NSFB Put Option; City Purchase Obligation Sample Clauses

NSFB Put Option; City Purchase Obligation. Notwithstanding anything to the contrary in this Agreement, at any time following the Initial Sale Date, but not later than the Put End Date (as defined below), NSFB may, upon written notice delivered to the City (the ―Put Notice‖), at any time, in NSFB’s sole and absolute discretion, for any reason or no reason, elect to have the City purchase the Property from NSFB for the Put Purchase Price (as defined below). If NSFB delivers the Put Notice, then the City shall be obligated to purchase the Property from NSFB for the Put Purchase Price, on the date that is thirty (30) days after the date NSFB delivers the Put Notice to the City, pursuant to the terms and conditions of the Purchase and Sale Agreement and Joint Escrow Instructions attached hereto as Exhibit ―B‖ (the ―Put PSA‖). NSFB and the City shall execute and deliver the Put PSA concurrently with the execution and delivery of this Agreement, and the fully executed Put PSA shall be held by the Escrow Agent (as defined in the Put PSA) until such time, if any, that the Put Notice is delivered by NSFB, at which time, the Escrow Agent shall immediately date the Put PSA the date of the Put Notice, and immediately release the fully executed Put PSA to NSFB and City. The ―Put Purchase Price‖ is defined as One Million Two Hundred Thousand Dollars ($1,200,000), increased annually (on a non-compounded basis) based on annual CPI increases for a period of six (6) years, with a 5% annual cap on such annual CPI increases, as set forth in the Put PSA. NSFB’s ability to deliver the Put Notice hereunder shall expire on the date (the ―Put End Date‖) that is the earlier to occur of (a) the date NSFB acquires IKEA’s right, title and interest in and to the IKEA Lease, or (b) the ten (10) year anniversary of the Initial Sale Date. Notwithstanding anything to the contrary herein, if requested from the City by NSFB or its affiliate, the City shall be required to provide its consent to the assignment of the IKEA Lease by IKEA (or a successor or assign) to NSFB or its affiliate (or a successor or assign).
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Related to NSFB Put Option; City Purchase Obligation

  • Put Option The Company hereby grants to Lender an option (the “Put Option”) to sell all or any portion of the Issued Shares (the “Put Shares”) to the Company for a total purchase price of $195,000, pro-rated for any portion thereof (the “Put Price”). The Put Option may be exercised with respect to any amount that is equal to or less than the entire balance of the outstanding Put Shares, at any time during the earlier to occur of the following Put Option exercise periods (the “Put Period”): (a) the ten (10) Business Day period commencing on the first anniversary hereof, or (b) the ten (10) Business Day period commencing on the date which is nine (9) months after the date that the registration statement for the registration of the Issued Shares is declared effective by the SEC . If not exercised during the Put Period, the Put Option shall terminate and shall be of no further force or effect. The Put Option shall be exercisable by Lender’s delivery of written notice to the Company (the “Put Notice”). The Put Notice shall specify the date on which the closing of the purchase of the Put Shares shall take place (the “Put Closing Date”), which such date shall be no earlier than ten (10) days but no later than thirty (30) days from the date of the Put Notice. On or before the Put Closing Date, Lender will deliver to the Company the certificate(s) representing the Put Shares (duly endorsed for transfer by Lender or accompanied by duly executed stock powers in blank) and the Company shall tender to Lender the Put Price in cash by wire transfer of immediately available funds to an account at a bank designated by Lender. The Company and Lender acknowledge and agree that the Company’s obligation to purchase the Issued Shares from Lender pursuant to the Put Option is an Obligation secured by the Collateral and any related guarantees under the Loan Documents, and for so long as the Put Option is outstanding and, if exercised, the Put Price is not yet tendered, the Lender’s right to receive the Put Price shall be secured by the Collateral and any related guarantees under the Loan Documents. Lender’s right to exercise the Put Option shall not be transferred or assigned to any third party.

  • Acceptance; Purchase Buyer shall accept the goods and pay a total sum of $26,390.00 for the goods in accordance with the terms of this Agreement.

  • Payment of Settlement Amount (1) Within thirty (30) days of the Date of Execution, the Settling Defendants shall pay the Settlement Amount to Siskinds LLP, for deposit into the Trust Account.

  • Total Purchase Price (High Bid + Buyer’s Premium) $

  • Asset Purchase Price (a) All Assets and assets of the Failed Bank subject to an option to purchase by the Assuming Institution shall be purchased for the amount, or the amount resulting from the method specified for determining the amount, as specified on Schedule 3.2, except as otherwise may be provided herein. Any Asset, asset of the Failed Bank subject to an option to purchase or other asset purchased for which no purchase price is specified on Schedule 3.2 or otherwise herein shall be purchased at its Book Value. Loans or other assets charged off the Accounting Records of the Failed Bank before the Bid Valuation Date shall be purchased at a price of zero.

  • Agreement Amount The Grantee acknowledges and agrees that, notwithstanding any other provision of this Agreement, the maximum amount payable by the City under this Agreement for the initial ## month term shall not exceed the amount approved by City Council, which is $ (dollar amount), and $ (dollar amount) per ## month extension option, for a total Agreement amount of $ . Continuation of the Agreement beyond the initial ## months is specifically contingent upon the availability and allocation of funding, and authorization by City Council.

  • FAILURE TO HONOUR SETTLEMENT AGREEMENT 32. If this Settlement Agreement is accepted by the Hearing Panel and, at any subsequent time, the Respondent fails to honour any of the Terms of Settlement set out herein, Staff reserves the right to bring proceedings under section 24.3 of the By-laws of the MFDA against the Respondent based on, but not limited to, the facts set out in Part IV of the Settlement Agreement, as well as the breach of the Settlement Agreement. If such additional enforcement action is taken, the Respondent agrees that the proceeding(s) may be heard and determined by a hearing panel comprised of all or some of the same members of the hearing panel that accepted the Settlement Agreement, if available.

  • Call Option The Company shall have the option to "call" the Warrants (the "Warrant Call"), in accordance with and governed by the following:

  • Acceptance Date The date the Department accepts a Deliverable or System in accordance with Section 7 below shall be deemed the Acceptance Date for each Deliverable or System.

  • PURCHASE PRICE & PAYMENT The total Purchase Price for the Property is the amount of the successful bid for the parcel at public auction.

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