{"component": "clause", "props": {"groups": [{"samples": [{"hash": "jtSG973Wt6r", "uri": "/contracts/jtSG973Wt6r#buy-out", "label": "Partnership Agreement (Shipyard River Coal Terminal Co)", "score": 21.0, "published": true}, {"hash": "9J2CNxhd9GK", "uri": "/contracts/9J2CNxhd9GK#buy-out", "label": "Partnership Agreement (Shipyard River Coal Terminal Co)", "score": 21.0, "published": true}, {"hash": "4f4xxI8SeUR", "uri": "/contracts/4f4xxI8SeUR#buy-out", "label": "Partnership Agreement (Shipyard River Coal Terminal Co)", "score": 21.0, "published": true}], "snippet": "Any Partner that elects pursuant to Section 10.2 (b) (the \"Purchasing Partner\") to purchase the Partnership Interests of any Partner and its Affiliates (collectively, the \"Selling Partner\") shall exercise its election to acquire such Partnership Interests by notice to the Selling Partner setting forth such election and the grounds upon which such Partner is entitled to make such election, and the date (which shall not be earlier than 90 nor later than 120 days after the date such notice is given) upon which such Partnership Interest shall be transferred from the Selling Partner to the Purchasing Partner. The Selling Partner shall be bound by :he provisions of the notice relating to such date. The purchase price for such transfer shall be the book value of the Partnership Interests to be purchased, without giving effect to good will, but including the present value (discounted at a rate equal to the average of the Prime Rate for each of the two preceding years plus five percent) of the then existing ongoing brokerage or other contracts of the Partnership. Such present value shall be determined by either \u2587\u2587\u2587\u2587 \u2587. \u2587\u2587\u2587\u2587 Company of Pittsburgh, Pennsylvania, \u2587\u2587\u2587\u2587\u2587 Engineering Company of Beckley, West Virginia, or \u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587 Company of Chicago, Illinois. The Selling Partner and the Purchasing Partner shall each eliminate one of such firms and the remaining firm shall be requested to make a determination of such present value. The expenses of such determination shall be paid by the Partnership. The purchase price shall be payable, at the option of the Purchasing Partner, in cash on the date of transfer of the Partnership Interest, or within five years thereafter in equal annual installments payable on the date of such transfer and thereafter on each succeeding anniversary of such date, together with interest from the date of such transfer on any unpaid portion of the purchase price at a rate equal to the Prime Rate plus one percent, provided that the rate of interest shall in no event exceed the maximum amount permitted by applicable law and that the Purchasing Partner shall be entitled to offset against such purchase price any amounts owed to it by the Selling Partner pursuant to Section 4.6. The Partnership Interest to be acquired by the Purchasing Partner shall include all of the Partner's rights and interest under this Agreement. The transfer of Partnership Interests to the Purchasing Partner pursuant to this Section 10.3 shall relieve the Selling Partner of all obligations to the Partnership or to the Purchasing Partner other than for those resulting from events occurring prior to the effective date of such Transfer. The selling Partner agrees, from time to time at the request of the Purchasing Partner, at or after the date of such transfer, to execute and deliver such instruments of conveyance, assignment, transfer and consent as may be required or advisable for the effective conveyance and transfer of any of the business, properties, name, good will, assets and rights included in such Partnership Interest.", "snippet_links": [{"key": "pursuant-to-section", "type": "definition", "offset": [24, 43]}, {"key": "purchasing-partner", "type": "definition", "offset": [59, 77]}, {"key": "the-partnership-interests", "type": "clause", "offset": [92, 117]}, {"key": "selling-partner", "type": "definition", "offset": [172, 187]}, {"key": "to-acquire", "type": "definition", "offset": [218, 228]}, {"key": "the-selling", "type": "clause", "offset": [269, 280]}, {"key": "days-after", "type": "definition", "offset": [460, 470]}, {"key": "the-notice", "type": "clause", "offset": [668, 678]}, {"key": "relating-to", "type": "definition", "offset": [679, 690]}, {"key": "purchase-price-for", "type": "clause", "offset": [706, 724]}, {"key": "value-of-the-partnership", "type": "clause", "offset": [757, 781]}, {"key": "good-will", "type": "clause", "offset": [834, 843]}, {"key": "present-value", "type": "definition", "offset": [863, 876]}, {"key": "equal-to", "type": "definition", "offset": [899, 907]}, {"key": "the-prime-rate", "type": "definition", "offset": [923, 937]}, {"key": "five-percent", "type": "clause", "offset": [979, 991]}, {"key": "then-existing", "type": "definition", "offset": [1000, 1013]}, {"key": "other-contracts", "type": "clause", "offset": [1035, 1050]}, {"key": "west-virginia", "type": "clause", "offset": [1208, 1221]}, {"key": "determination-of", "type": "clause", "offset": [1404, 1420]}, {"key": "expenses-of", "type": "clause", "offset": [1445, 1456]}, {"key": "such-determination", "type": "definition", "offset": [1457, 1475]}, {"key": "by-the-partnership", "type": "clause", "offset": [1490, 1508]}, {"key": "the-option", "type": "clause", "offset": [1550, 1560]}, {"key": "transfer-of-the", "type": "clause", "offset": [1611, 1626]}, {"key": "years-thereafter", "type": "clause", "offset": [1664, 1680]}, {"key": "annual-installments", "type": "clause", "offset": [1690, 1709]}, {"key": "with-interest", "type": "definition", "offset": [1816, 1829]}, {"key": "unpaid-portion", "type": "clause", "offset": [1868, 1882]}, {"key": "provided-that", "type": "clause", "offset": [1957, 1970]}, {"key": "rate-of-interest", "type": "definition", "offset": [1975, 1991]}, {"key": "in-no-event", "type": "clause", "offset": [1998, 2009]}, {"key": "maximum-amount", "type": "definition", "offset": [2021, 2035]}, {"key": "applicable-law", "type": "clause", "offset": [2049, 2063]}, {"key": "amounts-owed", "type": "clause", "offset": [2156, 2168]}, {"key": "section-46", "type": "clause", "offset": [2210, 2221]}, {"key": "interest-under-this-agreement", "type": "clause", "offset": [2335, 2364]}, {"key": "transfer-of-partnership-interests", "type": "clause", "offset": [2370, 2403]}, {"key": "section-103", "type": "clause", "offset": [2447, 2459]}, {"key": "all-obligations", "type": "clause", "offset": [2497, 2512]}, {"key": "to-the-partnership", "type": "clause", "offset": [2513, 2531]}, {"key": "resulting-from", "type": "definition", "offset": [2582, 2596]}, {"key": "prior-to-the-effective-date", "type": "clause", "offset": [2614, 2641]}, {"key": "from-time-to-time", "type": "clause", "offset": [2688, 2705]}, {"key": "the-request", "type": "clause", "offset": [2709, 2720]}, {"key": "execute-and-deliver", "type": "clause", "offset": [2790, 2809]}, {"key": "instruments-of-conveyance", "type": "definition", "offset": [2815, 2840]}, {"key": "transfer-and-consent", "type": "clause", "offset": [2854, 2874]}, {"key": "conveyance-and-transfer", "type": "clause", "offset": [2925, 2948]}, {"key": "the-business", "type": "clause", "offset": [2959, 2971]}, {"key": "rights-included", "type": "clause", "offset": [3013, 3028]}], "size": 6, "hash": "16f66e28793c4445108df15f892d3d55", "id": 2}, {"samples": [{"hash": "v9w0s5Rgam", "uri": "/contracts/v9w0s5Rgam#buy-out", "label": "Employment Agreement (Commerce Energy Group, Inc.)", "score": 21.0, "published": true}, {"hash": "cV72wwYl4f9", "uri": "/contracts/cV72wwYl4f9#buy-out", "label": "Stock Option Award Agreement (Commerce Energy Group, Inc.)", "score": 21.0, "published": true}, {"hash": "asm3sJETYTz", "uri": "/contracts/asm3sJETYTz#buy-out", "label": "Restricted Share Award Agreement (Commerce Energy Group Inc)", "score": 21.0, "published": true}], "snippet": "The Committee has the same discretion to buy out SARs as it has to take such actions pursuant to Section 6(j) above with respect to Options.", "snippet_links": [{"key": "the-committee", "type": "clause", "offset": [0, 13]}, {"key": "pursuant-to-section", "type": "definition", "offset": [85, 104]}, {"key": "with-respect-to", "type": "clause", "offset": [116, 131]}], "size": 10, "hash": "896df96feef05aebd657e23112c92c17", "id": 1}, {"samples": [{"hash": "j9RUNGRv0Cd", "uri": "/contracts/j9RUNGRv0Cd#buy-out", "label": "Limited Liability Company Agreement", "score": 31.3408622742, "published": true}, {"hash": "cObrKR83M1T", "uri": "/contracts/cObrKR83M1T#buy-out", "label": "Limited Liability Company Agreement (Five Point Holdings, LLC)", "score": 28.3100624084, "published": true}], "snippet": "(a) At any time and from time to time, the Voting Members, by Majority Approval (collectively, the \u201cBuying Members\u201d), shall have the right to implement the buy-out procedures set forth in this Section 11.5 to buy the Percentage Interest of a Defaulting Member by giving written notice thereof (the \u201cElection Notice\u201d) to such Defaulting Member (the \u201cSelling Member\u201d). Such Election Notice shall state that the Buying Members shall buy the Percentage Interest of the Selling Member for a purchase price equal to the Individual Member Price of the Selling Member as determined pursuant to a Buy-Out Baseball Arbitration and as set forth in this Section 11.5. Notwithstanding anything to the contrary contained in this Section 11.5(a), an Election Notice may not be given if an Election Notice shall have previously been given (unless the closing pursuant to such Election Notice has occurred or such transaction has been terminated prior to the closing thereof pursuant to this Section 11.5).\n(b) Each Buying Member, within five (5) Business Days after the final determination of the Individual Member Prices (the \u201cFinal Determination\u201d), shall deposit ten percent (10%) of its pro rata share (based on such Buying Member\u2019s Percentage Interest as a percentage of the aggregate Percentage Interest of all Buying Members) of the Individual Member Price of the Selling Member (or based on such other method of allocating such Individual Member Prices as agreed upon unanimously by all of the Buying Members) to be paid to the Selling Member (the \u201cBuy-Out Deposit\u201d) with a national title insurance company, or other escrow agent acceptable to the parties, pursuant to an escrow agreement reasonably satisfactory to it, the Buying Members and the Selling Member.\n(c) The closing of any purchase and sale pursuant to this Section 11.5 shall be held at the principal office of the Company on or before the 30th day after the Final Determination (or on the next Business Day thereafter if such 30th day is not a Business Day) or on such other date and/or place as may be agreed to in writing by the Buying Members and the Selling Member. At the closing, (i) the Selling Member shall execute and deliver to each Buying Member an assignment of the Percentage Interest of such Selling Member (or applicable portion thereof) in the Standard Assignment Form and any other instruments that the Buying Member may reasonably require (with such other instruments to be in a form reasonably satisfactory to each of the Buying Members and the Selling Member) to give each Buying Member good and clear title to such Selling Member\u2019s Percentage Interest (or applicable portion thereof), and each Buying Member shall execute and deliver such assignment and, to the extent appropriate, such other instruments, (ii) the Selling Member shall pay any transfer or similar taxes arising out of or in connection with the sale and transfer of its Percentage Interest (or applicable portion thereof) to each Buying Member; (iii) the Buying Member shall pay the purchase price (or, if there is more than one Buying Member, each Buying Member shall pay its pro rata share of the purchase price) determined as provided in Section 11.5(a), after application of the Buy-Out Deposit paid by such Buying Member, by delivery of immediately available funds, such that the Selling Member receives an amount (including its share of the Buy-Out Deposit) equal to its Individual Member Price as determined by the Buy-Out Baseball Arbitration, and (iv) all amounts then payable by the Selling Member to the Company or to any other Member that is owed by the Selling Member pursuant to this Agreement shall be paid out of (and to the extent of) the Individual Member Price payable to such Selling Member. Each Buying Member shall purchase its pro rata share (based on such Buying Member\u2019s Percentage Interest as a percentage of the aggregate Percentage Interest of all Buying Members) of the Percentage Interest of the Selling Member (or in such other proportion as all the Buying Members shall agree to unanimously in writing, provided that the total amount being paid for the Selling Member\u2019s Percentage Interest does not change). Notwithstanding anything to the contrary contained in this Section 11.5, the Buying Members may offset against amounts due to the Selling Member any amounts due from the Selling Member to the Company or to any Buying Members or their Affiliated Guarantors pursuant to this Agreement or any Reimbursement Agreement.\n(d) If the Selling Member fails to fulfill its obligation to sell its Percentage Interest under this Section 11.5 and such failure continues for ten (10) days after written notice to such Selling Member, then the provisions of Section 11.5(h) shall apply and, in addition, the Buying Member(s) shall be entitled to obtain specific performance of the defaulting Selling Member\u2019s obligation to sell its Percentage Interest (or applicable portion thereof), in which case the purchase price for the Percentage Interest of the defaulting Selling Member (or applicable portion thereof) shall be reduced so as to be eighty-five percent (85%) of the Individual Member Price that would have otherwise applied under Section 11.5(a) if the defaulting Selling Member had not defaulted and shall otherwise be on the same terms and conditions that apply to a purchase under this Section 11.5. The Members agree that such discount from 100% to 85% represents a fair and agreed to measurement of liquidated damages and is not a penalty.\n(e) If all of the Buying Members fail to fulfill their obligation to buy the Percentage Interests of the Selling Member under this Section 11.5 and such failure continues for ten (10) days after written notice to the defaulting Buying Member, then the provisions of Section 11.5(h) shall apply and, without any further action by any party, such purchase and sale shall be deemed to have been cancelled, in which case the Selling Member shall receive the Buy-Out Deposit paid by the defaulting Buying Member as liquidated damages.\n(f) If one or more but less than all of the Buying Members fail to fulfill its or their obligation to buy the applicable portion of the Percentage Interest of the Selling Member under this Section 11.5 (such portion of the Interest, the \u201cDefaulted Buy-Out Interest\u201d) and such failure continues for ten (10) days after written notice to all of the Buying Members, including each defaulting Buying Member, then each defaulting Buying Member shall be subject to the provisions of Section 11.5(h) and, in addition:\n(i) Within five (5) Business Days after the expiration of such 10-day period, at least one Executive appointed by each of the non-defaulting Buying Members shall meet (which may include telephonic participation pursuant to Section 10.16) with at least one Executive appointed by the Selling Member at the offices of the Company, or such other location as agreed to by such participants to determine whether, in addition to the pro rata share of the Selling Member\u2019s Percentage Interest that each such Buying Member is obligated to buy pursuant to this Section 11.5, any one or more of the Buying Members (each, an \u201cElecting Buying B/S Member\u201d) will elect to acquire the Defaulted Buy-Out Interest at the same price that would have otherwise applied to such Defaulted Buy-Out Interest under this Section 11.5 if the defaulting Buying Member(s) had not defaulted. If there is more than one Electing Buying B/S Member, each will purchase its pro rata share of the Defaulted Buy-Out Interest based on the Percentage Interest of each Electing Buying B/S Member as a percentage of the aggregate Percentage Interest of all Electing Buying B/S Members (or as otherwise unanimously agreed upon by the Electing Buying B/S Members). Such meeting (the \u201cInternal B/S Determination Meeting\u201d) shall be conducted by a Qualifying Law Partner selected by the Selling Member, notice of which selection shall be given to all the Buying Members at least one (1) Business Day prior to such meeting. At such meeting, each non-defaulting Buying Member shall have the right to become an Electing Buying B/S Member by electing by written notice (which in the case of any Executive participating by telephone may be made by email or fax) to the Selling Member and the other non-defaulting Buying Members to acquire its pro rata portion of the Defaulted Buy-Out Interest; provided, however, that such election shall not affect such Electing Buying B/S Member\u2019s obligation to purchase the Interest (or applicable portion thereof) of the Selling Member that such Electing Buying B/S Member was already obligated to buy pursuant to this Section 11.5. At the close of the Internal B/S Determination Meeting the Qualifying Law Partner shall announce the results of such meeting and confirm such results in writing (which may be by email or fax) to all the Members by no later 5:00 PM (local time in California) on the first Business Day following the meeting. The fees and disbursements of the Qualifying Law Partner incurred in connection with preparing for, conducting and confirming the results of the Internal B/S Determination Meeting shall be a Company expense.\n(ii) If the Internal B/S Determination Meeting results in there being one or more non-defaulting Buying Members, including the Electing Buying B/S Members, who collectively agree to acquire the entire Percentage Interest (including the Defaulted Buy-Out Interest) of the Selling Member, the closing on the purchase and sale of such Percentage Interest shall take place on the fifth (5th) Business Day following the Internal B/S Determination Meeting. The closing shall be in accordance with Section 11.5(c); provided that (A) the portion of the Percentage Interest of the Selling Member to be acquired by each of the Buying Members, including the Electing Buying B/S Members, but excluding each defaulting Electing Buying B/S Member, and the related portion of the purchase price, shall be determined pursuant to Section 11.5(f)(i) and (b) the Electing Buying B/S Members may elect to receive the Buy-Out Deposit of each of the defaulting Buying Members as liquidated damages (and if there is more than one Electing Buying B/S Member, such Buy-Out Deposit of the defaulting Buying Members shall be apportioned among the Electing Buying B/S Members in the same proportion as each of the Electing Buying B/S Members pay for the purchase price of the Defaulted Buy-Out Interest). In the event of a default by any of the Buying Members or the Selling Member at such closing, the provision of Sections 11.5(d), 11.5(e) and this Section 11.5(f) shall again apply.\n(iii) If the Internal B/S Determination Meeting does not result in there being at least one non-defaulting Buying Member (including any Electing Buying B/S Members) who collectively agree to acquire the entire Percentage Interest (including the Defaulted Buy-Out Interest) of the Selling Member, or if the non-defaulting Buying Members notify the Selling Member that there are no Electing Buying B/S Members, then, with no further action by any party, the sale to the Buying Members shall be deemed to have been cancelled. Upon such cancellation, the Selling Member shall have the right to elect (A) to receive the Buy-Out Deposits paid by the defaulting Buying Members as liquidated damages, or (B) to pursue all rights and remedies that may be available to the Selling Member at law, in equity or otherwise against such defaulting Buying Members, including any claims for losses, damages and expenses (including attorneys\u2019 fees) resulting from the failure of such defaulting Buying Members to close under this Section 11.5 as and when required.", "snippet_links": [{"key": "at-any-time", "type": "clause", "offset": [4, 15]}, {"key": "from-time-to-time", "type": "clause", "offset": [20, 37]}, {"key": "voting-members", "type": "clause", "offset": [43, 57]}, {"key": "majority-approval", "type": "clause", "offset": [62, 79]}, {"key": "right-to-implement", "type": "clause", "offset": [133, 151]}, {"key": "the-buy", "type": "clause", "offset": [152, 159]}, {"key": "out-procedures", "type": "clause", "offset": [160, 174]}, {"key": "the-percentage", "type": "definition", "offset": [213, 227]}, {"key": "defaulting-member", "type": "clause", "offset": [242, 259]}, {"key": "notice-thereof", "type": "clause", "offset": [278, 292]}, {"key": "election-notice", "type": "definition", "offset": [299, 314]}, {"key": "the-selling-member", "type": "clause", "offset": [461, 479]}, {"key": "a-purchase", "type": "definition", "offset": [484, 494]}, {"key": "equal-to", "type": "definition", "offset": [501, 509]}, {"key": "individual-member", "type": "definition", "offset": [514, 531]}, {"key": "price-of-the", "type": "clause", "offset": [532, 544]}, {"key": "pursuant-to-a", "type": "definition", "offset": [574, 587]}, {"key": "baseball-arbitration", "type": "clause", "offset": [596, 616]}, {"key": "contained-in", "type": "definition", "offset": [697, 709]}, {"key": "an-election", "type": "clause", "offset": [732, 743]}, {"key": "pursuant-to-such", "type": "clause", "offset": [843, 859]}, {"key": "prior-to-the-closing", "type": "clause", "offset": [929, 949]}, {"key": "buying-member", "type": "definition", "offset": [999, 1012]}, {"key": "days-after", "type": "definition", "offset": [1039, 1049]}, {"key": "determination-of-the", "type": "clause", "offset": [1060, 1080]}, {"key": "pro-rata-share", "type": "clause", "offset": [1174, 1188]}, {"key": "based-on", "type": "clause", "offset": [1190, 1198]}, {"key": "a-percentage", "type": "definition", "offset": [1243, 1255]}, {"key": "aggregate-percentage-interest", "type": "definition", "offset": [1263, 1292]}, {"key": "method-of", "type": "definition", "offset": [1393, 1402]}, {"key": "as-agreed", "type": "clause", "offset": [1444, 1453]}, {"key": "national-title-insurance-company", "type": "clause", "offset": [1565, 1597]}, {"key": "escrow-agent", "type": "definition", "offset": [1608, 1620]}, {"key": "the-parties", "type": "definition", "offset": [1635, 1646]}, {"key": "escrow-agreement", "type": "definition", "offset": [1663, 1679]}, {"key": "principal-office-of-the-company", "type": "clause", "offset": [1846, 1877]}, {"key": "next-business-day", "type": "definition", "offset": [1945, 1962]}, {"key": "not-a-business-day", "type": "clause", "offset": [1994, 2012]}, {"key": "in-writing", "type": "definition", "offset": [2069, 2079]}, {"key": "at-the-closing", "type": "clause", "offset": [2126, 2140]}, {"key": "deliver-to", "type": "definition", "offset": [2183, 2193]}, {"key": "assignment-of-the", "type": "clause", "offset": [2216, 2233]}, {"key": "applicable-portion", "type": "definition", "offset": [2281, 2299]}, {"key": "assignment-form", "type": "definition", "offset": [2325, 2340]}, {"key": "other-instruments", "type": "clause", "offset": [2349, 2366]}, {"key": "title-to", "type": "clause", "offset": [2578, 2586]}, {"key": "assignment-and", "type": "clause", "offset": [2716, 2730]}, {"key": "to-the-extent", "type": "clause", "offset": [2732, 2745]}, {"key": "arising-out-of", "type": "definition", "offset": [2847, 2861]}, {"key": "in-connection-with", "type": "clause", "offset": [2865, 2883]}, {"key": "transfer-of", "type": "definition", "offset": [2897, 2908]}, {"key": "the-purchase-price", "type": "clause", "offset": [3022, 3040]}, {"key": "application-of-the", "type": "clause", "offset": [3207, 