Third Party Option definition
Examples of Third Party Option in a sentence
Neither the execution and delivery by the Seller Parties of this Agreement nor the consummation of the Transactions contemplated hereunder is subject to a Material Third Party Option.
The exercise of each Corresponding Option shall be conditional on (i) Closing (as defined in the Subscription Agreement) under the Subscription Agreement and (ii) exercise of the related Third Party Option.
By: Title: Address: Date of Grant _________________ This form is being submitted as written notice requesting a substitution of the balance currently attributable to the employee under the American Greetings Corporation Executive Deferred Compensation Plan (“the Deferral Plan”), into options under the American Greetings Corporation Executive Third Party Option Plan (“the Plan”).
The Acquisition Options and the Third Party Option shall be exercised by the delivery of written notice from Champagne to WorkLife within ten (10) days after the date the option becomes effective evidencing his desire to exercise such option.
Upon receipt of the Third Party Offer Notice and certificate, Purchaser shall have the option (the "Third Party Option") to purchase the Notes from Seller, which option must be exercised in the manner described in Section 3.1 within three Business Days of receipt of the Third Party Offer Notice and certificate.
In the event one Party is in material default of its obligations under a Third Party Option such that the Third Party Option is at risk of termination and the other Party effectively cures the default, the defaulting Party shall assign its interest in the Third Party Option to the other Party.
If Purchaser does not exercise the Third Party Option during such three Business Day period, Seller shall then be entitled to sell the Notes in accordance with the terms and conditions set forth in the Third Party Offer Notice to the third party making such offer for a period of five Business Days, after which Seller shall be required to re-deliver a Third Party Offer Notice and certificate pursuant to this paragraph (a) prior to any sale of the Notes to a third party.
Purchaser hereby acknowledges and agrees that nothing in this Agreement shall prevent the broadcast, screening, public performance, making available to the public or distribution by any person or entity of works based on the Work or on Owner’s life story, which were made prior to the execution of this Agreement, or which are made by the third party holding the Third Party Option in the event that the Third Party Option is exercised during the Existing Option Period.
If Champagne fails to exercise its Third Party Option within 10 days after receiving written notice of the third party's offer, WorkLife may accept the third party's offer, and Champagne's Acquisition Options shall be terminated.
Either Party hereto may, with the consent of the other Party, grant an option (the "Third Party Option") to a third party to acquire an interest in and to some or all of its Interest in the Property.