Common use of Closing Procedure Clause in Contracts

Closing Procedure. The Company or its assigns shall effect the Repurchase (if so elected) by delivering or mailing to the Participant (and/or, if applicable, any Permitted Transferees) written notice within six (6) months after the Termination Event or Bankruptcy or, if later, six (6) months after any exercise of the Option, specifying a Repurchase closing date within thirty (30) days after expiration of the applicable six (6) month period. Upon such notification, the Participant and any Permitted Transferees shall promptly surrender to the Company any certificates representing the Shares being purchased, together with a duly executed stock power for the transfer of such Shares to the Company or the Company’s assignee or assignees. Upon the Company’s or its assignee’s receipt of the certificates from the Participant or any Permitted Transferees, the Company or its assignee or assignees shall deliver to him, her or them a check for the Repurchase Price of the Shares being purchased; provided, however, that the Company may pay the Repurchase Price for such Shares by offsetting and canceling any indebtedness then owed by the Participant to the Company. At such time, the Participant and/or any holder of the Shares shall deliver to the Company the certificate or certificates representing the Shares so repurchased, duly endorsed for transfer, free and clear of any liens or encumbrances.

Closing Procedure. The Company or its assigns shall effect the Repurchase (if so elected) by delivering or mailing to the Participant Optionee (and/or, if applicable, any Permitted TransfereesTransferee) written notice within six (6) months after the Termination Event or Bankruptcy or, if later, six (6) months after any exercise of the OptionEvent, specifying a Repurchase closing date within thirty (30) days after expiration of such six-month period in which the applicable six (6) month periodRepurchase shall be effected. Upon such notification, the Participant Optionee and any Permitted Transferees shall promptly surrender to the Company any certificates representing the Option Shares being purchased, together with a duly executed stock power for the transfer of such Option Shares to the Company or the Company’s assignee or assignees. Upon the Company’s or its assignee’s receipt of the certificates from the Participant Optionee or any Permitted Transferees, the Company or its assignee or assignees shall deliver to him, her or them a check for the Repurchase Price of the Repurchasable Shares being purchased; provided, however, that the Company may pay the Repurchase Price for such Shares shares by offsetting and canceling firstly any indebtedness to the Company incurred in connection with the exercise of the Stock Option and then, secondly, any other obligations then owed by the Participant Optionee to the Company. At such time, the Participant Optionee and/or any holder of the Repurchasable Shares being purchased shall deliver to the Company the certificate or certificates representing the Shares shares so repurchased, duly endorsed for transfer, free and clear of any liens or encumbrances.

Closing Procedure. The Company or its assigns shall effect the Repurchase Right (if so elected) by delivering or mailing to the Participant Grantee (and/or, if applicable, any Permitted Transferees) written notice within six (6) months after the Termination Event or Bankruptcy or, if later, six (6) months after any exercise of the OptionEvent, specifying a Repurchase closing date within thirty (30) days after expiration of such six-month period in which the applicable six (6) month periodRepurchase shall be effected. Upon such notification, the Participant Grantee and any Permitted Transferees shall promptly surrender to the Company any certificates representing the Shares being purchased, together with a duly executed stock power for the transfer of such Shares to the Company or the Company’s 's assignee or assigneesassignees (if applicable). Upon the Company’s 's or its assignee’s 's receipt of the certificates from the Participant Grantee or any Permitted Transferees, the Company or its assignee or assignees shall deliver to him, her or them a check for the Repurchase Price purchase price of the Shares being purchased; provided, howeverPROVIDED, HOWEVER, that the Company may pay the Repurchase Price purchase price for such Shares shares by offsetting and canceling any indebtedness then owed by the Participant Grantee to the Company. At such time, the Participant Grantee and/or any holder of the Shares shall deliver to the Company the certificate or certificates representing the Shares so repurchased, duly endorsed for transfer, free and clear of any liens or encumbrances.

Closing Procedure. The Company or its assigns shall effect the Repurchase (if so elected) by delivering or mailing to the Participant Grantee (and/or, if applicable, any Permitted Transferees) written notice within six (6) months after the Termination Event or Bankruptcy or, if later, six (6) months after any exercise of the OptionBankruptcy, specifying a Repurchase closing date within thirty (30) days after expiration of such six-month period in which the applicable six (6) month periodRepurchase shall be effected. Upon such notification, the Participant Grantee and any Permitted Transferees shall promptly surrender to the Company any certificates representing the Shares being purchased, together with a duly executed stock power for the transfer of such Shares to the Company or the Company’s assignee or assignees. Upon the Company’s or its assignee’s receipt of the certificates from the Participant Grantee or any Permitted Transferees, the Company or its assignee or assignees shall deliver to him, her or them a check for the Repurchase Price of the Shares being purchased; , provided, however, that the Company may pay the Repurchase Price for such Shares shares by offsetting and canceling any indebtedness then owed by the Participant Grantee to the Company. At such time, the Participant and/or any holder of the Shares shall deliver to the Company the certificate or certificates representing the Shares so repurchased, duly endorsed for transfer, free and clear of any liens or encumbrances.the

