Common use of Liquidity Events Clause in Contracts

Liquidity Events. (a) Upon the consummation of a Liquidity Event (as defined below), a portion of the then-unvested Options shall become Vested Options concurrently with the consummation of such event, such that the total percentage of Options that have become Vested Options immediately after the consummation of such Liquidity Event shall, after taking into account any Options that had become Vested Options prior to such Liquidity Event, be equal to the Liquidated Percentage (as defined below). Following the acceleration of a portion of the then-unvested Options upon the consummation of a Liquidity Event pursuant to this Section 5(a), the vesting schedule of the Options that remain unvested Options immediately following such Liquidity Event shall be modified such that such remaining unvested Options are scheduled to vest in equal installments on each of the Vesting Dates occurring subsequent to such Liquidity Event (subject to the vesting conditions set forth in Section 3).

Liquidity Events. (a) Upon the consummation of a Liquidity Event (as defined below), a portion of the then-unvested Options Option shall become a Vested Options Option concurrently with the consummation of such event, such that the total percentage of Options Option that have has become a Vested Options Option immediately after the consummation of such Liquidity Event shall, after taking into account any Options portion of the Option that had become a Vested Options Option prior to such Liquidity Event, be equal to the Liquidated Percentage (as defined below). Following the acceleration of a portion of the then-unvested Options Option upon the consummation of a Liquidity Event pursuant to this Section 5(a), the vesting schedule of the Options Option that remain remains an unvested Options Option immediately following such Liquidity Event shall be modified such that such remaining unvested Options are portion of the Option is scheduled to vest in equal installments on each of the Vesting Dates occurring subsequent to such Liquidity Event (subject to the vesting conditions set forth in Section 3).