Right of Sellers to “Put” Shares Sample Clauses

Right of Sellers to “Put” Shares. On or after one (1) year from the date of Closing, each of Messrs. Xxxxx and Xxxxxxxx shall have the right, but not the obligation, to have Rick’s purchase the Rick’s Shares from each of Messrs. Xxxxx and Xxxxxxxx calculated at a price per share equal to $23.00 per share (“Value of the Rick’s Shares”) until Messrs. Xxxxx and Xxxxxxxx have each received $150,000 from (i) the sale of the Rick’s Shares sold by them, regardless of whether sold to Rick’s, sold in the open market or in a private transaction or otherwise and (ii) the payment of any Deficiency (as hereinafter defined) by Rick’s. Each Seller, individually, shall notify Rick’s during any given month of his election to “Put” the Rick’s Shares to Rick’s during that particular month and Rick’s shall have three (3) business days to elect to buy the Rick’s Shares or instruct the respective Seller(s) to sell the Rick’s Shares in the open market. At Rick’s election, during any given month, it may either buy the Rick’s Shares or, if Rick’s elects not to buy the Rick’s Shares from the respective Seller(s), then such Seller(s) shall sell the Rick’s Shares in the open market and any deficiency between the amount which the Seller(s) receive from the sale of the Rick’s Shares and the Value of the Rick’s Shares (the “Deficiency”) shall be paid by Rick’s within three (3) business days after receipt of written notice from the respective Seller(s) of the sale of the Rick’s Shares which shall provide the written sales confirmation and the amount of the Deficiency. Rick’s obligation under this Section 1.3 to purchase the Rick’s Shares from any respective Seller shall terminate and cease at such time as such Seller has received an aggregate amount of $150,000 from (i) the sale of the Rick’s Shares, regardless of whether sold to Rick’s, sold in the open market or in a private transaction or otherwise, and (ii) the payments of any Deficiency by Rick’s. Each of the Sellers, individually, agree to provide monthly statements to Rick’s as to the total number of Rick’s Shares which Seller sold and the amount of proceeds derived therefrom. Nothing contained in this Section 1.3 shall limit or preclude any Seller from selling their Rick’s Shares in the open market or require any Seller to “Put” their Rick’s Shares to Rick’s during any given month. In the event that Sellers elect to sell their Rick’s Shares pursuant to this Section 1.3, then any amount sold at prices less than $23.00 shall be deemed to be sold at $23.00 for purpo...
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Related to Right of Sellers to “Put” Shares

  • Conditions to Purchaser’s Obligation to Purchase The obligation of the Purchaser hereunder to purchase the Securities at the Closing is subject to the satisfaction, on or before the Closing Date, of each of the following conditions, provided that these conditions may be waived by the Purchaser at any time in its sole discretion:

  • PROVISIONS OF THIS AGREEMENT APPLICABLE ALLOTTEE/ SUBSEQUENT ALLOTTEES It is clearly understood and so agreed by and between the Parties hereto that all the provisions contained herein and the obligations arising hereunder in respect of the said Apartment/ Plot and the Project shall equally be applicable to and enforceable against and by any subsequent Allottee of the Apartment/ Plot, in case of a transfer, as the said obligations go along with the Apartment/ Plot for all intents and purposes.

  • CONDITIONS TO EACH BUYER’S OBLIGATION TO PURCHASE The obligation of each Buyer hereunder to purchase the Notes and Warrants at the Closing is subject to the satisfaction, at or before the Closing Date of each of the following conditions, provided that these conditions are for such Buyer's sole benefit and may be waived by such Buyer at any time in its sole discretion:

  • CONDITIONS TO EACH PURCHASER'S OBLIGATION TO PURCHASE 7.1 The obligation of each Purchaser hereunder to purchase the Common Shares and Warrants to be purchased by it on the date of the Closing is subject to the satisfaction of each of the following conditions, provided that these conditions are for each Purchaser’s sole benefit and may be waived by such Purchaser at any time in such Purchaser’s sole discretion:

  • PROVISIONS OF THIS AGREEMENT APPLICABLE ON ALLOTTEE / SUBSEQUENT ALLOTTEES It is clearly understood and so agreed by and between the Parties hereto that all the provisions contained herein and the obligations arising hereunder in respect of the Project shall equally be applicable to and enforceable against any subsequent Allottees of the [Apartment/Plot], in case of a transfer, as the said obligations go along with the [Apartment/Plot] for all intents and purposes.

  • CONDITIONS TO THE INVESTOR’S OBLIGATION TO PURCHASE SHARES OF COMMON STOCK The obligation of the Investor to buy Purchase Shares under this Agreement is subject to the satisfaction of each of the following conditions on or prior to the Commencement Date and, once such conditions have been initially satisfied, there shall not be any ongoing obligation to satisfy such conditions after the Commencement has occurred:

  • CONDITIONS TO BUYER'S OBLIGATION TO PURCHASE The obligation of Buyer hereunder to purchase the Notes at the Closing is subject to the satisfaction, at or before the Closing Date, of each of the following conditions, provided that these conditions are for Buyer’s sole benefit and may be waived by Buyer at any time in its sole discretion by providing the Company with prior written notice thereof:

  • Conditions to The Purchaser’s Obligation to Purchase The obligation of the Purchaser hereunder to purchase the Note at the Closing is subject to the satisfaction, at or before the Closing Date of each of the following conditions, provided that these conditions are for the Purchaser’s sole benefit and may be waived by the Purchaser at any time in its sole discretion:

  • Conditions to Purchasers’ Obligations at the Closing Purchasers' obligations to purchase the Shares at the Closing are subject to the satisfaction, at or prior to the Closing, of the following conditions:

  • Conditions to Purchaser’s Obligations The obligation of Purchaser to consummate the transactions contemplated by this Agreement is subject to the satisfaction (unless waived in writing by Purchaser) of each of the following conditions on or prior to the Closing Date:

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