Put Agreement Sample Clauses
A Put Agreement clause grants one party the right to require another party to purchase a specified asset, such as shares or property, at a predetermined price or under certain conditions. Typically, this clause outlines the process for exercising the put option, including notice requirements and the method for determining the purchase price. Its core practical function is to provide the holder with a clear exit strategy or liquidity option, thereby managing investment risk and ensuring predictability in business arrangements.
Put Agreement. (a) The Company hereby irrevocably grants and issues to Holder the right and option to sell to the Company (the "Put") this Warrant for a period of 30 days immediately prior to the expiration thereof, at a purchase price (the "Purchase Price") equal to the Fair Market Value (as hereinafter defined) of the shares of Common Stock issuable to Holder upon exercise of this Warrant.
(b) The Purchase Price shall be paid to Holder by the Company, as follows:
(i) one third of the Purchase Price shall be paid in cash within thirty (30) days of the receipt of written notice from Holder of its intention to exercise the Put (the "Closing Date"),
(ii) On the Closing Date, the Company shall deliver a promissory note to Holder, in substantially the form of the Note, which evidences the remaining balance of the Purchase Price and provides for: (A) two (2) equal installment payments of principal with the first installment due on the six (6) month anniversary date of the promissory note and the second installment due on the first anniversary date of the promissory note; (B) interest to accrue on the outstanding principal balance at thirteen and one half percent (13.5%) per annum and payable monthly; (C) the promissory note to be secured by all of the Shares transferred by the Holder pursuant to the Put; and (D) the Company to have the right to prepay the promissory note in part or in full at any time and from time to time. The aggregate number of shares that may be sold to the Company pursuant to this Section may be decreased to the extent that the consideration to be paid by the Company for the shares would exceed the "surplus" of the Company (as defined in Section 154 of the Delaware General Corporation Law).
(c) The Fair Market Value of the shares of Common Stock of the Company issuable pursuant to this Warrant shall be determined as follows:
(i) The Company and the Holder shall each appoint an independent, experienced appraiser who is a member of a recognized professional association of business appraisers. The two appraisers shall determine the value of the shares of Common Stock which would be issued upon the exercise of the Warrant, assuming that the sale would be between a willing buyer and a willing seller, both of whom have full knowledge of the financial and other affairs of the Company, and neither of whom is under any compulsion to sell or to buy.
(ii) If the highest of the two appraisals is not more than 10% more than the lowest of the appraisals, the Fair Mark...
Put Agreement. The Put Agreement, duly executed and delivered by the State Auto Obligors and the Agent.
Put Agreement. Purchaser and Sellers shall enter into the Put Agreement.
Put Agreement. The Company hereby irrevocably grants and issues to Holder the right and option to sell to the Company (the “Put”) during the Put Period (as hereinafter defined), at a purchase price (the “Put Price”) equal to the Fair Market Value (as determined under subsection (c) below) of the shares of Common Stock issuable to Holder upon exercise of this Warrant less the Exercise Price. Capitalized terms not otherwise defined in this Section shall have the meaning ascribed to them in the Loan Agreement.
Put Agreement. The Put Agreement shall be in full force and effect and enforceable in accordance with its terms.
Put Agreement. The Put Agreement shall be in full force and effect and Purchaser shall not be in breach of the Put Agreement.
Put Agreement. Purchaser hereby grants to Seller a "put" to sell to Purchaser its remaining 1,000,000 shares of ORA Common Stock at the put price of $3.00 per share, commencing 12 months from the date of this Agreement as follows: At any time after the ORA Common Stock has traded at a bid price of at least $4.50 per share for a period of ten (10) consecutive trading days, Seller shall have the right to "put" the remaining 1,000,000 shares to Purchaser at a price of $3.00 per share. Purchaser shall make four (4) equal quarterly payments of $750,000 to Seller commencing 15 days after written notice of the "put" to pay for the shares.
Put Agreement. The Put Agreement duly executed by BII.
Put Agreement. On or after January 31, 1998 and prior to February 15, 1998, Seller shall have the right to require Purchaser to purchase the Shares, and Seller shall sell the Shares, upon written notice to Purchaser (the "Put Notice"), at a price of $2.50 per share (the "Purchase Price"). Upon receipt of the Put Notice, Purchaser shall purchase the Shares at the Purchase Price per Share; provided, however, that if Purchaser has not consummated the sale of its radio stations to Global Broadcasting Company, Inc. pursuant to an Asset Purchase Agreement dated July 16, 1997, Purchaser may, upon giving written notice to Seller within five (5) business days following its receipt of the Put Notice, postpone the purchase of the Shares to not later than 5:00 p.m., Minneapolis time, on March 31, 1998 (the "Extension Date"). Notwithstanding the foregoing, if at any time prior to Seller's giving the Put Notice to Purchaser, the closing sale price of a Share of common stock of HHI as quoted or published by Nasdaq, or by such other quotation system or exchange on which the common stock of HHI may be listed or published, shall equal or exceed $2.50 per Share (as adjusted for any stock splits or dividends or other recapitalization events), for at least ten consecutive trading days the right of Seller to require Purchaser to purchase the Shares pursuant to this Agreement, or otherwise, shall terminate.
Put Agreement. “Put Agreement” shall mean the put agreement between [***], Mosaic Feeder L.P., and the General Partner dated as of March 4, 2020, as such agreement may be modified from time to time pursuant to its terms.