Put Option Transaction definition
Examples of Put Option Transaction in a sentence
The closing of the Put Option Transaction shall be conditioned upon the Buyer's obtaining the approval of the Investment Commission of the Ministry of Economic Affairs for the Buyer's transfer and delivery of the applicable Put Shares to the Company.
The Company shall, within ten (10) business days or such other days as promptly as legally possible following its receipt of the Buyer’s written notice requiring the Company to redeem the Purchasing Shares (the "Put Notice"), purchase such number of the Purchasing Shares identified in the Put Notice (the "Put Shares") at the same Original Purchase Price per Put Share (collectively, the "Redemption Price") (the "Put Option Transaction").
For the avoidance of doubt, NSR shall not be required to obtain ROI’s consent, written or otherwise, prior to entering into the Put Option Transaction.
Such redemption shall occur on a date (the "Put Option Redemption Date") 35 days after the Put Option Transaction Date (as defined below).
Any notice in connection herewith shall be made in accordance with Clause 6 of the Put Option Transaction.
For the avoidance of doubt, concurrent with the Closing, Holdco shall use a portion of the ROI net cash in the Trust Account and proceeds received in connection with the Put Option Transaction (if any) to (i) pay to the IL&FS Parties the IL&FS Purchase Price pursuant to the IL&FS Purchase Agreement, and (ii) repay to IL&FS Financial Services Limited the IL&FS Debt pursuant to the IL&FS Purchase Agreement.
Holdco shall use the Minimum Cash Amount and proceeds received in connection with the Put Option Transaction (if any) for general corporate purposes and satisfaction of the Company’s obligations in accordance with the Company’s business plan.
This Transaction shall be deemed to be both a "Call Option Transaction" and a "Put Option Transaction" as defined in the Equity Definitions, and each of Cogent and Amnor shall be deemed to be an "Equity Amount Payer" as defined in the Equity Definitions.