Irrevocability of Election Sample Clauses
The "Irrevocability of Election" clause establishes that once a party makes a specific choice or election under the contract, that decision cannot be changed or withdrawn. In practice, this means that if a party selects a particular remedy, option, or course of action—such as exercising a right to terminate or choosing a method of dispute resolution—they are bound by that choice for the duration of the agreement. This clause ensures certainty and finality in contractual decisions, preventing parties from reversing their positions and thereby reducing the risk of disputes or strategic manipulation.
Irrevocability of Election. This Restricted Stock Unit Election will become irrevocable as of the commencement of the Election Period.
Irrevocability of Election. Any election by a Bondowner to exercise the option to have its Bond or Bonds purchased, or any election by a Bondowner to retain its Bond or Bonds upon any mandatory Tender Date, shall be irrevocable upon delivery to the Tender Agent of the Notice of Election to Tender Bonds (together with, if required at the time of delivery of such notice, the Tendered Bonds) or of the Notice of Election to Retain Bonds, as the case may be. If any Owner of Bonds falls to deliver the Bonds described in such Owner's Notice of Election to Tender Bonds, such Bonds shall be converted to Undelivered Bonds. Replacement Bonds shall be executed, authenticated and delivered in place of such Undelivered Bonds as provided in the Indenture and such replacement Bonds may be offered and sold by the Remarketing Agent in accordance with the Indenture and Remarketing Agreement if the credit enhancement requirements of the Indenture are met. Purchase of Tendered Bonds. Tendered Bonds shall be purchased from the Owners thereof on the Tender Date at the Tender Price which shall be payable solely from the following sources in the order of priority listed: (1) proceeds of the remarketing of such Tendered Bonds pursuant to the Remarketing Agreement and the Indenture which constitute Available Moneys; and (2) proceeds of a payment under the Credit Facility to purchase such Tendered Bonds. Notwithstanding any provision of the Indenture to the contrary, there shall be no purchases (other than a mandatory tender on the Termination Date or a mandatory purchase on the Mandatory Purchase Date) or sales of Bonds pursuant to the provisions of the Indenture relating to the tender of Bonds if there shall have occurred and be continuing certain Events of Default under the Indenture. ===================================================================== (FORM OF ASSIGNMENT FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto _______ ________________________________________________________________________________ (Please Print or Typewrite Name, Address and Social Security Number or Taxpayer Identification Number of Transferee) the within Bond and all rights therein, and hereby irrevocably constitutes and appoints _____________________ Attorney to transfer the within Bond on the books kept for registration thereof, with full power of substitution in the premises. Dated: _____________ _________________________________________ NOTICE: The signature to this Assignment must correspond with...
Irrevocability of Election. An election (or deemed election) to defer Fees for a calendar year becomes irrevocable at the end of the December 31st preceding the calendar year in which such Fees are earned. However, any election to defer Fees will prospectively terminate if the Director receives a distribution on account of an “unforeseeable emergency” under Section 4.3 of this Agreement. If the Director’s election to defer Fees so terminates, any subsequent election to defer Fees must comply with Section 2.1.
Irrevocability of Election. This Election will become irrevocable after it has been submitted to the Company’s Chief Financial Officer.
Irrevocability of Election. The foregoing election is made by me with knowledge that this specific election is irrevocable with respect to each calendar year unless a new Deferral Election Form is subsequently executed and delivered to you on or before the last day of the preceding calendar year.
Irrevocability of Election. This Election will become irrevocable as of the date it is executed.