Common use of Put Provision Clause in Contracts

Put Provision. Each holder of Warrants has the right to require the Company to purchase all (but not less than all) of such holder's Warrants upon written notice to the Company after the occurrence of both: (i) the payment in full of all outstanding Notes whether at maturity or pursuant to an earlier redemption or repurchase and (ii) the payment in full of all outstanding Second Mortgage Notes whether at maturity or pursuant to an earlier redemption or repurchase. The purchase price that the Company shall pay in cash (by wire transfer or check, in either case, as specified in such notice) for each share of Common Stock (or Common Stock Equivalent) issuable upon the exercise of all of such holder's Warrants shall equal (A) (i) (x) 6.0 multiplied by (y) the Company's EBITDA, in each case for the four fiscal quarters immediately preceding such purchase for which internal financial statement are available, minus (ii) the Company's Funded Debt, minus (iii) the liquidation preference value of any of the Company's outstanding preferred stock plus (iv) the cash to be received by the Company upon the exercise of any Common Stock Equivalents having an exercise price less than the Fair Value of such Common Stock divided by (B) the Fully Diluted Number on the date of such purchase immediately prior to giving effect to such purchase. Such purchase shall be made by the Company at any time during the 180 days following the date of such written notice provided by such holder.

Put Provision. Each holder of Warrants has the right to require the Company to purchase all (but not less than all) of such holder's Warrants upon written notice to the Company after the occurrence of both: (i) the payment in full of all outstanding Notes whether at maturity or pursuant to an earlier redemption or repurchase and (ii) the payment in full of all outstanding Second Mortgage Notes whether at maturity or pursuant to an earlier redemption or repurchase. The purchase price that the Company shall pay in cash (by wire transfer or check, in either case, as specified in such notice) for each share of Common Stock (or Common Stock Equivalent) issuable upon the exercise of all of such holder's Warrants shall equal (A) (i) (x) 6.0 multiplied by (y) the Company's EBITDA, in each case for the four fiscal quarters immediately preceding such purchase for which internal financial statement statements are available, minus (ii) the Company's Funded Debt, minus (iii) the liquidation preference value of any of the Company's outstanding preferred stock plus (iv) the cash to be received by the Company upon the exercise of any Common Stock Equivalents having an exercise price less than the Fair Value of such Common Stock divided by (B) the Fully Diluted Number on the date of such purchase immediately prior to giving effect to such purchase. Such purchase shall be made by the Company at any time during the 180 days following the date of such written notice provided by such holder.