Deficit

Deficit. For each Applicable Class in respect of an Option means (i) in connection with a Redemption Event and subsequent Sale of the Company, the positive excess, if any, of (a) the product of the Spread Value Per Share paid in such Redemption Event multiplied by the Event Unvested Number, over (b) the Supplemental Redemption Payment, calculated in each case in respect of the Applicable Class, and (ii) in connection with a Dividend Event and subsequent Sale of the Company (the "Dividend Deficit"), the... product of (a) the Event Unvested Number, multiplied by (b) the positive excess, if any, of (i) the Spread Value Per Share paid in such Dividend Event over (ii) the Catch-up Dividend Payment Per Share, if any, calculated in each case in respect of the Applicable Class. View More