No Proportionate or Partial Vesting Clause Samples

The "No Proportionate or Partial Vesting" clause establishes that vesting of rights, such as equity or benefits, will only occur in full and not in incremental or partial amounts. In practice, this means that if a vesting condition is not completely satisfied—such as an employee not reaching a full vesting milestone—no partial vesting will be granted for time or performance short of the full requirement. This clause ensures clarity and prevents disputes by making it clear that only complete fulfillment of vesting conditions results in any entitlement, thereby eliminating ambiguity over partial or pro-rata awards.
No Proportionate or Partial Vesting. There shall be no proportionate or partial vesting of the Options between the vesting dates set forth in subparagraph 7(a) above.
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No Proportionate or Partial Vesting. Except as set forth in Section 2(c), there shall be no proportionate or partial vesting in the periods prior to the vesting date and all vesting shall occur only on the vesting date; provided that no Termination of Employment has occurred prior to such date.
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Related to No Proportionate or Partial Vesting

  • Non-Participation in Insurance Your initials on this clause of the Agreement acknowledges the Patient’s understanding that neither the CLINIC, nor its Physician, participate in any health insurance or HMO plans or panels and cannot accept Medicare eligible patients. We make no representations that any fees that You pay under this Agreement are covered by your health insurance or other third party payment plans. It is the Patient’s responsibility to determine whether reimbursement is available from a private, non-governmental insurance plan and to submit any required billing. (Initial)

  • Tenant’s Proportionate Share (Section 4.4.3.1): 6.27 percent (6.27%). Such share is a fraction, the numerator of which is the rentable square feet of the Premises, and the denominator of which is the rentable square feet of the Building, as determined by Landlord from time to time on a consistent basis.

  • Proportionate Leave on Termination Where an employee has given five working days or more continuous service, inclusive of any day off as prescribed by clauses 27 or 30 of this award (excluding overtime), and either leaves employment or the employee’s employment is terminated by the employer the employee shall be paid one-twelfth of an ordinary week’s wages in respect of each completed five working days of continuous service with the current employer for which leave has not been granted or paid for in accordance with this award.

  • ADJUSTMENT OF THE DISTRIBUTOR’S ALLOCABLE PORTION AND EACH SUCCESSOR DISTRIBUTOR’S ALLOCABLE PORTION The parties to the Distribution Agreement recognize that, if the terms of any distributor’s contract, any distribution plan, any prospectus, the FINRA Conduct Rules or any other applicable law change so as to disproportionately reduce, in a manner inconsistent with the intent of this Distribution Agreement, the amount of the Distributor’s Allocable Portion or any Successor Distributor’s Allocable Portion had no such change occurred, the definitions of the Distributor’s Allocable Portion and/or the Successor Distributor’s Allocable Portion in respect of the Class C shares relating to a Fund shall be adjusted by agreement among the relevant parties; provided, however, if the Distributor, the Successor Distributor and the Fund cannot agree within thirty (30) days after the date of any such change in applicable laws or in any distributor’s contract, distribution plan, prospectus or the FINRA Conduct Rules, they shall submit the question to arbitration in accordance with the commercial arbitration rules of the American Arbitration Association and the decision reached by the arbitrator shall be final and binding on each of them. The following relates solely to Class 529-C shares. The Distributor’s Allocable Portion of Distribution Fees and CDSCs in respect of Class 529-C shares shall be 100% until such time as the Distributor shall cease to serve as exclusive distributor of Class 529-C shares; thereafter, collections that constitute CDSCs and Distribution Fees relating to Class 529-C shares shall be allocated among the Distributor and any successor distributor (“Successor Distributor”) in accordance with this Schedule. At such time as the Distributor’s Allocable Portion of the Distribution Fees equals zero, the Successor Distributor shall become the Distributor for purposes of this Allocation Schedule. Defined terms used in this Schedule and not otherwise defined herein shall have the meanings assigned to them in the Principal Underwriting Agreement (the “Distribution Agreement”), of which this Schedule is a part. As used herein the following terms shall have the meanings indicated:

  • Sublease Limitation For so long as Landlord or any Affiliate as to Landlord shall seek to qualify as a real estate investment trust, anything contained in this Agreement to the contrary notwithstanding, Tenant shall not sublet the Leased Property on any basis such that the rental to be paid by any sublessee thereunder would be based, in whole or in part, on either (a) the income or profits derived by the business activities of such sublessee, or (b) any other formula such that any portion of such sublease rental would fail to qualify as "rents from real property" within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.