Sell Back Option Clause Samples

Sell Back Option. The Parties agree that, in the event of any claim or suit against, or liability of the Controller or/ and Purchaser, or loss of ownership/ use right of the Target Assets by the Purchaser, or the impossibility of conducting the Target Business, which arise from a material violation of this Agreement by the Seller and/or Guarantor (including but not limited to a violation of the non-compete provisions applicable to such Parties and their affiliate), malicious act or negative act, false statement and concealment, the Purchaser is entitled to exercise a Sell Back Option, subject to which the Purchaser can resell the Target Assets and Target Business to the Seller according to provisions as follows.

Sell Back Option. On April 1 and October 1 of each year, a cash-out option shall be available using the sell back schedule listed below. The maximum allowable time to be cashed out shall not exceed 80 hours from the primary bank. To be eligible for the sell back option, an employee must have used 80 hours of PTO in the previous 12 months. Years of Service Payment percentage

Sell Back Option. An employee with ten (10) or more years of service may sell back one calendar week of vacation (seven calendar days) each calendar year at his/her applicable regular weekly rate of pay. An employee choosing this option must notify the Department no later than two calendar weeks prior to the closing date for the scheduling of the vacation period for which the employee elects to sell back a vacation week and shall not be entitled to any vacation for the vacation week sold back.

Sell Back Option. A. Buyer has a sell back option (“Sell Back Option”), but not an obligation, to sell the Property back to the Seller at a price (“Sell Back Price”) equivalent to 75% of the original Purchase price that Buyer paid Seller for the Property under this Agreement. This option must be exercised, if at all, before 90 days prior to the third anniversary date of close of escrow (▇▇▇) by providing written notice to Seller. Such notice shall be delivered by either certified mail or courier to Seller’s address as follows: ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇. ▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇ . B. Failure to timely exercise said Sell Back Option will be deemed as waiver of it. C. Any efforts by Buyer to sell or otherwise transfer the title of the Property during the first 3 years after ▇▇▇ will be deemed as voluntary forfeiture of the Sell Back Option by Buyer. The Buyer’s Sell Back Option is not transferrable. D. In fulfilling the Sell Back Option, Seller may pay Buyer the Sell Back Price with one payment or with 12 equal monthly installments.

Sell Back Option. 5 On April 1 and October 1 of each year, a cash-out option shall be available using the sell back schedule 6 listed below. The maximum allowable time to be cashed out shall not exceed 80 hours from the primary 7 bank. To be eligible for the sell back option, an employee must have used 80 hours of PTO in the 8 previous 12 months. 9 Years of Service Payment percentage 10 0<2 25% 11 2<5 30% 12 5<8 50% 13 8<10 80% 14 10+ 100% 15 Section D. Reserve Bank 16 Maximum Accrual 720 hours 17 2. Use of Reserve Bank 18 Extended illness or disability beyond (3) days and Funeral leave PTO hours will be paid at the current 19 rate of the employee at the time the PTO is taken.

Sell Back Option. 8.1 The Parties agree that, Party B is entitled to exercise a Sell Back Option to sell the Target Equity Interest back to Party A according to the following provisions, provided that Party B or the Company is subject to any claims, recourse, legal liabilities, is caused to loss the title of Target Equity Interest, or is prevented from operating the Company’s business, due to Party A’s material breach of this Contract (including but not limited to a violation of the non-competition provisions applicable to Party A and its Affiliates), malicious act and/or inaction, false statement and concealment. 8.2 The exercise period of the Sell Back Option is 3 years following the Completion Date of Equity Transfer. 8.3 Party B has a complete and independent option to resell the Target Equity Interest to Party A when exercising the Sell Back Option. Party A shall refund Party B the Equity Transfer Price already paid and pay a breach penalty calculated at an annual interest of 15% of the Equity Transfer Price already paid within 10 days after receipt of the notice issued by Party B. When Party B exercises the Sell Back Option, Party A agrees to execute all necessary documents and take all necessary action according to this Contract, including but not limited to timely executing documents required for alteration approval and registration with the competent government authorities. 8.4 In the event that a circumstance prescribed in Article 8.1 occurs but Party B does not exercise the Sell Back Option, Party B is entitled to rectify and adjust the Equity Transfer Price contemplated hereunder, and the adjusted Equity Transfer Price shall not exceed 70% of the original Equity Transfer Price. Party A shall refund the margin of the Equity Transfer Price before and after such adjustment unconditionally to Party B in the manner accepted by Party B within 10 days after receipt of written notice issued by Party B. In the event that Party A fails to pay such margin, Party B is entitled to deduct the margin from any fund payable to Party A.

Sell Back Option. One time each year, during the month of December, an employee may elect to "sell" accrued PTO to the employer. The following guidelines must be met in order for an employee to qualify to "sell" accrued PTO: 1. The number of hours to be "sold" by the employee does not reduce their account to less than 80 hours.