Tranche I Measurement Standard definition

Tranche I Measurement Standard. “Tranche II Measurement Standard” and “Tranche III Measurement Standard” (each, a “Measurement Standard”) shall mean achievement of an average of the per-share closing price of a Share as reported on the principal exchange on which the Shares are listed for trading for any sixty (60) consecutive trading days commencing on or after the 60th trading day prior to the applicable anniversary of the CEO Effective Date on which the Restricted Shares first become Eligible Restricted Shares, and ending not later than the tenth (10th) anniversary of the CEO Effective Date, of (A) $60 as to the Tranche I Performance Restricted Shares, (B) $80 as to the Tranche II Performance Restricted Shares and (C) $100 as to the Tranche III Performance Restricted Shares. Any Restricted Shares that remain unvested on the tenth (10th) anniversary of the CEO Effective Date shall be forfeited and returned to the Company. By way of example, the Tranche I Measurement Standard for the second group of 25,558 Tranche I Performance Restricted Shares is the achievement of an average closing price of a Share of $60 or greater for any consecutive 60-trading day period commencing on or following the 60th trading day prior to the second anniversary of the CEO Effective Date, and ending not later than the 10th anniversary of the CEO Effective Date. In addition, there shall be no proportionate or partial vesting in the periods prior to the applicable stock price thresholds being achieved as provided above, and all vesting shall occur only at such time as the applicable stock price thresholds have been achieved in accordance with the foregoing. In the event of a Change in Capitalization (as defined in the Plan) or an Extraordinary Distribution (as defined in Section 9.2), the foregoing Measurement Standards shall be subject to such equitable adjustments as may be determined by the Committee in accordance with the Plan and in a manner no less favorable to the Participant than those applicable to awards vesting on the basis of the Company’s stock price then held by other Company employees. In addition, there shall be no proportionate or partial vesting in the periods prior to the applicable stock price thresholds being achieved as provided above, and all vesting shall occur only at such time as the applicable stock price thresholds have been achieved in accordance with the foregoing.
Sample 1
Tranche I Measurement Standard. (as defined below) is satisfied on or following the anniversary of the Effective Date on which such Tranche I Performance Restricted Shares first become Eligible Restricted Shares. By way of example, the second group of 16,500 Tranche I Performance Restricted Shares shall vest if and when the Tranche I Measurement Standard is satisfied on or following the second anniversary of the Effective Date.
Sample 1
Tranche I Measurement Standard and “Tranche II Measurement Standard” (each, a “Measurement Standard”) shall mean achievement of an average of the per-share closing price of a Share as reported on the principal exchange on which the Shares are listed for trading for any sixty (60) consecutive trading days commencing on or after the 60th trading day prior to the applicable anniversary of the Effective Date on which the Restricted Shares first become Eligible Restricted Shares, and ending not later than the tenth (10th) anniversary of the Effective Date, of (A) $80 as to the Tranche I Performance Restricted Shares and (B) $100 as to the Tranche II Performance Restricted Shares. Any Restricted Shares that remain unvested on the tenth (10th) anniversary of the Effective Date shall be forfeited and returned to the Company. By way of example, the Tranche I Measurement Standard for the second group of 16,500 Tranche I Performance Restricted Shares is the achievement of an average closing price of a Share of $80 or greater for any consecutive 60-trading day period commencing on or following the 60th trading day prior to the second anniversary of the Effective Date, and ending not later than the 10th anniversary of the Effective Date. In addition, there shall be no proportionate or partial vesting in the periods prior to the applicable Measurement Standards being achieved as provided above, and all vesting shall occur only at such time as the applicable Measurement Standards have been achieved in accordance with the foregoing. In the event of a Change in Capitalization (as defined in the Plan) or an Extraordinary Distribution (as defined in Section 9.2), the foregoing Measurement Standards shall be subject to such equitable adjustments as may be determined by the Committee in accordance with the Plan and in a manner no less favorable to the Participant than those applicable to awards vesting on the basis of the Company's stock price then held by other Company employees.
Sample 1

Examples of Tranche I Measurement Standard in a sentence

  • By way of example, the second group of ________ Tranche I Performance RSUs shall vest if and when the Tranche I Measurement Standard is satisfied on or following the fourth anniversary of the Grant Date and prior to the Vesting Eligibility Expiration Date.

  • But for Section 4(d), Optionee would have already vested in 25% of the Tranche I Performance Options (i.e., as to 11,250 Options) on April 30, 2013 (because the Tranche I Measurement Standard was satisfied and such Options were Eligible Options), and those Options will vest on the Date of Termination.

