Cancellation Payment definition

Cancellation Payment is defined in Section 20.2.

Cancellation Payment for Vested Options upon exercise of the Call Right shall be equal to the excess of the applicable Repurchase Price over the exercise price of such Vested Options; and the “Cancellation Payment” for all other Employee Options upon exercise of the Call Right shall be zero and such Employee Options will be canceled without payment therefor.

Cancellation Payment has the respective meanings set forth in Section 2(d).

Examples of Cancellation Payment in a sentence

• The Cancellation Payment shall be paid by the Company to the Executive on the Effective Date, or as soon as reasonably practicable thereafter.

• Notwithstanding the foregoing, the Company shall be entitled to withhold from the Optionee the amount of any withholding tax due in connection with such Cancellation Payment.

• Such Funding Cancellation Payment shall be payable by the Funding Swap Counterparty to the Issuer on the applicable Cancellation Date.

• The Optionee hereby agrees to cancel and surrender ------------ all of the Optionee's rights under the Cancelled Options effective on the date of the consummation of the Merger, and the Company hereby agrees to pay to the Optionee on the date of the consummation of the Merger, the Cancellation Payment in the form of the Cash and the Deferred Amount.

• If at any time prior to the last Subsequent Vesting Date, the Termination Event occurs, then any remaining unpaid Cancellation Payment Amounts shall be deemed vested and payable by the Company to Employee no sooner than the First Payment Date and no later than thirty (30) days following the date of the Termination Event.

More Definitions of Cancellation Payment

Cancellation Payment has the meaning ascribed to it in Section 2.5.

Cancellation Payment has the meaning set forth in Section 2(d).

Cancellation Payment shall have the meaning set forth in Article 35.

Cancellation Payment has the meaning set forth in Section 4.07(a).

Cancellation Payment means a payment equal to the number derived by multiplying (A) the average management fee paid during the twelve consecutive (12) months immediately preceding the effective date of such cancellation by (B) a fraction the a numerator of which equals the number of months from the effective date of such cancellation through the second anniversary of the date hereof and (y) a denominator equal to twelve (12). As used herein, the term "MANAGEMENT AGREEMENTS" means, collectively, that certain Property Management Agreement dated as of January __, 1995 between Mountainside Plaza Associates, Limited Partnership and Tower Equities of Arizona, L.L.C. ("TEA") (the "MOUNTAINSIDE AGREEMENT"); that certain Property Management Agreement dated as of May 12, 1995 between Lakeside Plaza Associates, Limited Partnership and TEA (the "LAKESIDE AGREEMENT"); and that certain Property Management Agreement dated as of May 12, 1995 between Warner Ranch Associates, Limited Partnership and TEA (the "WARNER AGREEMENT"). As used herein, the term "UNCURED DEFAULT EVENT" means the occurrence of two Uncured Defaults (as defined below) which occur during any 60-day period provided that the corresponding notices of default are not less than 30 days apart or the occurrence of three Uncured Defaults which occur during any 12 consecutive month period. As used herein, an "UNCURED DEFAULT" means one particular, specifically identified obligation of the manager under the respective Management Agreement that is breached and is not cured within ten days' written notice thereof, provided, however, that such ten-day cure period shall be extended one day for each day of delay attributable to the events described in Section 7(d) of that certain Property Management Agreement dated as of December 10, 1996 between East Broadway 5151 Limited Partnership and TEA. At the Closing, Contributor shall, or shall cause its affiliates to, enter into amended and restated Management Agreements with TEMI that reflect the current terms of such agreements as modified as set forth above.

Cancellation Payment. The purchase price payable by the Vendor for the Affected Royalty (the “Affected Royalty Purchase Price”) shall be the amount of the Royalty Value for the Affected Royalty as shown in Schedule C hereto.

Cancellation Payment means an amount equating to the amount set out in the Payment Cancellation notification.