Common use of Option to Sell Clause in Contracts

Option to Sell. Exsorbet irrevocably and unconditionally grants to APS the right, privilege and option to sell to Exsorbet and Exsorbet hereby irrevocably and unconditionally agrees to purchase, the Shares, for the price and on the terms provided herein. This option can be exercised by APS notifying Exsorbet in writing of the intent to exercise the option, in which case Exsorbet will have ten (10) days to complete the purchase as required herein. In the event the parties cannot agree on a time and place for a closing of the purchase, the closing will occur at the offices of APS in Austin, Texas, at 1:00 p.m. Austin time on the tenth day after APS has given notice of exercise to Exsorbet.