Forfeiture Event

Forfeiture Event. Means the occurrence of at least one of the following (a) the Company is required, pursuant to a determination made by the Securities and Exchange Commission or by the Board, or any authorized subcommittee of the Board, to prepare a material accounting restatement due to the noncompliance of the Company with any financial reporting requirement under applicable securities laws as a result of misconduct, and the Board determines that (1) the Participant knowingly engaged in the misconduct, (2)... the Participant was grossly negligent with respect to such misconduct or (3) the Participant knowingly or grossly negligently failed to prevent the misconduct or (b) the Board concludes that the Participant engaged in fraud, embezzlement or other similar misconduct materially detrimental to the Company. View More

Forfeiture Event. Means the occurrence of either (i) a Separation From Service for Cause, or (ii) a Separation From Service initiated by Executive without Good Reason. [FOR STRAUSS: "GOOD REASON" MEANS A TERMINATION INITIATED BY EXECUTIVE UNDER CIRCUMSTANCES WHICH QUALIFY AS A "TERMINATION WITHOUT CAUSE" PURSUANT TO THE LAST TWO SENTENCES OF SECTION 5(C) OF THE EMPLOYMENT AGREEMENT.] [FOR WIJNPERLE: "GOOD REASON" HAS THE MEANING GIVEN TO SUCH TERM IN THE EMPLOYMENT AGREEMENT.]

Forfeiture Event. (i) the termination of the Advisory Agreement by the Company for Cause (as defined in the Advisory Agreement), (ii) Michael L. Ashner's resignation as the Chief Executive Officer and director of the Company and the Advisor, or (iii) the death or disability of Michael L. Ashner unless the other members of the Advisor's senior management at such time remain in such positions.

Forfeiture Event. A Termination of Employment for any reason other than death or Retirement, regardless of whether such Termination of Employment is voluntary or involuntary