Put Option exercise Sample Clauses
The Put Option exercise clause defines the process by which a party holding a put option can require the counterparty to purchase a specified asset at a predetermined price. Typically, this clause outlines the notice requirements, timeframes, and conditions under which the option can be exercised, such as providing written notice within a certain period or meeting specific financial thresholds. Its core practical function is to give the option holder a clear and enforceable right to sell the asset, thereby providing a mechanism for risk management or exit from an investment under agreed terms.
Put Option exercise. 15.1.1 FMO has the right to require the State to purchase all of FMO's Shares (and not only some) (the "Put Option") against payment of the purchase price in cash for these Shares as determined in accordance with this Clause 15 (Deadlock Put Option) (the "
Put Option exercise. Subject to the terms and conditions hereof, the Company hereby grants to Force Dimension, the right and option, but not the obligation, to require the Company to repurchase all of the Shares during the period of thirty business days beginning on the six month anniversary of the Effective Date (or such date is not a business day, the next succeeding business day) (the “Exercise Period”) for an aggregate purchase price of $405,000 (the “Put Option”). Force Dimension may exercise the Put Option by providing a written notice of exercise duly executed by Force Dimension at least 5 business days prior to the end of the Exercise Period. In the event Force Dimension exercises the Put Option, it shall deliver certificates evidencing the Shares to the Company by the end of the Exercise Period and the Company shall pay the $405,000 upon receipt of such share certificates. The Put Option may not be partially exercised and shall apply to all of the Shares.
Put Option exercise. Prior to the expiration of the Put Option, Seller may exercise the Put Option at its sole discretion. To exercise its right to sell the Station, Seller shall give written notice to Purchaser prior to the expiration of the Option Period, and within five (5) business days thereafter, the Purchase Agreement shall be executed by the parties thereto.
Put Option exercise. (i) If [Strategic Investor] desires to exercise the Put Option, [Strategic Investor] [(or an Affiliate of [Strategic Investor] that [Strategic Investor] has nominated to hold the Put Shares pursuant to the terms and conditions of the Warrant Agreement)] shall deliver to the Corporation a written notice (the “Put Exercise Notice”) committing to exercise the Put Option and sell all, and not less than all, of the Put Shares to the Acquiring Entity.
(ii) By delivering the Put Exercise Notice, [Strategic Investor] [(or an Affiliate of [Strategic Investor] that [Strategic Investor] has nominated to hold the Put Shares pursuant to the terms and conditions of the Warrant Agreement)] represents and warrants to the Corporation that, as of the Option Closing Date (as defined below), (A) [Strategic Investor] [(or an Affiliate of [Strategic Investor] that [Strategic Investor] has nominated to hold the Put Shares pursuant to the terms and conditions of the Warrant Agreement)] is the beneficial owner of the Put Shares and (B) [Strategic Investor] [(or an Affiliate of [Strategic Investor] that [Strategic Investor] has nominated to hold the Put Shares pursuant to the terms and conditions of the Warrant Agreement)] holds the Put Shares free and clear of any and all Liens other than those arising under the terms of this Agreement or applicable securities Laws.
Put Option exercise. The Seller hereby exercises the Put Option pursuant to the Option Agreement and directs the Escrow Agent (i) to release the Shares and related Stock Power to the Transfer Agent, (ii) to wire transfer the Exercise Price to the Seller in the amount of Seven Million Fifty Two Thousand Nine Hundred Ninety Six Dollars ($7,052,996) to account # __________________________________________________________________, and (iii) to remit the interest or dividends earned on the Exercise Price during the custody arrangement established in accordance with the provisions of the Option Agreement.
Put Option exercise. (a) ▇▇▇▇▇▇▇ may exercise the Put Option by delivering 3 months’ prior written notice under this clause 14.4 to NWS at any time after the date that is 9 months after the Completion Date.
(b) On receipt by NWS of the Put Notice under clause 14.4(a), NWS must buy, and ▇▇▇▇▇▇▇ must sell, the Option Shares for the Option Price upon expiry of the 3 months’ prior written notice.
Put Option exercise. 7.1 A Put Option shall be irrevocable and may only be exercised once in respect of all (and not some only) of the Grantee Shares.
Put Option exercise. An exercise of any remedy set out in Sections 5.1 through 5.5 by the Pledgee shall also be deemed to constitute an exercise by Purchasers of the Put Option, and, for the avoidance of doubt, upon such deemed exercise the Put/Call Price shall be immediately due and payable without any further action or notice by any party.
Put Option exercise. (a) CH may deliver up to two Put Notices, subject to the conditions below, each of which must specify a date that is the last day of the StepStone fiscal quarter during which the Put Notice is made (the date so specified, the “Put Determination Date”). If a Put Notice is delivered during the Put Only Period, the Put Determination Date must be one of June 30, 2026, September 30, 2026, December 31, 2026, March 31, 2027 or June 30, 2027 – the fiscal quarter-end immediately following the Put Notice.
(b) The first Put Notice must specify the portion of the Profits Interest to be purchased, which must not be less than (i) eighty percent (80%) of the Profits Interest, if the Put Notice is delivered during the Put Only Period and (ii) one hundred percent (100%) of the Profits Interest, if the Put Notice is delivered during the Put/Call Option Period.
(c) The second Put Notice, if any, shall require the Purchasers to acquire all the Outstanding Profits Interest. Unless StepStone exercises its Put Cutback right as described in Section 2(d), the Put Determination Date for the second Put Notice may not be earlier than the last day of the third fiscal quarter after the Put Determination Date for the first Put Notice. For example, if CH delivers a Put Notice for 80% with respect to a June 30, 2026 Put Determination Date, then CH may not deliver a Put Notice for the Outstanding Profits Interest until January 1, 2027, the first day of the quarter ending March 31, 2027.
(d) If the first Put Notice is delivered during the Put Only Period and specifies that it is with respect to more than eighty percent (80%) of the Profits Interest, then StepStone may, by notice to CH to be provided no later than ten (10) days after StepStone’s receipt of the first Put Notice, reduce the amount of Profits Interest to be Put to not less than eighty percent (80%) (such reduction, a “Put Cutback”).
(e) Notwithstanding the foregoing provisions of this Section 2, StepStone may Call the Outstanding Profits Interest at any time after the beginning of the Put/Call Option Period pursuant to Section 3.