SCI’s Put Option definition
Examples of SCI’s Put Option in a sentence
Specifically, but without limitation, ▇▇▇▇▇▇’▇ may cause one of its affiliates to purchase SCI’s interest pursuant to SCI’s Put Option or pursuant to ▇▇▇▇▇▇’▇ First Call Option or ▇▇▇▇▇▇’▇ Second Call Option.
The purchase price to be paid by ▇▇▇▇▇▇’▇ upon exercise of SCI’s Put Option shall be equal to the lesser of (i) the ratio of Three Million Five Hundred Thousand Dollars ($3,500,000) for every full Two Million Dollars ($2,000,000) in Restaurant Level Profit or (ii) Thirty Five Million Dollars ($35,000,000).
After ▇▇▇▇▇▇’▇ exercises ▇▇▇▇▇▇’▇ First Call Option or ▇▇▇▇▇▇’▇ Second Call Option or SCI’s exercise of SCI’s Put Option, SCI will be paid Two Hundred Fifty Thousand Dollars ($250,000), for any new location developed and offered to the Company by SCI which results in the opening of a new restaurant location.
These payments shall cease upon ▇▇▇▇▇▇’▇ exercise of ▇▇▇▇▇▇’▇ First Call Option or ▇▇▇▇▇▇’▇ Second Call Option, SCI’s exercise of SCI’s Put Option or the dissolution of the Company pursuant to Article X.