Common use of Issuance Schedule Clause in Contracts

Issuance Schedule. Shares in which the Grantee vests in accordance with the Section 3 will become issuable on the later of (i) the Vesting Date and (ii) the Repayment Date (as defined below), determined in accordance with the TARP Regulations, pursuant to which: (i) 25% of the vested Restricted Stock Units shall become issuable on the date as of which 25% of the TARP Funds have been repaid to Treasury; (ii) an additional 25% of the vested Restricted Units shall become issuable on the date as of which 50% of the TARP Funds have been repaid to Treasury; (iii) an additional 25% of the vested Restricted Units shall become issuable on the date as of which 75% of the TARP Funds have been repaid to Treasury; and (iv) the remaining vested Restricted Units shall become issuable on the date as of which 100% of the TARP Funds have been repaid to Treasury. Each date specified in (i) through (iv) as of which the specified percentage of TARP Funds have been repaid shall be referred to herein as a “Repayment Date”. The Grantee need not be employed by the Company on a Repayment Date to receive shares with respect to vested Restricted Units. The actual issuance of the shares of Company Stock shall be effected on the applicable Vesting Date or Repayment Date, or as soon as administratively practicable thereafter. In no event shall such issuance occur later than the later of (i) the end of the short term deferral period identified in Treas. Reg. 1.409A-1(b)(4) and (ii) the first date on which the issuance is permissible under the TARP Regulations and the applicable terms of the letter agreement dated November 14, 2008 between the Company and the Treasury.

Issuance Schedule. Shares with respect to the Restricted Stock Units in which the Grantee vests in accordance with the Section 3 will become issuable on the later of (ia) the Vesting Date and (iib) the Repayment Date (as defined below), determined in accordance with the TARP Regulations, pursuant to which: (i) Shares with respect to 25% of the vested Restricted Stock Units shall become issuable on the date as of which 25% of the TARP Funds have been repaid to Treasury; (ii) Shares with respect to an additional 25% of the vested Restricted Stock Units shall become issuable on the date as of which 50% of the TARP Funds have been repaid to Treasury; (iii) Shares with respect to an additional 25% of the vested Restricted Stock Units shall become issuable on the date as of which 75% of the TARP Funds have been repaid to Treasury; and (iv) Shares with respect to the remaining vested Restricted Stock Units shall become issuable on the date as of which 100% of the TARP Funds have been repaid to Treasury. Each date specified in (i) through (iv) as of which the specified percentage of TARP Funds have been repaid shall be referred to herein as a “Repayment Date”. .” The Grantee need not be employed by the Company on a Repayment Date to receive shares with respect to vested Restricted Stock Units. The actual issuance of the shares of Company Stock shall be effected on the applicable Vesting Date or Repayment Date, or as soon as administratively practicable thereafter. In no event shall such issuance occur later than the later of (iA) the end of the short term deferral period identified in Treas. Reg. 1.409A-1(b)(4) and (iiB) the first date on which the issuance is permissible under the TARP Regulations and the applicable terms of the letter agreement dated November 14, 2008 between the Company and the Treasury.