Exercise of the Repurchase Option Clause Samples

The 'Exercise of the Repurchase Option' clause defines the process and conditions under which a party, typically the original seller, can buy back an asset or property previously sold. This clause outlines the steps required to initiate the repurchase, such as providing written notice within a specified timeframe and adhering to predetermined terms, like the repurchase price or payment method. Its core practical function is to provide a clear mechanism for reclaiming ownership, thereby offering flexibility and certainty to both parties regarding future control of the asset.
Exercise of the Repurchase Option. The Repurchase Option shall be exercised in whole or in part by the Corporation, if at all, by its sending written notice of such exercise to the Employee at the address specified in or pursuant to Section 10 within 90 days after the Employee's termination of employment. Such notice, which shall be sent by registered mail, postage prepaid, shall also set forth the address to which and the date on which the certificates representing the Common Stock in respect of which the Repurchase Option is being exercised, duly endorsed for transfer, should be sent. The date specified shall not be less than ten days nor more than thirty days from the date of such notice. The Employee or his successor in interest with respect to such shares shall have no further rights as a stockholder from and after the date so specified in such notice and agrees that the Common Stock represented by such certificate shall be deemed canceled and returned to the treasury of the Corporation and that the Employee will have no further incidents of ownership, including the right to receive dividends or other distributions. If the certificates are duly delivered in accordance with the written notice, the Corporation shall promptly send to the Employee its check in the amount of the Issue Price for such shares. The Corporation shall affix to the certificates any required stock transfer stamps. If the certificates are not so delivered, the Corporation shall deposit the required amount of payment in an escrow account in the name of the Employee to be held therein until such certificates are delivered to the Corporation and the Corporation shall immediately advise its transfer agent of such action. In addition, if the certificates are not so delivered, the Employee shall repay to the Corporation any dividends or other distributions which may have become payable of record on or after the date on which the Employee was required to deliver the certificates to the Corporation and agrees to reimburse the Corporation all of its expenses (including attorneys' fees) incurred in connection with any steps the Corporation may take to cancel the certificates or to obtain the repayment of such dividends or other distributions, or both.
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Exercise of the Repurchase Option. The Company shall exercise its option to repurchase the Common Stock underlying a grant of Restricted Stock, in whole or part, by sending written notice to the Participant at the address specified by the Participant for such purpose no later than 120 days after the Participant's termination of employment or service. The notice shall set forth all necessary information to instruct the Participant in respect of endorsing and returning to the Company the certificates representing such Common Stock, including the date on which such certificates should be returned. Written notice also may be delivered in person to the Participant, at any location, provided that such delivery occurs no later than 120 days after the Participant's termination of employment or service. The Participant or any successor in interest with respect to such Common Stock shall have no further rights as a stockholder of the Company from and after the date specified in the notice. If certificates duly are delivered in accordance with the written notice, the Company promptly shall send the Participant a check in repayment of the Issue Price. The Company shall affix to such certificates any required stock transfer stamps. If certificates are not so delivered, the Company shall deposit the required amount of payment in an escrow account in the name of the Participant to be held pending delivery of the certificates, and the Company immediately shall advise its transfer agent of such action.
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Exercise of the Repurchase Option. The Company shall exercise the Repurchase Option by giving to the Purchaser, or to the Purchaser's estate or personal representative, and to any Transferees of whom the Company has previously received written notice, written notice of the Company's intention to exercise the Repurchase Option (the "Notice of Repurchase") before the Repurchase Option lapses in accordance with Section 2.5 of this Agreement, and in such Notice agreeing to tender to the Purchaser, or to the Purchaser's estate or personal representative, and to any Transferees, as the case may be, the amount specified in Section 2.3, against delivery of the certificates representing the Shares to be repurchased, duly endorsed, free and clear of any and all liens, charges or encumbrances. In exercising the Repurchase Option, the Company may also designate one or more nominees to purchase some or all of the Shares instead of purchasing all of them itself, provided that the Shares to be purchased by the Company and by such nominees shall in any event constitute all of the Shares that could then be purchased from the Purchaser, or the Purchaser's estate or personal representative, and from any Transferees, as the case may be.
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Exercise of the Repurchase Option. The Manager shall cause --------------------------------- the Company to exercise any or all of the Class B Member Interest Repurchase Option pursuant to Section 4.1 by written notice to the Purchaser, the Purchaser's legal representative, or other holder of the Class B Member Interest and related Units, as the case may be, during the Repurchase Period. The "Repurchase Period" shall be the period commencing as of the date of the Employee's termination of Service and ending on the date forty-five (45) days after the Employee's termination of Service. If the Manager fails to give notice during the Repurchase Period, the Class B Member Interest Repurchase Option shall terminate (unless the Zhone Board and the Employee or the Employee's heirs, administrators, successors or assigns, as applicable, have agreed to extend the time for the exercise of the Class B Member Interest Repurchase Option). Notwithstanding a termination of the Class B Interest Member Repurchase Option, the remaining provisions of this Agreement shall remain in full force and effect.
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Exercise of the Repurchase Option. The Company shall exercise any or all of the Repurchase Option pursuant to Section 4(a) by written notice to the Purchaser, the Purchaser’s legal representative, or other holder of the Stock, as the case may be, during the Repurchase Period. The “Repurchase Period” shall be the period commencing as of the date of the Founder’s termination of Service and ending on the date forty-five (45) days after the Founder’s termination of Service. If the Company fails to give notice during the Repurchase Period, the Repurchase Option shall terminate (unless the Zhone Board and the Founder or the Founders heirs, administrators, successors or assigns, as applicable, have agreed to extend the time for the exercise of the Repurchase Option). Notwithstanding a termination of the Repurchase Option, the remaining provisions of this Agreement shall remain in full force and effect.
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Exercise of the Repurchase Option. The Company shall exercise any or all of the Repurchase Option by written notice to the Executive, the Executive's legal representative, or other holder of the Common Shares, as the case may be, during the Repurchase Period. The "Repurchase Period" shall be the period commencing as of the date of the date of the Executive's termination of Service and ending on the date forty-five (45) days after the Executive's termination of Service. If the Company fails to give notice during the Repurchase Period, the Repurchase Option shall terminate (unless the Zhone Board and the Executive or the Executive's heirs, administrators, successors or assigns, as applicable, have agreed to extend the time for the exercise of the Repurchase Option).
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Related to Exercise of the Repurchase Option

