Banked Unit definition

Banked Unit means a PSU that has been tentatively credited for the Grantee’s benefit based on the Grantee’s service through a specified date and the satisfaction of applicable performance conditions as provided below, provided however, that a Banked Unit will not represent a vested PSU except to the extent provided in Section 4. Shares associated with vested PSUs shall only become deliverable, in accordance with Section 5.
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Banked Unit means a Unit that has been tentatively credited for the Participant’s benefit based on the Participant’s service through a specified date and the satisfaction of applicable performance conditions as provided in this Section 2, or under the provisions of Section 8(b)(i) or 8(b)(ii) relating to additional Banked Units; provided, however, that a Banked Unit is not vested except to the extent provided in Section 3. Banked Units shall vest, and Shares associated with Banked Units shall become deliverable, exclusively in accordance with Section 3.
Sample 1
Banked Unit means a Unit that has been tentatively credited for the Participant’s benefit based on the Participant’s service through a specified date and the satisfaction of applicable performance conditions as provided in 1 Insert name of participant. 2 Insert date of committee action to approve the grant.
Sample 1

Examples of Banked Unit in a sentence

  • Statutory requirements state that a student in a home based education program must be registered with the school district of participation a minimum of 14 days prior to being considered a home schooled student.

  • Notwithstanding Section 7(b)(ii)(A) and Section 7(b)(ii)(B), upon a cessation of the Participant’s employment with the Company or any of its Affiliates, the Company shall not make any dividend equivalent payments with respect to any Banked Unit that has not become vested on or prior to the effective date of such cessation or with respect to any Banked Unit that does not specifically remain outstanding pursuant to Section 3(b), 3(c), or 3(d).

  • For purposes of this Agreement, the term “Banked Unit” means a Unit that has been tentatively credited for the Participant’s benefit based on the Participant’s service through a specified date and the satisfaction of applicable performance conditions as provided in this Section 2, or under the provisions of Section 7(b)(i) relating to additional Banked Units, provided, however, that a Banked Unit is not vested except to the extent provided in Section 3.

  • In addition, eight statements related specifically to the current research were added, focusing on the attitude of the subjects toward changing the homework policy, either by reducing homework or creating alternatives (for example, the item: “Reducing and eliminating homework is an essential step”).

  • Notwithstanding Section 8(b)(iii)(A) and Section 8(b)(iii)(B), upon a cessation of the Participant’s employment with the Company or any of its Affiliates, the Company shall not make any further dividend equivalent payments with respect to any Banked Unit that has not become vested on or prior to the effective date of such cessation or with respect to any Banked Unit that does not specifically remain outstanding pursuant to Section 3(b), 3(c) or 3(d).

  • Notwithstanding Section 7(b)(v)(A) and Section 7(b)(v)(B), upon a cessation of the Participant’s employment with the Company or any of its Affiliates, the Company shall not make any further dividend equivalent payments with respect to any Banked Unit that has not become vested on or prior to the effective date of such cessation or with respect to any Banked Unit that does not specifically remain outstanding pursuant to Section 3(b), 3(c), or 3(d).

Related to Banked Unit

  • Designated Unit means information technology devices (e.g. hard disks or central processing units) identified by Licensee pursuant to this Agreement that have been officially made known to the public as appropriate for Use or interoperation with the Software.

  • Dividend Equivalent Unit means the right to receive a payment, in cash or Shares, equal to the cash dividends or other cash distributions paid with respect to a Share.

  • Said Unit means the said Flat, the said Vehicle Parking Space, (if any), and the right of common use of the Common Portions and wherever the context so intends or permits, shall also include the Said Undivided Share.

  • Stock Unit means a bookkeeping entry representing the equivalent of one Share, as awarded under the Plan.

  • Restricted Unit means a Unit granted under the Plan that is subject to a Restricted Period.

  • Assisted Unit means a Unit that is subject to the Program’s rent and/or occupancy restrictions as a result of the financial assistance provided by the Program, as specified in the Regulatory Agreement.

  • Phantom Unit means a notional Unit granted under the Plan which upon vesting entitles the Participant to receive, at the time of settlement, a Unit or an amount of cash equal to the Fair Market Value of a Unit, as determined by the Committee in its sole discretion.

  • Share Unit means either an RSU or a PSU, as the context requires.

  • FTPS Unit means Units which are purchased through the Fund/SERV(R) trading system or on a manual basis through FTP Services LLC or for which FTP Services LLC is acting as FTPS Unit Servicing Agent.

  • Phantom Share means a right, pursuant to the Plan, of the Grantee to payment of the Phantom Share Value.

  • Subordinated Unit means a Limited Partner Interest having the rights and obligations specified with respect to Subordinated Units in this Agreement. The term “Subordinated Unit” does not include a Common Unit. A Subordinated Unit that is convertible into a Common Unit shall not constitute a Common Unit until such conversion occurs.

  • Deferred Share Unit or “DSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 7;

  • Dividend Equivalent means a right to receive the equivalent value (in cash or Shares) of dividends paid on Shares, awarded under Section 9.2.

  • Performance Share means an Award denominated in Shares which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine pursuant to Section 10.

  • Dividend Equivalents means a right granted to a Participant under the Plan to receive the equivalent value (in cash or Shares) of dividends paid on Shares.

  • Phantom Stock Unit means the right to receive the value of one (1) share of the Company’s Common Stock, subject to the provisions of Section 8.4 of the Plan.

  • Deferred Share means a Share which by its terms of issue is a deferred share as defined in the Statutes and includes a permanent interest bearing share and a Core Capital Deferred Share;

  • Performance Share Unit or “PSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 6;

  • Phantom Stock means a right granted to an Eligible Individual under Section 12 representing a number of hypothetical Shares.

  • Common Unit means a common unit representing a limited partner interest in the Partnership having the rights set forth in the Partnership Agreement.

  • Affected unit means a department, shift, or other organizational unit of 2 or more employees that is designated by an employer to participate in a shared-work plan.

  • Phantom means a volume of material behaving in a manner similar to tissue with respect to the attenuation and scattering of radiation. This requires that both the atomic number (Z) and the density of the material be similar to that of tissue.

  • Performance Unit means an Award which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or a combination of the foregoing pursuant to Section 10.

  • Time-share unit means a condominium unit in which a time-share estate or a time-share license exists.

  • Moderate-income unit means a restricted unit that is affordable to a moderate-income household.

  • Dividend Equivalent Right means an Award entitling the grantee to receive credits based on cash dividends that would have been paid on the shares of Stock specified in the Dividend Equivalent Right (or other award to which it relates) if such shares had been issued to and held by the grantee.