Put Party definition
Examples of Put Party in a sentence
Each Put Party shall be limited to its New Preferred Stock Allocated Amount and there shall be no over subscription right or obligation with respect to the New Preferred Stock.
Notwithstanding the foregoing or anything to the contrary herein, if CII has delivered a Notice of Put and based upon such exercise any other Put Party delivers a Notice of Put, but subsequent to such deliveries, at any time prior to the Put Closing, CII rescinds its Notice of Put, then each such other Put Party shall be deemed to have rescinded its/his/her respective Notice of Put.
The closing of such purchase shall be no later than 30 days following the execution of such binding arrangements, subject to extension with the written consent of the Put Party, which consent will not be unreasonably withheld.
The Electing Put Party shall bear the costs of such Third Party Valuation Firm.
If any Put Party shall have sold less than all of its/his/her Warrant Rights under the Warrant so delivered, the Company shall deliver to such Put Party a new Warrant (as requested by such Put Party) evidencing the Warrant Rights of such Put Party not made the subject of the Notice of Put.
The cost of the Joint Valuation Firm will be borne fifty percent (50%) by the Electing Put Party and fifty percent (50%) by ABP or as they may otherwise agree.
Each Put Party will commit to purchase its entire pro-rata allocation of the Rights Offering.
If any Put Party shall have sold less than the entire outstanding principal under any Note so delivered, the Company shall deliver to such Put Party a new Note (as requested by such Put Party) evidencing outstanding indebtedness to such Put Party not made the subject of the Notice of Put.
If it becomes apparent, in the Put Party's reasonable judgment, that the Company can not be sold at the Appraised Value, then the Put Party, at its sole option, may reduce the price for which the Company is being offered by up to 10% of the Appraised Value.
Upon request of the Electing Put Party, the Company shall provide the Third Party Valuation Firm appointed by the Electing Put Party to determine the Put Price with such information related to the Put Shares and the Company as such Third Party Valuation Firm may reasonably request in connection with its determination.