Forfeiture Amount definition

Forfeiture Amount. As a result of SCB’s conduct set forth in the 2012 Factual Statement attached as Exhibit A and count one of the Superseding Information, the parties agreed on December 10, 2012 that the Offices could institute a civil and/or criminal forfeiture action against certain funds held by SCB and that such funds would be forfeitable pursuant to Title 18, United States Code, Sections 981 and 982. SCB acknowledged that at least $227,000,000 was involved in transactions described in the 2012 Factual Statement, and that such conduct violated IEEPA. In lieu of a criminal prosecution and related forfeiture, SCB agreed to pay to the United States the sum of $227,000,000 (the “2012 Forfeiture Amount”) as substitute res for the purpose of forfeiture to the United States pursuant to Title 18, United States Code, Sections 981 and 982, and SCB released any and all claims it may have had to such funds. SCB’s obligations with respect to the 2012 Forfeiture Amount have been fully satisfied as of the execution of this Agreement.
Sample 1Sample 2Sample 3
Forfeiture Amount has the meaning given such expression in Section 4.4(d);
Sample 1Sample 2Sample 3
Forfeiture Amount shall have the meaning as attributed to the said term in Clause 6.5 hereof.
Sample 1

Examples of Forfeiture Amount in a sentence

  • Notwithstanding the foregoing provisions, the Committee has sole and absolute discretion not to require a Participant to pay the Forfeiture Amount, and its determination not to require any Participant to pay the Forfeiture Amount with respect to any particular act by any particular Participant shall not in any way reduce or eliminate the Committee’s authority to require payment of the Forfeiture Amount with respect to any other act or other Participant.

  • After any Member's Benefit has been paid (Clause 2) or his Deferred Benefit has been set aside (Clause 3), the relevant Forfeiture Amount may in accordance with Clause 13.4 be offset against future Contributions, Transferred to the remaining Members' Scheme Accounts if allowed by the Scheme rules or refunded to the Employer.

  • Forfeiture Amount shall mean the portion of a Participant’s Account that is not part of the Participant’s vested Accrued Benefit upon the Participant’s termination of service, determined in accordance with Section 7.2.

  • The HSBC Parties shall pay the Forfeiture Amount plus any associated transfer fees within five (5) business days of the date on which this Agreement is signed, pursuant to payment instructions as directed by the Department in its sole discretion.

  • Except as otherwise set forth herein, the Escrow Agent shall hold the shares remaining after any cancellation required pursuant to Section 3.1. Effective immediately prior to the consummation of the transactions contemplated by the BCA (as defined below), Sponsor shall forfeit and surrender the Shares Forfeiture Amount, the Escrow Agent shall release such forfeited shares of Common Stock to the Company for cancellation.

  • Notwithstanding the foregoing provisions, the Committee has sole and absolute discretion not to require payment of a Forfeiture Amount or to require payment of an amount that is less than the maximum Forfeiture Amount described in Section 3.1.

  • For the sum of $25,000 (the “Purchase Price”), which the Company acknowledges receiving in cash, the Company hereby issues the Shares to the Subscriber, and the Subscriber hereby purchases the Shares from the Company, subject to the Forfeiture Amount, on the terms and subject to the conditions set forth in this Agreement.

  • In each case, any Forfeiture Amount shall be paid by the Executive Officer within sixty (60) days of receipt from the Corporation of written notice requiring payment of such Forfeiture Amount.

  • The Company waives all notice relating to any seizure or forfeiture of the Additional Forfeiture Amount.

  • Grantee shall pay MTC any Forfeiture Amount within thirty days of Grantee’s receipt of written notification from MTC, provided that any Forfeiture Amount due hereunder on account of the number of Actual Job Years created within the first two (2) annual anniversaries of the Effective Date shall be deferred and paid upon the first day of the third (3rd) year after the Effective Date and in no case shall the total Forfeiture Amount exceed $10 million less any previously earned amounts.


