Tranche 2 Units definition

Tranche 2 Units a number of units equal to $[·] divided by the Fair Market Value per Share on the first date following the end of the Performance Period.
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Tranche 2 Units. The Tranche 2 Units earned under this Agreement (the “Earned Tranche 2 Units”), unless earlier terminated, shall become fully vested, provided the Participant has remained continuously employed by the Company or its subsidiaries through the Performance Period. The number of Earned Tranche 2 Units shall be equal to the Tranche 2 Units (identified in Section 1 above) multiplied by the Tranche 2 Relative Performance Multiplier (as defined herein). The “Tranche 2 Relative Performance Multiplier” will be determined based on the Company’s Adjusted EPS during the Performance Period (determined in the manner set forth below). (i) If the Company’s Average Adjusted EPS Percentage is below 70%, the Tranche 2 Relative Performance Multiplier shall be 0. (ii) If the Company’s Average Adjusted EPS Percentage is equal to 70%, the Tranche 2 Relative Performance Multiplier shall be equal to 0.25. If the Company’s Average Adjusted EPS Percentage is equal to 100%, the Tranche 2 Relative Performance Multiplier shall be equal to 1. If the Company’s Average Adjusted EPS Percentage is between 70% and 100%, the Tranche 2 Relative Performance Multiplier will be determined using a straight line interpolation (between 0.25 and 1). (iii) If the Company’s Average Adjusted EPS Percentage is greater than 120%, the Tranche 2 Relative Performance Multiplier shall be equal to 2. If the Company’s Average Adjusted EPS Percentage is greater than 100% and less than or equal to 120%, the Tranche 2 Relative Performance Multiplier will be determined using a straight line interpolation (between 1 and 2).
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Tranche 2 Units means each of the Tranche 2A Units and Tranche 2B Units;
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Examples of Tranche 2 Units in a sentence

  • Delivery of Shares with respect to any Tranche 1 Units and Tranche 2 Units that become vested hereunder, if any, shall be made by the Company during the calendar year immediately following the end of the Performance Period.

  • The number of Earned Tranche 2 Units shall be equal to the Tranche 2 Units (identified in Section 1 above) multiplied by the Tranche 2 Relative Performance Multiplier (as defined herein).

  • The Tranche 2 Units earned under this Agreement (the “Earned Tranche 2 Units”), unless earlier cancelled and forfeited in accordance with the Plan and this Agreement, shall become fully vested on the Determination Date, provided the Participant has remained continuously employed by the Company or its Affiliates through the first business day following the last day of the Performance Period.

  • For each Calendar Year, a number of Tranche 2 Units shall be earned equal to approximately (i) one third (1/3) of the Tranche 2 Units multiplied by (ii) the applicable “Percentage of Units Earned” as indicated in Table III below based on the achievement during the applicable Calendar Year of the Cash Flow Pre-Financing goal at the threshold, target or maximum levels designated in Table II below.

  • Such costs are allowable only to the extent that they would have been allowable if incurred after the date of the award and only with the written approval of the awarding agency.

  • The Tranche 2 Units earned under this Agreement (the “Earned Tranche 2 Units”), unless earlier terminated, shall becomefully vested, provided the Participant has remained continuously employed by the Company or its subsidiaries through the Performance Period.

  • Foothills Capital Corp., an affiliate of FNW, has legal and beneficial ownership over 1,050,000 Tranche 2 Units.

  • The Corporation shall use reasonable efforts to obtain the requisite shareholder approval and approval of the CSE for the issuance of the Tranche 2 Units prior to the Exclusivity Expiry Date.

  • The Tranche 2 Units earned under this Agreement (the “Earned Tranche 2 Units”), unless earlier terminated, shall becomefully vested, provided the Participant has remained continuously employed by the Company or its subsidiaries through the end of the Performance Period.

  • Also set forth on the Notice is the number of Tranche 1 Units and Tranche 2 Units that may be earned upon achievement of [_____]% of the Grantee’s respective performance targets (the “Tranche 1 Target Units”, the “Tranche 2 Target Units” and collectively the “Target Units”), which Tranche 1 Target Units and Tranche 2 Target Units are equal to [_____]% of the Maximum Achievable Tranche 1 Units and Maximum Achievable Tranche 2 Units, respectively.

Related to Tranche 2 Units

  • Core Units means such Units of the Trust that are issued to Core Investors with the condition that these are not redeemable for a period of two years from the close of the First Offer Period. Such Units are transferable with this condition, but otherwise shall rank pari passu with all other Units, save for this restriction. Any transfer of the Core Units, during the first two years of their issue as mentioned herein, shall be affected only on the receipt by the Registrar of a written acceptance of this condition by the transferee.

  • Tranche 2 means the amount of [**] to be applied in payment of the third pre-delivery instalment due by the Borrower to the Builder under the Building Contract to be advanced by the Lenders on a Drawdown Date by way of their Contributions thereto;

  • Incentive Units means those Partnership Interests described in Section 2 of the Incentive Unit Agreement.

  • Tranche 1 January 1, 2015 through December 31, 2015, which is allotted 25% of the Target Award,

  • Class A Common Units means a Common Unit which is designated as a “Class A Common Unit” and which has the rights, preferences and other privileges designated in Annex A hereto and elsewhere in this Agreement in respect of holders of Common Units.

  • Class B Units means the Class B Units of the Company.

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.

  • Vested Units means those Units listed as vested Units in the books and records of the Partnership, as the same may be amended from time to time in accordance with this Agreement.

  • Class C Units The term "Class C Units" shall have the meaning set forth in the preface.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Unvested Units means those Units listed as unvested Units in the books and records of the Partnership, as the same may be amended from time to time in accordance with this Agreement.

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • Class B Warrants means, collectively, the Common Stock purchase warrants in the form of Exhibit C attached hereto delivered to the Purchasers at the Closing in accordance with Section 2.2(a) hereof, which warrants shall be exercisable immediately and have a term of exercise equal to one year.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Over-Allotment Units means the additional number of Private Units the Sponsor will be required to purchase in the event that the underwriters in the Company’s initial public offering exercise their over-allotment option, as described in the prospectus relating to the Company’s initial public offering.

  • Class A Common Shares means class A common shares of a nominal or par value of US$0.00001 each in the capital of the Company having the rights provided for in the Memorandum and Articles of Association, and any shares into which such class A common shares may be converted.

  • Vesting Percentage means the percentage by which the Target Total Award is multiplied as set forth in the chart in Section II below.

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

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Common Units is defined in the Partnership Agreement.

  • Restricted Units has the meaning set forth in the recitals to this Award Agreement.

  • Initial Units means, with respect to any Initial Limited Partner, the aggregate number of Class A Units owned by such Initial Limited Partner as of the date of this Agreement.

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Section 5.3.

  • Class B Common Shares means the Class B Convertible Voting Common Shares of the Company, par value $1.00 per share.

  • Initial Common Units means the Common Units sold in the Initial Offering.

  • Class D Units has the meaning ascribed to such term in the LLC Agreement.