Option Threshold definition

Option Threshold means an amount equal to the sum of (i) the Purchase Price that has been raised and secured by SongVest through the Offering; and (ii) the amount set forth on Schedule B, if any. For the avoidance of doubt, if SongVest does not secure an amount equal to or in excess of the Option Threshold, through the Offering, the Option Threshold will not be deemed satisfied.
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Option Threshold means issuances by the Company of employee stock options to employees, officers or Directors of the Company pursuant to incentive arrangements approved by the Board, and the Securities issued pursuant to the exercise of these options, subject to a maximum limit of 7.04% (Seven and Four Hundredths percent) of the equity share capital of the Company on a Fully Diluted Basis as on the Effective Date (which shall include the warrants that may be issued to the Promoter pursuant to the Promoter Incentive Agreement). It is clarified that any employee stock options offered by the Company pursuant to a Super Majority Resolution after the Effective Date shall not be subject to or included within the aforesaid maximum limit of 7.04% (Seven and Four Hundredths percent). However, other than the incentives offered to the Promoter pursuant to the Promoter Incentive Agreement, none of the Management Shareholders, Other Principal Shareholders (other than Mr. Chaitanya Rathi, Mr. Karan Vasani, Ms. Cecilia Oldne, Mr. Manoj Rawat, Mr. Monit Dhavale, Mr. Nana Madhav Shelke, Mr. Neil Fernandes, and Mr. Gorakh Gaikwad) or their relatives (as the term is defined under the Act) shall be eligible for issue of employee stock options or similar instruments. It is further clarified that the price for all future employee stock options issued post the shall be as per the agreed pricing mechanism (as provided in Schedule II to this Agreement) at the exercise price per share (as provided in Schedule II to this Agreement) or at INR 170 (Indian Rupees One Hundred Seventy only), whichever is higher.
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Examples of Option Threshold in a sentence

  • Seller is granting to SongVest an exclusive option to enter into the Transaction, which option shall be deemed exercised in the event the Option Threshold is satisfied.

  • Upon the conclusion of the Offering, and solely in the event the Option Threshold is satisfied, SongVest’s option to enter into the Transaction shall be deemed exercised and Seller shall irrevocably assign, grant and convey the rights to the Royalties to SongVest for the entire duration of the Royalty Period.

  • Subject to the satisfaction of the Option Threshold hereunder, Seller will sell to SongVest the right to receive Royalties deriving from the Portfolio during the Royalty Periods (as listed on Schedule A), and SongVest will issue proceed rights units (each a “Unit” and collectively the “Proceed Rights”) to a third party investor (the “Investor”) in and to such Royalties via the SongVest website (the “Site”) as further set forth herein (collectively, the “Transaction”).

  • Notwithstanding the foregoing or anything herein to the contrary, in the event the Option Threshold is not satisfied (i.e., the full Purchase Price is not secured during the Offering), no rights to Royalties or any other revenue or property of Seller shall transfer to SongVest hereunder, SongVest’s option to enter into the Transaction shall be waived, and the Term of this Agreement shall terminate.

  • Notwithstanding the foregoing or anything herein to the contrary, in the event the Option Threshold is not satisfied (i.e., the full Purchase Price is not secured during an Offering), no rights to Royalties or any other revenue or property of Seller shall transfer to SongVest hereunder, SongVest’s option to enter into the Transaction shall be waived, and the Term of this Agreement shall terminate.

  • Subject to the satisfaction of the Option Threshold hereunder, Seller will sell to SongVest the right to receive Royalties deriving from the Portfolio during the Royalty Periods (as listed on Schedule A), and SongVest will issue proceed rights units (each a “Unit” and collectively the “Proceed Rights”) to a third-party investor (the “Investor”) in and to such Royalties via the SongVest website (the “Site”) as further set forth herein (collectively, the “Transaction”).

  • The Call Option Amount Requested and the Call Option Threshold Price shall be set forth in the Draw Down Notice.

  • Subject to the satisfaction of the Option Threshold hereunder, Seller will sell to SongVest the right to receive Royalties deriving from the Portfolio during the Royalty Periods (as listed on Schedule A), and SongVest will issue proceed rights units (each a “Unit” and collectively the “Proceed Rights”) to a third- party investor (the “Investor”) in and to such Royalties via the SongVest website (the “Site”) as further set forth herein (collectively, the “Transaction”).

  • Producer is granting to SongVest an exclusive option to enter into the Transaction, which option shall be deemed exercised in the event the Option Threshold is satisfied.

  • The Draw Down Notice shall specify the Draw Down Amount Requested, set the Threshold Price for such Draw Down and designate the first Trading Day of the Draw Down Pricing Period and specify the Call Option(s), if any, that the Company wishes to grant to the Purchaser during the Draw Down Pricing Period and the applicable Threshold Price for such Call Option (the "Call Option Threshold Price").

Related to Option Threshold

  • Restoration Threshold means, with respect to each Individual Property, an amount equal to 5% of the outstanding principal amount of the Allocated Loan Amount attributable to such Individual Property.

  • Alteration Threshold means an amount equal to 5% of the outstanding principal amount of the Loan.

  • Minimum Takedown Threshold shall have the meaning given in Section 2.1.4.

  • Micro-purchase threshold means the dollar amount at or below which a district may purchase property or services using micro-pur- chase procedures. Generally, the micro-purchase threshold for pro- curement activities administered under federal awards is not to ex- ceed the amount set by the Federal Acquisition Regulations (FAR) at 48 C.F.R. Part 2, Subpart 2.1 [see below], unless a higher threshold is requested by the district and approved by the cogni- zant agency for indirect costs.

  • Bid threshold means the dollar amount set in N.J.S.A. 18A:18A-3, above which a Board shall advertise for and receive sealed bids in accordance with procedures set forth in N.J.S.A. 18A:18A-1 et seq.