Common use of Scheduled Settlement Date Clause in Contracts

Scheduled Settlement Date. Subject to Section 6, each Vested Unit will be settled by the delivery of one (1) share of Stock to the Director (or in the event of the Director’s death, to the Director’s estate or designated beneficiary) within seventy-five (75) days following the third anniversary of the Grant Date, and in no event shall settlement occur after March 15th of the year following the year in which the Vesting Date occurs.

Scheduled Settlement Date. Subject to Section 6, each Vested Unit will be settled by the delivery of one (1) share of Stock to the Director (or in the event of the Director’s death, to the Director’s estate or designated beneficiary) within seventy-five (75) days following the third first anniversary of the Grant Date, and in no event shall settlement occur after March 15th of the year following the year in which the Vesting Date occurs.