Vesting and Term. County’s rights under this Restrictive Covenant vest upon the execution of this Restrictive Covenant. This Restrictive Covenant shall remain in full force and effect in perpetuity unless terminated in accordance with Section 13. Provided, however, if any of the terms, covenants, conditions, restrictions, uses, limitations, or obligations created by this Restrictive Covenant are held to be unlawful or void for violation of: (i) the rule against perpetuities or some analogous statutory provision; (ii) the rule restricting restraints on alienation; or (iii) any other statutory or common law rule imposing like or similar time limits, then such provision shall continue only for the period of the lives of the duly elected County Commissioners in office on the date of the execution of this Restrictive Covenant, their now living descendants, if any, and the survivor of them, plus 21 years.
Vesting and Term. (a) The Warrant shall vest at the rate of 20% per year beginning on the first anniversary of the date that the Bank opens for business (the "Issue Date"). On each successive anniversary of the Issue Date, an additional 20% of the Warrant shall vest. The portion of the Warrant which is vested may be exercised in whole, or from time to time in part, at any time prior to the Expiration Time (as defined herein).
(b) The term for the exercise of the Warrant begins at 9:00 a.m., Eastern Time, on the Issue Date and ends at 5:00 p.m., Eastern Time, on the 10th anniversary of the Issue Date (the "Expiration Time").
(c) Notwithstanding any other provision of this Agreement, the Warrant shall expire on any earlier date than that provided in Section 2(b) hereof in the event the primary federal regulator of the Company or the Bank (the "Federal Regulator") may require the Warrant Holder to exercise or forfeit the Warrant due to the capital of the Company or the Bank falling below the minimum requirements as determined by the Federal Regulator.
Vesting and Term. (a) On or before February 29, 2016, the Compensation Committee of Actua’s Board of Directors (the “Board”) (such committee, the “Committee”) shall determine the extent (expressed as a percentage) to which Actua has achieved the 2015 performance goals outlined in the Actua 2015 Performance Plan adopted by the Board on February 27, 2015 (the “Performance Plan”) (such percentage, the “Earned Percentage”). If the Earned Percentage is 150% or greater, all of the Shares (excluding any Shares forfeited pursuant to Section 1(c) or Section 1(d) below) shall vest on February 29, 2016. If the Earned Percentage is more than 0% but less than 150%, a number of Shares equal to the product of (i) two-thirds, (ii) the Earned Percentage and (iii) the aggregate number of Shares (excluding any Shares forfeited pursuant to Section 1(d) below) shall vest on February 29, 2016. On February 29, 2016, any Shares not vested pursuant to this Section 1(a) or previously forfeited shall be automatically forfeited.
Vesting and Term. (a) Except as provided in Paragraph 1(b) below, you will vest in your right to the Shares granted under this Award according to the following vesting schedule
Vesting and Term. The Owner and Town agree that the Town’s rights and interests under this Restrictive Covenant are vested immediately and that this Restrictive Covenant, and any amendments hereto, shall be binding and in full force and effect for the term as set forth herein, unless terminated as herein provided.
Vesting and Term. The Option shall be fully vested and may be exercised, in part or in full, at any time and from time to time prior to the expiration or termination thereof. The term of the Option shall expire, if not sooner terminated as provided herein, on August 4, 2004, (which is the 10th anniversary of the date of grant of the Arcade Option), and the Option is not exercisable as to any shares on or after such date.
Vesting and Term. Each Option shall be fully and immediately vested on the Date of Grant, but shall become exercisable or payable only in accordance with the provisions of Sections 4 and 5 hereof. To the extent that an Option is not exercised within the exercise period described in Section 4 hereof, and is not otherwise settled in accordance with Section 5 hereof, the Option shall be terminated and the Optionee’s rights hereunder shall be forfeited.
Vesting and Term. (a) 183,334 of the Shares will vest in accordance with the following schedule provided you are then, and have remained at all times since the Grant Date, an employee of the Company: May 7, 2012 22,917 November 11, 2012 22,917 May 6, 2013 22,916 November 11, 2013 22,917 May 5, 2014 22,917 November 10, 2014 22,917 May 4, 2015 22,916 November 9, 2015 22,917 (b)(1) 183,333 of the Shares will vest in the event either of the following performance metrics is achieved at any time on or before December 31, 2015: (i) the Company achieves trailing twelve-month consolidated revenue in accordance with U.S. generally accepted accounting principles (“GAAP”) of $500 million or more or (ii) the Company reports that its share of trailing twelve-month consolidated earnings before interest, depreciation and amortization, excluding stock-based compensation and unusual items (“Adjusted EBITDA”) of $70 million or more. The vesting date for any Shares vesting pursuant to this paragraph will be the second business day following the Company’s public disclosure of its earnings for the period during which the applicable performance metric is achieved. Notwithstanding anything herein to the contrary, any Shares that are entitled to vest prior to November 11, 2012 pursuant to this Section 1(b)(1) shall vest on November 11, 2012.
Vesting and Term. The County’s rights under this Restrictive Covenant vest upon the execution of this Restrictive Covenant. This Restrictive Covenant will remain in full force and effect for a period of five years from the date hereof and will thereafter terminate.
Vesting and Term. This Warrant shall be exercisable to purchase the Warrant Stock at any time and from time to time from the date hereof until (the “Expiration Date”). Before the exercise of this Series B Warrant and as a condition to the exercise of this Series B Warrant, the Series A Warrant issued on even date herewith must be exercised in full. The Company shall give notice to the Holder of a Public Offering at least thirty (30) days prior thereto. In the event of a Public Offering, the Expiration Date of this Warrant shall accelerate and this Warrant shall expire on the Public Offering Date. The Public Offering Date shall mean the date ten calendar days following the date on which the Company’s Registration Statement relating to an Initial Public Offering of the Company’s securities is first filed with the US Securities and Exchange Commission.
