Exercise of the Purchase Option Clause Samples
The "Exercise of the Purchase Option" clause defines the process by which a party, typically a lessee or option holder, can formally elect to purchase an asset or property as outlined in an agreement. This clause usually specifies the required notice period, the method for providing notice, and any conditions that must be met before the option can be exercised, such as payment of a predetermined price or fulfillment of contractual obligations. Its core practical function is to provide a clear and structured mechanism for converting an option into an actual purchase, thereby reducing uncertainty and ensuring both parties understand the steps and requirements involved.
Exercise of the Purchase Option. Provided that (a) to the extent necessary, any applicable waiting periods (and any extension thereof) under the HSR Act with respect to the exercise of the Purchase Option shall have expired or been terminated and (b) no preliminary or permanent injunction or other order, decree or ruling issued by any Governmental Authority prohibiting the exercise of the Purchase Option or the delivery of Stockholder's Equity shall be in effect, Parent or Purchaser may exercise the Purchase Option at any time during the Option Period with respect to all of the Stockholder's Equity. To exercise the Purchase Option, Parent or Purchaser shall give written notice (the date of such notice being herein called the "Notice Date") to Stockholder specifying a place and date (not later than ten Business Days and not earlier than two Business Days following the Notice Date) for closing such purchase (the "Closing"). Subject to the delivery by Stockholder of the documents described in Section 1.04(b), the Closing of the Purchase Option shall occur as promptly as practicable following the Notice Date; provided that if the conditions set forth in clause (a) or (b) of the first sentence of this Section 1.02 have not been satisfied, Parent or Purchaser may extend the date for the Closing (the "Purchase Option Closing Date") as necessary for the satisfaction of the conditions set forth in clause (a) or (b) of the first sentence of this Section 1.02 up to but not exceeding the date that is 180 days following the Notice Date, after which all rights of Parent and Purchaser to acquire the Stockholder's Equity in accordance with this Section 1.02 shall terminate.
Exercise of the Purchase Option. 1.1. Party E hereby authorizes Party C in accordance with the purchase option granted to Party C under Article 2.1 of the Purchase Option Agreement, and Party C agrees to accept the aforesaid authorization, on behalf of Party E, to purchase entire shares in Party D holding by Party A in accordance with the conditions stipulated in the Purchase Option Agreement.
1.2. In accordance with Article 3 under the Purchase Option Agreement, the purchase price of entire shares in Party D holding by Party A, purchased by Party C in accordance with Party E’s authorization, shall be the sum of the loan principal lent by Party E to Party A, which is equivalent to RMB 550,000. (“Purchase Price”).
Exercise of the Purchase Option. 1.1. Party F hereby authorizes Party C and Party D in accordance with the purchase option granted to Party C and Party D under Article 2.1 of the Purchase Option Agreement, and Party C and Party D agrees to accept the aforesaid authorization, on behalf of Party F, to purchase entire shares in Party E holding by Party A and Party B in accordance with the conditions stipulated in the Purchase Option Agreement.
1.2. In accordance with Article 3 under the Purchase Option Agreement, the purchase price of entire shares in Party E holding by Party A and Party B, purchased by Party C and Party D in accordance with Party F’s authorization, shall be the sum of the loan principal lent by Party F to Party A and Party B, which is equivalent to RMB 1,000,000. (“Purchase Price”).
Exercise of the Purchase Option. (a) Subject to the conditions set forth in Section 3.3, the Purchase Option may be exercised in whole at any time, and in part from time to time, from and after the Offer Termination Date and ending as of the Termination Date; provided, however, that in the event Purchaser exercises its Purchase Option hereunder it shall exercise its Purchase Option in a proportionate amount under that certain Shareholder Agreement with Yoss▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇ even date herewith entered into in connection with the Tender Agreement.
(b) In the event Purchaser wishes to exercise the Purchase Option, Purchaser will send a written notice to Shareholder Group specifying a place, date (not less than two business days nor more than 10 calendar days after the date such notice is given) and time for the closing of the purchase of such Shares (the "Closing").
(c) The purchase price payable to Shareholder Group with respect to any exercise of the Purchase Option will be the product of (i) the Per Share Amount and (ii) the number of Applicable Shares to be purchased upon such exercise.
