Initial Measurement Date definition
Examples of Initial Measurement Date in a sentence
If the Closing Trade Price on the six (6) month anniversary of the Execution Date is less than the Closing Trade Price on the Initial Measurement Date and the Effectiveness Notice Date has not yet occurred, then the Company, following a written request from the Investor, will issue additional Commitment Shares to the Investor equal to the difference between the number of Commitment Shares calculated as of the two (2) dates.
With respect to each of the Tranches, the measurement to determine subsequent vesting will be performed on each anniversary of such Initial Measurement Date until the occurrence of the earlier of (i) 100% vesting of the Tranche, (ii) termination of Executive’s employment for any reason, or (iii) September 20, 2014.
In consideration for the Investor’s execution and delivery of, and performance under this Agreement, the Company shall cause the Transfer Agent to issue the Commitment Shares to the Investor on the Trading Day immediately following the Initial Measurement Date.
If the Initial Measurement Price with respect to a Tranche is less than $18.71, on each anniversary of such Initial Measurement Date (each a “Subsequent Measurement Date”), subject to Section 4.3.3 below, the Company will again determine whether additional shares in the Tranche will vest.