Marathon Call Right Sample Clauses
A Marathon Call Right is a contractual provision that grants one party, typically an investor or company, the right to force the sale or repurchase of certain securities or assets after a specified period, often following a long-term holding or investment. In practice, this right may be exercised if certain conditions are met, such as the passage of a set number of years or the occurrence of specific events, allowing the holder to require the other party to sell their interest at a predetermined price or formula. The core function of a Marathon Call Right is to provide an exit mechanism or liquidity option for long-term investors, ensuring they have a clear path to realize their investment after a defined period.
Marathon Call Right. 21 SECTION 3.02.
Marathon Call Right. Subject to Section 3.04, at any time on and after December 31, 2004, Marathon shall have the right to purchase from Ashland on the Scheduled Closing Date (the “Marathon Call Right”), and Ashland shall thereupon be required to sell to Marathon on the Scheduled Closing Date, all of Ashland’s Membership Interests and the Ashland LOOP/LOCAP Interest, for an aggregate amount equal to the purchase price (the “Marathon Call Price”) set forth in Section 3.02(a), plus interest on the Marathon Call Price at a rate per annum equal to the Base Rate, with daily accrual of interest, for the period commencing on the Marathon Call Exercise Date and ending on the Scheduled Closing Date.
Marathon Call Right. In the event that Marathon exercises its Special Termination Right or Marathon Call Right, at the Closing: