Put Election definition
Examples of Put Election in a sentence
The Company will pay for the Vested Units to be purchased by it pursuant to the Separation Put Election by first offsetting amounts outstanding under any bona fide debts owed by Executive to the Company and will pay the remainder of the purchase price by a check or wire transfer of immediately available funds.
The Company will pay for the Class B Preferred Units to be purchased by it pursuant to the Preferred Put Election by first offsetting amounts outstanding under any bona fide debts owed by Executive to the Company and will pay the remainder of the purchase price by a check or wire transfer of immediately available funds.
The Separation Repurchase Option with respect to Vested Units under SECTIONS 3(a)(i)(B)(I) and 3(a)(i)(B)(II) shall be valid only if Executive fails to exercise the Separation Put Right (if applicable) within the Put Election Period provided in SECTION 4(a)(i) below.
Upon exercise of the Option or Put as provided in (and ------- in accordance with) any of Sections 1 or 2 above, the purchase and sale of the ---------- - Remainder Notes shall close on the closing date specified in the Option Election Notice or Put Election Notice, as applicable, in accordance with the terms of Sections 1(b) and 2(b), respectively (the "CLOSING DATE").
The Put Election Notice shall include (i) the proposed closing date, which shall not be less than ten (10) business days after the delivery thereof nor more than twenty (20) business days after the delivery thereof, and (ii) the Optionor's calculation of the Fair Market Value of the Remainder Notes based on the proposed closing date.
The broker(s) shall determine the FMV by evaluating both Members proposed FMVs in light of the fair market value of the Property, such fair market value being the fairest price estimated in the terms of money that the Company could obtain if the Property was sold in the open market allowing a reasonable time to find a purchaser who purchases with knowledge of the business of the Property at the time of the delivery of the Put Election Notice or Call Election Notice.
The Put Election shall be deemed made on the date the Put Notice is delivered to the Company.
The Second Put Option may be exercised only by giving written notice to the Buyers stating the number of Covered Securities to be sold by each H&Q Party pursuant to the Second Put Option (the "Second Put Election Notice").
At the end of the First Put Exercise Period, any Covered Securities that are set forth opposite an H&Q Party's name on Exhibit B under the heading "Upon Exercise of the First Put Option" and that are not included in the First Put Election Notice shall no longer be subject to the First Put Option.
The First Put Option may be exercised only by giving written notice to the Buyers stating the number of Covered Securities to be sold by each H&Q Party pursuant to the First Put Option (the "First Put Election Notice").