Examples of Cash Option Payment in a sentence
Prior to the Effective Time, ABNJ shall obtain the written consent of each option holder to the cancellation of the ABNJ Options in exchange for the Cash Option Payment.
Prior to the Effective Time, GLB shall use its reasonably best efforts to obtain the written consent of each option holder to the cancellation of the GLB Options in exchange for the Cash Option Payment, provided that the failure to obtain each consent shall not be a breach of this agreement, provided further that the execution of this Agreement confirms the agreement of Xxxxxx X.
Prior to the Effective Time, Allegiance Bank shall obtain the written consent of each option holder to the cancellation of the Allegiance Bank Options in exchange for the Cash Option Payment.
The Company shall hold the Estimated Payment Fund in a segregated account on behalf of the Stockholders and use such funds for the sole purposes of (i) delivery of the Cash Option Payment, and (ii) delivery of the Closing Per Share Amount in respect of Shares issued and outstanding immediately prior to Closing.
Notwithstanding the foregoing, the Unvested Cash Option Payment shall not automatically be payable by Parent at the Effective Time, and shall instead become payable by or on behalf of the Surviving Corporation on the date set forth in the applicable Vesting Cash Payment Notice (subject to the restrictions and other terms of such vesting schedule, including continued employment).
All payments to the holders of Options of their share of the Closing Purchase Price, which is limited to the Cash Option Payment as defined in Exhibit F, shall be made to an account of the Company and shall be distributed by the Sellers' Representative from such account after subtraction for appropriate payroll withholding, to the holders of Options.
Notwithstanding the foregoing, holders of all unexercised Guaranty Financial Options that have expired in accordance with the terms of the Guaranty Financial Option Plans prior to the Effective Time shall not be entitled to the Cash Option Payment.
The Cash Option Payment shall be paid by Company on the first business day after the thirty (30) day period following the shareholders meeting if the Special Option has not been approved by Company’s shareholders by that time, provided, however, that the Company may with Executive’s consent (such consent not to be unreasonably withheld) extend by a reasonable period of time the period within which the Company may seek to obtain the required shareholder approval.
Prior to the Effective Time, Guaranty Financial shall use its reasonably best efforts to obtain the written consent of each option holder to the cancellation of the Guaranty Financial Options in exchange for the Cash Option Payment, provided that the failure to obtain each consent shall not be a breach of this agreement.
The Surviving Corporation may in its discretion make all such required payments through its or its Affiliates’ regular payroll system no later than the last day of the calendar month immediately following the calendar month in which the Unvested Cash Option Payment becomes vested under the applicable Vesting Cash Payment Notice.