  • Exercise of the Repurchase Right The Repurchase Right shall be exercisable by written notice delivered to each Owner of the Unvested Shares prior to the expiration of the ninety (90)-day exercise period. The notice shall indicate the number of Unvested Shares to be repurchased and the date on which the repurchase is to be effected, such date to be not more than thirty (30) days after the date of such notice. The certificates representing the Unvested Shares to be repurchased shall be delivered to the Corporation on or before the close of business on the date specified for the repurchase. Concurrently with the receipt of such stock certificates, the Corporation shall pay to Owner, in cash or cash equivalent (including the cancellation of any purchase-money indebtedness), an amount equal to the Purchase Price previously paid for the Unvested Shares to be repurchased from Owner.

  • Exercise of Repurchase Option The Repurchase Option shall be exercised by written notice signed by an officer of the Company or by any assignee or assignees of the Company and delivered or mailed as provided in Section 17(a). Such notice shall identify the number of shares of Stock to be purchased and shall notify Purchaser of the time, place and date for settlement of such purchase, which shall be scheduled by the Company within the term of the Repurchase Option set forth in Section 2(a) above. The Company shall be entitled to pay for any shares of Stock purchased pursuant to its Repurchase Option, at the Company's option, in cash or by offset against any indebtedness owing to the Company by Purchaser, or by a combination of both. Upon delivery of such notice and payment of the purchase price in any of the ways described above, the Company shall become the legal and beneficial owner of the Stock being repurchased and all rights and interest therein or related thereto, and the Company shall have the right to transfer to its own name the Stock being repurchased by the Company, without further action by Purchaser.

  • Exercise of Purchase Option The Purchase Option shall be exercised by written notice to the Management Investor (or his or her heirs, executors, administrators, transferees, successors or assigns, as the case may be) executed by the Company or the Designated Purchaser, as the case may be, given at any time not later than the Option Termination Date. Such notice shall set forth the number and type of Management Securities desired to be purchased and shall set forth a time and place of closing which shall be no earlier than 10 days and no later than 60 days after the date such notice is sent. At such closing, the seller shall deliver, or cause to be delivered, the certificates evidencing the number of Management Securities to be purchased by the Company and/or its Designated Purchaser, accompanied by stock powers duly endorsed in blank or duly executed instruments of transfer, and any other documents that are necessary to transfer to the Company and/or its Designated Purchaser, as the case may be, good title to such of the Management Securities to be transferred, free and clear of all pledges, security interests, liens, charges, encumbrances, equities, claims and options of whatever nature, other than those imposed under this Agreement, and concurrently with such delivery, the Company and/or its Designated Purchaser, as the case may be, shall deliver to the seller the full amount of the Option Purchase Price (or the portion thereof to be paid by such party) for such Management Securities in cash by certified or bank cashier’s check.

  • Exercise of the Warrant Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company) of a duly executed facsimile copy of the Notice of Exercise in the form annexed hereto. Within three (3) Trading Days following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the shares specified in the applicable Notice of Exercise by wire transfer or cashier's check drawn on a United States bank unless the cashless exercise procedure specified in Section 2(c) below is specified in the applicable Notice of Exercise. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise form be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise within one (1) Business Day of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof.

  • Exercise of Purchase Options Nothing contained in this Purchase Option shall be construed as requiring the Holder(s) to exercise their Purchase Options or Warrants underlying such Purchase Options prior to or after the initial filing of any registration statement or the effectiveness thereof.