Grant of Put Rights Clause Samples

A Grant of Put Rights clause gives one party, typically an investor or minority shareholder, the contractual right to require another party, such as the company or majority shareholders, to purchase their shares at a predetermined price or according to a specified formula. This right is usually exercisable during certain periods or upon the occurrence of specific events, such as a change of control or failure to achieve agreed milestones. The core function of this clause is to provide an exit mechanism and financial protection for the holder, ensuring they can liquidate their investment under defined circumstances.
Grant of Put Rights. (A) In consideration of, among other things, the Lender’s and the Agent’s execution and delivery of this Agreement and the Additional Borrowing, in the event the Companies have not satisfied in full all of their respective obligations under the Transaction Documents pursuant to the terms and conditions thereof (including, without limitation, the indefeasible payment in full in cash of all principal, interest, fees and any other amounts due under the Amended SPA, the Revolving Note and the Term Note) on or before the Maturity Date of the Revolving Note, the Lender shall have the full, unfettered and unrestricted right (collectively, the “Put Rights”), but not the obligation, by delivery of a written notice to the Parent (the “Put Notice”) at any time to cause the Parent to purchase, and the Parent shall purchase, up to that number of shares of Common Stock held by the Lender as set forth in the Put Notice (the “Put Securities”), at a price equal to $0.35 per share (the “Per Share Put Price”). (B) The number of Put Securities to be purchased by the Parent as set forth in the applicable Put Notice multiplied by the Per Share Put Price (as adjusted pursuant to Section 4(g)(i)(C) hereof) is hereinafter referred to as the “Aggregate Put Price”. The Put Rights granted hereby may be exercised as to all or any portion of the shares of Common Stock held by the Lender. The Put Rights may be exercised more than once. (C) In the event of changes in the outstanding Common Stock of the Parent by reason of stock dividends, split-ups, recapitalizations, reclassifications, combinations or exchanges of shares, separations, reorganizations, liquidations, mergers or other similar events, the Per Share Put Price shall be correspondingly adjusted to give the Lender, upon exercise of the Put Rights granted hereunder, the same aggregate payment as the Lender would have been entitled to receive had such Put Rights been exercised immediately prior to such event.
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Grant of Put Rights. The Company hereby grants to each holder of Put Securities the right and option (as to each such holder, its "PUT RIGHT" and, as to all such holders collectively, the "PUT RIGHTS"), to require the Company to purchase all or any portion of the Put Securities held by such holder upon the exercise by such holder of its Put Right in accordance with the provisions of this Agreement.
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Grant of Put Rights 
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Related to Grant of Put Rights

  • Grant of PSUs For valuable consideration, receipt of which is hereby acknowledged, Hovnanian Enterprises, Inc., a Delaware Corporation (the "Company"), hereby grants the target number (“Target Number”) of performance share units ("PSUs") listed above to the Participant, on the terms and conditions hereinafter set forth. This grant is made pursuant to the terms and conditions of the 2020 Company Second Amended and Restated Stock Incentive Plan (the "Plan"), which Plan, as amended from time to time, is incorporated herein by reference and made a part of this Agreement. The actual number of PSUs, if any, that the Participant will be eligible to earn with respect to this Agreement (the “Earned PSUs”), subject to meeting the applicable service and performance vesting requirements, will equal the Target Number multiplied by the applicable “Performance Multiplier” as defined in Exhibit A hereto. Each Earned PSU represents the unfunded, unsecured right of the Participant to receive a Share on the date(s) specified herein. Capitalized terms not otherwise defined herein shall have the same meanings as in the Plan.

  • Grant of Shares The Grant Date and number of Shares underlying your Restricted Stock Award are stated on page 1 of this Award Agreement. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the 2008 Plan.

  • Grant of Power (a) Each Partner by its signature below irrevocably makes, constitutes and appoints each General Partner its true and lawful attorney in its name, place and stead in any capacities, with the power from time to time to substitute or resubstitute one or more others as such attorney, and to make, execute, swear to, acknowledge, verify, deliver, file, record and publish any and all documents, certificates or other instruments which may be required or deemed desirable by the General Partners to (i) effectuate the provisions of any part of this Agreement or any amendments to this Agreement, (ii) enable the Partnership to conduct its business, (iii) comply with any applicable law in connection with the Partnership’s conduct of its business, or (iv) retain professional services, including accounting and legal counsel, for the Partnership (including, without limitation, the waiver on behalf of the Partnership and each Partner of any conflict arising from such professional’s representation of another client on matters in which the interests of the Partnership, any Partner or any affiliate of the Partnership or any Partner may be adverse to such other client). (b) If the Partnership owns Class A Shares or Class B Shares, then each Partner by its signature below irrevocably makes, constitutes and appoints each of ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇., ▇▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, each then serving director of ▇▇▇▇▇▇ Management, Inc., a Delaware corporation, or its successor in interest, and the then serving general counsel of each Company, its true and lawful attorney in its name, place and stead in any capacities, with the power from time to time to substitute or resubstitute one or more others as such attorney, to execute any and all statements under Section 13 or Section 16 of the Securities Exchange Act of 1934, and the rules and regulations promulgated thereunder, of beneficial ownership of Class A Shares and Class B Shares by the Partnership and its Partners, including all statements on Schedule 13D and all amendments thereto, all joint filing agreements pursuant to Rule 13d-1(k)(1) under such Act in connection with such statements, all initial statements of and changes of beneficial ownership on Forms 3, 4 and 5 and any and all other documents to be filed with the Securities and Exchange Commission, and to file the same, with all exhibits thereto, and all other documents in connection therewith, with the Securities and Exchange Commission. (c) Each Partner grants to said attorney or attorneys-in-fact, and each of them, full power and authority to do so and to perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said attorney or attorneys-in-fact or any of them or their substitutes or resubstitutes, may lawfully do or cause to be done by virtue of this Section 11.1.

  • Grant of Rights The Company hereby grants registration rights to the Designated Holders upon the terms and conditions set forth in this Agreement.

  • Grant of Stock Options This non-qualified Stock Option is granted under and pursuant to the Plan and is subject to each and all of the provisions thereof.