Option Cancellation Payment definition

Option Cancellation Payment means, with respect to each Option, an amount equal to the product of (i) the number of shares of Common Stock subject to such Option, multiplied by (ii) (x) the Common Stock Consideration, minus (y) the per share exercise price of the Option.

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Option Cancellation Payment has the meaning set forth in Section 1.5(a).

Option Cancellation Payment has the meaning set forth in Section 2(f)(i) below.

Examples of Option Cancellation Payment in a sentence

Eldorado shall take appropriate steps to obtain from each of the several Optionholders a cancellation agreement, in form and substance acceptable to CSBI, cancelling each outstanding Option in consideration of the applicable Option Cancellation Payment.
Immediately prior to the Effective Time, each holder of a then-outstanding Option shall be entitled (whether or not such Option is then vested or exercisable) to receive, in cancellation of such option, a cash payment (an "Option Cancellation Payment") in an amount equal to the excess of the Merger Consideration over the per-share exercise price of such Option, multiplied by the number of shares of Common Stock covered by such Option, subject to any required withholding of Taxes.
The Financing is adequate to pay in full in cash (a) the aggregate Merger Consideration and the aggregate Option Cancellation Payment (in each case in accordance with the terms of this Agreement), (b) all fees and expenses of Parent and Merger Sub associated with the transactions contemplated hereby and (c) any other payments necessary to consummate the transactions contemplated hereby, and to refinance the existing indebtedness of the Company disclosed in the Disclosure Schedules.
In addition at the Closing, Purchaser will contribute to the Company immediately available funds in an amount equal to, and shall thereafter cause the Company to pay to Africk, the Option Cancellation Payment by wire transfer of immediately available funds to such account as Africk may reasonably direct by written notice delivered to Purchaser at least two (2) Business Days before the Closing Date.
The Option Cancellation Payment shall in all cases be paid in cash and shall not be subject to the proration contemplated by Section 2.10.

More Definitions of Option Cancellation Payment

Option Cancellation Payment has the meaning set forth in Section 4.1(d).

Option Cancellation Payment shall have the meaning given that term in Section 2.5.

Option Cancellation Payment means, as of immediately prior to the Effective Time, the lump sum payment that a Company Optionholder will receive, subject to the terms and conditions of this Agreement, which will be an amount equal to the product of (1) the difference between (a) the Per Share Merger Consideration (calculated without taking the Company Transaction Expenses in respect of the aggregate amount of Option Cancellation Payments into account), and (b) the exercise price of the Company Option, multiplied by (2) the aggregate number of Company Options held by the Company Optionholder.

Option Cancellation Payment means the Per Option Cancellation Payments multiplied by the aggregate number of vested shares of Common Stock subject to all outstanding Options immediately prior to their cancellation pursuant to Section 2.6(d).

Option Cancellation Payment has the meaning set forth in Section 2.05 of this Agreement.

Option Cancellation Payment means the portion of the Purchase Price payable for cancellation of all Options.

Option Cancellation Payment means, as to each In-the-Money Vested Option, an amount equal to the product of (a) the aggregate amount of (i) the Closing Date Per Share Merger Consideration, minus (iii) the per share exercise price of the applicable In-the-Money Vested Option,multiplied by (b) the number of shares of Company Common Stock that would otherwise be issuable upon the exercise of such In-the-Money Vested Option.