Tranche One Sample Clauses
The 'Tranche One' clause defines the initial portion or installment of a larger financial commitment, investment, or payment under an agreement. It typically specifies the amount, timing, and conditions under which the first tranche will be disbursed or become effective, such as meeting certain milestones or delivering required documentation. This clause ensures that obligations are phased and that parties have clear expectations regarding the commencement and structure of the first stage of performance or funding, thereby managing risk and providing a framework for subsequent tranches.
Tranche One. Seller agrees to sell to Buyer and Buyer agrees to buy from Seller, at any time prior to the close of business on January 31, 2013, 10,000 Units at a price of $12 per Common Unit, for an aggregate amount of $120,000
Tranche One. Immediately upon the execution of this Agreement, the First Tranche Purchaser shall purchase from the Seller, and the Seller shall sell and transfer to the First Tranche Purchaser, Convertible Notes in the principal amount of $160,000.00 and Term Notes in the principal amount of $40,000.00, inclusive of all accrued but unpaid interest (the “First Tranche Notes”), in consideration of the forgiveness of all amounts outstanding under the loan advanced by Mr. Silver to the Seller to fund the Seller’s purchase of the Notes in January 2024 (the “First Tranche Closing”).
Tranche One. An amount of the Earn-Out Purchase Price shall be ----------- allocated to the Storehouse Shareholders in proportion to their respective share ownership in Storehouse at Tranche One as reflected in Exhibit A (or as modified --------- pursuant to Section 10.3(d)) until the ESOP receives an amount pursuant to this Subsection (b) equal to the cost to the ESOP of the number of shares of Storehouse Common Stock allocated to the participants in the ESOP as of the Common Stock Closing Date less the amount of the Base Purchase Price paid to the ESOP pursuant to Section 3.5(a); provided, however, that such amount shall be -------- ------- net (where applicable in the case of the Category II Shareholders) of the portion of the Option Exercise Price as to Storehouse Common Stock of such Storehouse Shareholder resulting from the conversion of options pursuant to Section 2.4 that exceeds the Base Purchase Price per share allocable to such shareholder pursuant to Section 3.5(a).
Tranche One. Tranche One consists of 122,441 Restricted Shares. The restrictions set out above will cease to apply to one-quarter of those Restricted Shares on each anniversary of this agreement (and they will therefore to that extent cease to be Restricted Shares). In the event of termination of this agreement (howsoever arising), the restrictions will cease to apply to all Tranche One Shares immediately on the date of termination of this agreement, except that any Tranche One Shares which remain Restricted Shares will be repurchased in accordance with clause 3.5 if the Company terminates your appointment in circumstances amounting to fraud or gross negligence on your part; and