Exercise of the Purchase Option. 3.1 The Purchase Option shall only be exercisable on any Business Day falling during the period from and including 27 November 2009 until and including the Longstop Date.
3.2 In order to exercise the Purchase Option, CEDC shall notify the Holdcos, in writing, of its exercise of the Purchase Option (the “Exercise Notice”). The service of the Exercise Notice, and thus the exercise of the Purchase Option, shall be irrevocable.
3.3 If the Exercise Notice is validly served, CEDC and the Holdcos shall be obliged to complete the sale and purchase of the Option Shares and delivery of the Warrants (“Completion”).
3.4 Completion shall be on such date as CEDC may in its discretion decide and shall notify the Holdcos in the Exercise Notice, provided that in all cases following service of the Exercise Notice, Completion will occur:
3.4.1 on a Business Day;
3.4.2 not less than one Business Day following service of the Exercise Notice (unless CEDC and the Holdcos otherwise agree in writing); and
3.4.3 not later than 23 December 2009, provided that Completion shall not occur unless completion of the Coinvestor Option Agreement shall have occurred in accordance with its terms. The Parties acknowledge that completion of the Coinvestor Option Agreement may take place on the same date as Completion.
Exercise of the Purchase Option. (a) Subject to the conditions set forth in Section 3.3, the Purchase Option may be exercised in whole at any time, and in part from time to time, from and after the Offer Termination Date and ending as of the Termination Date; provided, however, that in the event Purchaser exercises its Purchase Option hereunder it shall exercise its Purchase Option in a proportionate amount under that certain Shareholder Agreement with Einav Computer Systems Ltd., Roni ▇. ▇▇▇▇▇ ▇▇▇ Dali▇ ▇▇▇▇▇▇▇▇-▇▇▇▇▇▇▇ ▇▇ even date herewith entered into in connection with the Tender Agreement.
(b) In the event Purchaser wishes to exercise the Purchase Option, Purchaser will send a written notice to Shareholder specifying a place, date (not less than two business days nor more than 10 calendar days after the date such notice is given) and time for the closing of the purchase of such Shares (the "Closing").
(c) The purchase price payable to Shareholder with respect to any exercise of the Purchase Option will be the product of (i) the Per Share Amount and (ii) the number of Applicable Shares to be purchased upon such exercise.
Exercise of the Purchase Option. 3.1 The Purchase Option shall only be exercisable on a Business Day falling during the period from and including 27 November 2009 until and including the Longstop Date (the “Exercise Period”).
3.2 In order to exercise the Purchase Option, Cayman 7 shall notify Cayman 4, in writing, of its exercise of the Purchase Option (an “Exercise Notice”). The service of the Exercise Notice, and thus the exercise of the Purchase Option, shall be irrevocable.
3.3 If an Exercise Notice is validly served, Cayman 4 and Cayman 7 shall be obliged to complete the sale and purchase of the Option Shares and delivery of the Warrants (“Completion”). Completion shall be on such date as CEDC and Cayman 4 may between them agree, provided that following service of an Exercise Notice CEDC and Cayman 4 will use their reasonable endeavours to cause Completion to occur as promptly as possible, and that Completion will occur:
3.3.1 on a Business Day; and
3.3.2 not later than 23 December 2009.
Exercise of the Purchase Option. 1.1. In accordance with Article 3 under the Purchase Option Agreement, the purchase price of entire shares in Party C holding by Party A shall be the sum of the loan principal lent by Party B to Party A, which is equivalent to RMB 21,567,873.7 (“Purchase Price”).
Exercise of the Purchase Option. On the terms and subject to the conditions set forth herein, the Seller agrees to sell to the Purchaser, and the Purchaser agrees to purchase from the Seller, the Option Shares (as Specified in Schedule 1) for the aggregate price of ¥50,000,000.
Exercise of the Purchase Option. Upon Execution of the Purchase Option, the Option Holder will deliver payment in the amount of six-hundred-thousand and no/100 Dollars ($600,000.00). This amount is the total consideration to be paid for the purchase of the Securities, and is to be referred to in this Agreement as the "Purchase Price".