Cashless Clause Samples
A Cashless clause allows parties to settle financial obligations without the need for actual cash payments, typically by offsetting mutual debts or using non-cash methods such as credits or securities. In practice, this means that if two parties owe each other money, they can net the amounts owed and only pay the difference, or use shares or other assets to fulfill payment obligations. The core function of this clause is to streamline transactions, reduce the need for physical cash transfers, and minimize administrative burdens, thereby increasing efficiency and reducing settlement risk.
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Cashless. Major Exercise The undersigned hereby irrevocably exercises the Warrant with respect to ____% of the Warrant currently outstanding pursuant to a Cashless Major Exercise in accordance with the terms of the Warrant. ¨ Cashless Default Exercise The undersigned hereby irrevocably exercises the Warrant pursuant to a Cashless Default Exercise, in accordance with the terms of the Warrant.
Cashless. Cashless treatment facilities are available only at Network Provider. The Insured Member can avail of this cashless facility at the time of admission into a Network Provider by completing the following procedure.
i. Pre-authorization: The Policyholder/ Insured Member must call the Company’s call centre number as specified in the Policy Certificate and request authorization for the proposed treatment by way of submission of a completed pre-authorization form at least within 24 hours of admission to the Network Provider.
ii. Present the health card provided by the Company under this Policy along with a valid photo identification document (Voter ID card / Driving License / Aadhar card / Passport / PAN Card or any other identification documentation as approved by the Company).
iii. The Company will process the request for authorization after having obtained accurate and complete information for the Illness or Injury for which cashless facility for is sought to be availed. The Company will confirm in writing authorization or rejection of authorization to avail cashless facility for the Insured Member’s Hospitalization.
iv. If the request for availing cashless facility is authorized by the Company, then payment for the Medical Expenses incurred in respect of the Insured Member shall not have to be made to the extent that such Medical Expenses are covered under this Policy and fall within the amount authorized in writing by the Company for availing cashless facility.
v. In case Policyholder/Insured Member cannot avail the cashless facility, payment for the treatment will have to be made by the Policyholder or Insured Member to the Network Hospital, following which a Claim for reimbursement may be made to the Company which will be considered by the Company subject to the Policy terms and conditions.
Cashless. I will contact my broker from [BROKER’S NAME/COMPANY], who will be verifying my options and arranging to exercise and sell my option shares.
Cashless. [If electing cash payment, describe desired payment method as provided for in 3.1 of the Warrant].
Cashless. (a) Upon presentation to the Corporation at the office specified in Section 3.2 of this Warrant with the subscription notice attached to this Warrant as Exhibit A duly completed, indicating a non-cash exercise under this Section 3.3.2
(a) and signed by the Holder, the Corporation will issue and cause to be delivered to or upon the written order of the Holder and in such name or names as the Holder may designate consistent with the terms of the Master Agreement, a certificate for a number of shares of Common Stock equal to the result of dividing (a) the product of (i) the number of shares of Common Stock for which this Warrant may be exercised and (ii) the Warrant Spread on the Exercise Date, by (b) the Fair Market Value of a share of Common Stock on the Exercise Date.
(b) Upon presentation to the Corporation at the office specified in Section 3.2 of this Warrant with the subscription notice attached to this Warrant as Exhibit A duly completed, indicating a non-cash exercise under this Section 3.3.2(b) and signed by the Holder, and upon the delivery to the Corporation of that number of shares of Common Stock having an aggregate Fair Market Value as of the Exercise Date equal to the Exercise Price multiplied by the number of Warrant Shares being purchased upon such exercise, the Corporation will issue and cause to be delivered to or upon the written order of the Holder and in such name or names as the Holder may designate consistent with the terms of the Master Agreement, a certificate for the shares of Common Stock issued upon such exercise.
Cashless. Contractor shall submit a certificate to the effect that “All the payments to the labour / staff are made in bank accounts of staff linked to Unique Identification Number (AADHAR CARD)” The certificate shall be submitted by the contractor within 60 days from the commencement of contract. Iof the time period of contract is less than 60 days then such certificate shall be submitted within 15 days from the date of commencement of contract. (Vide Marathi ▇.▇.▇▇. Tender-2016/C.R.20/▇▇▇▇▇▇▇/Bldg-2, Dated 09/12/2016)
Cashless. Provided there is a current market price for the Common Stock as provided in Sections E.1. or E.2. below, the Holder may, at its option, exercise this Warrant at any time during the Exercise Period on a “cashless” basis by exchanging this Warrant, in whole or in part, into the number of Warrant Shares determined in accordance with this Section C.2., by surrendering this Warrant at the principal office of the Company or at the office of its stock transfer agent, accompanied by a notice of cashless election. In such event, the Company shall issue the Holder a number of shares of Common Stock computed using the following formula: X = Y(A-B)/A where: X = the number of shares of Common Stock to be issued to Holder. Y = the number of shares of Common Stock for which this Warrant is being exercised. A = the current market value of one (1) share of Common Stock. Current market value shall have the meaning set forth Section E. below, except that for purposes hereof, the date of exercise, as used in such Section E., shall mean the date the cashless exercise notice is received by the Company.
Cashless an approved cashless exercise method, including directing the Company to send the stock certificates (or other acceptable evidence of ownership) to be issued under the Option to a licensed broker acceptable to the Company as your agent in exchange for the broker’s tendering to the Company cash (or acceptable cash equivalents) equal to the Exercise Price and any required tax withholdings (at the minimum required level); or cash, a cashier’s or certified check in the amount of the Exercise Price, and any required tax withholdings, payable to the order of the Company.
Cashless. At the time of exercise of this Option, the Optionee shall surrender the right to acquire pursuant to the Option that number of Shares where the difference between (i) the market price of the Shares purchasable pursuant to that portion of the Option surrendered and (ii) the exercise price of that portion of the Option surrendered shall equal the exercise price of that portion of the Option exercised.
Cashless. ¨ to approve the Amendment and have your Loans automatically be subject to the amended terms described in the Amendment.