Put Right Notice Sample Clauses
A Put Right Notice clause defines the process by which a party can formally notify the other party of its intention to exercise a contractual right to sell its interest or shares back to the other party or to a third party. Typically, this clause outlines the required contents of the notice, the method of delivery, and the timeframe within which the notice must be given. By establishing clear procedures for exercising put rights, the clause ensures transparency and predictability, helping to prevent disputes and misunderstandings regarding the sale or transfer of interests.
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Put Right Notice. Not more than five Business Days after the Put Right Acquisition Date, the Company will give to all holders of Notes a written notice (the “Put Right Notice”) of the happening of such date, which notice shall:
(i) contain a copy of the Designated Event Notice;
(ii) set forth in reasonable detail the computation of the Debt Ratio determined as of the Put Right Acquisition Date;
(iii) confirm that the holders of Notes have irrevocably acquired the Put Right and shall set forth in reasonable detail the manner in which such Put Right may be exercised;
(iv) designate the Repayment Date; and
(v) if the Put Right Acquisition Date occurs before November 16, 1995, confirm that the interest rate on the Notes has been adjusted and stating the new rate of interest and the period during which such interest rate shall be applicable.