Common use of Vesting of Deferred Shares Clause in Contracts

Vesting of Deferred Shares. Upon the sale or other disposition by one or more of the DLJ Investors (other than to an affiliate controlled by DLJ), in one or more transactions, of 75% of the Initial DLJ Equity, if such DLJ Investors shall have achieved the applicable Target Return in cash, promissory notes, freely tradable securities or other readily marketable consideration, then 50% of the Deferred Shares will vest immediately. For each additional one percent of Initial DLJ Equity sold or otherwise disposed of at or above the applicable Target Return, an additional two percent of the Deferred Shares will vest.

Vesting of Deferred Shares. Upon In the event of a Closing and upon the sale or other disposition by one or more of the DLJ Investors (other than to an affiliate controlled by DLJ), in one or more transactions, of 75% of the Initial DLJ Equity, if such DLJ Investors shall have achieved the applicable Target Return in cash, promissory notes, freely tradable securities or other readily marketable consideration, then 50% of the Deferred Shares will vest immediately. For each additional one percent of Initial DLJ Equity sold or otherwise disposed of at or above the applicable Target Return, an additional two percent of the Deferred Shares will vest.