Call Interest definition
Examples of Call Interest in a sentence
The cost of determining the Appraised Value (A) in the case of the purchase and sale of a Call Interest shall be borne by the Company, and (B) in the case of the purchase and sale of a Put Interest shall be borne 50% by the Company and 50% by the Terminated Member.
The Call Notice shall specify the time (which shall not be more than twenty-one (21) days following the determination of the Appraised Value) and place for closing the purchase of the Call Interest.
After March 31, 2008, AMIC shall have the right to purchase all (but not less than all) of the Membership Interests owned by the Minority Members (each, a "Call Right") for the Call Interest Price.
For all purposes of this Agreement, BreitBurn shall be deemed to have waived any Environmental Defect which BreitBurn fails to timely and properly assert as an Environmental Defect by an Environmental Defect Notice received by Quicksilver on or before the Title Claim Date.
Otherwise, the Call Interest Price shall be the EBIT Price for Fiscal Year 2007 plus Profit Sharing attributable to such Initial Officer.
For the purposes of this Section 7.7, the term “Call Price” shall mean an amount equal to the product of (A) the Exit Valuation Amount, less the outstanding principal balance of the Loans as of the Call Interest Closing Date, and (B) the Call Interest.
In the event of a Termination Call, AMIC shall have the right to purchase all (but not less than all) of the applicable Initial Officer Pro Rata Interest of each of the Minority Members' Membership Interest for the Call Interest Price (as defined below) for the thirty day period beginning on the date of termination of such Initial Officer's employment and ending thirty days thereafter.
The closing of the purchase of the Call Interest pursuant to the Call Right (the “Call Closing”) shall take place no later than thirty (30) days following the determination of the Call Purchase Price.
All covenants, agreements, representations and warranties made herein shall survive the execution and delivery hereof and transfer of any Put Interest or Call Interest.
AMIC shall deliver at the closing payment in full of the Call Interest Price, as described below, provided that if a Termination Put is triggered within 90 days after the end of a Fiscal Year, AMIC may defer payment until the earlier of (i) 2 business days after the Company's financial statements for the Fiscal Year are completed or (ii) the 2nd business day after that 90th day.