Option Trigger Event definition
Examples of Option Trigger Event in a sentence
On one occasion exercised within 30 days of a Purchase Option Trigger Event, the Term Lenders shall have the option, but not the obligation, to (x) purchase from the Revolving Lenders all, but not less than all, of the Revolving Loans and other Revolving Credit Obligations owing to the Revolving Lenders and (y) assume all, but not less than all, of the then-existing Revolver Commitments.
Such option shall expire ninety (90) days after the Option Trigger Event.
If, upon the occurrence of an Option Trigger Event, Accuray requests that the Company and Shareholders consider the use of Accuray capital stock as consideration for all or a portion of the purchase price, the Company and Shareholders will consider such request in good faith, provided that the use of Accuray capital stock as consideration shall be subject to the approval of both the Company and Accuray.
The provisions of this Section 5.2 shall be applicable if the Option Trigger Event is the Monterey Milestone Trigger Event.
The provisions of this Section 5.3 shall be applicable if the Option Trigger Event is a Potential Sale Trigger Event.
Hiscox shall forfeit its right to designate the Hiscox Director upon the occurrence of a Call Option Trigger Event, following which Hiscox shall cause any person designated by it to the Board to resign from the Board and any committee of the Board (and, unless otherwise requested by the Company, the board of directors (or equivalent governing body) of any Subsidiary of the Company or the Fund) with immediate effect.
If the Holder desires to exercise a Put Option after a Put Option Trigger Event, the Holder shall surrender this Warrant, together with a completed Put Option Exercise Form in the form attached hereto as Schedule III (or a reasonable facsimile thereof) duly executed, to the Company at the address and in the manner set forth in Section 11 hereof, or at such other place as is designated in writing by the Company.
Such written notice shall be provided at least [**] months prior to the end of the First Extension Phase (or within [**] days following the Second Extension Option Trigger Event, as applicable); provided that, if the Parties enter into the Extended Initial Phase and such Extended Initial Phase continues until [**] following the end of the original Initial Phase, then such notice need not be provided until at least [**] months prior to the end of the First Extension Phase.
In the event of a Candidate Failure, if the Parties cannot agree on the scope or costs of further work after a good-faith negotiation, then an Option Trigger Event shall be deemed to have taken place [***] days after the date on which the JSC informs both Parties of the Candidate Failure.
In the event that the JSC does not respond within [***] days of the delivery of the Development Candidate Data Package, then an Option Trigger Event shall be deemed to have taken place on the date after the expiry of such period.