The Put Option Clause Samples
The Put Option clause grants one party the right, but not the obligation, to sell a specified asset or interest to another party at a predetermined price within a certain timeframe. In practice, this means that if certain conditions are met or at the holder's discretion, they can require the counterparty to purchase the asset, such as shares in a company, at the agreed price. This clause is commonly used to provide an exit strategy or liquidity for investors, ensuring they have a clear mechanism to sell their stake and manage investment risk.
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The Put Option. 2.1 In consideration of the payment of ten pounds (£10) by the Sponsor to the Guarantor and for other good and valuable consideration (the receipt and adequacy of which the Guarantor hereby acknowledges), the Guarantor hereby grants to the Sponsor the option (i) at any time to require the Guarantor to purchase from the Sponsor up to fifty per cent. (50%) of the Residual Partnership Interest and (ii) at any time after the Put Option Date (as defined in the Secondary Put Agreement) to require the Guarantor to purchase from the Sponsor the Residual Partnership Interest in accordance with the provisions of this Agreement (the “Put Option”).
2.2 The Sponsor shall be entitled, but not obliged, at any time to exercise the Put Option at the Residual Interest Put Option Price by serving a Put Option Notice on the Guarantor specifying the Put Option Date and upon the service of such Put Option Notice, the Guarantor shall be obliged to purchase and the Sponsor shall be obliged to sell the Residual Partnership Interest on the Put Option Date for the Residual Partnership Interest Put Option Price and otherwise in accordance with the provisions of Clause 5 provided however that the Guarantor may nominate a third party to take the transfer in its place.
The Put Option. Anytime during the validity of this Warrant, the Holder shall have the right, but not the obligation, to require the Company to repurchase up to 100% of the Warrant stock issued upon the exercise of this Warrant at fair market value determined in accordance with section 4.3 below.
The Put Option. 11.1.1 In consideration of HTH Limited entering into this Agreement, the Council grants the Put Option to HTH Limited.
11.1.2 The Put Option confers the right on HTH Limited at any time during the Put Option Period, but only following the occurrence of a Trigger Event, to require the Council to buy ▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ from HTH Limited on the terms of this clause.
11.1.3 The Put Option may only be exercised after HTH Limited has purchased ▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ pursuant to the Option.
The Put Option. (a) The Purchaser hereby sells and grants to the Sellers, and the Sellers hereby purchase and acquire from the Purchaser, the option and right (the “Put Option”) to sell, assign, transfer and convey to the Purchaser all of the Acquired Assets, and to require the Purchaser to assume from the Sellers all of the Assumed Liabilities, in each case subject to and in accordance with the terms and conditions of this Agreement (such sale, assignment, transfer and conveyance of Acquired Assets and assumption of Assumed Liabilities, the “Purchase and Sale”).
(b) The Put Option shall be exercisable by the Sellers in their sole discretion by delivery to the Purchaser of a Put Option Exercise Notice prior to the earliest to occur (the “Put Termination Date”) of the following: (i) if an Insolvency Proceeding with respect to the Sellers has been commenced prior to Day Sixty, the Put Termination Date shall be the 60th day immediately following the date such Insolvency Proceeding shall have commenced, (ii) if an Insolvency Proceeding with respect to the Sellers has not been commenced prior to Day Sixty, the Put Termination Date shall be Day Sixty, and (iii) termination of this Agreement pursuant to Section 9.1. In the event that the Put Option shall not have been exercised prior to the Put Termination Date, all rights of the Sellers under the Put Option shall expire. In consideration of the grant by the Purchaser of the Put Option, the Sellers shall pay to the Purchaser on the date of this Agreement $40,000,000 (the “Put Option Fee”) by wire transfer to a bank account specified in writing by Purchaser.
The Put Option. The Put Option
The Put Option. Upon the termination of Executive’s employment with the Company Parties (other than by the Company Parties for Cause or resignation by Executive without Good Reason), the Unvested Securities (whether held by Executive or by one or more of Executive’s Transferees) will be subject to repurchase by the LLC (or one or more of its assignees at the election of the LLC) at the option of Executive (or a legal representative of Executive or Executive’s estate in the event of termination by reason of Disability or death) pursuant to the terms and conditions set forth in this Section 3 (the “Put Option”).
The Put Option. Upon (i) the failure of Executive to become an employee of any of the Company Parties on or before May 1, 2000 for any reason (other than as a result of an Executive Refusal) or (ii) the termination of Executive’s employment with the Company Parties (other than by the Company Parties for Cause or resignation by Executive without Good Reason), the Unvested Securities (whether held by Executive or by one or more of Executive’s Transferees) will be subject to repurchase by the LLC (or one or more of its assignees at the election of the LLC) at the option of Executive (or a legal representative of Executive or Executive’s estate in the event of termination by reason of Disability or death) pursuant to the terms and conditions set forth in this Section 3 (the “Put Option”).
The Put Option. (a) Subject to the terms and conditions set forth in Article 6 hereof, PEP shall have the option to satisfy the Allowed Sub Debt Claim in full by transferring to MAI title to the “Project Assets.” As used herein, “Project Assets” shall mean (i) all of the assets to be conveyed to E▇▇ under the Sale Agreement (as defined in the Sale Agreement as of the date hereof), (ii) all of the assets of PEP that are described in that certain Interconnection Agreement between PEP and E▇▇ (as filed with the Federal Energy Regulatory Commission at Docket No. ER05-188-000), and (iii) any and all other tangible and intangible property (including executory contracts and unexpired leases, to the extent assignable) owned by PEP which is necessary for MAI to acquire ownership of the Project, to commercially operate and maintain the Project, and to market, dispatch and deliver the output from the Project into the market. “Project Assets” shall not include any “Excluded Assets” (as such term is defined in the Sale Agreement as of the date hereof), except to the extent that such assets are included within paragraphs 6(a)(ii) and (iii) above. For the avoidance of doubt, “Project Assets shall not include any cash or cash equivalents, deposits or accounts receivable, except as set forth in paragraph (6)(b)(iv) hereof.
The Put Option. The Company and the Shareholders -------------- do hereby agree that on September 1, 1998 (the "Option Date"), each Shareholder, subject to the terms and conditions hereinafter set forth, shall have the right, but not the obligation, to require the Company to purchase, in whole or in part, his Option Shares (the "Put Option") at the purchase price set forth below herein (the Option Shares to be so purchased by the Company being referred to herein as "Put Shares").
The Put Option. (a) IFC shall have the option to sell all or part of the Option Shares to the Investor and, upon the exercise by IFC of such option, the Investor shall be obligated to pay at the Option Price, on the Settlement Date and at the Settlement Place, for all the Option Shares so sold by IFC.
(b) The Put Option may be exercised by IFC at any time or from time to time, and shall, in each case, be in respect of all or a part of the Option Shares, by delivery of a Put Notice within the Option Period.
(c) Upon receipt of a Put Notice, the Investor shall, on or prior to the relevant Settlement Date (which, for the avoidance of doubt, need not occur within the Option Period) deposit the Option Price with its broker with irrevocable instructions to transmit the Option Price in Dollars, in immediately available funds, to IFC pursuant to written wire instructions provided by IFC. Upon receipt of the Option Price as provided in the preceding sentence, IFC shall deliver to the Investor the certificate or certificates, if any, representing the relevant Option Shares, duly endorsed, or accompanied by appropriate stock powers duly endorsed, for transfer thereof to the Investor or, if such Option Shares are uncertificated, appropriate instrument(s) of transfer, duly executed, for transfer thereof to the Investor.