Common use of Delay of Purchase Clause in Contracts

Delay of Purchase. In the event that the payment of the purchase ----------------- price for any Covered Options by the Company otherwise permitted under Section 5(c) is prevented solely by the terms of Section 10(a), (i) the payment of such - purchase price will be postponed and will be made without the application of further conditions or impediments (other than as set forth in Section 5 hereof or in this Section 10) at the first opportunity thereafter when the Company has funds legally available therefor and when the payment of such purchase price will not result in any default, event of default or violation under any of the Financing Agreements or in a violation of any term or provision of the Certificate of Incorporation of the Company and (ii) the Grantee's right to receive payment of such purchase -- price shall rank against other similar rights with respect to shares of Common Stock or options in respect thereof according to priority in time of the effective date of the event giving rise to any such right, provided that any -------- such right as to which a common date determines priority shall be of equal priority and shall share pro rata in any purchase payments made pursuant to clause (i) above.

Appears in 2 contracts

Samples: Management Stock Option Agreement (Riverwood Holding Inc), Employment Agreement (Riverwood Holding Inc)

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Delay of Purchase. In the event that the payment of the purchase ----------------- price for any Covered Options by the Company otherwise permitted under Section 5(c) is prevented solely by the terms of Section 10(a), (i) the payment of such - purchase price will be postponed and will be made without the application of further conditions or impediments (other than as set forth in Section 5 hereof or in this Section 10) at the first opportunity thereafter when the Company has funds legally available therefor and when the payment of such purchase price will not result in any default, event of default or violation under any of the Financing Agreements or in a violation of any term or provision of the Certificate of Incorporation of the Company and (ii) the Grantee's ’s right to receive payment of such purchase -- price shall rank against other similar rights with respect to shares of Common Stock or options in respect thereof according to priority in time of the effective date of the event giving rise to any such right, provided that any -------- such right as to which a common date determines priority shall be of equal priority and shall share pro rata in any purchase payments made pursuant to clause (i) above.

Appears in 1 contract

Samples: Management Stock Option Agreement (Riverwood Holding Inc)

Delay of Purchase. In the event that the payment of the purchase ----------------- price for any Covered Rollover Options or the Rollover Exercise Shares, as the case may be, by the Company otherwise permitted under Section 5(c2.10(a) is prevented solely by the terms of Section 10(a2.10(e)(i), (ix) the payment of such - purchase price will be postponed and will be made without the application of further conditions or impediments (other than as set forth in Section 5 2.10(a) hereof or in this Section 102.10(e)) at the first opportunity thereafter when the Company has funds legally available therefor and when the payment of such purchase price will not result in any default, event of default or violation under any of the Financing Agreements or in a violation of any term or provision of the Certificate of Incorporation of the Company and (iiy) the Grantee's Rollover Optionholder’s right to receive payment of such purchase -- price shall rank against other similar rights with respect to shares of Common Stock or options in respect thereof according to priority in time of the effective date of the event giving rise to any such right, provided that any -------- such right as to which a common date determines priority shall be of equal priority and shall share pro rata in any purchase payments made pursuant to clause (ix) above.

Appears in 1 contract

Samples: Stockholders Agreement (Equinox Group Inc)

Delay of Purchase. In the event that the payment of the purchase ----------------- price for any Covered Options by the Company Worldwide otherwise permitted under Section 5(c) is prevented solely by the terms of Section 10(a), (i) the payment of such - purchase price will be postponed and will be made without the application of further conditions or impediments (other than as set forth in Section 5 hereof or in this Section 10) at the first opportunity thereafter when the Company Worldwide has funds legally available therefor and when the payment of such purchase price will not result in any default, event of default or violation under any of the Financing Agreements or in a violation of any term or provision of the Certificate of Incorporation of the Company Worldwide and (ii) the Grantee's right to receive payment of such purchase -- price shall rank against other similar rights with respect to shares of Common Stock or options in respect thereof according to priority in time of the effective date of the event giving rise to any such right, provided that any -------- such right as to which a common date determines priority shall be of equal priority and shall share pro rata in any purchase payments made pursuant to clause (i) above.

Appears in 1 contract

Samples: Management Stock Option Agreement (Relocation Management Systems Inc)

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Delay of Purchase. In the event that the payment of the purchase ----------------- price for any Covered Options by the Company otherwise permitted under Section 5(c) is prevented solely by the terms of Section 10(a), (i) the payment of such - purchase price will be postponed and will be made without the application of further conditions or impediments (other than as set forth in Section 5 hereof or in this Section 10) at the first opportunity thereafter when the Company has funds legally available therefor and when the payment of such purchase price will not result in any default, event of default by Holding or any of its Subsidiaries or violation under any of the Financing Agreements or in a violation of any term or provision of the Certificate of Incorporation of the Company and (ii) the Grantee's right to receive payment of such purchase price -- price shall rank against other similar rights with respect to shares of Common Stock or options in respect thereof according to priority in time of the effective date of the event giving rise to any such right, provided that any -------- such right as -------- to which a common date determines priority shall be of equal priority and shall share pro rata in any purchase payments made pursuant to clause (i) above.

Appears in 1 contract

Samples: Management Stock Option Agreement (Qualifax Sa De Cv)

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