Election Notification definition
Examples of Election Notification in a sentence
If Bayer either: (i) does not deliver the Election Notification to Licensee within the *** notice period; or (ii) elects not to undergo the First Offer Right Procedure; then, in each case, the conditions precedent to the exercise of the Partnering Right shall be deemed satisfied and Licensee shall have the right (but not the obligation), at any time thereafter, to exercise the Partnering Right, subject to the other terms and conditions of this Agreement.
For a period of *** after Licensee’s receipt of the Election Notification from Bayer, or such other time frame as may be mutually agreed to by the Parties (the “ROFN Period”), Licensee shall be obligated to negotiate exclusively with Bayer, and both Parties shall negotiate in good faith, to conclude a term sheet for a potential business transaction between the Parties on the basis of the Preferred Deal Structure (a “Term Sheet”).
In the event that Xgene has received a written letter of intent from a third party that provides for Xgene to develop an assay which includes such GCI Elected Assay, Xgene shall provide to GCI written notice of such third party offer explaining the assay to be developed and providing sufficient detail for GCI to consider its interest in developing such assay (Election Notification Letter).
The election of Borrower to pay cash interest on the Convertible Junior PIK Notes shall be sent to Agent in writing five (5) days prior to the first (1st) Business Day of each calendar month (the "Interest Election Notification").
Such electing Investor shall deliver to the Company, not later than five (5) days after timely delivery of the Election Notification, cash payment (or other payment if agreed by such electing Investor and the Company) for the Nonvoting Securities it is purchasing pursuant to this Section 4.1(b).
The PIK Form shall constitute a Valid Form on any Election Notification Date on or prior to October 1, 2009 and shall not constitute a Valid Form on any Election Notification date on or after October 2, 2010.
Each such electing Investor shall deliver to the Company, not later than five (5) days after timely delivery of the Election Notification, cash payment for the Nonvoting Securities it is purchasing pursuant to this Section 4.1(a).
Upon an Election Notification by ▇▇▇ to sell its Shares pursuant to Section 3.3(b)(1)(x) of the IPO Agreement, the Voting Trustee will convert all of the Shares held in the Voting Trustee that are shares of Class B Common Stock to shares of Class A Common Stock in accordance with the optional conversion provisions of the Company’s Amended and Restated Certificate of Incorporation.
If the Borrower fails to send the Interest Election Notification by the time period required above, then the Borrower shall be deemed to have elected to pay Junior PIK Interest in-kind as provided in Section 3.1(a)(iii).
On any date not less than thirty (30) days prior to any Interest Payment Date (the “Election Notification Date”), the Company may Elect the Form of consideration in which interest is payable on such Interest Payment Date; provided that if the Company does not so Elect or Elects an Invalid Form, such interest will be payable either in the then current Form or, if such Form does not constitute a Valid Form on the Election Notification Date or no current Form exists, in Cash Form.