  • In the event a Change in Control is completed on June 30, 2012 where the Per-Share Consideration is equal to $117.50, each of the then-unvested Tranche I Performance Options, Tranche II Performance Options and Tranche III Performance Options vests and becomes exercisable because the Per-Share Consideration was greater than the Tranche I Measurement Standard, Tranche II Measurement Standard and Tranche III Measurement Standard, but the Tranche IV Performance Options will be canceled and forfeited.

  • But for Section 4(d), Optionee would have already vested in 25% of the Tranche I Performance Options (i.e., as to 11,250 Options) on April 30, 2013 (because the Tranche I Measurement Standard was satisfied and such Options were Eligible Options).

  • By way of example, the second group of 25,558 Tranche I Performance Restricted Shares shall vest if and when the Tranche I Measurement Standard is satisfied on or following the second anniversary of the CEO Effective Date.

  • Tranche I Performance Options will vest and become exercisable if and when the Tranche I Measurement Standard (as defined below) is satisfied on or following the anniversary of the Grant Date on which such Tranche I Performance Options first become Eligible Options, but not later than the sixth anniversary of the Grant Date (the “Vesting Eligibility Expiration Date”).

  • By way of example, the second group of ________ Tranche I Performance Options shall vest and become exercisable if and when the Tranche I Measurement Standard is satisfied on or following the fourth anniversary of the Grant Date and prior to the Vesting Eligibility Expiration Date.

  • In the event a Change in Control is completed on June 30, 2012 where the Per-Share Consideration is equal to $90, each of the then-unvested Tranche I Performance Restricted Shares vests because the Per-Share Consideration was greater than the Tranche I Measurement Standard, but the Tranche II Performance Restricted Shares will be forfeited and returned to the Company.

  • By way of example, the Tranche I Measurement Standard for the second group of ______ Tranche I Performance Options is the achievement of an average closing price of a Share of $289.76 or greater for any consecutive 60-trading day period commencing on or following the 60th trading day prior to the fourth anniversary of the Grant Date, and ending not later than the sixth anniversary of the Grant Date.

  • But for Section 3(d), Participant would have already vested in 25% of the Tranche I Performance Restricted Shares and Tranche II Performance Restricted Shares (i.e., as to 51,116 Restricted Shares) on February 13, 2013 (because the Tranche I Measurement Standard and Tranche II Measurement Standard were satisfied and such Restricted Shares were Eligible Restricted Shares), and those Restricted Shares will vest on the Date of Termination.


More Definitions of Tranche I Measurement Standard

Tranche I Measurement Standard. (as defined below) is satisfied on or following the anniversary of the Effective Date on which such Tranche I Performance Options first become Eligible Options. By way of example, the second group of 11,250 Tranche I Performance Options shall vest and become exercisable if and when the Tranche I Measurement Standard is satisfied on or following the second anniversary of the Effective Date.
Sample 1

Related to Tranche I Measurement Standard

  • Performance Measurement Period has the meaning set forth in Section 3.1(e)(ii).

  • Applicable Measurement Period means the most recently completed four consecutive fiscal quarters of the Issuer immediately preceding the Applicable Calculation Date for which internal financial statements are available.

  • Equity Conditions Measuring Period means each day during the period beginning twenty (20) Trading Days prior to the applicable date of determination and ending on and including the applicable date of determination.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 7.0%.

  • Acceptance Criteria means the Specifications, goals, performance measures, testing results and/or other criteria designated by the Agency and against which the Deliverables may be evaluated for purposes of Acceptance or Non-acceptance thereof.

  • Instantaneous flow measurement means the flow measured during the minimum time required for the flow-measuring device or method to produce a result in that instance. To the extent practical, instantaneous flow measurements coincide with the collection of any grab samples required for the same sampling period so that together the samples and flow are representative of the discharge during that sampling period.

  • Measurement Point means the emission source for which continuous emission measurement systems (CEMS) are used for emission measurement, or the cross-section of a pipeline system for which the CO2 flow is determined using continuous measurement systems;

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such date is equal to or greater than 5.00%.

  • Required Reserve Factor Floor means, for any Calculation Period, the sum (expressed as a percentage) of (a) 28.00% plus (b) the product of the Adjusted Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the immediately preceding Cut-Off Date.

  • Corrective Measure means a measure as defined in Article 3, point 16, of Regulation (EU) 2019/1020;

  • Performance Milestone means an act or event specified in section 5.1 and described in section 9 of the EPLA.