Closing Procedure. The Company or its assigns shall effect the a Repurchase (if so elected) by delivering or mailing to the Participant Grantee (and/or, if applicable, any his Permitted Transferees) written notice within six (6) months after the Termination Event or Bankruptcy or, if later, six (6) months after any exercise of the Optionnotice, specifying a Repurchase closing date within thirty (30not earlier than ten (10) days after expiration from the date of the applicable six (6such notice) month periodon which a Repurchase shall be effected. Upon such notification, the Participant and any Grantee (and/or, if applicable, his Permitted Transferees Transferees) shall promptly surrender to the Company any certificates representing the Restricted Shares being purchasedpurchased free and clear of any liens or encumbrances, together with a duly executed stock power for the transfer of such Restricted Shares to the Company or the Company’s 's assignee or assignees. Upon the Company’s 's or its assignee’s 's receipt of the certificates from the Participant or any Grantee (and/or, if applicable, his Permitted Transferees), the Company or its assignee or assignees shall deliver to him, her or them it, as the case may be, a check for the Repurchase Price purchase price of the Restricted Shares being purchased; , provided, however, that the Company may pay the Repurchase Price purchase price for such Restricted Shares by offsetting and canceling any indebtedness then owed by the Participant Grantee to the Company. At such time, the Participant and/or any holder of the Shares shall deliver to the Company the certificate or certificates representing the Shares so repurchased, duly endorsed for transfer, free and clear of any liens or encumbrances.

Closing Procedure. The Company or its assigns shall effect the Repurchase (if so elected) by delivering or mailing to the Participant Grantee (and/or, if applicable, any his Permitted Transferees) written notice within six (6) months after the Termination Event or Bankruptcy or, if later, six (6) months after any exercise of the OptionBankruptcy, specifying a Repurchase closing date within thirty (30) days after expiration of such six-month period in which the applicable six (6) month periodRepurchase shall be effected. Upon such notification, the Participant Grantee and any his Permitted Transferees shall promptly surrender to the Company any certificates representing the Restricted Shares being purchased, together with a duly executed stock power for the transfer of such Restricted Shares to the Company or the Company’s 's assignee or assigneesassignees (as contemplated by Section 6, if applicable). Upon the Company’s 's or its assignee’s 's receipt of the certificates from the Participant Grantee or any his Permitted Transferees, the Company or its assignee or assignees shall deliver to him, her or them a cashier's check for the Repurchase Price purchase price of the Shares being purchased; provided, however, that the Company may pay the Repurchase Price for such Shares by offsetting and canceling any indebtedness then owed by the Participant to the CompanyRestricted Shares. At such time, the Participant Grantee and/or any holder of the Restricted Shares shall deliver to the Company the certificate or certificates representing the Restricted Shares so repurchased, duly endorsed for transfer, free and clear of any liens lien or encumbrances. The Repurchase obligation specified herein shall survive and remain in effect as to Restricted Shares following and notwithstanding any public offering by the Company and certificates representing such Restricted Shares shall bear legends to such effect.

Closing Procedure. The Company or its assigns shall effect the Repurchase (if so elected) by delivering or mailing to the Participant Grantee (and/or, if applicable, any Permitted TransfereesTransferees or any other applicable person or entity) written notice within six ninety (690) months days after the Termination Event or Bankruptcy or, if later, six (6) months after any exercise of the OptionEvent, specifying a Repurchase closing date within thirty such ninety (3090) days after expiration of day period in which the applicable six (6) month periodRepurchase shall be effected. Upon such notification, the Participant and Grantee, any Permitted Transferees and/or any other applicable person or entity shall promptly surrender to the Company any certificates representing the Restricted Shares being purchased, together with a duly executed stock power for the transfer of such Restricted Shares to the Company or the Company’s 's assignee or assigneesassignees (as contemplated by SECTION 6, if applicable). Upon the Company’s 's or its assignee’s 's receipt of the certificates from the Participant Grantee, any Permitted Transferees or any Permitted Transfereesother applicable person or entity, the Company or its assignee or assignees shall deliver to him, her or them a check for the Repurchase Price purchase price of the Restricted Shares being purchased; provided, howeverPROVIDED, HOWEVER, that if such Restricted Shares are being purchased from the Grantee, the Company may pay the Repurchase Price purchase price for such Shares shares by offsetting and canceling any indebtedness then owed by the Participant to the Company. At such time, the Participant and/or any holder of the Shares shall deliver to the Company the certificate or certificates representing the Shares so repurchased, duly endorsed for transfer, free and clear of any liens or encumbrances.owed