Payment of Option Consideration Sample Clauses
The Payment of Option Consideration clause defines the obligation of one party to pay a specified amount in exchange for obtaining an option right, such as the right to purchase property or enter into a contract at a later date. Typically, this clause outlines the amount, timing, and method of payment, and may specify whether the consideration is refundable or credited toward a future purchase price. Its core function is to formalize the financial commitment required to secure the option, ensuring both parties are clear on the terms and reducing the risk of disputes over payment.
Payment of Option Consideration. Immediately prior to the Effective Time, CBI, subject to a review of the calculation by NewAlliance, shall issue and deliver a check representing the Option Price to the holders of the Options, all of which Options shall have been cancelled in connection with Section 3.1.4 above.
Payment of Option Consideration. Promptly following (but in no event less than two Business Days after) the Effective Time, Parent shall deposit, or cause to be deposited with the Surviving Corporation cash in an aggregate amount, together with any cash in the Company’s bank accounts immediately prior to the Closing, equal to the aggregate Option Consideration payable to all Optionholders pursuant to Section 3.01(d). The Option Consideration shall be paid by the Company through its payroll system (to the extent practicable), or if not practicable checks for such payment shall be drawn by the Surviving Corporation and sent by overnight courier to the holder’s last address on the Company’s records, in each case, as soon as reasonably practicable after the Effective Time.
Payment of Option Consideration. At the Closing, the Buyer shall pay (or cause to be paid), by wire transfer of immediately available funds to an account of the Company in trust for the benefit of the Optionholders as specified in the Consideration Disbursement Schedule, in consideration for the cancellation of all Options outstanding immediately prior to the Interim Effective Time, an amount in cash equal to the amount calculated pursuant to Section 2.4(a) (and as indicated on the Consideration Disbursement Schedule). No later than three Business Days following the earlier of (i) for each Optionholder who has delivered to the Buyer his or her executed Acknowledgment and Release prior to the Closing, the Closing Date and (ii) for each Optionholder who delivers to the Buyer his or her executed Acknowledgment and Release after the Closing, the date on which the Buyer receives an executed Acknowledgment and Release, the Company shall pay (or cause to be paid) to the Optionholders through the Company’s payroll system the amount payable to them pursuant to Section 2.4(a) (and as indicated on the Consideration Disbursement Schedule).
Payment of Option Consideration. Within five (5) business days after the Effective Time, NEWCO shall take all steps necessary to cause the Exchange Agent to issue and deliver a check representing the Option Price to the holders of the Options who are deemed not to have elected to receive the Per Share Merger Consideration, all of which Options shall have been cancelled in connection with the Merger Agreement.
Payment of Option Consideration. Three (3) days after the expiration of the Due Diligence Period, if BUYER elects to proceed, then BUYER shall pay to SELLER the Option Consideration, and the Option Consideration shall then be non-refundable, except in the event of default by SELLER.
Payment of Option Consideration. As promptly as practicable after the Effective Time, but in no event later than ten (10) days after the Closing Date, Buyer shall pay to the record holder of any Mercer Stock Options who is an employee or former employee of Mercer or any Mercer Subsidiary an amount equal to the Option Consideration to which such holder of Mercer Stock Options is entitled under Section 2.6(c). Provided that if funds are deposited by Buyer with ▇▇▇▇▇▇’▇ payroll provider, such payment shall be made by ▇▇▇▇▇▇ pursuant to its payroll process. With respect to any Mercer Stock Options held by any Person who is not an employee or former employee of Mercer or any Mercer Subsidiary, as promptly as practicable after the Effective Time, but in no event later than ten (10) days after the Closing Date, Buyer or the Exchange Agent shall send, by United States first class mail a check for the Option Consideration to which such holder of ▇▇▇▇▇▇ Stock Options is entitled under Section 2.6(c).
Payment of Option Consideration. As promptly as practicable after the Effective Time, but in no event later than ten (10) days after the Closing Date, Buyer shall pay to the record holder of any ▇▇▇▇▇▇ Stock Options who is an employee or former employee of ▇▇▇▇▇▇ or any ▇▇▇▇▇▇ Subsidiary an amount equal to the Option Consideration to which such holder of ▇▇▇▇▇▇ Stock Options is entitled under Section 2.6(c). Provided that if funds are deposited by Buyer with ▇▇▇▇▇▇’▇ payroll provider, such payment shall be made by ▇▇▇▇▇▇ pursuant to its payroll process. With respect to any ▇▇▇▇▇▇ Stock Options held by any Person who is not an employee or former employee of ▇▇▇▇▇▇ or any ▇▇▇▇▇▇ Subsidiary, as promptly as practicable after the Effective Time, but in no event later than ten (10) days after the Closing Date, Buyer or the Exchange Agent shall send, by United States first class mail a check for the Option Consideration to which such holder of ▇▇▇▇▇▇ Stock Options is entitled under Section 2.6(c).
Payment of Option Consideration. As promptly as practicable following the Closing (or, in the case of any Option holder who is not also a Seller, promptly following the later of the Closing and the receipt from such Option holder of an Option Cancellation Agreement, and subject to such receipt), the Buyer shall cause the Company to pay to such Option holder, by wire transfer of immediately available funds to an account designated by such Option holder at least two Business Days prior to such payment (or, if no such account is so designated, by bank check for immediately available funds), an amount equal to (x) the Option Consideration payable to such Option holder pursuant to Section 2.2 minus (y) such Option holder’s Transaction Percentage of the Escrow Amount minus (z) such Option holder’s Transaction Percentage of any Reserve Holdback (provided that the deductions described in clauses (y) and (z) shall not be made to the extent the Escrow Amount or a Reserve Holdback was deducted from the amounts payable to such Option holder pursuant to Section 2.5(f)).
Payment of Option Consideration. Simultaneously with the consummation of the Merger, Merger Sub shall pay to the Company an amount in cash equal to the aggregate amount of consideration to be paid to holders of Company Stock Options pursuant to this Section 3.4 (Treatment of Company Stock-Based Securities), and the Surviving Corporation shall cause such consideration to be paid to such holders promptly (in no event later than one (1) Business Day) following the Effective Time.
Payment of Option Consideration. Any payment of Option Consideration required to be made to a holder of Company Options pursuant to this Agreement shall be paid by Parent first to the Surviving Corporation for payment to such holder, subject to Section 1.18, as follows: (x) that portion of the Option Consideration payable in respect of Employee Options to the holders of such Employee Options through the Surviving Corporation’s payroll system, and (y) that portion of the Option Consideration then payable in respect of Non-Employee Options to the holders of such Non-Employee Options to the Surviving Corporation through its accounts payable.