VAI Right Sample Clauses

The "VAI Right" clause establishes a party's specific entitlement or authority related to a VAI, which may refer to a Virtual Asset, Intellectual property, or another defined term within the agreement. In practice, this clause typically outlines the scope of rights granted, such as the ability to use, transfer, or license the VAI, and may set conditions or limitations on these actions. Its core function is to clearly delineate the rights and boundaries associated with the VAI, thereby preventing disputes and ensuring all parties understand their respective entitlements.
VAI Right. (a) Upon the occurrence of a Trigger Event (as defined below), FDIC will have the right (the “VAI Right”) which may be exercised in whole or in part, at any time during the Term in accordance with the provisions of Section 3, to receive a payment in cash or in stock (the “VAI Payment”) in respect of one hundred thousand (100,000) Units, in the aggregate, as follows: (1) if payment in cash is elected, the VAI Payment shall be equal to the product of (i) the Settlement Price per Unit and (ii) the number of Units in respect of which the VAI Right is being exercised as set forth in the applicable Exercise Notice, or (2) if payment in stock is elected, the VAI Payment shall be the number of shares of the Company’s common stock equal to (X) the product of (i) the number of Units in respect of which the VAI Right is being exercised as set forth in the applicable Exercise Notice and (ii) the Settlement Price per Unit, divided by (Y) the Determination Price as defined in clause (i) or clause (ii) of the definition of “Determination Price” as defined in clause (i) or clause (ii) of the definition of “Determination Price.”
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VAI Right. (a) Upon the occurrence of a Trigger Event (as defined below), FDIC will have the right (the “VAI Right”), which may be exercised, in whole or in part, at any time during the Term in accordance with the provisions of Section 3, to receive a payment in cash or in stock (the “VAI Payment”) in respect of one hundred thousand (100,000) Units, in the aggregate, as follows: (1) if payment in cash is elected, the VAI Payment shall be equal to the product of (i) the Settlement Price per Unit and (ii) the number of Units in respect of which the VAI Right is being exercised as set forth in the applicable Exercise Notice, or (2) if payment in stock is elected, the VAI Payment shall be the number of shares of the Company’s common stock equal to (X) the product of (i) the number of Units in respect of which the VAI Right is being exercised as set forth in the applicable Exercise Notice and (ii) the Settlement Price per Unit, divided by (Y) the Determination Price.
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VAI Right. (a) Upon the occurrence of a Trigger Event (as defined below), FDIC will have the right (the “VAI Right”) which may be exercised in whole or in part, at any time during the Term in accordance with the provisions of Section 3.
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Related to VAI Right

  • Exercise of Repurchase Option The Repurchase Option shall be exercised by written notice signed by an officer of the Company or by any assignee or assignees of the Company and delivered or mailed as provided in Section 17(a). Such notice shall identify the number of shares of Stock to be purchased and shall notify Purchaser of the time, place and date for settlement of such purchase, which shall be scheduled by the Company within the term of the Repurchase Option set forth in Section 2(a) above. The Company shall be entitled to pay for any shares of Stock purchased pursuant to its Repurchase Option, at the Company's option, in cash or by offset against any indebtedness owing to the Company by Purchaser, or by a combination of both. Upon delivery of such notice and payment of the purchase price in any of the ways described above, the Company shall become the legal and beneficial owner of the Stock being repurchased and all rights and interest therein or related thereto, and the Company shall have the right to transfer to its own name the Stock being repurchased by the Company, without further action by Purchaser.

  • Right of Repurchase To the extent provided in the Company's bylaws as amended from time to time, the Company shall have the right to repurchase all or any part of the shares of Common Stock you acquire pursuant to the exercise of your option.

  • Exercise of Repurchase Right Any Repurchase Right under Paragraphs 15(a) or 15(b) shall be exercised by giving notice of exercise as provided herein to Optionee or the estate of Optionee, as applicable. Such right shall be exercised, and the repurchase price thereunder shall be paid, by the Company within a ninety (90) day period beginning on the date of notice to the Company of the occurrence of such Repurchase Event (except in the case of termination or cessation of services as director, where such option period shall begin upon the occurrence of the Repurchase Event). Such repurchase price shall be payable only in the form of cash (including a check drafted on immediately available funds) or cancellation of purchase money indebtedness of the Optionee for the Shares. If the Company can not purchase all such Shares because it is unable to meet the financial tests set forth in the Nevada corporation law, the Company shall have the right to purchase as many Shares as it is permitted to purchase under such sections. Any Shares not purchased by the Company hereunder shall no longer be subject to the provisions of this Section 15.

  • Termination of Repurchase Option Sections 2, 3, 4 and 5 of this Agreement shall terminate upon the exercise in full or expiration of the Repurchase Option, whichever occurs first.

  • Repurchase Option (a) In the event Executive ceases to be employed by the Company, Employer or their respective Subsidiaries for any reason (the “Separation”), the Unvested Shares (whether held by Executive or one or more of Executive’s transferees, other than the Company) will be subject to repurchase, in each case by the Company and the Investors pursuant to the terms and conditions set forth in this Section 3 (the “Repurchase Option”). The Company may assign its repurchase rights set forth in this Section 3 to any Person. (b) In the event of a Separation the purchase price for each Unvested Share will be the lesser of (i) Executive’s Original Cost for the Carried Unit(s) in respect of which such Share was issued to Executive and (ii) the Fair Market Value of such Share as of the date of the Repurchase Notice (defined below). (c) The Board may elect to purchase all or any portion of the Unvested Shares by delivering written notice (the “Repurchase Notice”) to the holder or holders of the Unvested Shares within ninety (90) days after the Separation. The Repurchase Notice will set forth the number of Unvested Shares to be acquired from each holder, the aggregate consideration to be paid for such Unvested Shares and the time and place for the closing of the transaction. The number of Unvested Shares to be repurchased by the Company shall first be satisfied to the extent possible from the Unvested Shares held by Executive at the time of delivery of the Repurchase Notice. If the number of Unvested Shares then held by Executive is less than the total number of Unvested Shares which the Company has elected to purchase, the Company shall purchase the remaining Unvested Shares elected to be purchased from the other holder(s) of Unvested Shares under this Agreement, pro rata according to the number of Unvested Shares held by such other holder(s) at the time of delivery of such Repurchase Notice (determined as nearly as practicable to the nearest share). The number of Unvested Shares to be repurchased hereunder will be allocated among Executive and the other holders of Unvested Shares (if any) pro rata according to the number of Unvested Shares to be purchased from such Person.