Put Option Payment Sample Clauses

Put Option Payment. If a holder of Preferred Shares exercises a Put Option by timely delivery of a Put Option Exercise Notice, the Company shall deliver to such holder, by wire transfer of immediately available funds to an account specified by such holder in the Put Option Exercise Notice, the amount of the Put Option Exercise Price for each Preferred Share to be repurchased by the Company on the date specified in the Put Option Exercise Notice, so long as such date is consistent with the provisions of Section 5(b) (the "PUT OPTION CLOSING DATE"). Upon delivery of the payment of the Put Option Exercise Price as provided herein, such Preferred Shares shall no longer be deemed outstanding, all rights whatsoever with respect to such Preferred Shares shall terminate and the certificates, if any, evidencing the shares shall be delivered to the Company for cancellation. In the event that the Put Option is not honored or the Put Option Exercise Price is not paid in full on the Put Option Closing Date for any reason and such default is not cured within 90 days (except in connection with a Change of Control or the Failure of the Company to Maintain REIT Status, in either of which cases no grace period shall apply), then the Put Option Exercise Price for each Preferred Share which is the subject of the Put Option shall be increased to the Increased Put Payment (if such amount is greater than the Put Option Exercise Price otherwise payable).
Sample 1
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Put Option Payment. If the Put Limited Partner exercises a Put Option by timely delivery of a Put Option Exercise Notice, the Partnership shall deliver to the Put Limited Partner, at the address specified in the Put Option Exercise Notice, a check in the amount of the Put Option Exercise Price not later than 45 days following the date on which the Put Option Exercise Notice is given to the Partnership (the "Put Option Closing Date"). Upon (i) the mailing or (ii) the
Sample 1
Put Option Payment. If the Put Limited Partner exercises a Put Option by timely delivery of a Put Option Exercise Notice, the Partnership shall deliver to the Put Limited Partner, at the address specified in the Put Option Exercise Notice, a check in the amount of the Put Option Exercise Price not later than 45 days following the date on which the Put Option Exercise Notice is given to the Partnership (the "Put Option Closing Date"). Upon (i) the mailing or (ii) the personal delivery of the payment of the Put Option Exercise Price as provided herein, such Put Units shall no longer be deemed outstanding, the holders thereof shall cease to be Limited Partners of the Partnership, and all rights whatsoever with respect to the Put Units (except the right of the Put Limited Partners to receive the Put Option Exercise Price without interest) shall terminate. The exercise of a Put Option and the payment of the Put Option Exercise Price, shall not be subject to Sections 5.1(a), 9.2(g) or 10.2(g) hereof.
Sample 1
Put Option Payment. (a) The A.M. Castle Parties and the Commitment Parties hereby acknowledge that, in consideration for the Commitment Parties’ agreements herein and the A.M. Castle Parties’ right pursuant to the Commitments of the Commitment Parties to put the New Money Notes to the Commitment Parties, the A.M. Castle Parties shall pay or cause to be paid a nonrefundable aggregate fee in cash in an amount equal to $2.0 million to the Commitment Parties or their designees on a pro rata basis based upon their respective Commitment Percentages at the time such payment is made (the “Put Option Payment”); provided, however, no Defaulting Commitment Party shall be entitled to receive any Put Option Payment and any Non-Defaulting Commitment Party that purchases Default Notes shall be entitled to receive an additional Put Option Payment in an aggregate amount equal to the product of (a) the amount of the Put Option Payment that would have been issued to the applicable Defaulting Commitment Party if such Defaulting Commitment Party had not committed a Funding Default and (b) a fraction, the numerator of which is the aggregate principal amount of Default Notes which such Non-Defaulting Commitment Party purchases and the denominator of which is the aggregate principal amount of Default Notes of such Defaulting Commitment Party. (b) The Put Option Payment (including any portion thereof attributable to a Non-Defaulting Commitment Party’s purchase of Default Notes) shall be fully earned, nonrefundable and non-avoidable, upon execution of this Agreement by each of the Parties, and shall be due and payable in cash by A.M. Castle, free and clear of any withholding or deduction for any applicable Taxes, upon the execution of this Agreement; provided, however, that if the Restructuring is consummated through the Chapter 11 Cases, the Put Option Payment shall be payable in cash by A.M. Castle, free and clear of any withholding or deduction for any applicable Taxes, upon the earlier of (i) the Effective Date and (ii) termination of this Agreement in accordance with Article IX, except for any termination of this Agreement in accordance with Section 9.2(b) or Section 9.2
Sample 1
Put Option Payment. The A.M. Castle Parties shall have paid the Put Option Payment in accordance with Section 3.1, and no portion of the Put Option Payment shall have been invalidated or avoided.
Sample 1

Related to Put Option Payment

  • Consideration Payment 5.1 In consideration of the Company’s Services, the Client shall pay to the Company the Consideration to be stipulated in the Termsheet and all reasonable out of pocket expenses (if any) in accordance with the commercial terms and payment terms as detailed in the Separate Agreement. 5.2 The Company shall send its staff to check for the quality of completion of the Project(s) together with the Client. The Client shall pay for the Company’s Services within 90 days upon the completion of the Project(s) to the satisfaction of the Client. 5.3 The Company shall be entitled to the receivables from the Client for the percentage of Work completed. The date of payment of such Work is stated in the Termsheets and unless the Company is not satisfied with the quality of Work completed and/or the Client has not fulfilled the terms and conditions specified under the Termsheets.

