Common use of CLOSING OF EACH REPURCHASE Clause in Contracts

CLOSING OF EACH REPURCHASE. Within 10 days after the Repurchase Price for the Executive Securities to be repurchased at any repurchase hereunder has been determined, the Company shall send a notice to each holder of Executive Securities setting forth the consideration to be paid for such securities and the time and place for the closing of the transaction, which date shall not be more than 30 days nor less than five days after the delivery of such notice. At each such closing, the holders of Executive Securities shall deliver all certificates (if any exist) evidencing the Executive Securities to be repurchased at such closing to the purchaser or purchasers thereof, and such purchaser or purchasers shall pay for the Executive Securities to be purchased at such closing by delivery of a check or wire transfer of immediately available funds in the aggregate amount of the Repurchase Price for such Executive Securities; PROVIDED that if the Company is to purchase any Executive Securities from Executive at such closing, the Company may elect (by action of the Board) to pay all or any portion of the Repurchase Price for such Executive Securities by setting off against such Repurchase Price any bona fide debts owed (regardless of whether then due and payable) by Executive to the Company or any of its Subsidiaries; AND PROVIDED FURTHER that if the Company is to purchase any Executive Securities at such closing, the Company may elect (by action of the Board) to pay all or any portion of the Repurchase Price for such Executive Securities as follows:

CLOSING OF EACH REPURCHASE. Within 10 days after the Repurchase Price for the The closing of any repurchase of -------------------------- Executive Securities hereunder shall occur at the date and time specified in the applicable Repurchase Notice with respect to be repurchased at any repurchase hereunder has been determined, the Company shall send a notice to each holder of Executive Securities setting forth the consideration to be paid for such securities and the time and place for the closing of the transaction, which date shall not be more than 30 days nor less than five days after the delivery of such noticerepurchase. At each such closing, the holders of Executive Securities shall deliver all certificates (if any exist) evidencing the Executive Securities to be repurchased at such closing to the purchaser or purchasers thereof, and such purchaser or purchasers shall pay for the Executive Securities to be purchased at such closing by delivery of a check or wire transfer of immediately available funds in the aggregate amount of the Repurchase Price for such Executive Securities; PROVIDED provided that if the -------- Company is to purchase any Executive Securities from Executive at such closing, the Company may elect (by action of the Board) to pay all or any portion of the Repurchase Price for such Executive Securities by setting off against such Repurchase Price any bona fide debts owed (regardless of whether then due and payable) by Executive to the Company or any of its Subsidiaries; AND PROVIDED FURTHER and provided ------------ further that if the Company is to purchase any Executive Securities at such ------- closing, the Company may elect (by action of the Board) to pay all or any portion of the Repurchase Price for such Executive Securities as follows:

CLOSING OF EACH REPURCHASE. Within 10 days after the Repurchase Price for the Executive Securities to be repurchased at The closing of any repurchase hereunder has been determined, the Company shall send a notice to each holder of Executive Securities setting forth hereunder shall occur at the consideration date and time specified in the applicable Repurchase Notice with respect to be paid for such securities and the time and place for the closing of the transaction, which date shall not be more than 30 days nor less than five days after the delivery of such noticerepurchase. At each such closing, the holders of Executive Securities shall deliver all certificates (if any exist) evidencing the Executive Securities to be repurchased at such closing to the purchaser or purchasers thereof, and such purchaser or purchasers shall pay for the Executive Securities to be purchased at such closing by delivery of a check or wire transfer of immediately available funds in the aggregate amount of the Repurchase Price for such Executive Securities; PROVIDED that if the Company is to purchase any Executive Securities from Executive at such closing, the Company may elect (by action of the Board) to pay all or any portion of the Repurchase Price for such Executive Securities by setting off against such Repurchase Price any bona fide debts owed (regardless of whether then due and payable) by Executive to the Company or any of its Subsidiaries; AND PROVIDED FURTHER that if the Company is to purchase any Executive Securities at such closing, the Company may elect (by action of the Board) to pay all or any portion of the Repurchase Price for such Executive Securities as follows: