CONSEQUENCES OF EXERCISE Sample Clauses
The "Consequences of Exercise" clause defines what happens after a party exercises a particular right or option under the agreement, such as the right to purchase shares, terminate a contract, or trigger a specific provision. This clause typically outlines the steps that must be taken following the exercise, any resulting obligations for both parties, and the timeline for completing related actions. For example, it may specify payment terms, delivery requirements, or the transfer of assets. Its core practical function is to provide clarity and predictability regarding the outcomes and responsibilities that arise once a contractual right is exercised, thereby reducing the risk of disputes.
CONSEQUENCES OF EXERCISE. If any PRP Holder exercises such rights (an "EXERCISING PRP HOLDER"), then the Beta Interests affected thereby shall be excluded from the assets transferred to Buyer at the Closing, and shall be sold to such Exercising PRP Holder.
CONSEQUENCES OF EXERCISE. Upon receipt by an Existing Shareholder of an Exercise Notice, such Existing Shareholder shall enter into an agreement with HiSoft or its nominee for the sale and purchase of the Haihui Dalian Shares in a customary form satisfactory to HiSoft and permitted under applicable law then in force and the relevant approval/registration authorities with immediate effect. Consummation of the sale and purchase of the Haihui Dalian Shares set forth in the Exercise Notice (“Option Exercise Closing”) shall take place in accordance with Section 2 hereof.
CONSEQUENCES OF EXERCISE. Subject to the condition precedent of the Purchaser exercising the Put, the Parties agree as follows, with respect to the period following such exercise: