VAI definition
Examples of VAI in a sentence
In order to exercise the VAI Right, FDIC shall deliver to the Company a written notice in the form of Exhibit A hereto (the “Exercise Notice”), at any time on or after the date on which the VAI Right becomes exercisable as provided in Section 3(c).
The number of Units to which the VAI Right relates shall be appropriately adjusted, as determined by the managing board of the Company, to reflect fully the effect of any stock split, reverse stock split, stock dividend (including any dividend or distribution of securities convertible into Units), reclassification, reorganization, recapitalization or similar transaction occurring after the date hereof and prior to the expiration of the Term.
The VAI Right may be exercised in whole or in part at any time commencing on the delivery date of the Trigger Notice (the “Initial Exercise Date”) and continuing until the expiration of the Term at which time the VAI Right or any unexercised portion thereof shall be extinguished.
After receipt of the Exercise Notice in the manner set forth above, on the first Business Day following the Company’s receipt of the Exercise Notice, the Company shall deliver to the FDIC or any other holder of the VAI Right as a result of a Transfer, the VAI Payment in the form that such holder may elect pursuant to Section 2(a).
A VAI site form will be prepared for all identified archaeological sites or districts.
FDIC may Transfer its right, title and interest in and to all or part of the VAI Right without the consent of the Company (provided that FDIC shall notify the Company pursuant to Section 7 below prior to any such Transfer) at any time prior to the expiration of the Term, so long as such Transfer does not violate any applicable law, rule or regulation.
A full documentation package including APE, VTrans DOE, archaeology reports, End of Field (EOF) letters, VAI and VARI forms, and Assessment of Effect shall be submitted to SHPO within 30 days of making a determination of eligibility and finding of effect.
The VAI Right shall become exercisable, in whole or in part, only upon the earlier of (i) the occurrence of a Public Float Event, or (ii) the closing of a Sale Event (any such event in clause (i) or (ii), a “Trigger Event”).
In the event that a Trigger Event does not occur prior to the expiration of the Term or a Trigger Event occurs but the FDIC does not exercise fully the VAI Right, then upon the expiration of the Term the Company shall pay to the FDIC a cash fee equal to the product of (x) the number of unexercised Units and (y) the Settlement Price per Unit.
As a result of Verizon’s acquisition of the Transferred Shares, each of the Sold Entities shall, except as a result of the existence of the VAI Preferred Shares, become a direct or indirect wholly owned Subsidiary of Verizon.