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).

  • Retention Payment Subject to your compliance with Sections 6 and 7 of this letter agreement, if you remain an active full-time employee of the Company, Parent or any of their respective subsidiaries through the expiration of the 6-month period beginning on the day following the Closing Date (as defined in the Merger Agreement) (the “Vesting Date”), you will receive a cash payment equal to (i) the aggregate amount described in Section 6.2(a) of the Employment Agreement, determined as if your employment with the Company was terminated by the Company without Cause as of the Closing plus (ii) an amount equal to the portion of the premiums the Company would need to pay to provide you with the benefits under Sections 6.2(b) and (c) for the 12 month period following the Vesting Date, based on the premium costs in effect as of the Closing and assuming for this purpose that your employment terminated on the Vesting Date and that you timely elected to receive all such benefits, plus (iii) the Retention Bonus. The aggregate of these amounts will be paid to you in a lump sum on the third business day following the Release Effective Date (as defined below). You hereby agree that, notwithstanding anything contained in the Employment Agreement or any other agreement between you and the Company providing for severance or separation payments or benefits, you may either receive payment of amounts set forth in Section 2(a) or in Section 4, but in no event shall you be entitled to receive payment of both amounts; furthermore, you shall not be entitled to any severance or separation payments or benefits under the Employment Agreement (including under Sections 5 and 6 thereof) or under any other plan, program, policy, agreement or arrangement maintained by the Company, Parent or any of their respective affiliates, and all of your rights to such payments and benefits under the Employment Agreement and any such other plan, program, policy, agreement or arrangement will immediately terminate, in each case, except as otherwise provided herein. If you continue to be employed by Parent or its subsidiaries following the Vesting Date, you shall be eligible for severance benefits under either the applicable severance policy of Parent or one of its subsidiaries, as determined by Parent; provided, however, that you shall not receive credit for your service with Parent or the Company, or any of their respective subsidiaries, for the periods of employment that precede the Closing Date for any purpose under such policy, including eligibility, vesting or calculation of benefits.

  • Separation Payment An ASF Member shall be compensated at the final rate of pay for all unused, accumulated vacation, leave time upon separation from state service, or movement to a vacation ineligible position. An employee on an unpaid leave of absence of more than one (1) year for a purpose other than accepting an unclassified position in state civil service, or an employee on layoff that results in separation from service, may elect to be compensated at the final rate of pay for unused accumulated vacation leave. This accumulated vacation payout shall not exceed two hundred and seventy-five (275) hours, except in the case of the ASF Member's death. Calculation of an ASF Member's hourly rate for purposes of computing vacation separation payment shall be based upon a base of two thousand eighty-eight (2,088) working hours per year. Appointment periods of less than one (1) year in duration shall be prorated on this basis. Except as provided in Article 16, Section C, Subdivision 4 which pertains to the separation payment to retirees, the separation payment will be made in cash.

  • Down Payment The Mortgagor has contributed at least 5% of the purchase price for the Mortgaged Property with his/her own funds.

  • Contribution Payment To the extent the indemnification provided for under any provision of this Agreement is determined (in the manner hereinabove provided) not to be permitted under applicable law, the Company, in lieu of indemnifying Indemnitee, shall, to the extent permitted by law, contribute to the amount of any and all Indemnifiable Liabilities incurred or paid by Indemnitee for which such indemnification is not permitted. The amount the Company contributes shall be in such proportion as is appropriate to reflect the relative fault of Indemnitee, on the one hand, and of the Company and any and all other parties (including officers and directors of the Company other than Indemnitee) who may be at fault (collectively, including the Company, the "Third Parties"), on the other hand.

  • Redemption Payments Upon receipt of monies paid to it by the Custodian with respect to any redemption of Series shares, pay or cause such monies to be paid pursuant to instructions by the appropriate Account or Institution.

  • Non-Payment The Borrower or any other Loan Party fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan or any L/C Obligation, or (ii) within three days after the same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or (iii) within five days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or

  • CONDITIONAL UPON PAYMENT 12.1 Where applicable, You agree that this Agreement is conditional upon Apollo being paid by the Travel Agent or Travel Wholesaler (Agent) who arranged this Agreement on Your behalf. You must pay Apollo any shortfall in the amount paid by You to the Agent and the amount that should have been paid to Apollo based on the applicable standard gross rental rate in respect of the Vehicle for the rental period.

  • Cash Payment The Employee shall make cash payments by wire transfer, certified or bank check or personal check, in each case payable to the order of the Company; the Company shall not be required to deliver certificates for Option Shares until the Company has confirmed the receipt of good and available funds in payment of the purchase price thereof.

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