Missed Year definition

Missed Year means a Fiscal Year in which the Company's EBITDA is less than 100% of the EBITDA Target for such Fiscal Year.
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Missed Year has the meaning given in Section 2(b)(ii).
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Missed Year means a Fiscal Year in which the Company's actual performance measured as the ratio of Net Debt to EBITDA is less than 100% of the Performance Target for such Fiscal Year.
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Examples of Missed Year in a sentence

  • If a performance target is not achieved in any year (a "Missed Year"), but the aggregate of such performance target is achieved with respect to the Missed Year and the following year (an "Excess Year"), 100% of the Performance Options with respect to such performance target that did not vest in the Missed Year shall vest.

  • If the Company's EBITDA for a Fiscal Year is less than 100% of the Target for such Fiscal Year (a "Missed Year"), such Performance Options shall become exercisable with respect to a portion of the shares subject to Performance Options in an amount equal to the product of (a) 20% of the total number of shares subject to Executive's Performance Options multiplied by (b) the Applicable Percentage (as set forth in Schedule B attached hereto).

  • In the event of the termination of a Senior Manager's employment by the Company without Cause or by a Senior Manager for Good Reason, the Senior Managers shall become vested in any Performance Options as to which the performance targets are achieved for the year of termination, or for a Missed Year due to performance for the year of termination.

  • This vesting method is hereby referred to as the “Missed Year Catch-up Vesting.” See Appendix I for examples of the Primary Vesting Method, Secondary Vesting Method and the Missed Year Catch-up Vesting.

  • If the sum of the Actual EBITDA for any Missed Year, when supplemented with amounts allocated to the Missed Year from the Excess Account equals or exceeds the applicable Performance Target for such Missed Year, then the EBITDA Performance Option shall vest and become exercisable with respect to the Shares subject to the EBITDA Performance Option in respect of such Missed Year and the amounts so allocated to the Missed Year from the Excess Account shall be debited from the Excess Account.

  • If there is more than one Net Debt Goal Missed Year, cumulative Net Debt Goal make-up opportunities will first be applied with respect to the immediately preceding Net Debt Goal Missed Year.

  • Following an IPO with respect to the Company’s equity securities or a Change in Control, the Performance Targets for any Missed Year shall no longer be achievable and the Performance-Based Phantom Units that did not become vested in a Missed Year and are Unvested Phantom Units immediately prior to the IPO or Change in Control shall be forfeited.

  • If the Target EBITDA is not met in a given Fiscal Year (each such year, a “Missed Year”), the unvested portion of the Ordinary Performance Units eligible to vest in the Missed Year (the “Missed Units”) will remain eligible to vest in one or more subsequent Fiscal Years, as described in this Section (2)(b)(i)(D).

  • Notwithstanding the foregoing, if the fiscal year ending December 31, 2009 is a Missed Year, no more than $20 million may be credited from an Excess Account for such fiscal year.

  • If, in any Plan Year subsequent to a Missed Year, EBITDA exceeds the EBITDA Target for such Plan Year AND Cumulative EBITDA as of the last day of such Plan Year exceeds the Cumulative EBITDA Target through such date, then any prior percentage of Performance Options in respect of prior Missed Years shall become exercisable (but only to the extent such Option has not otherwise terminated).

Related to Missed Year

  • Reviewed Year has the meaning ascribed to said phrase under Section 6225(d)(1) of the Code.

  • Payment Year means the calendar year during which the applicable Initial Year Payments or Annual Payments are due pursuant to subsection V.B. Payment Year 1 is 2022, Payment Year 2 is 2023 and so forth. References to payment “for a Payment Year” mean the Initial Year Payments or Annual Payment due during that year. References to eligibility “for a Payment Year” mean eligibility in connection with the Initial Year Payments or Annual Payment due during that year.

  • Relevant Year t means the Financial Year for the purposes of which any calculation falls to be made; "Relevant Year t-1" means the Financial Year preceding Relevant Year t, and similar expressions shall be construed accordingly;

  • One-hundred-year flood means a flood having a one per cent chance of being equaled or exceeded in any given year.

  • relevant year means a year commencing at 00:00 hours on 1 April and ending at 23:59 hours on the following 31 March;