Option to Purchase Interest Upon Certain Events Sample Clauses

Option to Purchase Interest Upon Certain Events. (a) If all or any portion of a Member's interest is proposed to be transferred other than as provided in and in accordance with Section 7.4 pursuant to (i) an adjudication of the Member as a bankrupt; (ii) an entry of an order, judgment or decree by any court of competent jurisdiction appointing a trustee, receiver or liquidator of the assets of the Member; (iii) an assignment or attempted assignment by the Member for the benefit of creditors; or (iv) the institution or attempted institution of voluntary bankruptcy proceedings by the Member, then, in any such event (an "Option Event"), the Company and, to the extent the Company does not elect to purchase all of such interest, the other Member shall have the option, but not the obligation, to purchase from such Member (or from such Member's legal successor(s)) (the "Subject Member") all or any portion of the Subject Member's interest in the Company transferred, as the Company or the other Member may elect, without respect to whether all or only a portion of such Member's interest was initially subject to the proposed transfer.
AutoNDA by SimpleDocs
Option to Purchase Interest Upon Certain Events. 7.6.1 If a Member’s interest is transferred pursuant to (i) an adjudication of the Members as a bankrupt; (j) an entry of an order, judgment or decree by any court of competent jurisdiction appointing a trustee, receiver of liquidator of the assets of the Member; (k) an assignment or attempted assignment by the Member for the benefit of creditors; (l) the institution or attempted institution of voluntary bankruptcy proceedings by the Member; (m) the divorce or separation of the Member from his or her spouse under which by judicial decree the Member is required to transfer all or part of his or her interest in the Company to his or her spouse; or (n) the death of the Member, then, in any such event (an “Option Event”), the Company and, to the extent the Company does not elect to purchase all of such interest, the other Members shall have the option, but not the obligation, to purchase from such Member (or from such Member’s estate or legal successor(s)) (the “Subject Member”) the Subject Member’s interest in the Company transferred.
Option to Purchase Interest Upon Certain Events. (a) If a Member's interest is transferred pursuant to (i) an adjudication of the Member as a bankrupt; (ii) an entry of an order, judgment, or decree by any court of competent jurisdiction appointing a trustee, receiver, or liquidator of the assets of the Member; (iii) an assignment or attempted assignment by the Member for the benefit of creditors; or (iv) the institution or attempted institution of voluntary bankruptcy proceedings by the Member, then, in any such event (an "Option Event"), the Company and, to the extent the Company does not elect to purchase all of such interest, the other Member shall have the option, but not the obligation, to purchase from such Member (or from such Member's legal successor(s)) (the "Subject Member") the Subject Member's interest in the Company transferred.

Related to Option to Purchase Interest Upon Certain Events

  • Adjustments Upon Certain Events In the event of any change in the outstanding Shares by reason of any Share dividend or split, reorganization, recapitalization, merger, consolidation, amalgamation, spin-off or combination transaction or exchange of Shares or other similar events (collectively, an “Adjustment Event”), the Committee may, in its sole discretion, adjust any Shares or RSUs subject to this Agreement to reflect such Adjustment Event.

  • Termination Upon Certain Events 17 16.2 Procedures....................................................17

  • Repurchase of Notes at the Option of the Holders upon Change of Control and Asset Sales Upon the occurrence of a Change of Control, each holder shall have the right, subject to certain conditions specified in the Indenture, to cause the Issuer to repurchase all or any part of such holder’s Notes at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject to the right of the holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date), as provided in, and subject to the terms of, the Indenture. In accordance with Section 4.06 of the Indenture, the Issuer will be required to offer to purchase Notes upon the occurrence of certain events.

  • Repurchase of Notes Upon a Change of Control Not later than 30 days following a Change of Control, the Company will make an Offer to Purchase all outstanding Notes at a purchase price equal to 101% of the principal amount plus accrued interest to the date of purchase.

