Common use of Profit Limitation Clause in Contracts

Profit Limitation. (a) Notwithstanding any other provision of this Agreement, in no event shall the Grantee's Total Profit (as hereinafter defined) exceed $125 million (the "Profit Limit") and, if it otherwise would exceed such amount, the Grantee, at its sole election, shall either (i) deliver to the Grantor for cancellation Shares previously purchased by Grantee, (ii) pay cash or other consideration to the Grantor, or (iii) undertake any combination thereof, so that Grantee's Total Profit shall not exceed the Profit Limit after taking into account the foregoing actions.

Appears in 2 contracts

Samples: Viking Stock Option Agreement (Office Depot Inc), Viking Stock Option Agreement (Viking Office Products Inc)

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Profit Limitation. (a) Notwithstanding any other provision of this Agreement, in no event shall the Grantee's Total Profit (as hereinafter defined) exceed $125 million 120,000,000 (the "Profit Limit") and, if it otherwise would exceed such amount, the Grantee, at its sole election, shall either (i) deliver to the Grantor for cancellation Shares previously purchased by Grantee, (ii) pay cash or other consideration to the Grantor, Grantor or (iii) undertake any combination thereof, so that Grantee's Total Profit shall not exceed the Profit Limit after taking into account the foregoing actions.

Appears in 2 contracts

Samples: Consent and Voting Agreement (Excelcom Inc), Excel Stock Option Agreement (Teleglobe Inc)

Profit Limitation. (a) Notwithstanding any other provision of this Agreement, in no event shall the Grantee's =s Total Profit (as hereinafter defined) exceed $125 5 million (the "Profit Limit") and, if it otherwise would exceed such amount, the Grantee, at its sole election, shall either (i) deliver to the Grantor for cancellation Shares previously purchased by Grantee, (ii) pay cash or other consideration to the Grantor, (iii) receive a smaller termination fee under Section 8.3 of the Merger Agreement or (iiiiv) undertake any combination thereof, so that Grantee's =s Total Profit shall not exceed the Profit Limit after taking into account the foregoing actions.

Appears in 1 contract

Samples: Stock Option Agreement (Prodigy Communications Corp)

Profit Limitation. (a) Notwithstanding any other provision of this Agreement, in no event shall the Grantee's Total Profit (as hereinafter defined) exceed $125 225 million (the "Profit Limit") and, if it otherwise would exceed such amount, the Grantee, at its sole election, shall either (i) deliver to the Grantor Parent for cancellation Option Shares previously purchased by GranteeParent, (ii) pay cash or other consideration to the Grantor, Parent or (iii) undertake any combination thereof, so that the Grantee's Total Profit shall not exceed the Profit Limit 225 million after taking into account the foregoing actions.

Appears in 1 contract

Samples: Stock Option Agreement (Dresser Industries Inc /De/)

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Profit Limitation. (a) Notwithstanding any other provision of this Agreement, in no event shall the Grantee's Total Profit (as hereinafter defined) exceed $125 million U.S.$120,000,000 (the "Profit Limit") and, if it otherwise would exceed such amount, the Grantee, at its sole election, shall either (i) deliver to the Grantor for cancellation Shares previously purchased by Grantee, (ii) pay cash or other consideration to the Grantor, Grantor or (iii) undertake any combination thereof, so that Grantee's Total Profit shall not exceed the Profit Limit after taking into account the foregoing actions.

Appears in 1 contract

Samples: Consent and Voting Agreement (Excelcom Inc)

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