3225]}, {"key": "delivery-of", "type": "clause", "offset": [3273, 3284]}, {"key": "immediately-available-funds", "type": "definition", "offset": [3285, 3312]}, {"key": "to-the-company", "type": "definition", "offset": [3551, 3565]}, {"key": "other-member", "type": "definition", "offset": [3576, 3588]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [3624, 3650]}, {"key": "payable-to", "type": "definition", "offset": [3723, 3733]}, {"key": "agree-to", "type": "clause", "offset": [4045, 4053]}, {"key": "provided-that", "type": "clause", "offset": [4078, 4091]}, {"key": "total-amount", "type": "definition", "offset": [4096, 4108]}, {"key": "amounts-due", "type": "definition", "offset": [4294, 4305]}, {"key": "affiliated-guarantors", "type": "definition", "offset": [4417, 4438]}, {"key": "agreement-or", "type": "definition", "offset": [4456, 4468]}, {"key": "reimbursement-agreement", "type": "definition", "offset": [4473, 4496]}, {"key": "obligation-to-sell", "type": "clause", "offset": [4545, 4563]}, {"key": "the-provisions-of-section", "type": "clause", "offset": [4707, 4732]}, {"key": "specific-performance", "type": "definition", "offset": [4820, 4840]}, {"key": "purchase-price-for", "type": "clause", "offset": [4970, 4988]}, {"key": "five-percent", "type": "clause", "offset": [5114, 5126]}, {"key": "otherwise-applied", "type": "definition", "offset": [5180, 5197]}, {"key": "same-terms-and-conditions", "type": "clause", "offset": [5301, 5326]}, {"key": "the-members", "type": "clause", "offset": [5377, 5388]}, {"key": "measurement-of", "type": "clause", "offset": [5463, 5477]}, {"key": "liquidated-damages", "type": "clause", "offset": [5478, 5496]}, {"key": "not-a-penalty", "type": "clause", "offset": [5504, 5517]}, {"key": "percentage-interests", "type": "definition", "offset": [5596, 5616]}, {"key": "notice-to-the", "type": "clause", "offset": [5722, 5735]}, {"key": "by-any-party", "type": "clause", "offset": [5845, 5857]}, {"key": "the-applicable", "type": "clause", "offset": [6155, 6169]}, {"key": "the-interest", "type": "definition", "offset": [6268, 6280]}, {"key": "subject-to-the-provisions", "type": "clause", "offset": [6497, 6522]}, {"key": "expiration-of", "type": "clause", "offset": [6604, 6617]}, {"key": "day-period", "type": "definition", "offset": [6626, 6636]}, {"key": "the-non", "type": "clause", "offset": [6682, 6689]}, {"key": "telephonic-participation", "type": "clause", "offset": [6746, 6770]}, {"key": "pursuant-to-section", "type": "definition", "offset": [6771, 6790]}, {"key": "agreed-to-by", "type": "clause", "offset": [6915, 6927]}, {"key": "determine-whether", "type": "clause", "offset": [6949, 6966]}, {"key": "in-addition-to-the", "type": "clause", "offset": [6968, 6986]}, {"key": "to-acquire", "type": "definition", "offset": [7215, 7225]}, {"key": "notice-of", "type": "definition", "offset": [7917, 7926]}, {"key": "by-written-notice", "type": "clause", "offset": [8161, 8178]}, {"key": "in-the-case", "type": "clause", "offset": [8186, 8197]}, {"key": "by-telephone", "type": "definition", "offset": [8229, 8241]}, {"key": "by-email", "type": "clause", "offset": [8254, 8262]}, {"key": "the-other-non", "type": "clause", "offset": [8297, 8310]}, {"key": "pro-rata-portion", "type": "clause", "offset": [8352, 8368]}, {"key": "obligation-to-purchase", "type": "clause", "offset": [8493, 8515]}, {"key": "local-time", "type": "definition", "offset": [8912, 8922]}, {"key": "in-california", "type": "definition", "offset": [8923, 8936]}, {"key": "following-the-meeting", "type": "clause", "offset": [8964, 8985]}, {"key": "fees-and-disbursements", "type": "clause", "offset": [8991, 9013]}, {"key": "preparing-for", "type": "definition", "offset": [9072, 9085]}, {"key": "results-of-the", "type": "clause", "offset": [9117, 9131]}, {"key": "company-expense", "type": "definition", "offset": [9178, 9193]}, {"key": "meeting-results", "type": "clause", "offset": [9234, 9249]}, {"key": "purchase-and-sale-of", "type": "clause", "offset": [9501, 9521]}, {"key": "in-accordance-with", "type": "clause", "offset": [9667, 9685]}, {"key": "but-excluding", "type": "clause", "offset": [9871, 9884]}, {"key": "to-receive", "type": "definition", "offset": [10077, 10087]}, {"key": "pay-for", "type": "clause", "offset": [10409, 10416]}, {"key": "default-by", "type": "clause", "offset": [10490, 10500]}, {"key": "provision-of", "type": "clause", "offset": [10570, 10582]}, {"key": "notify-the", "type": "clause", "offset": [10989, 10999]}, {"key": "no-further-action", "type": "definition", "offset": [11073, 11090]}, {"key": "rights-and-remedies", "type": "clause", "offset": [11367, 11386]}, {"key": "available-to", "type": "definition", "offset": [11399, 11411]}, {"key": "claims-for-losses", "type": "clause", "offset": [11516, 11533]}, {"key": "damages-and-expenses", "type": "definition", "offset": [11535, 11555]}, {"key": "resulting-from-the", "type": "clause", "offset": [11584, 11602]}, {"key": "when-required", "type": "clause", "offset": [11685, 11698]}], "size": 6, "hash": "15a676fc7c4c0a1a1b82d3614f560225", "id": 3}, {"samples": [{"hash": "iO87ttbym7h", "uri": "/contracts/iO87ttbym7h#buy-out", "label": "Propane Energy Contract", "score": 30.2752227783, "published": true}, {"hash": "jXXLjKXjZRF", "uri": "/contracts/jXXLjKXjZRF#buy-out", "label": "Propane Energy Contract", "score": 24.6386032104, "published": true}, {"hash": "emxqPb2zCr2", "uri": "/contracts/emxqPb2zCr2#buy-out", "label": "Propane Energy Contract", "score": 24.6386032104, "published": true}], "snippet": "If Customer would request to terminate this contract at any time before the expiration date, a Buy Out price will be determined by calculating the difference between the Product price as stated in this Agreement and the rack price at the time of the buyout multiplied by the remaining quantity of unpurchased Product, plus a penalty of $0.10 per gallon on the remaining unpurchased quantity of Product.", "snippet_links": [{"key": "this-contract", "type": "definition", "offset": [39, 52]}, {"key": "at-any-time", "type": "clause", "offset": [53, 