Determination Date; Payment Clause Samples
Determination Date; Payment. Holdings shall purchase all of the Vested Shares that are the subject of a Put Notice on the 181st day after the effectiveness of the applicable termination of employment, or, with respect to a Put Notice delivered pursuant to Section 10(a)(ii) on the 181st day after the shares subject to such Put Notice become Vested Shares. Subject to subsection (c) below, Holdings shall purchase all shares that are subject to a Put Notice in a cash lump sum equal to the Fair Market Value of such shares as of the date that they are repurchased by Holdings. At the sole discretion of the Board, Holdings may elect to defer 2/3rds of the purchase price for such shares and instead issue a promissory note that will become due and payable, subject to subsection (c) below, with respect to 50% of the deferred amount on the first anniversary of termination and with respect to the remainder on the second anniversary of termination. Interest will accrue on the principal of any such promissory note at a rate equal to 8% per annum.
Determination Date; Payment. The purchase price for any Executive Shares that are the subject of a valid Put Notice (any such Executive Shares, “Put Shares”) shall be determined as of the applicable date specified in Section 7.3.1 (in the case of the Restricted Stock Put Option) or in Section 7.3.2 (in the case of the Other Stock Put Option). The Company shall deliver the applicable ▇▇▇▇ Executive a written notice setting forth such purchase price within five business days following the receipt of any applicable Put Notice. Any payment required to be made by the Company or the Investors or any Investor Designees to the applicable Call Group under any provision of this Section 7.3 shall be made in cash.
Determination Date; Payment. The Company shall purchase all of the Management Shares that are subject to a Put Notice (the “Notice Shares”) on the date that is six months and one day after the date the Put Notice is received by the Company. Subject to subsection 4.2.3 below, the Company shall purchase all of the Notice Shares in a cash lump sum equal to the Fair Market Value of such shares as of the date that they are repurchased by the Company.
Determination Date; Payment. The Company will purchase all of the Vested Shares that are the subject of a Put Notice within ninety (90) days after receipt of the Put Notice. Subject to subsection 7.3.3 below, the Company will purchase all Vested Shares that are subject to a Put Notice with a lump sum cash payment equal to the Fair Market Value of such Shares as of the date of the Put Notice; provided, however that the Fair Market Value of each Option shall be determined by subtracting the exercise price for such Option from the Fair Market Value of the Shares underlying such Option.