Common use of Company's Option Clause in Contracts

Company's Option. The Company has an option for a period of ten (10) days from receipt of the Transfer Notice to elect to purchase the Offered Shares at the same price and subject to the same material terms and conditions as described in the Transfer Notice. The Company may exercise this purchase option and purchase all (or a portion of) the Offered Shares by notifying Participant in writing before expiration of the ten (10) day period as to the number of shares it wishes to purchase. If the Company gives Participant notice that it desires to purchase the shares, then payment of the Offered Shares will be by check or wire transfer, against delivery of the Offered Shares to be purchased at a place agreed upon between the parties and at the time of the scheduled closing therefor, which will be no later than forty-five (45) days after the Company's receipt of the Transfer Notice, unless the Transfer Notice contemplated a later closing with the prospective third party transferee(s) or unless the value of the purchase price has not yet been established. If the Company fails to purchase all of the Offered Shares by exercising the option granted in this Section within the period provided, the Offered Shares will be subject to the options granted to the other stockholders.

Company's Option. The Company has shall have an option for a period ---------------- of ten fifteen (1015) business days from receipt of the Transfer Notice to elect to purchase the Offered Shares at the same price and subject to the same material terms and conditions as described in the Transfer Notice. The Company may exercise this such purchase option and and, thereby, purchase all (or a portion ofbut not less than all) of the Offered Shares by notifying Participant the Subscriber in writing before expiration of the ten such fifteen (1015) business day period as to the number of shares such Offered Shares which it wishes to purchase. If the Company gives Participant Subscriber notice that it desires to purchase the sharessuch Offered Shares, then payment of for the Offered Shares will shall be by check or wire transfer, against delivery of the Offered Shares to be purchased at a place agreed upon between the parties and at the time of the scheduled closing therefor, which will shall be no later than forty-five (45) days after the Company's receipt of the Transfer Notice, unless the Transfer Notice contemplated a later closing with the prospective third party transferee(s) or unless the value of the purchase price has not yet been established. If the Company fails established pursuant to purchase all of the Offered Shares by exercising the option granted in this Section within the period provided, the Offered Shares will be subject to the options granted to the other stockholders7.2(c).