64]}, {"key": "expiration-date", "type": "definition", "offset": [76, 91]}, {"key": "calculating-the", "type": "clause", "offset": [131, 146]}, {"key": "product-price", "type": "definition", "offset": [170, 183]}, {"key": "in-this-agreement", "type": "definition", "offset": [194, 211]}, {"key": "rack-price", "type": "definition", "offset": [220, 230]}, {"key": "the-buyout", "type": "clause", "offset": [246, 256]}, {"key": "quantity-of-product", "type": "clause", "offset": [382, 401]}], "size": 5, "hash": "f64404791d6723146eafcd1e09dc1fa0", "id": 4}, {"samples": [{"hash": "iGrXeV9sba1", "uri": "/contracts/iGrXeV9sba1#buy-out", "label": "Sales Contracts (Sunbelt Automotive Group Inc)", "score": 18.0, "published": true}, {"hash": "c1BHBIhPwqP", "uri": "/contracts/c1BHBIhPwqP#buy-out", "label": "Ford Sales and Service Agreement (Sunbelt Automotive Group Inc)", "score": 18.0, "published": true}, {"hash": "bb8CdT0yuUx", "uri": "/contracts/bb8CdT0yuUx#buy-out", "label": "Sales Contracts (Group 1 Automotive Inc)", "score": 18.0, "published": true}], "snippet": "The successor dealership named in such Interim Agreement shall arrange in writing, subject to the approval of the Company which shall not be unreasonably withheld, for one or more persons named in subparagraph F(ii) of the Interim Agreement to have the right to acquire during its term at least a 20% ownership interest in the successor dealership and, if the successor dealership is offered a standard Sales and Service Agreement for", "snippet_links": [{"key": "interim-agreement", "type": "clause", "offset": [39, 56]}, {"key": "in-writing", "type": "definition", "offset": [71, 81]}, {"key": "approval-of-the-company", "type": "definition", "offset": [98, 121]}, {"key": "agreement-to", "type": "definition", "offset": [231, 243]}, {"key": "right-to-acquire", "type": "definition", "offset": [253, 269]}, {"key": "ownership-interest", "type": "clause", "offset": [301, 319]}, {"key": "agreement-for", "type": "clause", "offset": [421, 434]}], "size": 5, "hash": "8cded64285484fec1d6983b293c12030", "id": 5}, {"samples": [{"hash": "dYuywr3RC6b", "uri": "/contracts/dYuywr3RC6b#buy-out", "label": "Contract for Golf Course Pro Shop Services", "score": 32.5682029724, "published": true}, {"hash": "eSh2PG8BnEK", "uri": "/contracts/eSh2PG8BnEK#buy-out", "label": "Golf Course Pro Shop Services Agreement", "score": 31.3099422455, "published": true}, {"hash": "8EEDZbwjfUT", "uri": "/contracts/8EEDZbwjfUT#buy-out", "label": "Golf Course Pro Shop Services Agreement", "score": 31.3099422455, "published": true}], "snippet": "At the expiration or termination of this Contract, if not renewed for an additional term, the City agrees to buy out all new Pro Shop merchandise of \u2587\u2587\u2587\u2587\u2587\u2587 purchased during the last year of this Contract verified by paid receipts, that \u2587\u2587\u2587\u2587\u2587\u2587 decides to sell. The City has the right to refuse to purchase any item that it determines is not in new condition. To determine a fair and reasonable buy-out price, a qualified person or persons (hereafter \u201cAppraiser\u201d) shall be appointed upon the agreement of both parties to set the price. The City agrees to offer to \u2587\u2587\u2587\u2587\u2587\u2587 the price as reasonably determined by the Appraiser. The cost of the Appraiser shall be shared equally by \u2587\u2587\u2587\u2587\u2587\u2587 and City unless otherwise agreed by the parties.", "snippet_links": [{"key": "termination-of-this-contract", "type": "clause", "offset": [21, 49]}, {"key": "additional-term", "type": "clause", "offset": [73, 88]}, {"key": "city-agrees-to", "type": "clause", "offset": [94, 108]}, {"key": "pro-shop", "type": "definition", "offset": [125, 133]}, {"key": "last-year", "type": "definition", "offset": [177, 186]}, {"key": "that-\u2587", "type": "clause", "offset": [231, 237]}, {"key": "to-sell", "type": "clause", "offset": [251, 258]}, {"key": "right-to-refuse-to", "type": "clause", "offset": [277, 295]}, {"key": "to-determine", "type": "clause", "offset": [358, 370]}, {"key": "fair-and-reasonable", "type": "definition", "offset": [373, 392]}, {"key": "person-or-persons", "type": "clause", "offset": [420, 437]}, {"key": "the-agreement", "type": "clause", "offset": [486, 499]}, {"key": "of-both-parties", "type": "clause", "offset": [500, 515]}, {"key": "the-price", "type": "clause", "offset": [523, 532]}, {"key": "to-offer", "type": "definition", "offset": [550, 558]}, {"key": "cost-of", "type": "definition", "offset": [626, 633]}, {"key": "by-the-parties", "type": "clause", "offset": [715, 729]}], "size": 4, "hash": "b357934cdb306fe90d072a8740a77f8e", "id": 6}, {"samples": [{"hash": "f2UTxRR6kTr", "uri": "/contracts/f2UTxRR6kTr#buy-out", "label": "License, Development and Commercialization Agreement (Cellectis S.A.)", "score": 30.1909656525, "published": true}], "snippet": "Cellectis will notify Servier with [***] after the occurrence of a Change of Control. If Servier exercises its right to buy-out Cellectis\u2019s interest, Servier will provide written notice to Cellectis (a \u201cBuyout Notice\u201d) within [***] following the Change of Control. Within [***] following Servier\u2019s provision of the Buyout Notice, the Parties will meet and negotiate the amount of the payment from Servier to Cellectis for the buy-out of Cellectis\u2019s interest in the Pre-Candidate Products, Candidate Products or Product(s) (the \u201cBuyout Payment\u201d).\n12.2.1. If the Parties agree on the amount of the Buyout Payment within such [***] period, then Servier will have [***] to determine whether to proceed with the buy-out at such price. If Servier elects to proceed with the buy-out at the agreed Buyout Payment, then it will provide written notice thereof to Cellectis (or its successor) and, this Agreement will terminate [***] after delivery of such written notice, Servier will pay the applicable Buyout Payment to Cellectis (or its successor) within such [***].