Payment of Option Consideration. Promptly following (but in no event less than two Business Days after) the Effective Time, Parent shall deposit, or cause to be deposited with the Surviving Corporation cash in an aggregate amount, together with any cash in the Company’s bank accounts immediately prior to the Closing, equal to the aggregate Option Consideration payable to all Optionholders pursuant to Section 3.01(d). The Option Consideration shall be paid by the Company through its payroll system (to the extent practicable), or if not practicable checks for such payment shall be drawn by the Surviving Corporation and sent by overnight courier to the holder’s last address on the Company’s records, in each case, as soon as reasonably practicable after the Effective Time.
Payment of Option Consideration. Immediately prior to the Effective Time, CBI, subject to a review of the calculation by NewAlliance, shall issue and deliver a check representing the Option Price to the holders of the Options, all of which Options shall have been cancelled in connection with Section 3.1.4 above.
Payment of Option Consideration. Any payment of Option Consideration required to be made to a holder of Company Options pursuant to this Agreement shall be paid by Parent first to the Surviving Corporation for payment to such holder, subject to Section 1.18, as follows: (x) that portion of the Option Consideration payable in respect of Employee Options to the holders of such Employee Options through the Surviving Corporation’s payroll system, and (y) that portion of the Option Consideration then payable in respect of Non-Employee Options to the holders of such Non-Employee Options to the Surviving Corporation through its accounts payable.
Payment of Option Consideration. As promptly as practicable following the Closing (or, in the case of any Option holder who is not also a Seller, promptly following the later of the Closing and the receipt from such Option holder of an Option Cancellation Agreement, and subject to such receipt), the Buyer shall cause the Company to pay to such Option holder, by wire transfer of immediately available funds to an account designated by such Option holder at least two Business Days prior to such payment (or, if no such account is so designated, by bank check for immediately available funds), an amount equal to (x) the Option Consideration payable to such Option holder pursuant to Section 2.2 minus (y) such Option holder’s Transaction Percentage of the Escrow Amount minus (z) such Option holder’s Transaction Percentage of any Reserve Holdback (provided that the deductions described in clauses (y) and (z) shall not be made to the extent the Escrow Amount or a Reserve Holdback was deducted from the amounts payable to such Option holder pursuant to Section 2.5(f)).
Payment of Option Consideration. Parent shall pay, and shall cause the Surviving Corporation to promptly pay, through the Surviving Corporation’s payroll system in the case of Option Holders who are or were employees, to each Option Holder the amount of Option Consideration that such Option Holder has the right to receive pursuant to Section 2.2(d)(i). No interest shall be paid or accrue on any cash payable pursuant to this Section 2.6(b).
Payment of Option Consideration. As soon as administratively practicable and, in any event, no later than the date of the second regularly scheduled payroll date following the Closing Date, Parent shall cause the applicable portion of the Estimated Closing Option Consideration payable hereunder to Company Optionholders to be paid by the Surviving Company as follows: (i) with respect to Estimated Closing Option Consideration payable to Company Optionholders who are current or former non-employee directors, consultants or independent contractors of the Company, to the account(s) designated by such Company Optionholders by means of wire transfer of immediately available funds (if any, as applicable), and (ii) with respect to the applicable portion of the Estimated Closing Option Consideration payable to all other Company Optionholders, through the Surviving Company’s payroll system, subject to withholding in accordance with Section 3.4. The Surviving Company shall timely remit the employer portion of any payroll Taxes attributable to the payment of any Estimated Closing Option Consideration or Additional Option Consideration to the applicable Governmental Entity.
Payment of Option Consideration. As promptly as practicable after the Effective Time, but in no event later than ten (10) days after the Closing Date, Buyer shall pay to the record holder of any Mercer Stock Options who is an employee or former employee of Mercer or any Mercer Subsidiary an amount equal to the Option Consideration to which such holder of Mercer Stock Options is entitled under Section 2.6(c). Provided that if funds are deposited by Buyer with Xxxxxx’x payroll provider, such payment shall be made by Xxxxxx pursuant to its payroll process. With respect to any Mercer Stock Options held by any Person who is not an employee or former employee of Mercer or any Mercer Subsidiary, as promptly as practicable after the Effective Time, but in no event later than ten (10) days after the Closing Date, Buyer or the Exchange Agent shall send, by United States first class mail a check for the Option Consideration to which such holder of Xxxxxx Stock Options is entitled under Section 2.6(c).
Payment of Option Consideration. Each Management Investor agrees, and authorizes MQ and MEDIQ to instruct the exchange agent appointed by them to disburse the Option Consideration, to withhold from the Option Consideration payable to each Management Investor an amount of cash equal to the purchase price required to be paid by such Management Investor pursuant to Article I for the shares purchased by such Management Investor and to pay over such withheld amount to the Company as the purchase price required to be paid by such Management Investor pursuant to Article I.
Payment of Option Consideration. At the Closing, the Buyer shall pay (or cause to be paid), by wire transfer of immediately available funds to an account of the Company in trust for the benefit of the Optionholders as specified in the Consideration Disbursement Schedule, in consideration for the cancellation of all Options outstanding immediately prior to the Interim Effective Time, an amount in cash equal to the amount calculated pursuant to Section 2.4(a) (and as indicated on the Consideration Disbursement Schedule). No later than three Business Days following the earlier of (i) for each Optionholder who has delivered to the Buyer his or her executed Acknowledgment and Release prior to the Closing, the Closing Date and (ii) for each Optionholder who delivers to the Buyer his or her executed Acknowledgment and Release after the Closing, the date on which the Buyer receives an executed Acknowledgment and Release, the Company shall pay (or cause to be paid) to the Optionholders through the Company’s payroll system the amount payable to them pursuant to Section 2.4(a) (and as indicated on the Consideration Disbursement Schedule).
Payment of Option Consideration. Payment of the Option Consideration shall be deferred until the closing of each Lot. Upon closing of each of the Lots by Optionee, or by a third party designated by Optionee, ten (10%) percent of the proceeds shall be applied to the accrued Option Consideration until paid in full. Should Optionee not extend the Option Period or upon default by Optionee under any loan obligation to Shepherd’s Finance, or upon three (3) years from the date hereof, whichever occurs first, all accrued and unpaid Option Consideration will be immediately due and paid in full.
