Common use of Total Profit Clause in Contracts

Total Profit. (a) Notwithstanding any other provision of this Agreement, in no event shall Grantee's Total Profit (as hereinafter defined) exceed $50.0 million (the "Limitation Amount") and, if the total amount that would otherwise be received by Grantee otherwise would exceed such amount, Grantee, at its sole election, shall either (i) reduce the number of shares of Issuer Common Stock subject to this Option, (ii) deliver to issuer for cancellation Option Shares previously purchased by Grantee, (iii) reduce the amount of the Option Repurchase Price or the Option Share Repurchase Price, (iv) reduce the fee payable to Grantee pursuant to Section 9.5(b)(i) of the Merger Agreement, (v) pay cash to Issuer, or (vi) any combination thereof, so that Grantee's actually realized Total Profit, shall not exceed the Limitation Amount after taking into account the foregoing actions.

Appears in 2 contracts

Samples: Stock Option Agreement (Pride International Inc), Stock Option Agreement (Marine Drilling Companies Inc)

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Total Profit. (a) Notwithstanding any other provision of this Agreement, in no event shall Grantee's Total Profit (as hereinafter defined) exceed $50.0 million (the "Limitation Amount") and, if the total amount that would otherwise be received by Grantee otherwise would exceed such amount, Grantee, at its sole election, shall either (i) reduce the number of shares of Issuer Common Stock subject to this Option, (ii) deliver to issuer for cancellation Option Shares previously purchased by Grantee, (iii) reduce the amount of the Option Repurchase Price or the Option Share Repurchase Price, (iv) reduce the fee payable to Grantee pursuant to Section 9.5(b)(i9.5(a)(i) of the Merger Agreement, (v) pay cash to Issuer, or (vi) any combination thereof, so that Grantee's actually realized Total Profit, shall not exceed the Limitation Amount after taking into account the foregoing actions.

Appears in 2 contracts

Samples: Stock Option Agreement (Pride International Inc), Stock Option Agreement (Marine Drilling Companies Inc)

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Total Profit. (a) Notwithstanding any other provision of this Agreement, in no event shall the Grantee's ’s Total Profit (as hereinafter defined) exceed $50.0 million 2,800,000 (the "Limitation Amount"“Maximum Profit”) and, if the total amount that would otherwise be received by Grantee it otherwise would exceed such amount, the Grantee, at its sole election, shall either (i) reduce the number of shares of Issuer Common Stock subject to this Option, (ii) deliver to issuer Issuer for cancellation Option Shares previously purchased by GranteeGrantee valued at fair market value at the time of delivery, (iii) pay cash to Issuer, (iv) increase or otherwise adjust the Purchase Price or any portion thereof, (v) reduce the amount of the Option Section 8 Repurchase Price or the Option Share Repurchase Price, (iv) reduce the fee payable to Grantee pursuant to Section 9.5(b)(i) of the Merger Agreement, (v) pay cash to IssuerConsideration, or (vi) any combination thereof, thereof so that Grantee's ’s actually realized Total Profit, Profit shall not exceed the Limitation Amount Maximum Profit after taking into account the foregoing actions.

Appears in 1 contract

Samples: Stock Option Agreement (Bb&t Corp)

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