Common use of ADDITIONAL COMPENSATION – REIMBURSEMENT OF COST Clause in Contracts

ADDITIONAL COMPENSATION – REIMBURSEMENT OF COST. 4.1 Magni shall, in the event their continued administrative support of the Company, whether in relation to a singular transaction or a prolonged process, creates significant value for the Company or represents a material saving of cost, request that the Company pays Magni an ad hoc compensation for such support. Such compensation can take the form of a cash payment, the issue of warrants to subscribe to shares in the Company or the granting of options to acquire shares in the Company.

Appears in 4 contracts

Samples: Himalaya Shipping Ltd., Himalaya Shipping Ltd., Himalaya Shipping Ltd.

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.