Put Default Sample Clauses
A Put Default clause defines the circumstances under which a party, typically a lender or investor, can require the other party to repurchase or redeem an asset or security before its scheduled maturity due to a default event. In practice, this clause is triggered if the issuer fails to meet certain obligations, such as missing payments or breaching covenants, allowing the holder to 'put' the asset back to the issuer at a predetermined price. The core function of this clause is to protect the interests of the holder by providing an exit mechanism in the event of default, thereby allocating risk and incentivizing compliance with contractual terms.
Put Default. A “Put Default” shall occur if at any time (i) the Company fails to comply on a timely basis with the dividend payment provisions of the Shares, but only if no GECC Default has occurred and remains continuing or results therefrom; (ii) there is a Guaranty Default; (iii) the Company fails to make eight quarterly dividend payments in respect of the Shares (whether in consecutive calendar quarters or not), even if UWG receives any payment in respect thereto, (iv) the Company defaults under any agreement relating to any financial support provided by UWG or any of its Subsidiaries to the Company and such default continues for thirty (30) calendar days after written notice of such default is given to the Company by UWG; (v) there is any other breach of the Company’s representations, warranties, covenants and agreements in the Exchange Agreement, the Supply Agreement or any other contractual relationship between the Company and UWG or any of its subsidiaries which entitles UWG to demand the early payments of amounts due thereunder or to otherwise exercise significant remedial actions thereunder; (vi) there is an Annual Put Default; or (vii) there is a Change of Control or an IPO. Upon the occurrence of a Put Default, UWG (at its option) may require the Company to purchase any or all Shares which UWG may then hold at the Series A Put Price (the “Default Put Right”).
Put Default. 24 6.5 NFO Right of First Refusal............................24
Put Default. Notwithstanding the provisions set forth in Article Five of the Indenture, "Event of Default," wherever used in the Indenture or this Third Supplemental Indenture with respect to the Subordinated Debt Securities, shall not be deemed to include a default in the payment of the Subordinated Debt Repayment Price on the Initial Put Option Exercise Date unless such default shall continue for more than two Business Days following the Stated Purchase Date.
Put Default. In the event of the failure of the Company within 210 days of the Company's receipt of the Put Notice to pay in full the Put Price for all ABRY Stock pursuant to a Put with respect to the ABRY Stock (a "Put Default"), the holders of a majority of the ABRY Underlying Common Stock shall have certain affirmative rights in connection with an Approved Sale as set forth in Section 6 hereof.
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Put Default. The Seller shall have failed to repurchase (or make ----------- reimbursement in respect of, if applicable) any Account that the Seller is obligated to repurchase (or make reimbursement for) under Section 7.3, within the time period specified in Section 7.3;
Put Default. (i) In the event of a Put Default, (A) the Requisite Rollover Investors shall, subject to the terms set forth herein, have the right to become “Initiating Members” for purposes of Section 12.8 of the LLC Agreement and (B) upon the consummation of any Approved Sale initiated by the Requisite Rollover Investors (a “Rollover Investor Approved Sale”) and notwithstanding Section 4.1(b) of the LLC Agreement, (x) the holders of the Exchange Company Units shall, in the aggregate, receive in respect of the Exchange Company Units the lesser of (1) the aggregate net equity proceeds of such Approved Sale and (2) an amount equal to the Put Price (determined on the date of the consummation of such Approved Sale) multiplied by the number of Exchange Company Units then outstanding (in either case divided ratably among the holders of Exchange Company Units based on the number of Exchange Company Units held by each such holder) and (y) the holders of all other Units of the Company shall be entitled to receive in respect of such Units, any and all remaining net equity proceeds paid or payable in connection with such Approved Sale in excess of the amount determined pursuant to the immediately preceding clause (x) (ratably among such holders in accordance with Section 4.1(b) of the LLC Agreement, but excluding any Exchange Company Units) and the holders of the Exchange Company Units shall not be entitled to receive any proceeds in excess of the amount determined pursuant to the immediately preceding clause (x). In the event that the proceeds of a Rollover Investor Approved Sale includes property other than cash, then, the amounts payable with respect to the Exchange Company Units shall be paid in cash, unless there is insufficient cash available in transaction proceeds to make such payments in which case all such cash shall be paid with respect to the Exchange Company Units and any additional amounts shall be payable in such form as is agreed to by the Requisite Rollover Investors (in any case, except to the extent required to ensure that the Cash Investor receives not less than 75% of its aggregate proceeds, if any, in connection with such Rollover Investor Approved Sale in cash). Unless otherwise agreed by holders of the Rollover Investors and the Cash Investors, the value of any non-cash consideration payable in connection with any such Rollover Investor Approved Sale shall be determined by the Approved Bank (as defined below), which shall set forth such determination and t...
Put Default. In the event of the failure of the Company within 180 days of the Company's receipt of the Put Notice to pay in full the Put Price for all ABRY Stock pursuant to a Put with respect to the ABRY Stock (a "Put Default"), the holders of a majority of the ABRY Underlying Common Stock shall have certain affirmative rights in connection with an Approved Sale as set forth in Section 6 hereof.
Put Default. If any payments required by Section 10 of this Warrant Agreement are not paid as scheduled, then for each period of 90 days or less thereafter during which any such payment default exists, the number of Underlying Shares shall automatically increase by an amount equal to 75,000 Underlying Shares (as such number is appropriately adjusted for stock splits, stock dividends and similar transactions), compounded at a 25% rate for each such 90 day period (the "Put Default Shares"). Any Put Default Shares shall be allocated prorata among the Holders (based on the Underlying Shares initially associated with each Warrant on the date of this Agreement). For example, if such payment default exists for a 210 day period, the number of Put Default Shares shall be equal to 285,938 (as such number is appropriately adjusted for stock splits, stock dividends and similar transactions), determined on the basis of 75,000 Underlying Shares for the first 90 day period, 93,750 Underlying Shares for the second 90 day period, and 117,188 Underlying Shares for the third period of 30 days.
Put Default. If (a) the Company or the Company Transferee, as the case may be, fails to consummate the closing of the Put within the time periods set forth in Section 6.3 or (b) the Company fails to cure any failure to make payments due under the Company Notes within five (5) Business Days of notice from a Holdco Stockholder of such failure (a "Put Default") General Atlantic shall have the right (pursuant to an irrevocable proxy which IX, on behalf of itself and the other IX Interestholders, hereby grants to General Atlantic in the event of a Put Default and until such Put Default is cured (provided that if subsequent Put Defaults occur this irrevocable proxy shall again take effect)) to vote the Company Interests held by the IX Interestholders in favor of expanding the Board of Representatives of the Company from five (5) members to seven (7) members and designating four (4) of such members pursuant to Section 5.2(b) of the Operating Agreement.