Put Transaction definition
Examples of Put Transaction in a sentence
If the Issuer has not funded and consummated the Equity Put Transaction on or prior to the Outside Date, each Non-Participating Holder may at any time thereafter, by written notice to the Issuer, elect to participate in the Equity Put Transaction.
Notwithstanding the provisions of Sections 9.02(a) and 9.02(b), any Noteholder (a “Non-Participating Holder”), by written notice delivered to the Issuer within 10 calendar days after receipt of the Preservation Notice, may elect to be excluded from the Equity Put Transaction and, instead, shall be required not later than the Equity Put Date to exercise the Warrant portion of all Qualifying Equity held by such Non-Participating Holder.
The effective date of such Put Transaction shall be the date Assignor receives payment of the Put Purchase Price from Assignee.
The Put Closing Date means (i) 90 days after the delivery of the Put Notice, (ii) unless all filings, notices and Authorizations necessary to complete the Put Transaction have not been made, given or obtained by that date in which case the closing date will be extended for up to 45 days in order to make, give or obtain the filings, notices and Authorizations, or (iii) such earlier or later date as the parties to the Put Transaction agree in writing.
Any reference to INVO pertaining to a Put Transaction in this Section 8.4 (other than any reference to INVO’s guarantee of its assignees’ performances with respect thereto) shall be deemed to refer to INVO (if it holds an unassigned interest in the Call Option) and its assignees of any portion of its rights and obligations with respect to the Put Option under this Section 8.4, acting jointly.
Notwithstanding the foregoing, INVO shall remain liable for the failure by a third-party designee to consummate the Put Transaction and to pay its portion of the Purchase Price.
The closing of such sale of Preferred Stock shall occur contemporaneously with the consummation of the Put Transaction.