Purchase Option Date definition

Purchase Option Date is defined in Section 9.7 of the Company LLC Agreement.

Purchase Option Date has the meaning specified for such term in Section 19(b) of the Lease.

Purchase Option Date shall have the meaning set forth in Section 12.24.

Examples of Purchase Option Date in a sentence

• SELWAY CAPITAL ACQUISITION CORPORATION By: Name: Title: [Form to be used to exercise Purchase Option: Date: , 20___ The undersigned hereby elects irrevocably to exercise the Purchase Option for [___] Units of Selway Capital Acquisition Corporation and hereby makes payment of $[_________] (at the rate of $[___________] per Unit) in payment of the Exercise Price pursuant thereto.

• The Charterers shall accept the Vessel on an “AS IS, WHERE IS” basis with all faults, defects and deficiencies whatsoever and without recourse on the Purchase Option Date and, at the Charterers’ sole cost and expense, the Owners shall take such reasonable steps to obtain and furnish such other documents and take such other actions as the Charterers may reasonably request in order to facilitate the sale and re-registration of the Vessel under such flag as the Charterers may designate.

• Such Purchase Option shall permit Lessee to purchase the Leased Property (a) on the last day of the Initial Term or (b) on the last day of any Extended Term effectively exercised by Lessee (each of such dates are referred to herein as a "Purchase Option Date") and shall be exercised by notice given by Lessee to Lessor (the "Lessee's Purchase Option Notice") at least one hundred eighty (180) days (but not more than three hundred sixty (360) days) prior to the relevant Purchase Option Date.

• If Buyer does not exercise the Purchase Option during the Exercise Period, then the Price Determination shall be null and void, and Buyer may not request a new determination of the Purchase Price until the next Purchase Option Date.

• If Lessor shall be unable to give title or to make conveyance, as stipulated in this Section 18.3, then, at Lessor's option, Lessor shall use reasonable efforts to remove all defects in title and the applicable Purchase Option Date and Time of Closing shall be extended for period of thirty (30) days other than with respect to any Encumbrances which Lessor has caused to exist.

More Definitions of Purchase Option Date

Purchase Option Date. As defined in Section 18.3.

Purchase Option Date has the meaning set forth in Section 9.3(b).

Purchase Option Date means, with respect to a Purchase Option, the first date such Purchase Option is exercisable.

Purchase Option Date means the date indicated in the Purchase Option Notice, being a day on which the Charterers may complete the exercise of the Purchase Option in accordance with Clause 55 (Purchase Option).

Purchase Option Date has the meaning given to such term in paragraph (a) of Clause 54 (Purchase Option and early termination, purchase obligation and transfer of title).

Purchase Option Date has the meaning specified in Schedule I.

Purchase Option Date means the date falling on the fifth (5th) anniversary of the Restructuring Date and each of the dates falling at six (6) calendar months intervals thereafter, up to (and including) the expiry of the Charter Period; provided that should any Purchase Option Date fall on a date other than a Business Day, that Purchase Option Date shall be advanced to be the immediately preceding Business Day.” (n) The reference to “Appendix IV” in the definition of “Purchase Option Price” in clause 1.1 of the Common Terms Agreement shall be updated to refer to “Appendix III”. (o) Deleting the definition of “Quotation Day” in clause 1.1 of the Common Terms Agreement and replacing it with the following new definition: “Quotation Day” means, in relation to any period for which an interest rate is to be determined, five (5) Business Days before the first day of that period (unless market practice differs in the relevant syndicated loan market, in which case the Quotation Day will be determined by the Owner in accordance with that market practice (and if quotations would normally be given on more than one day, the Quotation Day will be the last of those days)).” (p) Including a new definition of “Restructuring Charter-hire Principal” in clause 1.1 of the Common Terms Agreement as follows: “Restructuring Charter-hire Principal” means an amount equal to the Charter-hire Principal as of the Restructuring Date, being US$630,000,000.” (q) Including a new definition of “Restructuring Date” in clause 1.1 of the Common Terms Agreement as follows: “Restructuring Date” means 20 June 2023.” (r) Including a new definition of “SOFR” in clause 1.1 of the Common Terms Agreement as follows: “SOFR” means the secured overnight financing rate administered by the Federal Reserve Bank of New York (or any other person which takes over the administration of that rate) published (before any correction, recalculation or republication by the administrator) by the Federal Reserve Bank of New York (or any other person which takes over the publication of that rate).” (s) Including a new definition of “Term SOFR” in clause 1.1 of the Common Terms Agreement as follows: “Term SOFR” means: (a) the Term SOFR reference rate administered by CME Group Benchmark Administration Limited (or any other person which takes over the administration of that rate) for the relevant period published (before any correction, recalculation or republication by the administrator) by CME Group Benchmark Administration Limited (or any o...