Common use of Cancellation of Restricted Shares Clause in Contracts

Cancellation of Restricted Shares. If the Company shall make available, at the time and place and in the amount and form provided in this Agreement, the consideration for the Restricted Shares to be repurchased in accordance with the provisions of this Agreement, then from and after such time the person from whom such shares are to be repurchased shall no longer have any rights as a holder of such shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such shares shall be deemed purchased in accordance with the applicable provisions hereof, and the Company shall be deemed the owner and holder of such shares, whether or not the certificates therefor have been delivered as required by this Agreement.

Cancellation of Restricted Shares. If the Company (or its assignees) shall make available, at the time and place and in the amount and form provided in this Agreement, the consideration for the Restricted Shares to be repurchased in accordance with the provisions of this Agreement, then from and after such time time, the person from whom such shares Restricted Shares are to be repurchased shall no longer have any rights as a holder of such shares Restricted Shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such shares , and such Restricted Shares shall be deemed purchased in accordance with the applicable provisions hereof, hereof and the Company (or its assignees) shall be deemed the owner and holder of such sharesRestricted Shares, whether or not the certificates therefor have been delivered as required by this Agreement.