share Units, or specified portion thereof, and the right to receive payment with respect to the Dividend Equivalents related to such Restricted Share Units pursuant to the terms and conditions of this Section 5, the Award will terminate with respect to such Tranche or Tranches of RSUs and related Dividend EquivalentsRSUs, or specified portion thereof, and related Dividend Equivalents, and neither Grantee nor any successors, heirs, assigns or legal representatives of Grantee will thereafter have any further rights or interest in the such Restricted Share Units or the related right to Dividend Equivalents evidenced by the Award Agreement with respect to such that Tranche or those Tranches of RSUs and related Dividend EquivalentsRSUs, or specified portion thereof, and related Dividend Equivalents, as applicable.

Appears in 2 contracts

Samples: Restricted Share Units Award Agreement (PNC Financial Services Group, Inc.), Restricted Share Units Award Agreement (PNC Financial Services Group, Inc.)

AutoNDA by SimpleDocs

Termination Upon Forfeiture of Units. The Award is subject to the forfeiture provisions set forth in this Section 5. Upon forfeiture and cancellation of a Tranche or Tranches, as the case may be, of Restricted Share Units, or specified portion thereof, and the right to receive payment with respect to the Dividend Equivalents related to such Restricted Share Units pursuant to the terms and conditions of this Section 5, the Award will terminate with respect to such Tranche or Tranches of RSUs and related Dividend Equivalents, or specified portion thereof, and neither Grantee nor any successors, heirs, assigns or legal representatives of Grantee will thereafter have any further rights or interest in the Restricted Share Units or the related right to Dividend Equivalents evidenced by the Award Agreement with respect to such that Tranche or those Tranches of RSUs and related Dividend Equivalents, or specified portion thereof, as applicable.

Appears in 1 contract

Samples: Restricted Share Units Award Agreement (PNC Financial Services Group, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.