More Definitions of Forfeiture Amount

Forfeiture Amount means the amount of Covered Incentive-Based Compensation subject to clawback or recovery under this Policy.
Sample 1
Forfeiture Amount means an amount determined by the Committee in its sole and absolute discretion, up to the sum of:
Sample 1Sample 2
Forfeiture Amount shall equal thirty million dollars ($30,000,000); provided, however, that, on each of the first five (5) annual anniversaries of the Closing Date, the Forfeiture Amount shall be reduced by six million dollars ($6,000,000) until the Forfeiture Amount equals zero ($0) on the fifth (5th) anniversary of the Closing Date; provided, however, in the event Executive is terminated pursuant to (x) Section 6(b) prior to the fifth (5th) anniversary of the Closing Date, the Forfeiture Amount shall equal zero ($0) on the date of such termination or (y) Section 6(d) prior to the fifth (5th) anniversary of the Closing Date, subject to the Release becoming effective and Executive’s continued compliance with Section 5, 7, 8, 9 and 10 of this Agreement, the Forfeiture Amount shall equal zero (0) on the last day of the Covenant Period. Executive may satisfy such transfer requirement by paying to the Company an amount in cash equal to the Forfeiture Amount, determined as of the last day of the month immediately preceding the date on which Executive breaches Sections 7 or 10 or materially breaches Sections 5, 8 or 9 of this Agreement or his employment terminates under Section 6(c), as applicable. For purposes of the foregoing, in order for Executive to be found to be in breach of Sections 7 or 10 of this Agreement or in material breach of Sections 5, 8 or 9 of this Agreement, in each case, prior to his termination of employment for any reason (other than in respect of an alleged material breach of Section 5 which shall remain subject to cure following a termination of employment), the Company must first notify Executive in writing, specifying the event alleged to constitute such breach or material breach, as applicable, within ninety (90) days after the Company first becomes aware of the occurrence of the event the Company believes constitutes a breach or material breach. Executive will have a period of thirty (30) days after the receipt of such notice in which to cure any acts constituting such breach or material breach, except for a material breach which, by its nature, cannot reasonably be expected to be cured (provided that any alleged breach of Section 5 shall be deemed capable of being cured). If the Company is required to provide notice because such breach is prior to termination of employment and the breach or material breach is cured within this period, Executive will be deemed to be in compliance with Sections 5, 7, 8, 9 or 10 of this Agreement, as applicable.
Sample 1
Forfeiture Amount has the meaning set forth in Section 5(b)(v).
Sample 1
Forfeiture Amount means the sum to be returned to the Company by the Eligible Executive, as provided in Section 2.2, upon a breach of a Covenant Agreement or by reference to a clawback provision, in each case measured by the Cash Severance previously paid to the Eligible Executive, net of any amounts withheld in respect of federal or state taxes.
Sample 1
Forfeiture Amount means, with respect to each Executive who is employed by one or more of the Companies immediately after the Closing but is not employed by one or more of the Companies on January 1, 2006, the result obtained when (i) the quotient obtained when the number of calendar days during the Earnout Period that such Executive was employed by one or more of the Companies is divided by the total number of calendar days in the Earnout Period is multiplied by (ii) the amount obtained when the number of Restricted Shares that such Executive would have been awarded by GPEG pursuant to the applicable Restricted Stock Award Agreement if such Executive had been employed by one or more of the Companies on the Award Date (as defined in the applicable Restricted Stock Award Agreement) is divided by the Exchange Rate; provided, however, that the Forfeiture Amount shall be deemed to be zero dollars ($0) with respect to any Executive who does not execute a Restricted Stock Award Agreement.
Sample 1

Related to Forfeiture Amount

  • Forfeiture Period means the period from the Grant Date until the Forfeiture Date.

  • Maximum Share Amount shall have the meaning set forth in Section 2.01(c).

  • Deferred Amount With respect to any Distribution Date and each Class of the Subordinate Certificates, the amount by which (x) the aggregate of Applied Loss Amounts previously applied in reduction of the Class Principal Amount thereof exceeds (y) the sum of (1) the aggregate of amounts previously reimbursed in respect thereof and (2) the amount by which the Class Principal Amount of such Class has been increased due to any Subsequent Recovery.

  • Award Value means the value, in dollars, of an award made to a Participant and as stated in the applicable Award Agreement, which is provided under the Plan in the form of PSUs or RSUs, as the case may be.

