Alternate Cash Consideration. (a) In the event the Purchaser or its Affiliates become obligated to pay the Alternate Cash Consideration pursuant to Section 6.9(e) of the Partner Sub Purchase Agreement (and the Alternate Cash Consideration is to be based on the value of 5.4 million shares of Original Common Stock), then the Purchaser may, provided that it notifies the Company of its election to do so promptly after such payment obligation arises, pay to the Company
Alternate Cash Consideration. In the event that, despite its best ---------------------------- efforts, the Company shall not obtain Stockholder Approval, at the Third Closing the Company shall deliver to Mediacom the Alternate Cash Consideration, at Mediacom's option, by the delivery of a certified or cashier's check or by federal wire transfer to an account designated by Mediacom.
Alternate Cash Consideration. In the event that an Offering does not occur within eighteen (18) months from the Closing, the Seller shall have a one time option which must be exercised in writing not less than eighteen (18) months after the Closing and not more than nineteen (19) months after the Closing, to forgo the consideration set forth in Section 2 above and to receive in lieu thereof the following cash payments: (i) $200,000 to be paid on the date which is 5 days following the receipt by the Purchaser of the Seller's election hereunder; (ii) $200,000 to be paid on the date which is twenty-four (24) months after the Closing; and (iii) $200,000 on the date which is thirty-six (36) months after the Closing. In all cases, the Milestones set forth in Section 2(a) above shall apply to the cash payments in this Section 3, if the Seller elects to receive these cash payments in lieu of the Stock Payments set forth above.
Alternate Cash Consideration. In the event that an Offering does not occur within eighteen (18) months from the Effective Date, the Owner shall have a one time option which must be exercised in writing not less than eighteen (18) months after the Effective Date and not more than nineteen (19) months after the Effective Date, to forego the consideration set forth in Section 2 above and to receive in lieu thereof the following cash payments:
Alternate Cash Consideration. In the event that an Offering does not occur within eighteen (18) months from the Closing, the Seller shall have a one time option which must be exercised in writing not less than eighteen (18) months after the Closing and not more than twenty-one (21) months after the Closing, to forgo the consideration set forth in Section 2 above and to receive in lieu thereof the following cash payments: (i) $1,500,000 paid on the date which is 5 days following the receipt by the Purchaser of the Seller's election hereunder; (ii) $1,500,000 to be paid on the date which is twenty-four (24) months after the Closing; and (iii) $2,000,000 on the date which is thirty months after the Closing. In all cases, forty percent (40%) of the foregoing cash payments shall be made provided that Jeff Xxxxx xxx Rob Xxxxx xxxain employed by the Purchaser and the remaining sixty percent (60%) of such payment shall be subject to the Milestones in Section 2(b) above.
