Common use of Entitlement to Operator Token Right Clause in Contracts

Entitlement to Operator Token Right. 6.1.1. The Company shall procure that the Token Entity grants in accordance with and subject to Section 6.2, to the Operator such number of Operator Tokens that the Operator has become entitled to in accordance with this Section 6.1 (the Operator Token Right). Such Operator Tokens which the Operator has become entitled to are referred to as Vested Operator Tokens. 6.1.2. The Operator shall become eligible for the Operator Token Right upon the Effective Date (Vesting Commencement Date). 6.1.3. Subject to Section 6.1.1 above, on the Vesting Commencement Date and the first day of each subsequent entire calendar month following the Vesting Commencement Date (each such date, a Vesting Date), the Operator shall become entitled to a number of Operator Tokens equal to the number of Prover Nodes subject to this Agreement on such Vesting Date multiplied by 6000 for each GPU node. 6.1.4. The Operator shall not become entitled to any further Operator Tokens after the occurrence of any of the following: (i) the Company giving the Operator written notice to that effect, (ii) this Agreement terminating, (iii) the first Grant Date, or (iv) the Gevulot Firestarter ceasing to be operational (which may be determined by the Company in its sole discretion). In case of item (iv), if the Gevulot Firestarter returns to being operational after such cessation, the Operator shall continue to become entitled to further Operator Tokens in accordance with Section 6.1 such that the first Vesting Date after such cessation is the first day of each subsequent calendar month following the date on which the Gevulot Firestarter returns to being operational.

Entitlement to Operator Token Right. 6.1.17.1.1. The Subject to Section 3.1(b) below, the Company shall procure that the Token Entity grants in accordance with and subject to Section 6.23.2, to the Operator such number of Operator Tokens that the Operator has become entitled to in accordance with this Section 6.1 3.1 (the Operator Token Right). Such Operator Tokens which the Operator has become entitled to are referred to as Vested Operator Tokens. 6.1.27.1.2. The Operator’s eligibility for the Operator Token Right shall be determined as follows: 7.1.2.1. the Operator shall become eligible for the Operator Token Right upon the Effective Date date on which the Operator first fulfills the Hardware Requirements and provides a written report thereof to the Company in accordance with Section 2(c)(i) (the Vesting Commencement Date); and 7.1.2.2. the Company shall continue to be eligible for the Operator Token Right on subsequent Vesting Dates if, on a Vesting Date, the Operator fulfills the relevant Hardware Requirements and has fulfilled the Uptime Requirement during the calendar month preceding such Vesting Date. 6.1.37.1.3. Subject to Section 6.1.1 3.1(b) above, on the Vesting Commencement Date and the first day of each subsequent entire calendar month following the Vesting Commencement Date (each such date, a Vesting Date), the Operator shall become entitled to a number of Operator Tokens equal to the number of Prover Nodes subject to this Agreement on such Vesting Date multiplied by 5000 for each CPU node and 6000 for each GPU node. 6.1.47.1.4. The Operator shall not become entitled to any further Operator Tokens after the occurrence of any of the following: : (i) the Company giving the Operator written notice to that effect, , (ii) this Agreement terminating, (iii) the first Grant Date, or or (iv) the Gevulot Firestarter ceasing to be operational (which may be determined by the Company in its sole discretion). In case of item (iv), if the Gevulot Firestarter returns to being operational after such cessation, the Operator shall continue to become entitled to further Operator Tokens in accordance with Section 6.1 Sections 3.1(a)-(c) such that the first Vesting Date after such cessation is the first day of each subsequent calendar month following the date on which the Gevulot Firestarter returns to being operational.