Option to Put Sample Clauses
An Option to Put clause grants one party the right, but not the obligation, to require another party to purchase a specified asset or interest at a predetermined price or under certain conditions. Typically, this clause is used in shareholder agreements or investment contracts, where an investor may have the right to sell their shares back to the company or other shareholders after a certain period or upon the occurrence of specific events. The core practical function of this clause is to provide the holder with a guaranteed exit strategy, thereby managing investment risk and offering flexibility in uncertain or changing circumstances.
Option to Put. In the event of termination of this Agreement by Provider pursuant to Section 7.2, 7.4, 7.5, 7.6 or 7.7 or by Customer pursuant to Section 7.7, 7.8 or 7.9, Customer shall have the right to put its interests under this Agreement in a continuing revenue stream to Provider ("Option to Put"), net of any amounts due and payable to Provider. In addition, Customer shall have the Option to Put its interests relating to either the commercial or residential End User base at any time without terminating this Agreement in relation to the other End User base. If Customer chooses to exercise its Option to Put under any of these circumstances (except for termination by Provider pursuant to Section 7.3 or 7.6), Customer shall be entitled to a Put Fee relating to its interests in the commercial and/or residential End User base(s), to be determined as follows: At the time that Customer exercises its Option to Put, Provider shall assign an Integrity Quotient ("IQ") to each of four (4) factors in connection with the commercial End User base based on the following matrix ("Matrix 1"): -------------------------------------------------------------------------------- Integrity Quotient 2 1 0 -1 TBD -------------------------------------------------------------------------------- Bad Debts <3% 3%-4% >4%-5% >5%-10% >10% -------------------------------------------------------------------------------- Revenue/End User >300 >$150-$300 >$100-$150 $25-S100 <$25 -------------------------------------------------------------------------------- Attrition <2% 2%-4% >4%-5% >5%-10% >10% -------------------------------------------------------------------------------- Gross Margin >25% >18%-25% >13%-18% 10%-13% <10% -------------------------------------------------------------------------------- and in connection with the residential End User base based on the following matrix ("Matrix 2"): -------------------------------------------------------------------------------- Integrity Quotient 2 1 0 -1 TBD -------------------------------------------------------------------------------- Bad Debts <3.5% 3.5%-5.0% >5.0%-6.5% >6.5%-10% >10% -------------------------------------------------------------------------------- Revenue/End User >$50 >$30-$50 >$15-$30 $12-$15 <$12 -------------------------------------------------------------------------------- Attrition <3% 3%-4% >4%-6% >6%-10% >10% -------------------------------------------------------------------------------- Gross Margin >25% >20%-25% >15%-20%...
Option to Put. Upon the earlier to occur of (i) May 27, 2001 or (ii) a Change in Control (the "Earlier Time"), and, in the event of a Change in Control caused by the death or disability of Frank A. Lodzinski, through the 90th day after the Purchaser receive▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇f such Change in Control, and in all other events, until May 31, 2005, the Purchaser shall have the right to sell all or a portion of its Put Securities to the Company, and the Company shall be obligated to purchase such Put Securities, at a price per share determined in accordance with Section 9.3 below; PROVIDED, that all of the Purchaser's put rights under this Article 9 shall expire and terminate upon the consummation of a Qualified Public Offering or a Cash-Out Transaction.
Option to Put. From and after the second anniversary of the Closing and until the earlier of the fifth anniversary of the Closing or the date any class of the securities of the Company become subject to the reporting requirements under the Exchange Act, the Purchaser shall have the right to sell all or a portion of its Put Securities to the Company, and the Company shall be obligated to purchase such Put Securities, at a price per share determined in accordance with Section 7.3 below.
Option to Put