Common use of Company's Option Clause in Contracts

Company's Option. The Company shall have the option, but not the obligation, to purchase all, but not less than all of the Sale Shares on the same terms as specified in the First Refusal Notice. Within 20 days after the date the First Refusal Notice is given, the Company shall give written notice to the transferring Designated Shareholder and the Investors stating its intention to exercise such option, and a date and time for consummation of the purchase not less than 60 days nor more than 90 days after the date the First Refusal Notice was given. Failure by the Company to give such notice within such time period shall be deemed an election by it not to exercise its option.

Company's Option. The Company shall have the option, but not the obligation, to purchase all, but not less than all of the Sale Shares on the same terms as specified in the First Refusal Notice. Within 20 days after the date receipt of the First Refusal Notice is givenNotice, the Company shall give written notice to the transferring Designated Shareholder Stockholder and the remaining Investors stating its intention whether or not it elects to exercise such optionits option to purchase the number of Sale Shares, and a date and time for consummation of the purchase not less than 60 days nor more than 90 days after the date giving of the First Refusal Notice was givenNotice. Failure by the Company to give such notice within such time period shall be deemed an election by it not to exercise its option.

Company's Option. The Company shall have the option, but not the ---------------- obligation, to purchase all, but not less than all all, of the Sale Shares on the same terms as specified in at the First Refusal NoticePrice. Within 20 days after the date the First Refusal Notice is given, the Company shall give written notice to the transferring Designated Selling Shareholder and the Investors other Shareholders stating its intention to exercise such option, and a date and time for consummation of the purchase not less than 60 days nor more than 90 days after the date the First Refusal Notice was given. Failure by the Company to give such notice within such time period shall be deemed an election by it not to exercise its option.