Nature of the Right Sample Clauses

Nature of the Right. (a) The Key Employee shall have the right to receive a Sale Bonus only if a Sale Event is consummated (i) while Key Employee is an employee of the Company or any of its subsidiaries, (ii) if the Key Employee's employment is terminated without "Cause," within three (3) months of such termination, or (iii) if the Key Employee's employment by reason of death or permanent disability, within six (6) months of such termination. For purposes hereof, the term "
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Nature of the Right. Opco intends to avail itself of this Prepaid Rent option during each of the calendar years during which construction of the XXX xxxx not have been completed, including the calendar year which will include the Commissioning Date, and in the calendar years thereafter if it so determines. This stated intention of Opco does not create any right on the part of the Partnership to require Prepaid Rent from Opco at any time during the LIL Assets Term nor to require any minimum amount of Prepaid Rent to be paid if and when Opco were to exercise its option to prepay Rent. Furthermore, the Partnership shall have no recourse against Opco were Opco to determine not to prepay Rent during any calendar year.
Sample 1
Nature of the Right. (a) The Executive shall have the right to receive a Sale Bonus only upon the closing of a Sale Event during the Employment Period. Notwithstanding the foregoing, (i) if the Executive's Employment Period is terminated within 18 months prior to the consummation of a Sale Event by reason of the Executive's death or Disability, the Company shall, upon the closing of such Sale Event, pay (or cause to be paid) to the Executive (or his estate) the Sale Bonus, and (ii) the Company shall also pay the Executive a Sale Bonus if a Sale Event occurs within 18 months of the Company's termination of the Executive's employment without Cause or the expiration of the Employment Period without an offer by DEI to renew the Employment Agreement (6 months if there has been a "Negative EBITDA Event"). For purposes of this Section 3(a), a "Negative EBITDA Event" shall be deemed to have occurred if the Company's "EBITDA" during any 12-month period ending not more than six (6) months prior to the termination of the Executive's Employment Period shall have declined at least 10% from the Company's EBITDA during any preceding 12-month period. "
Sample 1

Related to Nature of the Right

  • Nature of the Option This Option is intended to be a nonstatutory stock option and is not intended to be an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the "Code"), or to otherwise qualify for any special tax benefits to the Optionee.

  • Nature of the Award In accepting the Award, you acknowledge, understand and agree that:

  • Nature of the Grant In signing this Agreement, the Participant acknowledges that:

  • Nature of Services Executive shall diligently perform such duties and assume such responsibilities as shall from time to time be specified by the Company.

  • Nature of Purchase Such Purchaser is not acquiring the Notes purchased by it hereunder with a view to or for sale in connection with any distribution thereof within the meaning of the Securities Act, provided that the disposition of such Purchaser's property shall at all times be and remain within its control.

  • Nature of Relationship The Company acknowledges and agrees that in connection with the offering and the sale of the Notes or any other services the Underwriters may be deemed to be providing hereunder, notwithstanding any preexisting relationship, advisory or otherwise, between the parties or any oral representations or assurances previously or subsequently made by the Underwriters: (i) no fiduciary or agency relationship between the Company and any other person, on the one hand, and the Underwriters, on the other hand, exists; (ii) the Underwriters are not acting as advisors, experts or otherwise, to the Company, including, without limitation, with respect to the determination of the public offering price of the Notes, and such relationship between the Company, on the one hand, and the Underwriters, on the other hand, is entirely and solely a commercial relationship, based on arms-length negotiations; (iii) any duties and obligations that the Underwriters may have to the Company shall be limited to those duties and obligations specifically stated herein; and (iv) the Underwriters and their respective affiliates may have interests that differ from those of the Company. The Company hereby waives any claims that the Company may have against the Underwriters with respect to any breach of fiduciary duty in connection with this offering.

  • NATURE OF OPTION The Option is not intended to meet the requirements of Section 422 of the Internal Revenue Code of 1986, as amended, relating to “incentive stock options”.

  • Nature of Purchaser Such Purchaser represents and warrants to, and covenants and agrees with, the Partnership that, (a) it is an “accredited investor” within the meaning of Rule 501 of Regulation D promulgated by the Commission pursuant to the Securities Act and (b) by reason of its business and financial experience it has such knowledge, sophistication and experience in making similar investments and in business and financial matters generally so as to be capable of evaluating the merits and risks of the prospective investment in the Purchased Units, is able to bear the economic risk of such investment and, at the present time, would be able to afford a complete loss of such investment.

  • Structure of the Merger Upon the terms and subject to the conditions set forth in this Agreement, at the Effective Time (as defined in Section 1.3), Merger Sub shall be merged with and into the Company, and the separate existence of Merger Sub shall cease. The Company will continue as the surviving corporation in the Merger (the “Surviving Corporation”).

  • Permitted Use Tenant shall use the Premises solely for the Permitted Use set forth in Section 7 of the Summary and Tenant shall not use or permit the Premises or the Project to be used for any other purpose or purposes whatsoever without the prior written consent of Landlord, which may be withheld in Landlord’s sole discretion.

Time is Money Join Law Insider Premium to draft better contracts faster.