Surrender Agreements Sample Clauses
A Surrender Agreement clause outlines the terms under which a tenant voluntarily gives up possession of leased property before the lease term expires. This clause typically details the process for notifying the landlord, the condition in which the property must be returned, and any financial obligations such as payment of outstanding rent or surrender fees. Its core practical function is to provide a clear, mutually agreed-upon process for ending a lease early, thereby minimizing disputes and ensuring both parties understand their rights and responsibilities during the surrender.
Surrender Agreements. Innovate shall have received copies of the Share Surrender Agreements and Option Surrender Agreements, duly executed by each of the Company Shareholders and the holders of Company Options.
Surrender Agreements. Seller and Personality shall have executed and delivered the Personality Surrender Agreement and Seller shall have delivered a copy of the executed Personality Surrender Agreement to Buyer. Handcraft and Personality shall have executed and delivered the Handcraft Surrender Agreement and Seller shall have delivered a copy of the executed Handcraft Surrender Agreement to Buyer; and
Surrender Agreements. On 31 May 2017, ▇▇▇ has entered into the Surrender Agreements with ORL and ▇▇▇▇▇▇ respectively to surrender the Surrendered Premises under the Third Existing Tenancy Agreement and the Ninth Existing Tenancy Agreement on 30 June 2017. ORL and Marina are indirectly wholly-owned by the ▇▇▇▇▇▇ Family Trust which indirectly holds 51.56% of the shares of the Company in issue. As such, ORL and Marina are connected persons of the Company under the GEM Listing Rules. Accordingly, the Surrender Agreements constitute continuing connected transactions for the Company. Pursuant to the Surrender Agreements, TSO shall surrender the Surrendered Premises under the Third Existing Tenancy Agreement and the Ninth Existing Tenancy Agreement to ORL and Marina respectively on 30 June 2017. Accordingly, the Company is subject to the announcement requirement under the Note to Rule 20.33 of the GEM Listing Rules. On 31 May 2017, GEL, ▇▇▇ and ORL as landlords entered into the New Tenancy Agreements with TSO (a wholly-owned subsidiary of the Company) as tenant in relation to the tenancies of the Properties. The principal terms of the New Tenancy Agreements are set out below:
Surrender Agreements. Each individual who is a holder of an Option that is outstanding and unexercised as of the date hereof has executed and delivered an Option Surrender Agreement (or, in the case of holders of Unvested Options, an Option Surrender and Waiver Agreement) each to become effective as of, and contingent upon, the Closing, effectuating the provisions of this Section 1.3. Each individual who is a holder of an RSU has executed and delivered an RSU Surrender Agreement each to become effective as of, and contingent upon, the Closing, effectuating the provisions of this Section 1.3.
Surrender Agreements. Each holder of any unexpired outstanding Stock Option (whether granted under a Stock Option Plan or otherwise) shall have executed a Surrender Agreement and delivered such Surrender Agreement to MergerCo.
Surrender Agreements. The Company shall use commercially reasonable efforts to obtain an executed surrender agreement, with respect to each Warrant or Option, from each Warrant Holder or Option Holder, as applicable, pursuant to which such Person shall surrender its Warrants or Options, as applicable, in exchange for the applicable portion of the Allocated Merger Consideration as set forth herein.
Surrender Agreements. ORL and Marina are indirectly wholly-owned by the ▇▇▇▇▇▇ Family Trust which indirectly holds 51.56% of the shares of the Company in issue. As such, ORL and Marina are connected persons of the Company under the GEM Listing Rules. Accordingly, the Surrender Agreements constitute continuing connected transactions for the Company. Pursuant to the Surrender Agreements, TSO shall surrender the Surrendered Premises under the Third Existing Tenancy Agreement and the Ninth Existing Tenancy Agreement to ORL and Marina respectively on 30 June 2017. Accordingly, the Company is subject to the announcement requirement under the Note to Rule 20.33 of the GEM Listing Rules.
Surrender Agreements. The Company shall use all commercially reasonable efforts to cause (a) each Vested Company Optionholder that is a Non-Continuing Employee to deliver a duly executed Option Surrender Agreement prior to the Closing Date and (b) each Company RSU Holder to deliver a duly executed RSU Surrender Agreement prior to the Closing Date. Notwithstanding the delivery of any Suitability Documentation to Parent prior to the Closing, any Vested Company Optionholder or Company RSU Holder may, in the reasonable discretion of Parent, be deemed to be an “Accredited Stockholder” or “Unaccredited Stockholder” for purposes of this Agreement.