  • Continuous parameter monitoring system or "CPMS" means all of the equipment necessary to meet the data acquisition and availability requirements of this chapter, to monitor process and control device operational parameters (for example, control device secondary voltages and electric currents) and other information (for example, gas flow rate, oxygen or carbon dioxide concentrations), and to record average operational parameter value on a continuous basis.

  • Preventive measures means any reasonable measures taken by any person after an incident has occurred to prevent or minimize pollution damage.

  • Milestone Dates means the dates for completion of specified Project activities as contained in the Project Schedule.

  • ASAM criteria means admission, continued service, transfer, and discharge criteria for the treatment of substance use disorders as published by the American Society of Addiction Medicine (ASAM).

  • 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.

  • Continuous parameter monitoring system (CPMS means all of the equipment necessary to meet the data acquisition and availability requirements of the Prevention of Significant Deterioration program, to monitor process and control device operational parameters (for example, control device secondary voltages and electric currents) and other information (for example, gas flow rate, O2 or CO2 concentrations), and to record average operational parameter value(s) on a continuous basis.

  • Maximum Incremental Facilities Amount means, at any date of determination, (a) the sum of (i) $500,000,000, plus (ii) an amount such that the Borrower is in Pro Forma Compliance with the Senior Secured Leverage Test (for the avoidance of doubt without netting any cash from the proceeds of any Indebtedness being incurred in reliance on such test and, if applicable, assuming the full amount of any New Revolving Credit Commitments are drawn), plus (iii) amounts used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to refinance or replace Revolving Credit Commitments and/or Term Loans (including any fees, accrued interest or other amounts owing in respect thereof), plus (iv) from and after the 2012 Extension Effective Date, the aggregate principal amount of 2014 Term Loans outstanding as of such date of determination, provided that such additional amounts pursuant to this clause (iv) are only available to the extent such amounts are used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to prepay 2014 Term Loans in accordance with Section 5.1 of this Agreement (such prepaid 2014 Term Loans, “Incremental Facility Prepaid 2014 Term Loans”) plus (v) the Dollar Equivalent principal amount of Term Loans (other than New Term Loans, Incremental Facility Prepaid 2014 Term Loans or Term Loans refinanced or replaced pursuant to clause (iii) above) voluntarily prepaid pursuant to Section 5.1 prior to such date, plus (vi) the amount of all Revolving Credit Commitments that have either been permanently reduced pursuant to Section 4.2 or have otherwise terminated in accordance with the terms of this Agreement after the 2012 Extension Effective Date (without duplication of the amounts incurred pursuant to clause (iii) above) minus (b) the sum of (i) the aggregate principal amount of New Loan Commitments incurred pursuant to Section 2.14(a) prior to such date and (ii) the aggregate principal amount of Permitted Other Indebtedness issued or incurred pursuant to Section 10.1(bb)(i)(a) prior to such date.

  • Performance Monitoring System has the meaning given to it in paragraph 1.1.2 in Part B of Schedule 6 (Service Levels, Service Credits and Performance Monitoring);

  • Value Increase shall have the meaning ascribed to it in Section 2.4(d)(i).

  • Monitoring Schedule means the Schedule containing details of the monitoring arrangements.

  • S&P CDO Monitor Test A test that will be satisfied on any date of determination (following receipt, at any time on or after the S&P CDO Monitor Election Date, by the Issuer and the Collateral Administrator of the Class Break-even Default Rates for each S&P CDO Monitor input file (in accordance with the definition of “Class Break-even Default Rate”)) if, after giving effect to a proposed sale or purchase of an additional Collateral Obligation, the Class Default Differential of the Highest Ranking Class of the Proposed Portfolio is positive. The S&P CDO Monitor Test will be considered to be improved if the Class Default Differential of the Proposed Portfolio that is not positive is greater than the corresponding Class Default Differential of the Current Portfolio.

  • Extension Minimum Condition means a condition to consummating any Extension that a minimum amount (to be determined and specified in the relevant Extension Request, in the Borrower’s sole discretion) of any or all applicable Classes be submitted for Extension.

  • Performance Standard means the acceptable range of performance for a Performance Indicator or a Service Volume that results when a Performance Corridor is applied to a Performance Target;

  • Adjusted Total Term Loan Commitment means at any time the Total Term Loan Commitment less the Term Loan Commitments of all Defaulting Lenders.

  • Milestone Events has the meaning set forth in Section 7.2.