Continuing Option definition
Examples of Continuing Option in a sentence
The Company shall be entitled to receive customary representations and warranties from the Foundation regarding such sale of Continuing Option Securities (including representations regarding good title to such shares, free and clear of all liens, claims, security interests and other encumbrances).
The Company shall pay for the Continuing Option Securities that it shall purchase pursuant to the Continuing Option at the closing thereof by wire transfer of immediately available funds to a bank account designated by the Foundation.
At such closing, the Foundation shall deliver to the Company a certificate or certificates representing the number of Continuing Option Securities purchased by the Company as specified in the Continuing Option Notice, free and clear of all liens, claims, security interests and other encumbrances.
The Continuing Option Notice shall state the number of Continuing Option Securities that the Company shall purchase pursuant to the Continuing Option, the aggregate purchase price therefor, and the closing date of the Company's purchase of the Continuing Option Securities, which shall take place within sixty (60) days of the date of the Continuing Option Notice.
The Continuing Option Notice shall state the number of Continuing Option Securities that the Company shall purchase pursuant to the Continuing Option, the aggregate purchase price therefor, and the closing date of the Company's purchase of the Continuing Option Securities, which shall take place within thirty (30) days of the date of the Continuing Option Notice.
Holdings and the JWC Group shall have performed all obligations required to be performed by them under this Agreement at or prior to the Closing Date, and Jillian's, the Continuing Shareholders, the Other Option Holders, the Continuing Option Holders, the Borrowers and the Continuing Warrant Holders shall have received a certificate signed by each such party to such effect.
The representations and warranties of Holdings and JWC set forth in this Agreement shall be true and correct as of the date of this Agreement and as of the Closing Date as though made on and as of the Closing Date, except for changes contemplated by this Agreement, and Jillian's, the Continuing Shareholders, the Other Option Holders, the Continuing Option Holders, the Borrowers and the Continuing Warrant Holders shall have received a certificate signed by each such party to such effect.
The term, exercisability, and vesting schedule of each Continuing Option will to the extent permitted by Law be unchanged.
The Company shall be entitled to receive customary representations and warranties from the Holders regarding such sale of Continuing Option Securities (including representations regarding good title to such shares, free and clear of all liens, claims, security interests and other encumbrances).
The Continuing Option Holders will each execute and deliver a Holdings Management Option, at the Closing, exercisable for such number of shares of Holdings Common as set forth on Schedule 2 hereto.