Put Exercise Procedure. To exercise the Put, the Holder must (i) surrender to the Put/Call Agent (at its office designated for such purpose, the initial address of such office being listed in Section 6.01 hereof) the certificate or certificates representing the Notes to be exchanged together with the Put Exercise Notice duly completed and executed, (ii) deliver a form of transfer in the form specified by the Notes executed by the Holder with the name of the transferee left blank and (iii) pay any transfer or similar tax required to be paid by the Holder pursuant to Section 2.04. The date on which the Holder satisfies all the requirements for exercise of the Put is referred to as the “Put Date.” As soon as practicable after the Put Date, the Company will cause the Put/Call Agent to deliver to the Holder in exchange for the Notes (or, pursuant to this Section 2.02, a portion thereof) as to which the Put has been exercised a certificate (or other evidence of ownership) ,for the number of full shares of Common Stock issuable upon the exercise of the Put and cash in lieu of any fractional share determined pursuant to Section 2.03. The person in whose name the certificate is registered shall be treated as a stockholder of record on and after the Put Date, and such person, following the exchange of the relevant Note or part thereof in accordance herewith, shall no longer be a Holder of the Notes as to which the Put has been exercised as of such date. If the Holder exercises the Put for more than one Note at the same time, the number of shares of Common Stock issuable upon exchange of the Notes shall be based on the total nominal amount of the Notes exchanged. Upon surrender of a Note that is exchanged in part, the Company will execute and deliver to the Holder a Note certificate in an authorized denomination equal in nominal amount to the unexchanged portion of the Note surrendered.
Put Exercise Procedure. (a) The Company will satisfy the Put Value Obligation with respect to each $1,000 principal amount of Notes put to the Company by delivering, on the third Business Day immediately following the last day of the Observation Period for the related Put Exercise Date, a number of shares of Common Stock equal to the sum of the quotients obtained by dividing (i) the Daily Put Values for each of the 10 VWAP Trading Days during such Observation Period by (ii) the Daily VWAP for such VWAP Trading Day, provided that the Company will deliver cash in lieu of fractional shares of Common Stock as set forth pursuant to clause (k) below. The Daily Put Values shall be determined by the Company following the last day of the Observation Period.
Put Exercise Procedure. If a Non-NIC Shareholder wishes to exercise its right to put provided for by SECTION 2.2(a), that Non-NIC Shareholder shall promptly deliver written notice of its election to exercise to NIC and initiate a procedure, if any, required to determine the Put Exercise Price. The date upon which its written notice of exercise was delivered shall be the "Put Exercise Date." The closing with respect to any exercise of a Non-NIC Shareholder Put shall take place at the principal offices of the Company on the tenth business day following the final determination of the Put Exercise Price; provided, however, that all orders, consents and approvals of governmental authorities legally required for the closing of such sale shall have been obtained and be in effect. At such closing, in exchange for full payment of the Put Exercise Price, as provided in SECTION 2.2(b), that Non-NIC Shareholder shall deliver to NIC all of the Shares held by it free and clear of all liens and encumbrances of any nature. NIC shall exercise commercially reasonable efforts to promptly obtain all orders, consents and approvals of governmental authorities legally required in light of the transactions to take place at such closing.
Put Exercise Procedure. (a) Unless the Company exercises its Net Share Settlement Option as set forth in Section 13.03, the Company will satisfy the Put Value Obligation with respect to each $1,000 principal amount of Notes put to the Company, by delivering, on the third Business Day immediately following the last day of the Observation Period for the related Put Exercise Date, cash equal to the sum of the Daily Put Values for each of the 30 VWAP Trading Days during such Observation Period. If the Company exercises its Net Share Settlement Option as set forth in Section 13.03, the Company shall satisfy the Put Value Obligation with respect to each $1,000 principal amount of Notes put to the Company by delivering, on the third Business Day immediately following the last day of the Observation Period for the related Put Exercise Date, cash and shares of Common Stock, if any, equal to the sum of the Daily Settlement Amounts for each of the 30 VWAP Trading Days during such Observation Period; provided that the Company will deliver cash in lieu of fractional shares of Common Stock as set forth pursuant to clause (k) below. The Daily Put Values and the Daily Settlement Amounts shall be determined by the Company promptly following the last day of the related Observation Period.
