4Consideration Clause Samples
The Consideration clause defines what each party is providing or promising in exchange for the other party’s obligations under the contract. In practice, this could involve payment of money, delivery of goods, provision of services, or other forms of value exchanged between the parties. By clearly stating what constitutes valid consideration, this clause ensures that the contract is legally enforceable and that both parties understand the basis of their mutual obligations.
4Consideration. The Option Exercise Price of Class C Share acquired pursuant to an Option must be paid, to the extent permitted by applicable statutes and regulations, either (a) in cash or by certified or bank check at the time the Option is exercised or (b) in the discretion of the Board, upon any terms as the Board may approve, the Option Exercise Price may be paid: (i) by delivery to the Company of other Class C Share, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Option Exercise Price (or portion thereof) due for the number of shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific Class C Shares that have an aggregate Fair Market Value on the date of attestation equal to the Option Exercise Price (or portion thereof) and receives a number of Class C Shares equal to the difference between the number of shares thereby purchased and the number of identified attestation Class C Shares (a “Share for Share Exchange”); (ii) a “cashless” exercise program established with a broker; (iii) by reduction in the number of Class C Shares otherwise deliverable upon exercise of the Option with a Fair Market Value equal to the aggregate Option Exercise Price at the time of exercise; (iv) by any combination of the foregoing methods; or (v) in any other form of legal consideration that may be acceptable to the Board. Unless otherwise specifically provided in the Option, the exercise price of Class C Share acquired pursuant to an Option that is paid by delivery (or attestation) to the Company of other Class C Share acquired, directly or indirectly from the Company, must be paid only by Class C Shares that have been held for more than six months (or any longer or shorter period of time required to avoid a charge to earnings for financial accounting purposes). Notwithstanding the foregoing, during any period for which the Class C Share is publicly traded (i.e., the Class C Share is listed on any established stock exchange or a national market system), an exercise by a Director or Officer that involves or may involve a direct or indirect extension of credit or arrangement of an extension of credit by the Company, directly or indirectly, in violation of Section 402(a) of the S▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 is prohibited with respect to any Award under this Plan.
4Consideration. Guarantor has received adequate consideration for entering into this Agreement, including the execution of the APA and the other Transaction Documents by Buyer and Obligor, and the undertaking of the Obligations (as defined below) by Obligor.
4Consideration. The purchase price for the Purchased Assets (the “Purchase Price”) shall be $3,000,000. Buyer shall pay Sellers $1,500,000 of the Purchase Price 131622973.6 on the Closing Date. Buyer shall pay Sellers the remaining $1,500,000 of the Purchase Price in three equal installment payments of $500,000 on the dates that are: (i) six (6) months after the Closing Date; (ii) twelve (12) months after the Closing Date; and (iii) eighteen (18) months after the Closing Date. Buyer shall pay Sellers on the applicable due date, subject to an offset against any amounts then owing to Buyer or any of its Affiliates under this Agreement or otherwise.