Sell Option definition
Examples of Sell Option in a sentence
If the Sell Option is accepted, the Offeree shall contemporaneously deliver a certified or bank check drawn on a bank that is a member of the New York Clearinghouse Association payable to the order of Citibank, N.A. or another bank agreed to by the parties, as escrow agent (the “Buy-Sell Escrow Agent”), in an amount equal to the Buy-Sell Deposit.
The closing of the transactions under the HGF Sell Option shall take place no later than 60 days after the expiration of the Response Period.
If either Mobil or Volvo fails to respond to the ▇▇▇▇▇▇▇▇ Buy-Sell Notice within the thirty (30) day period, the party which failed to respond shall be deemed to have elected the Sell Option.
If both Mobil and Volvo elect the Sell Option ----------- (or are deemed to have selected the Sell Option and thereby became "Selling Partners"), each ▇▇▇▇▇▇▇▇ Partner shall, in the absence of a contrary agreement between them, be entitled and obligated to purchase that proportion of the Selling Partners' Entire Interests as such ▇▇▇▇▇▇▇▇ Partner's Partnership Interest bears to the Partnership Interests of all of the ▇▇▇▇▇▇▇▇ Partners.
If the Offeree does not elect the Buy Option within the Response Period, the Offeree shall be deemed to have elected the Sell Option.