  • Purchase of Notes upon a Change of Control (a) If a Change of Control shall occur at any time, then each Holder of Notes shall have the right to require that the Company purchase such Holder’s Notes in whole or in part (equal to $2,000 or an integral multiple of $1,000 in excess thereof), at a purchase price (the “Change of Control Purchase Price”) in cash in an amount equal to 101% of the principal amount of such Notes, plus accrued and unpaid interest, if any, to, but excluding, the date of purchase (the “Change of Control Purchase Date”), pursuant to the offer described in subsection (b) of this Section (the “Change of Control Offer”) and in accordance with the procedures set forth in subsections (b), (c), (d) and (e) of this Section 3.2.

  • Repurchase upon Change of Control Upon the occurrence of any Change of Control, each Holder shall have the right to require the repurchase of its Notes by the Company in cash pursuant to the offer described in the Indenture at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to the date of purchase (the "Payment Date"). A notice of such Change of Control will be mailed within 30 days after any Change of Control occurs to each Holder at its last address as it appears in the Security Register. Notes in original denominations larger than $1,000 may be sold to the Company in part. On and after the Payment Date, interest ceases to accrue on Notes or portions of Notes surrendered for purchase by the Company, unless the Company defaults in the payment of the purchase price.

  • Preservation of Purchase Rights Upon Merger, Consolidation, etc In case of any consolidation of the Company with or merger of the Company into another corporation or in case of any sale, transfer or lease to another corporation of all or substantially all of the property of the Company, the Company or such successor or purchasing corporation, as the case may be, shall execute with the Warrantholders an agreement that the Warrantholders shall have the right thereafter upon payment of the Exercise Price in effect immediately prior to such action to purchase upon exercise of this Warrant the kind and amount of shares and other securities and property which such holder would have owned or have been entitled to receive after the happening of such consolidation, merger, sale, transfer or lease had this Warrant been exercised immediately prior to such action; PROVIDED, HOWEVER, that no adjustment in respect of cash dividends, interest or other income on or from such shares or other securities and property shall be made during the term of this Warrant or upon the exercise of this Warrant. Such agreement shall provide for adjustments, which shall be as nearly equivalent as practicable to the adjustments provided for in this Section 5. The provisions of this Section 5 shall apply similarly to successive consolidations, mergers, sales, transfers or leases.

  • Timing of Issuance of Additional Common Stock Upon Certain Adjustments In any case in which the provisions of this Section 13 shall require that an adjustment shall become effective immediately after a record date for an event, the Company may defer until the occurrence of such event (i) issuing to the Warrantholder of this Warrant exercised after such record date and before the occurrence of such event the additional shares of Common Stock issuable upon such exercise by reason of the adjustment required by such event over and above the shares of Common Stock issuable upon such exercise before giving effect to such adjustment and (ii) paying to such Warrantholder any amount of cash in lieu of a fractional share of Common Stock; provided, however, that the Company upon request shall deliver to such Warrantholder a due xxxx or other appropriate instrument evidencing such Warrantholder’s right to receive such additional shares, and such cash, upon the occurrence of the event requiring such adjustment.

  • Notice in Certain Events In case:

  • Repurchase at Option of Holders Upon a Fundamental Change (a) If a Fundamental Change occurs at any time prior to the Maturity Date, each Holder shall have the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s Notes, or any portion of the principal amount thereof properly surrendered and not validly withdrawn pursuant to Section 15.03 that is equal to $1,000 or a multiple of $1,000, on the date (the “Fundamental Change Repurchase Date”) specified by the Company that is not less than 20 or more than 35 Business Days following the date of the Fundamental Change Company Notice at a repurchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest thereon to, but excluding, the Fundamental Change Repurchase Date (the “Fundamental Change Repurchase Price”), unless the Fundamental Change Repurchase Date falls after a Regular Record Date but on or prior to the Interest Payment Date to which such Regular Record Date relates, in which case the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of such Regular Record Date, and the Fundamental Change Repurchase Price shall be equal to 100% of the principal amount of Notes to be repurchased pursuant to this Article 15. Any Notes so repurchased by the Company shall be paid for in cash.

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