\n12.2.2. If the Parties fail to agree on an amount of a Buyout Payment within [***] following the provision of the Buyout Notice, then within [***] thereafter each Party will select and pay at its costs one (1) Third Party valuator (such valuators shall be from top-tier, internationally-recognized investment banks or accounting firms) with relevant expertise to determine the appropriate amount for the Buyout Payment. Each of the Parties will provide to such valuators such information as it deems pertinent and any information requested by such valuators. Such selected valuators will promptly (and in any event within [***] after the selection of such valuators) determine their respective valuation of the Buyout Payment amount and provide notice of such amount (and underlying assumptions and methodology) to each of the Parties. If the amount of the Buyout Payment estimated by one valuator is equal to or less than one hundred twenty percent (120%) of the amount of the Buyout Payment estimated by the other valuator, then the Buyout Payment shall be equal to the average of the amount proposed by the valuators. If the amount of the Buyout Payment estimated by one valuator is greater than one hundred twenty percent (120%) of the amount of the Buyout Payment estimated by the other valuator, then the Parties will mutually agree upon a third valuator. In such event, the Buyout Payment determined by the third valuator shall be the Buyout Payment (provided, that the Buyout Payment shall be capped at the amount of the higher of the Buyout Payments determined by the prior two valuators). 12.2.3. After determination of the Buyout Payment pursuant to Section 12.2.1 or 12.2.2 above, as applicable, Servier will have [***] to determine whether to proceed with the buy-out at such price. If Servier elects to proceed with the buy-out at the agreed Buyout Payment, then it will provide written notice thereof to Cellectis (or its successor) and this Agreement will terminate [***] after delivery of such written notice, Servier will pay the applicable Buyout Payment to Cellectis (or its successor) within such [***].", "snippet_links": [{"key": "occurrence-of-a-change-of-control", "type": "clause", "offset": [51, 84]}, {"key": "right-to-buy", "type": "clause", "offset": [111, 123]}, {"key": "will-provide", "type": "clause", "offset": [158, 170]}, {"key": "notice-to", "type": "definition", "offset": [179, 188]}, {"key": "buyout-notice", "type": "definition", "offset": [203, 216]}, {"key": "following-the", "type": "definition", "offset": [232, 245]}, {"key": "the-buyout", "type": "clause", "offset": [311, 321]}, {"key": "meet-and-negotiate", "type": "clause", "offset": [347, 365]}, {"key": "the-payment", "type": "clause", "offset": [380, 391]}, {"key": "the-pre", "type": "clause", "offset": [461, 468]}, {"key": "the-parties-agree", "type": "clause", "offset": [557, 574]}, {"key": "determine-whether", "type": "clause", "offset": [669, 686]}, {"key": "notice-thereof", "type": "clause", "offset": [835, 849]}, {"key": "this-agreement", "type": "clause", "offset": [887, 901]}, {"key": "delivery-of", "type": "clause", "offset": [929, 940]}, {"key": "the-applicable", "type": "clause", "offset": [979, 993]}, {"key": "payment-to", "type": "clause", "offset": [1001, 1011]}, {"key": "each-party-will", "type": "clause", "offset": [1218, 1233]}, {"key": "third-party-valuator", "type": "definition", "offset": [1270, 1290]}, {"key": "investment-banks", "type": "definition", "offset": [1358, 1374]}, {"key": "accounting-firms", "type": "clause", "offset": [1378, 1394]}, {"key": "determine-the", "type": "clause", "offset": [1423, 1436]}, {"key": "appropriate-amount", "type": "definition", "offset": [1437, 1455]}, {"key": "each-of-the-parties", "type": "clause", "offset": [1480, 1499]}, {"key": "provide-to", "type": "clause", "offset": [1505, 1515]}, {"key": "such-information", "type": "definition", "offset": [1531, 1547]}, {"key": "requested-by", "type": "definition", "offset": [1590, 1602]}, {"key": "selection-of", "type": "definition", "offset": [1698, 1710]}, {"key": "valuation-of", "type": "clause", "offset": [1754, 1766]}, {"key": "payment-amount", "type": "clause", "offset": [1778, 1792]}, {"key": "notice-of", "type": "definition", "offset": [1805, 1814]}, {"key": "assumptions-and-methodology", "type": "clause", "offset": [1843, 1870]}, {"key": "equal-to", "type": "definition", "offset": [1961, 1969]}, {"key": "mutually-agree", "type": "definition", "offset": [2384, 2398]}, {"key": "buyout-payments", "type": "definition", "offset": [2603, 2618]}, {"key": "determination-of-the", "type": "clause", "offset": [2673, 2693]}, {"key": "section-1221", "type": "clause", "offset": [2721, 2735]}], "size": 4, "hash": "79d7d2918aa6bdd36c77a0551cdafb1c", "id": 9}, {"samples": [{"hash": "fmQN0krshdE", "uri": "/contracts/fmQN0krshdE#buy-out", "label": "Sale and Purchase Agreement (YY Group Holding Ltd.)", "score": 34.6084861755, "published": true}, {"hash": "7YJdWddkQK7", "uri": "/contracts/7YJdWddkQK7#buy-out", "label": "Sale and Purchase Agreement (YY Group Holding Ltd.)", "score": 33.8062973022, "published": true}, {"hash": "etx8LYp6RDq", "uri": "/contracts/etx8LYp6RDq#buy-out", "label": "Sale and Purchase Agreement (YY Group Holding Ltd.)", "score": 33.8035583496, "published": true}], "snippet": "10.1 In consideration of the Founders agreeing to be bound by the terms of this Agreement, the Investor agrees that, during the period of ninety (90) days immediately after the third anniversary of this Agreement, any of the Founders may require the Investor to acquire his/her Shares by delivering a Put Option Notice to the Investor. The Put Option Notice shall stipulate the number of Shares that the relevant Founder wishes to sell to the Investor (\u201cSale Shares\u201d) as well as the purchase price for the Sale Shares as computed in accordance with Clause 10.2 below (\u201cPut Purchase Price\u201d). The Sale Shares shall be free from any Encumbrance and shall be sold with all rights attaching to them as at the date of the Put Option Notice. The Investor shall be obligated to acquire the Sale Shares from the relevant Founder within thirty (30) days from the date of delivery of the Put Option Notice. On the date of completion of the Transfer of the Sale Shares, the relevant Founder shall, against payment of the Put Purchase Price by the Investor, deliver to the Investor duly executed instrument of transfer in respect of the Sale Shares as well as the share certificate of the Sale Shares.