Standard NBA Contract Conversion Option definition

Standard NBA Contract Conversion Option means an option in a Two-Way Contract in favor of a Team to convert the Contract to a Standard NBA Contract that provides for a Salary for each Salary Cap Year equal to the player’s applicable Minimum Player Salary and a term equal to the remainder of the original term of the Two-Way Contract, in accordance with Article II, Section 11(g).
Sample 1Sample 2Sample 3
Standard NBA Contract Conversion Option. Team shall have the option to convert this Contract to a Standard NBA Contract (“Standard NBA Contract Conversion Option”). Team’s Standard NBA Contract Conversion Option may be exercised by providing written notice to Player that is either personally delivered to Player or his representative or sent by email or pre-paid certified, registered, or overnight mail to the last known address of Player or his representative with a copy to the Players Association and the NBA. If Team exercises the Standard NBA Contract Conversion Option, the Base Compensation amount set forth above in this Exhibit 1B will immediately become null and void and of no further force or effect, Player’s Compensation shall be equal to the Player’s applicable Minimum Player Salary for a term equal to the remainder of the original term of this Contract beginning on the date such option is exercised, and all other terms and conditions of this Contract, including the Base Compensation protection set forth in Exhibit 2 (if any), shall remain applicable. Initialed: Player Team Player: Team: Date: UNIFORM PLAYER CONTRACT Exhibit 2 — Compensation Protection Additional Season Type of Protection Amount of Protection Conditions or Limitations Automatic Stretch Provision: In the event that the Team terminates this Contract (resulting in the Player’s separation of service from the Team), and the Team is obligated thereafter to make payments to the Player pursuant to this Exhibit 2, such payments shall be made in accordance with the following schedule:
Sample 1

Examples of Standard NBA Contract Conversion Option in a sentence

  • The Standard NBA Contract Conversion Option may be exercised at any point during the period beginning on July 1 and ending just prior to the start of the Team’s last Regular Season game in each Salary Cap Year covered by the Two-Way Contract.

  • Team’s Standard NBA Contract Conversion Option may be exercised by providing written notice to Player that is either personally delivered to Player or his representative or sent by email or pre-paid certified, registered, or overnight mail to the last known address of Player or his representative with a copy to the Players Association and the NBA.

  • For the day the Standard NBA Contract Conversion Option is exercised, the player shall be compensated only under the new Standard NBA Contract, and not under his Two-Way Contract.

Related to Standard NBA Contract Conversion Option

  • Conversion Option means the Company’s option to convert some or all of the Series D Preferred Stock into that number of shares of Common Stock that are issuable at the then-applicable conversion rate as described in Section 8(c) of these Articles Supplementary.

  • Optional Conversion means the conversion of any Convertible Preferred Stock other than a Mandatory Conversion.

  • Notice of Conversion/Extension means the written notice of conversion of a LIBOR Rate Loan to an Alternate Base Rate Loan or an Alternate Base Rate Loan to a LIBOR Rate Loan, or extension of a LIBOR Rate Loan, in each case substantially in the form of Exhibit 1.1(f).

  • Notice of Extension/Conversion means the written notice of extension or conversion in substantially the form of Exhibit 3.2, as required by Section 3.2.

  • Forced Conversion Notice Date shall have the meaning set forth in Section 6(d).

  • Major conversion means a conversion of an existing ship:

  • Optional Conversion Date means, with respect to the Optional Conversion of any Convertible Preferred Stock, the first Business Day on which the requirements set forth in Section 10(d)(ii) for such conversion are satisfied.

  • Forced Conversion Notice has the meaning set forth in Section 4.05(c) hereof.

  • Forced Conversion has the meaning set forth in Section 4.05(c) hereof.

  • Optional Extended Local Calling Scope Arrangement Traffic is traffic that under an optional Extended Local Calling Scope Arrangement chosen by the Customer terminates outside of the Customer’s basic exchange serving area.

  • Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.

  • Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

  • Mandatory Conversion Notice has the meaning set forth in Section 4.7.C hereof.

  • Forced Conversion Date shall have the meaning set forth in Section 6(d).

  • Warrant Exercise Period shall commence (subject to Section 6(d) below), on the later of:

  • Early Termination Schedule is defined in Section 4.2 of this Agreement.

  • Conversion Plan shall have the meaning given to such term in Section 2.05 of this Agreement.

  • Final Conversion Date means 5:00 p.m. in New York City, New York on the earlier to occur following the IPO of (i) the first Trading Day falling on or after the date on which the outstanding shares of Class B Common Stock represent less than ten percent (10%) of the aggregate number of shares of the then outstanding Class A Common Stock and Class B Common Stock, (ii) the tenth (10th) anniversary of the IPO or (iii) the date specified by affirmative vote of the holders of a majority of the outstanding shares of Class B Common Stock, voting as a single class.

  • Conversion therapy means any practice or treatment as defined in § 54.1-2409.5 A of the Code of Virginia.

  • Judgment Conversion Date as defined in subsection 10.8(a).

  • Initial Warrant Exercise Date means __________, 1997.

  • Exercise Notice Deadline In respect of any exercise of Options hereunder on any Conversion Date, the “Scheduled Trading Day” prior to the scheduled first “VWAP Trading Day” of the “Observation Period” (each as defined in the Indenture, but, in the case of any such Observation Period, as modified by the provision set forth opposite the caption “Convertible Security Settlement Method”) relating to the Convertible Securities converted on the Conversion Date occurring on the relevant Exercise Date; provided that in the case of any exercise of Options hereunder in connection with the conversion of any Relevant Convertible Securities on any Conversion Date occurring during the period starting on and including June 4, 2020 and ending on and including the second “Scheduled Trading Day” immediately preceding the “Maturity Date” (each as defined in the Indenture) (the “Final Conversion Period”), the Exercise Notice Deadline shall be noon, New York City time, on the “Scheduled Trading Day” (as defined in the Indenture) immediately preceding the “Maturity Date” (as defined in the Indenture).

  • Conversion Schedule means the Conversion Schedule in the form of Schedule 1 attached hereto.

  • Continuation/Conversion Notice means a notice of continuation or conversion and certificate duly executed by an Authorized Officer of the Borrower, substantially in the form of Exhibit C hereto.

  • Automatic Conversion means the irrevocable and automatic release of all of the Company’s obligations under the Securities (other than the CSO Obligations, if any) in consideration of the Company’s issuance of the Conversion Shares at the Conversion Price to the Conversion Shares Depository (on behalf of the Holders and Beneficial Owners of the Securities) or to the relevant recipient of such Conversion Shares, all in accordance with the terms of the Securities.