Purchase Event Clause Samples
A Purchase Event clause defines the specific circumstances or actions that constitute a purchase under an agreement. Typically, it outlines what triggers a purchase, such as the execution of a purchase order, the transfer of goods, or the payment of consideration, and may specify the timing and documentation required to confirm the event. This clause ensures both parties have a clear understanding of when a purchase is officially recognized, thereby reducing disputes and providing certainty regarding contractual obligations.
Purchase Event. The purchase of all the Lower Tier REMIC 1 Uncertificated Regular Interests.
Purchase Event. The term "Purchase Event" shall mean either of the following events or transactions occurring after the date hereof:
Purchase Event. The purchase of all the Pooling REMIC 1 Regular Interests.
Purchase Event. Any of (i) the purchase of all the Pooling REMIC 1 Regular Interests, (ii) the purchase of all the Pooling REMIC 2 Regular Interests or (iii) the purchase of the Pooling REMIC 1 Regular Interests and the Pooling REMIC 2 Regular Interests.
Purchase Event. As used herein, "Purchase Event" shall mean: (i) the Board of Directors of Heritage shall not have recommended that the shareholders of Heritage reject a publicly disclosed offer to Heritage's shareholders to engage in an Acquisition Transaction with any person other than Acquiror or its Subsidiaries; (ii) Heritage, without having received Acquiror's prior written consent, shall have entered into an agreement to engage in an Acquisition Transaction with any person (other than Acquiror or its Subsidiaries); (iii) Heritage or any of its Representatives shall have breached Section 6.7 of the Merger Agreement; or (iv) a proposal is made by a third party to Heritage or its shareholders to engage in an Acquisition Transaction and Heritage shall have willfully breached any of its representations, warranties, covenants or agreements contained in the Merger Agreement which breach would entitle Acquiror to terminate the Merger Agreement (without regard to the cure periods provided for therein) and such breach shall not have been cured prior to the Notice Date (as defined below). If more than one of the transactions giving rise to a Purchase Event under this Section 3(b) is undertaken or effected, then
Purchase Event. For purposes of this Agreement, any one of the following events shall constitute a “Purchase Event”:
7.1.1 The death of a Shareholder, provided that the date of the Purchase Event for purposes of this Agreement shall be deemed to be the date on which the Corporation and each of the remaining Shareholders received notice of the appointment and qualification of the deceased Shareholder’s personal representative. The personal representative of the deceased Shareholder shall be obligated to give such notice as soon as practicable.
7.1.2 The permanent disability of a Shareholder, where “permanent disability” is defined as set forth below.
7.1.3 The removal of a Shareholder with the Corporation, including retirement.
7.1.4 The insolvency of a Shareholder or the making of an assignment for the benefit of creditors by a Shareholder, or the filing of a petition in bankruptcy by or against a Shareholder.
Purchase Event. 4 SEC . . . . . . . . . . . . . . . . . . . . . . . . . . . .5
Purchase Event. The first to occur of the following events shall constitute a “Purchase Event” with respect to all of the applicable Shareholder’s Awarded Shares.
Purchase Event. The term "Purchase Event" shall mean the acquisition by any Person (other than Grantee or any Grantee Subsidiary or any Issuer Subsidiary acting in a fiduciary capacity in the ordinary course of business (provided that the foregoing exception shall not apply to any Person for whom or which such Issuer Subsidiary is acting in such fiduciary capacity)) of Beneficial Ownership of shares of Common Stock, such that, upon the consummation of such acquisition, such Person has Beneficial Ownership, in the aggregate, of 20% or more of the then outstanding shares of Common Stock
Purchase Event. For purposes of this Agreement, any one of the following events shall constitutes a "Purchase Event":
4.1.1 The death of an individual Shareholder, provided that the date of the Purchase Event for purposes of this Agreement shall be deemed to be the date the Company receives notice of the appointment and qualification of the deceased Shareholder's personal representative. The personal representative of the deceased Shareholder shall be obligated to give such notice as soon as practicable.
4.1.2 The permanent disability of an individual Shareholder, where permanent disability" is defined as the Shareholder's inability, through physical or mental illness or other cause, to perform the majority of his or her usual duties for the Company for a period of six consecutive months.
4.1.3 Any decree of divorce, dissolution or separate maintenance, or any property settlement or separation agreement (a "Property Settlement") wherein Shares are awarded to a Shareholder's former or separated spouse or partner who is not also a Shareholder (a "Former Spouse").
4.1.4 The insolvency of a Shareholder or the making of an assignment for the benefit of creditors by a Shareholder or the filing of a petition in bankruptcy by or against a Shareholder.
4.1.5 The voluntary or involuntary termination of a Shareholder as an employee and/or director of the Company.