Buy-Out definition

Buy-Out means the purchase of at least a controlling percentage of a company’s equity from the current shareholders to take over its assets and operations;

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Buy-Out has the meaning set forth in Section 8.1.23.

Buy-Out means that a course release has been given so the faculty member can work on a sponsored grant. The corresponding percentage of the person’s appointment is charged directly to the grant account during the term of the buy‐out. In effect, the grant “buys” the faculty member’s released time by paying for that portion of his/her salary so that the equivalent amount of effort can be spent working on the grant. Standard practice for determining the cost of a course release, and a method consonant with federal grants, is to calculate the cost based on a percentage of the faculty member’s salary (the individual for whom the course is bought out) rather than the replacement cost for the course.

Examples of Buy-Out in a sentence

• Notwithstanding anything contained herein to the contrary, if any portion of the Undisputed Buy-Out Portion due to Distributor remains outstanding from Company as of the effective date of termination, or as of the expiration of the foregoing [***] period, as applicable, this Agreement shall remain in full force and effect and shall only be deemed terminated upon Company’s payment to Distributor of the Undisputed Buy-Out Portion, in full.

• Notwithstanding anything contained herein to the contrary, in the event that either Party is prevented from performing any of its material obligations under this Agreement because of a Force Majeure Event, and such failure continues for more than [***], the Party which is not prevented from performance may terminate this Agreement without the payment of any Buy-Out, liquidated damages or other penalty.

• Company shall pay the Undisputed Buy-Out Portion to Distributor no later than the effective date of termination (or, if the effective date of termination is less than [***] from the date of notice of termination, no later than [***] from the date of notice of termination) and the Parties shall in good faith work to settle the Disputed Buy-Out Portion no later than the [***] from the date of notice, no later than [***] from the date of notice of termination from Distributor).

• For the avoidance of doubt, no Buy-Out shall be payable to Distributor upon (i) Distributor’s termination of this Agreement without cause pursuant to Section 3.2(b) or (ii) Company’s termination of this Agreement With Cause.

• During the Captaincy Period, in the event that a Buy-Out (as defined in the U.S. Distribution Agreement) becomes due pursuant to Section 3.3(a)(i)(B) or Section 3.3(a)(ii) of the U.S. Distribution Agreement, the amount of such Buy-Out shall be deemed to be increased by [***].

More Definitions of Buy-Out

Buy-Out means paying someone to give up ownership;

Buy-Out will have the meaning set forth in the Investor Rights Agreement.

Buy-Out or "Ordinary Course Buy-Out" shall have the meaning set forth in Section 50.9(i) of this Agreement and Paragraph 13 of the SPC.

Buy-Out means the purchase of the Facility by the CEB upon the occurrence of a Buy-Out Event;

Buy-Out means that a course release is being allowed so the faculty member can dedicate a portion of effort to an externally funded sponsored project. The corresponding percentage of the person’s appointment is charged directly to the grant account during the term of the buy-out. In effect, the grant “buys” the faculty member’s released time by paying for that portion of the faculty member’s salary so that the equivalent amount of effort can be spent working on the sponsored project. Funds collected from the grant for course buy-out salary and fringe shall be allocated to OAFA salary line to fund replacement costs. Funds collected from the grant for indirect costs shall be allocated 50% to the Colleges and 50% to OAFA. Standard practice for determining the cost of a course release, and a method consonant with federal grants, is to calculate the cost based on a percentage of the faculty member’s salary (the individual for whom the course is bought out) rather than the replacement cost for the course.

Buy-Out means the purchase of the Wind Farm Facility by the CEB upon the occurrence of a Buy-Out Event;

Buy-Out will have the meaning set forth in the LLC Agreement.