Common use of Grant of Put Option Clause in Contracts

Grant of Put Option. The Company hereby irrevocably grants to each Preference Shareholder an option (“Put Option”) to require the Company to purchase from such Preference Shareholder, free from Encumbrances and with all rights attaching thereto on the Put Option Completion, any or all of the Option Shares held by such Preference Shareholder, upon the terms and subject to the conditions in this Clause 11 and this Agreement.

Grant of Put Option. The Company hereby irrevocably grants to each Preference Shareholder the Stockholder an option (“a "Put Option”) "), upon the occurrence of a Special Put Event with respect to him, to require the Company to purchase from all, but not less than all, of the Management Shares then held by the Stockholder (or by a Permitted Transferee to which such Preference Shareholder, free from Encumbrances and with all rights attaching thereto on Management Shares were Transferred pursuant to Section 5.1 of the Stockholders Agreement) at a price per share (determined as of the date of closing of the Put Option Completion, any or all of the Option Shares held by such Preference Shareholder, upon the terms and subject Option) equal to the conditions in this Clause 11 and this AgreementFair Market Value.

Grant of Put Option. The Company hereby irrevocably grants to each Preference Shareholder the Stockholder an option (“a "Put Option”) "), upon the occurrence of a Special Put Event with respect to him, to require the Company to purchase from all, but not less than all, of the Management Shares then held by the Stockholder (or by a permitted transferee to which such Preference Shareholder, free from Encumbrances and with all rights attaching thereto on Management Shares were Transferred pursuant to Section 5.1 of the Stockholders Agreement) at a price per share (determined as of the date of closing of the Put Option Completion, any or all of the Option Shares held by such Preference Shareholder, upon the terms and subject Option) equal to the conditions in this Clause 11 and this AgreementFair Market Value.