Third Call Option Sample Clauses
A Third Call Option clause grants a specified party, typically the issuer of a security or the counterparty in a contract, the right to repurchase or redeem an asset for a predetermined price at a third specified time or event. In practice, this means that after two prior call options have been exercised or expired, the holder of the third call option can choose to buy back bonds, shares, or other assets according to the terms set out in the agreement. This clause provides flexibility for the issuer or party with the call right, allowing them to manage financial obligations or respond to market changes, and it helps allocate risk by defining clear terms for asset repurchase.
Third Call Option. The H&Q Parties hereby grant to each Buyer the right and option (the "Third Call Option", and together with the First Call Option and the Second Call Option, the "Call Options") at any time during the period beginning on July 6, 2004 and ending at 8:00 P.M., New York City time, on July 12, 2004 (the "Third Call Exercise Period") to require the H&Q Parties to sell to the Buyers up to the number of Covered Securities set forth opposite each Buyer's name on Exhibit C hereto under the heading "Upon Exercise of the Third Call Option."
Third Call Option. By valid delivery of a Call Option Notice (as set forth below), DPI may elect to exchange on the Third Anniversary Date shares of common stock of DPI for up to seventy-five percent (75%) of the IPO-Time Shares (less any IPO-Time Shares previously sold to DPI under Section 2 or 3).
Third Call Option. If any Option Shares are transferred and assigned to the Executives ----- pursuant to the exercise of one or more Second Call Options, then, in such case, subject to Sections 9, 10 and 11, each Executive hereby grants to the Company the right and option (the "Third Call Option") to purchase all, but not less than all, of the Option Shares owned by such Executive for a purchase price per share equal to the Last Option Purchase Price. The Third Call Option shall be exercisable at any time during the Last Option Exercise Period. If the Company exercises a Third Call Option or a Fourth Option at any time as to any Option Shares or Third Option Shares then owned by an Executive or the Manager, it shall be obligated to exercise at the same time its Third Call Options as to all Option Shares then owned by the Executives.
Third Call Option