Put Right Generally Clause Samples
The "Put Right Generally" clause grants a party the right to require another party to purchase certain assets, shares, or interests at a specified time or under certain conditions. In practice, this means that if predefined triggers occur—such as a change in control, failure to meet performance targets, or upon the occurrence of a specific event—the holder of the put right can compel the counterparty to buy their stake, often at a pre-agreed price or formula. This clause is commonly used in joint ventures, shareholder agreements, or investment contracts to provide an exit mechanism and protect the interests of minority stakeholders. Its core function is to offer a clear and enforceable method for a party to exit an investment or business relationship, thereby managing risk and ensuring liquidity.
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Put Right Generally. Purchaser shall have the right to require the Company or ▇▇▇▇▇▇ to repurchase promptly the Secondary Shares from Purchaser if, at any time prior to the thirty month anniversary of the date of the Secondary Closing, ▇▇▇▇▇▇ is not a stockholder, employee, or member of the board of directors of the Company. The repurchase price of any securities repurchased by the Company, ▇▇▇▇▇▇, or the Company’s or ▇▇▇▇▇▇’▇ permitted assigns pursuant to this Section 3.1 shall be equal to the greater of (a) the fair market value of such securities (as determined by the board of directors of the Company in good faith) on the repurchase date and (b) One Hundred and Fifty Thousand Dollars ($150,000).