  • Maximum Basic Grant Amount’ has the same meaning as set out in item 1 of Schedule 1 of HESA; ‘National Law’ means (a) for a state or territory other than Western Australia – the Health Practitioner Regulation National Law as set out in the Schedule to the Health Practitioner Regulation National Law Act 2009 (Qld) as it applies (with or without modification) as a law of the State or Territory; and (b) for Western Australia – the legislation enacted by the Health Regulation National Law (WA) Xxx 0000 that corresponds to the Health Practitioner Regulation National Law;

  • Grant Amount or “Grant” means the total amount of financial assistance disbursed under this Agreement, which consists of the City's Amount and the Consultant’s Amount.

  • Retention Amount means, in relation to any Retention Date, such sum as shall be the aggregate of:

  • Recapture Amount means, with respect to any Employment Violation by Grantee, the gross gain realized or unrealized by Grantee upon all vesting of Restricted Share Units or delivery or transfer of Vested Shares during the Look-back Period with respect to such Employment Violation, which gain shall be calculated as the sum of:

  • Company Contribution Amount means, for any one Plan Year, the amount determined in accordance with Section 3.5.

  • Forfeiture Event means the occurrence of at least one of the following (a) the Company is required, pursuant to a determination made by the Securities and Exchange Commission or by the Board, or an authorized subcommittee of the Board, to prepare a material accounting restatement due to the noncompliance of the Company with any financial reporting requirement under applicable securities laws as a result of misconduct, and the Board determines that (1) the Participant knowingly engaged in the misconduct, (2) the Participant was grossly negligent with respect to such misconduct or (3) the Participant knowingly or grossly negligently failed to prevent the misconduct or (b) the Board concludes that the Participant engaged in fraud, embezzlement or other similar misconduct materially detrimental to the Company.

  • Unvested LTIP Units has the meaning provided in Section 4.4(d) hereof.

  • True-Up Amount means the difference between the ABO calculated by using the member’s actual creditable service and the actual final average compensation as of the member’s effective date in the FRS Investment Plan and the ABO initially transferred.

  • Tax Limitation Amount means the maximum amount which may be placed as the Appraised Value on the Applicant’s Qualified Property for maintenance and operations tax assessment in each Tax Year of the Tax Limitation Period of this Agreement pursuant to Section 313.054 of the TEXAS TAX CODE.

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Maximum Contribution Amount shall equal the excess of (i) the aggregate proceeds received by such Holder pursuant to the sale of such Registrable Notes or Exchange Notes over (ii) the aggregate amount of damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(d) are several in proportion to the respective principal amount of the Registrable Securities held by each Holder hereunder and not joint. The Company’s and Subsidiary Guarantors’ obligations to contribute pursuant to this Section 8(d) are joint and several. The indemnity and contribution agreements contained in this Section 8 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties.

  • Cash Amount means an amount of cash per Partnership Unit equal to the value of one share of Common Stock as determined under the applicable Exchange Rights Agreement on the Valuation Date of the Common Stock Amount.

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • Bonus Amount means the greater of (i) the average annual incentive bonus earned by Executive from the Company (or its affiliates) during the last three (3) completed fiscal years of the Company immediately preceding Executive’s Date of Termination (annualized in the event Executive was not employed by the Company (or its affiliates) for the whole of any such fiscal year), and (ii) the Executive’s target annual incentive bonus for the year in which the Date of Termination occurs.

  • Vested LTIP Units has the meaning provided in Section 4.4(d) hereof.

  • Reinvestment Deferred Amount means, with respect to any Reinvestment Event, the aggregate Net Cash Proceeds received by the Borrower or any of its Subsidiaries in connection therewith that are not applied to prepay the Loans pursuant to Section 2.09(b) as a result of the delivery of a Reinvestment Notice.

  • Performance Liquidated Damages means any liquidated damages resulting from the Project’s performance which are required to be paid by the EPC Contractor or any other Material Project Party for or on account of any diminution to the performance of the Project.

  • Unvested Company Option means any Company Option that is not a Vested Company Option.

  • Average final compensation means the average annual creditable compensation of a member during

  • Severance Amount means:

  • Deferred Stock Account means a bookkeeping account maintained by the Company for a Participant representing the Participant's interest in the shares credited to such Deferred Stock Account pursuant to Paragraph 7 hereof.

  • Target Bonus Amount means Executive’s target annual bonus amount in effect at the time of Executive’s Qualifying Termination (disregarding any decrease in such target annual bonus amount that constitutes a Good Reason event).