Business Related Put Option Sample Clauses

Business Related Put Option. (i) The Company shall meet both of the following conditions: (1) prior to December 31, 2015, the contracted vehicle percentage shall not be lower than 50% in Guangzhou, Shanghai and Shenzhen; the total number of contracted vehicles shall not be less than 60,000 in the 30 cities selected by both Parties; further, prior to June 30, 2016, the total number of contracted vehicles shall not be less than 80,000 in the 30 cities selected by Baidu and the Company (a list of which is attached hereto as Schedule II), and at least 15 cities are covered; and (2) both average intranet connection rate and average internet connection rate of the WIFI devices which have been installed for more than 2 months shall reach 80% nationwide (the “Business Triggering Event”), and the Company is also required to provide Baidu with relevant written materials as to whether the Business Triggering Event condition is satisfied within the period of time specified by Baidu. If, in the judgment of Baidu after its review of such relevant written materials, the Company fails to satisfy the Business Triggering Event condition, then Baidu shall be entitled to give the Company and the Controlling Shareholders a written notice, requiring a solution through negotiations with the Company and requiring the Company to satisfy the Business Triggering Event condition within one (1) month. If the Company still fails to satisfy the Business Triggering Event condition within such remedy period, Baidu shall be entitled to give the Controlling Shareholders and Zhongguang Investment a written notice (the “Business Related Put Option Notice”), requiring the Controlling Shareholders to purchase all or part of the equity interest Baidu holds in the Company at the price specified in Article 7.2 (c)(ii) (the “Business Related Put Option Price”) based on their relative shareholding percentage in the Company (i.e., the shareholding percentage of a given Controlling Shareholder in the Company divided by the total shareholding percentage of such Controlling Shareholders in the Company) (the “Business Related Put Option”). The Controlling Shareholders shall be obligated to purchase and accept from Baidu the equity interest/shares subject to the Business Related Put Option at the Business Related Put Option Price within three (3) months following their receipt of the Business Related Put Option Notice from Baidu (including but not limited to full payment of the Business Related Put Option Price and completion of all ...
AutoNDA by SimpleDocs

Related to Business Related Put Option

  • Business Relations Neither the Company nor Seller knows or has good reason to believe that any customer or supplier of the Company will cease to do business with the Company after the consummation of the transactions contemplated hereby in the same manner and at the same levels as previously conducted with the Company except for any reductions which do not result in a Material Adverse Change. Neither Seller nor the Company has received any notice of any material disruption (including delayed deliveries or allocations by suppliers) other than the Konica Slowdown, in the availability of any material portion of the materials used by the Company nor is the Company or Seller aware of any facts which could lead them to believe that the Business will be subject to any such material disruption.

  • Business Relationship The relationship between a landlord and tenant is a business relationship. A courteous and businesslike attitude is required from both parties. We reserve the right to refuse rental to anyone who is verbally abusive, swears, is disrespectful, makes threats, is under the influence, is argumentative, or in general displays an attitude at the time of the unit showing and application process that causes management to believe we would not have a positive business relationship.

  • No Obligation to Continue Business Relationship Neither the Plan, this agreement, nor the grant of this option imposes any obligation on the Company to continue the Optionee in employment or other Business Relationship.

  • Certain Business Relationships Neither Parent nor any of its affiliates is a party to any Contract with any director, officer or employee of the Company or any Company Subsidiary.

  • Termination of Business Relationship If the Optionee's Business Relationship with the Company and all Related Corporations is terminated, other than by reason of death, disability or dissolution as defined in Section 5, no further installments of this option shall become exercisable, and this option shall terminate (and may no longer be exercised) after the passage of 90 days from the date the Business Relationship ceases, but in no event later than the scheduled expiration date. In such a case, the Optionee's only rights hereunder shall be those which are properly exercised before the termination of this option.

  • Subadviser’s Relationship Notwithstanding anything herein to the contrary, Subadviser shall be an independent contractor and will have no authority to act for or represent the Trust, the Fund or Manager in any way or otherwise be deemed an agent of any of them, except to the extent expressly authorized by this Agreement or in writing by the Trust or Manager.

  • Other Action Affecting Common Stock In case at any time or from time to time the Company shall take any action in respect of its Common Stock, other than the payment of dividends permitted by Section 4 or any other action described in Section 4, then, unless such action will not have a materially adverse effect upon the rights of the holder of this Warrant, the number of shares of Common Stock or other stock into which this Warrant is exercisable and/or the purchase price thereof shall be adjusted in such manner as may be equitable in the circumstances.

  • Non-Interference with Business Relationships a. Employee acknowledges that, in the course of employment, Employee will learn about Company’s business, services, materials, programs and products and the manner in which they are developed, marketed, serviced and provided. Employee knows and acknowledges that the Company has invested considerable time and money in developing its product sales and real estate development programs and relationships, vendor and other service provider relationships and agreements, store layouts and fixtures, and marketing techniques and that those things are unique and original. Employee further acknowledges that the Company has a strong business reason to keep secret information relating to Company’s business concepts, ideas, programs, plans and processes, so as not to aid Company’s competitors. Accordingly, Employee acknowledges and agrees that the protection outlined in (b) below is necessary and reasonable. b. During the Restricted Period, Employee will not, on Employee’s own behalf or on behalf of any other person or Entity, solicit, contact, call upon, or communicate with any person or entity or any representative of any person or entity who has a business relationship with Company and with whom Employee had contact while employed, if such contact or communication would likely interfere with Company’s business relationships or result in an unfair competitive advantage over Company.

  • Material Transactions or Affiliations Except as disclosed herein and in the IACH Schedules, there exists no contract, agreement or arrangement between IACH and any predecessor and any person who was at the time of such contract, agreement or arrangement an officer or director. IACH has no commitment, whether written or oral, to lend any funds to, borrow any money from, or enter into any other transaction with, any such affiliated person.

  • Business Relationships There are no business relationships or related party transactions involving the Company or any other person required to be described in the Registration Statement, the Pricing Disclosure Package and the Prospectus that have not been described as required.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!