Put Option Right Sample Clauses
A Put Option Right clause grants one party, typically an investor or shareholder, the contractual right to sell a specified asset—often shares or equity—back to another party at a predetermined price within a certain timeframe. In practice, this means the holder of the put option can require the counterparty to purchase their interest, providing a clear exit strategy or liquidity event. The core function of this clause is to protect the option holder from downside risk or to ensure they can divest their interest under agreed terms, thereby offering financial security and flexibility.
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Put Option Right. If a Put Option Trigger Event has occurred and not been cured on or before the ninetieth (90th) day following the occurrence thereof (other than a Put Option Trigger Event resulting under clause 6.2(a) below, as to which Medley shall have five (5) Business Days to cure such Put Option Trigger Event), then at any time for so long as such Put Option Trigger Event shall be continuing, the Fortress Investors shall be entitled, at their unanimous option, to put the Preferred Interests back to the SPVs in accordance with the following provisions (the “Put Option”).
Put Option Right. In the event a Shareholder (the “Breaching Shareholder”) should sell or attempt to sell any Equity Securities in contravention of the provisions of Section 2 of this Agreement (a “Prohibited Transfer”), the other Shareholders (the “Non-Breaching Shareholders”), in addition to such other remedies as may be available at law, in equity or hereunder, shall have the put option provided in Section 4.2 below, and the Breaching Shareholder who breached or attempted to breach such provisions shall be bound by the applicable provisions of such option.
Put Option Right. In the event a Stockholder should sell any Shares in contravention of the co-sale rights under Section 2 of this Agreement (each, a “Prohibited Transfer”), the Preferred Holders, in addition to such other remedies as may be available at law, in equity or hereunder, will have the put option provided below, and the Selling Stockholder will be bound by the applicable provisions of such option.
Put Option Right. If a Shareholder Transfers any Shares in contravention of the co-sale rights under Section 2.3 (a “Prohibited Transfer”), each Non-selling Shareholder, in addition to such other remedies as may be available at law, in equity or hereunder, shall have the put option provided below, and the Selling Shareholder shall be bound by the applicable provisions of such option.
Put Option Right. 7.1 If M▇ ▇▇▇▇▇▇ ▇▇▇▇ resigns from his employment within the Group or his employment is terminated for whatever reason, Helmet shall have the right to request that 5▇▇.▇▇▇, on one occasion, purchases all or some of the shares of the Company then held by Helmet (“Sale Shares”) by delivering notice to 5▇▇.▇▇▇ (“Transfer Notice”). Such right shall be exercisable within 1 year from the resignation mentioned above (“Put Option Right Period”), however such right shall not be exercisable if M▇ ▇▇▇▇▇▇ ▇▇▇▇ resigns before 31 December 2018. Upon delivery of the Transfer Notice, 5▇▇.▇▇▇ shall be obligated to buy the amount of shares demanded in the Transfer Notice.
7.2 The Transfer Notice shall contain all material terms of the proposed sale, including the terms of payment and the number and description of the ordinary shares to be acquired by 5▇▇.▇▇▇.
7.3 Upon the delivery of the Transfer Notice, the Parties shall, within 30 Business Days, establish a fair market value as the purchase price for the Sale Shares, and if the Parties fail to reach such agreement during such period (after good faith negotiations as to what is the fair market value for the Sale Shares), the fair market value of the Sale Shares shall be decided by an independent valuation expert, appointed by the Parties or if the Parties are not able to decide, appointed in accordance with Clause 19. The valuation expert shall be experienced in valuing businesses such as the Company. The price of the Shares shall be assessed as of the date of the Transfer Notice and shall correspond to their proportionate part of the Company’s (including all subsidiaries and other companies owned by the Company) total market value. Hence, there shall be no minority share discount. The valuation expert shall base his decision on information provided by the Parties. The decision of the valuation expert shall, to the extent practically possible, be provided within 30 days from his appointment. The fee of the valuation expert shall be borne by 5▇▇.▇▇▇. The decision of the valuation expert shall be final and binding on the Parties. However, the purchase price of the Sale Shares shall always be the higher of (i) the fair market value provided by the valuation expert or (ii) the value as it was agreed in the Share Purchase Agreement regarding the Shares.
7.4 The purchase price to be paid by 5▇▇.▇▇▇ for the Sale Shares shall be payable in cash.
7.5 After the lapse of the Put Option Right Period, 5▇▇.▇▇▇ shall have no obligation t...
Put Option Right. If the Financial Information is not delivered in accordance with Section 7.2(f) and Schedule F on or before July 31, 2025 (the “Put Option Trigger Date”), Neural shall have the right, but not the obligation, to exercise an option (the “Put Option”) returning all of the Amalco A Shares, which it owns pursuant to Amalgamation A to CWE or a designated affiliate of CWE in exchange for a secured convertible promissory note (the “Put Note”).
Put Option Right. In the event that neither a public offering of the Shares as described in Section 2.6(d) nor a sale of substantially all of the assets of or equity interests in the Company has occurred (each a “Liquidity Event”) by, or if neither the Company nor the Majority Stockholder, as applicable, has entered into binding agreements or a letter of intent to consummate a Liquidity Event (each a “Commitment”) that remain in effect on, the third anniversary date of this Agreement (the “Third Anniversary Date”), or if the transactions contemplated by a Commitment that was in effect on the Third Anniversary Date are not