\n10.2 The Put Purchase Price shall be computed in the following manner: The higher of (i) S$2,000,000 or (ii) the consolidated net assets value of the Company as at the most recently completed Financial Year prior to the Put Option Notice x Shareholding percentage represented by the Sale Shares = Put Purchase Price", "snippet_links": [{"key": "the-founders", "type": "clause", "offset": [25, 37]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [66, 89]}, {"key": "period-of", "type": "definition", "offset": [128, 137]}, {"key": "third-anniversary", "type": "definition", "offset": [177, 194]}, {"key": "require-the", "type": "clause", "offset": [238, 249]}, {"key": "to-acquire", "type": "definition", "offset": [259, 269]}, {"key": "notice-to-the-investor", "type": "clause", "offset": [312, 334]}, {"key": "the-put-option", "type": "clause", "offset": [336, 350]}, {"key": "number-of-shares", "type": "definition", "offset": [378, 394]}, {"key": "the-relevant", "type": "clause", "offset": [400, 412]}, {"key": "to-sell", "type": "clause", "offset": [428, 435]}, {"key": "purchase-price-for", "type": "clause", "offset": [483, 501]}, {"key": "in-accordance-with", "type": "clause", "offset": [530, 548]}, {"key": "put-purchase-price", "type": "definition", "offset": [569, 587]}, {"key": "all-rights", "type": "clause", "offset": [665, 675]}, {"key": "within-thirty", "type": "clause", "offset": [820, 833]}, {"key": "delivery-of-the", "type": "clause", "offset": [861, 876]}, {"key": "transfer-of-the-sale-shares", "type": "clause", "offset": [929, 956]}, {"key": "payment-of-the-put", "type": "clause", "offset": [994, 1012]}, {"key": "by-the-investor", "type": "clause", "offset": [1028, 1043]}, {"key": "deliver-to", "type": "definition", "offset": [1045, 1055]}, {"key": "duly-executed", "type": "clause", "offset": [1069, 1082]}, {"key": "in-respect-of", "type": "clause", "offset": [1106, 1119]}, {"key": "certificate-of", "type": "definition", "offset": [1157, 1171]}, {"key": "value-of-the-company", "type": "definition", "offset": [1326, 1346]}, {"key": "financial-year", "type": "definition", "offset": [1381, 1395]}, {"key": "prior-to-the", "type": "clause", "offset": [1396, 1408]}, {"key": "shareholding-percentage", "type": "clause", "offset": [1429, 1452]}, {"key": "represented-by", "type": "definition", "offset": [1453, 1467]}], "size": 4, "hash": "7eff388d85a754a97f40b9ac56d492c4", "id": 7}, {"samples": [{"hash": "lSxobA9LilB", "uri": "/contracts/lSxobA9LilB#buy-out", "label": "Insurance Broker's Agreement", "score": 19.0, "published": true}], "snippet": "5.1 Buy-Out\n(a) on or after the 60th birthday of the Broker; or\n(b) in the event that the Broker is diagnosed with a serious illness or otherwise which renders him permanently and totally unable to work as a Broker; or\n(c) in the event of the Broker's death, having regard for the provisions of Clause 7.3.", "snippet_links": [{"key": "the-broker", "type": "clause", "offset": [49, 59]}, {"key": "serious-illness", "type": "clause", "offset": [117, 132]}, {"key": "unable-to-work", "type": "definition", "offset": [188, 202]}, {"key": "in-the-event-of", "type": "definition", "offset": [223, 238]}, {"key": "the-provisions-of", "type": "clause", "offset": [277, 294]}], "size": 4, "hash": "b3f69a8585cd0e983965763564576fad", "id": 8}, {"samples": [{"hash": "4HEsDYg1Uga", "uri": "/contracts/4HEsDYg1Uga#buy-out", "label": "License and Collaboration Agreement (Regulus Therapeutics Inc.)", "score": 30.364818573, "published": true}, {"hash": "2yvYj5KqkGj", "uri": "/contracts/2yvYj5KqkGj#buy-out", "label": "License and Collaboration Agreement (Regulus Therapeutics Inc.)", "score": 21.6255989075, "published": true}, {"hash": "8wDbWPQWdhf", "uri": "/contracts/8wDbWPQWdhf#buy-out", "label": "License and Collaboration Agreement (Isis Pharmaceuticals Inc)", "score": 19.6023273468, "published": true}], "snippet": "Any and all references in the Amended License Agreement to the term \u201cBuy-Out\u201d are null and void.", "snippet_links": [{"key": "references-in-the", "type": "clause", "offset": [12, 29]}, {"key": "agreement-to", "type": "definition", "offset": [46, 58]}, {"key": "the-term", "type": "clause", "offset": [59, 67]}, {"key": "null-and-void", "type": "definition", "offset": [82, 95]}], "size": 3, "hash": "ed87ce9f014491ad9cc0f97b33892b7d", "id": 10}], "next_curs": "ClASSmoVc35sYXdpbnNpZGVyY29udHJhY3RzciwLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhBidXktb3V0IzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"children": [["", ""], ["buy-out", "Buy-Out"], ["right-to-initiate-buy-out", "Right to Initiate Buy-Out"], ["unsecured-rights-to-deferred-compensation", "Unsecured Rights to Deferred Compensation"], ["issuance-of-shares-upon-vesting", "Issuance of Shares upon Vesting"]], "title": "Buy-Out", "parents": [["share-appreciate-rights-sars", "Share Appreciate Rights Sars"], ["termination-rescission-and-recapture", "Termination, Rescission and Recapture"], ["liquidation-or-dissolution", "Liquidation or Dissolution"], ["dissolution-and-purchase-rights", "Dissolution and Purchase Rights"], ["investment-purposes", "Investment Purposes"]], "size": 203, "id": "buy-out", "related": [["death-buy-out", "Death Buy Out", "Death Buy Out"], ["buy-sell", "Buy-Sell", "Buy-Sell"], ["settlement-of-placement-shares", "Settlement of Placement Shares", "Settlement of Placement Shares"], ["compensatory-time-cash-out", "Compensatory Time Cash Out", "Compensatory Time Cash Out"], ["settlement-of-placement-securities", "Settlement of Placement Securities", "Settlement of Placement Securities"]], "related_snippets": [], "updated": "2026-07-10T04:32:06+00:00"}, "json": true, "cursor": ""}}