Default Put Option definition

Default Put Option means, in relation to any Non-Indemnified Event of Default, the right of any Non-Defaulting Shareholder to require the Defaulting Shareholder to purchase all the Default Option Shares from the Non-Defaulting Shareholder at 120% of the Fair Market Value per Share (as defined in Exhibit G).
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Default Put Option. Section 12.1(b)
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Default Put Option means the put option pursuant to Clause 9.6(a).
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Examples of Default Put Option in a sentence

  • The provisions of Section 9.4 above shall apply, mutatis mutandis, to the exercise of the Default Call Option and the Default Put Option, provided that the [*] period contemplated thereunder shall be reduced to [*].

  • To the extent applicable, the Non-Defaulting Shareholder may require a concurrent determination of Fair Market Value and Net Book Value for purposes of both the Default Call Option and Default Put Option.

  • Failure by the Non-Defaulting Shareholder to exercise its Default Call Option or Default Put Option shall not prejudice its right to make subsequent FMV Determination Requests or Net Book Value Determination Requests or subsequently exercise its Default Call Option or Default Put Option so long as an Event of Default has occurred and is continuing.

  • The effects on each Ancillary Agreement of the exercise of a Default Call Option or Default Put Option hereunder shall be as specifically set forth in such Ancillary Agreement.

  • We hereby give you notice that we require you to purchase from us in accordance with the terms and conditions of the Default Put Option, all the Shares for the time being held by us, such sale to be completed on the date specified in Clause 21 of the Joint Venture Agreement.

  • The price that SFDC shall pay for such shares subject to the SB Default Put Option shall be the Fair Market value as defined in Section 13.5 less a Fifteen Percent (15%) discount.

  • The Founders shall complete the purchase of the Default Put Option Shares within the time (“Default Put Date”) specified in the Default Put Notice, which shall be within 45 (forty-five) days from the issuance of the Default Put Notice and the Default Put Option Price shall be transferred the bank account designated by the Investor.

  • SFDC’s waiver of its right to exercise its Default Put Option pursuant to Section 13.2(b) shall in no way result in the automatic termination of this Agreement unless SFDC shall have exercised its right to terminate the Agreement.

  • The price that SFDC shall pay for such shares subject to the SFDC Default Put Option shall be the Fair Market value as defined in Section 13.5 plus an additional Fifteen Percent (15%) premium.

  • The Put Option may be exercised in respect of all (but not some only) of the Put Option Securities by sixty (60) days’ notice from the Purchaser to the Vendor given at any time after the occurrence of a Put Option Triggering Event or a Default Put Option Triggering Event.


More Definitions of Default Put Option

Default Put Option shall have the meaning ascribed to it in Clause 21.1(b);
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Default Put Option has the meaning set out in clause 18.2(B) (Default options);
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