Missed Year definition

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 EBITDA is less than 100% of the EBITDA Target for such Fiscal Year.
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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 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).

  • 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.

  • 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.

  • If Annual EBITDA for a fiscal year is less than the Annual EBITDA Target for such fiscal year (a “Missed Year”), but in any subsequent fiscal year, the Cumulative EBITDA for such subsequent fiscal year is equal to, or in excess of, the Cumulative EBITDA Target for such subsequent fiscal year, all Annual Performance Vested Options in respect of each prior Missed Year shall vest and become exercisable as of the Committee Verification Date.

  • 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 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, 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).

  • 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.

  • If EBITDA for a Plan Year is less than 100% of the EBITDA Target for such Plan Year or Cumulative EBITDA is less than the Cumulative EBITDA Target as of the last day of such Plan Year (a "Missed Year"), no portion of the Performance Option shall become exercisable pursuant to this subsection 3.1(b) on the Determination Date for such Plan Year.

  • 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).

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;

  • EBITDA Target means the Company's projected earnings before interest, taxes, one-time transition expenses, non-cash compensation expense charges, depreciation and amortization, as contained in the Company's budget for the Applicable Period and which is approved by the Board (without reference to any adjustments or revision, upwards or downwards, to such projected earnings which are subsequently approved by the Board as part of any subsequent revision to such budget), and (ii) the term "Financial Results" shall mean the Company's EBITDA calculated by reference to the Company's financial statements for the Applicable Period as filed with the Securities and Exchange Commission (the "SEC").

  • Grant Year has the same meaning as in subclause 1(1) of Schedule 1 of HESA;

  • First Year means the intake group of Students for the most junior class or year in a school.

  • Income year means any year or accounting period beginning 1 July of one calendar year and ending 30 June of the following calendar year or any other period that the Trustees by resolution adopt;

  • M5 Target Amount With respect to any Distribution Date an amount equal to the lesser of (a) the product of (i) 93.30% and (ii) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (1) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the related Collection Period exceeds (2) the Overcollateralization Floor.

  • M3 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 85.50% and (ii) the Pool Balance for such Distribution Date and (b) the amount, if any, by which (i) the Pool Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Balance.

  • Agreement Year means such period as the parties may from time to time determine; provided the first Agreement Year under this Agreement shall be the period from January 1, 2005 through December 31, 2005.

  • Performance Year means the calendar year prior to the year in which an Annual Award is made by the Committee.

  • M2 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 87.00% and (ii) the Pool Balance for such Distribution Date and (b) the amount, if any, by which (i) the Pool Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Balance.

  • Measurement Period shall have the meaning specified in Section 14.01(b)(i).

  • M1 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 70.00% and (ii) the Pool Balance for such Distribution Date and (b) the amount, if any, by which (i) the Pool Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Balance.

  • Leave Year means the year ending with the anniversary date of the employee’s appointment.

  • completed year of service means continuous service of specified duration under the university and includes periods of absence from duty as well as leave including extraordinary leave.

  • Target EBITDA means, for each fiscal year, the EBITDA set forth in the operating budget of the Company, as approved by the Board, for the particular year.

  • Adjustment Year has the meaning ascribed to said phrase under Section 6225(d)(2) of the Code.

  • M4 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 95.30% and (ii) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (i) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the related Collection Period exceeds (ii) 0.50% of the Cut-off Date Balance.

  • Overcollateralization Target Amount means 0.85% of the Adjusted Pool Balance as of the Cutoff Date.

  • Quarterly Period means each period of three (3) consecutive months ending on March 31, June 30, September 30, and December 31.

  • Remaining Amortization Period means, at any point in time, the number of consecutive calendar months equal to the number of months in the Amortization Period minus the number of scheduled monthly installments of principal and interest that have elapsed since the date of this Note.

  • Assessment year means the period of twelve months commencing on the 1st day of April every year;

  • Measurement Date has the meaning set forth in Section 3.3(a).