Common use of Company’s Right to Repurchase Clause in Contracts

Company’s Right to Repurchase. During the Post Service Period, the Company shall have the right, but not the obligation, to purchase from Holder all or any portion of the Award Shares which have not been forfeited pursuant to Sections 2.1 or 2.2. The purchase price shall be the product of (1) a price per Award Share (the “Repurchase Price Per Share”), multiplied by (2) the number of Vested Award Shares the Company is repurchasing. If the Company elects to exercise its right to repurchase pursuant to this Section 2.5, it shall do so by giving written notice thereof to Holder, which notice shall specify the number of Award Shares held by Holder as to which the Company is exercising its repurchase right. The repurchase by the Company and the sale by Holder of such Award Shares shall be consummated not later than thirty (30) days following the date the Company gives written notice of its exercise of such repurchase right. Payment of the purchase price by the Company shall be in cash or by the Company’s check against delivery of the Award Shares being repurchased. The Repurchase Price Per Share shall equal the fair market value of a share of Common Stock (on a fully diluted basis) as of the last day of the most recent fiscal quarter for which financial information is available, as determined by the Board of the Company. In making such determination, the Board may take into account factors that it, in good faith, deems relevant to such valuation, including the absence of a trading market, the minority status of the Award Shares, and such other facts and circumstances deemed material to the value of the Award Shares in the hands of Recipient.

Appears in 3 contracts

Samples: Restricted Stock Award Agreement (NexPoint Hospitality Trust, Inc.), Nexpoint Multifamily Realty Trust, Inc., Carter Validus Mission Critical REIT II, Inc.

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Company’s Right to Repurchase. During the Post Service Period, the Company shall have the right, but not the obligation, to purchase from Holder all or any portion of the Award Shares which have not been forfeited pursuant to Sections 2.1 or 2.2Section 1.2. The purchase price shall be the product of (1) a price per Award Share (the “Repurchase Price Per Share”), multiplied by (2) the number of Vested Award Shares the Company is repurchasing. If the Company elects to exercise its right to repurchase pursuant to this Section 2.52.3, it shall do so by giving written notice thereof to Holder, which notice shall specify the number of Award Shares held by Holder as to which the Company is exercising its repurchase right. The repurchase by the Company and the sale by Holder of such Award Shares shall be consummated not later than thirty (30) days following the date the Company gives written notice of its exercise of such repurchase right. Payment of the purchase price by the Company shall be in cash or by the Company’s check against delivery of the Award Shares being repurchased. The Repurchase Price Per Share shall equal the fair market value Fair Market Value of a share of Common Stock (on a fully diluted basis) as of the last day of the most recent fiscal quarter for which financial information is available, as determined by the Board of the Company. In making such determination, the Board may take into account factors that it, in good faith, deems relevant to such valuation, including the absence of a trading market, the minority status of the Award Shares, and such other facts and circumstances deemed material to the value of the Award Shares in the hands of Recipient.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Sila Realty Trust, Inc.), Restricted Stock Award Agreement (Sila Realty Trust, Inc.)

Company’s Right to Repurchase. During the Post Service Period, the Company shall have the right, but not the obligation, to purchase from Holder all or any portion of the Award Shares which have not been forfeited pursuant to Sections 2.1 or 2.2. The purchase price shall be the product of (1) a price per Award Share (the “Repurchase Price Per Share”), multiplied by (2) the number of Vested Award Shares the Company is repurchasing. If the Company elects to exercise its right to repurchase pursuant to this Section 2.5, it shall do so by giving written notice thereof to Holder, which notice shall specify the number of Award Shares held by Holder as to which the Company is exercising its repurchase right. The repurchase by the Company and the sale by Holder of such Award Shares shall be consummated not later than thirty (30) days following the date the Company gives written notice of its exercise of such repurchase right. Payment of the purchase price by the Company shall be in cash or by the Company’s check against delivery of the Award Shares being repurchased. The Repurchase Price Per Share shall equal the fair market value Fair Market Value of a share of Common Stock (on a fully diluted basis) as of the last day of the most recent fiscal quarter for which financial information is available, as determined by the Board of the Company. In making such determination, the Board may take into account factors that it, in good faith, deems relevant to such valuation, including the absence of a trading market, the minority status of the Award Shares, and such other facts and circumstances deemed material to the value of the Award Shares in the hands of Recipient.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Carter Validus Mission Critical REIT II, Inc.)

Company’s Right to Repurchase. During the Post Service Period, the Company shall have the right, but not the obligation, to purchase from Holder all or any portion of the Award Shares which have not been forfeited pursuant to Sections 2.1 or 2.2. The purchase price shall be the product of (1) a price per Award Share (the “Repurchase Price Per Share”), multiplied by (2) the number of Vested Award Shares the Company is repurchasing. If the Company elects to exercise its right to repurchase pursuant to this Section 2.5, it shall do so by giving written notice thereof to Holder, which notice shall specify the number of Award Shares held by Holder as to which the Company is exercising its repurchase right. The repurchase by the Company and the sale by Holder of such Award Shares shall be consummated not later than thirty (30) days following the date the Company gives written notice of its exercise of such repurchase right. Payment of the purchase price by the Company shall be in cash or by the Company’s 's check against delivery of the Award Shares being repurchased. The Repurchase Price Per Share shall equal the fair market value of a share of Common Stock K Share (on a fully diluted basis) as of the last day of the most recent fiscal quarter for which financial information is available, as determined by the Board of the CompanyBoard. In making such determination, the Board may take into account factors that it, in good faith, deems relevant to such valuation, including the absence of a trading market, the minority status of the Award Shares, and such other facts and circumstances deemed material to the value of the Award Shares in the hands of Recipient.

Appears in 1 contract

Samples: Procaccianti Hotel Reit, Inc.

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Company’s Right to Repurchase. During the Post Service Period, the Company shall have the right, but not the obligation, to purchase from Holder all or any portion of the Award Shares which have not been forfeited pursuant to Sections 2.1 or 2.2. The purchase price shall be the product of (1) a price per Award Share (the “Repurchase Price Per Share”), multiplied by (2) the number of Vested Award Shares the Company is repurchasing. If the Company elects to exercise its right to repurchase pursuant to this Section 2.5, it shall do so by giving written notice thereof to Holder, which notice shall specify the number of Award Shares held by Holder as to which the Company is exercising its repurchase right. The repurchase by the Company and the sale by Holder of such Award Shares shall be consummated not later than thirty (30) days following the date the Company gives written notice of its exercise of such repurchase right. Payment of the purchase price by the Company shall be in cash or by the Company’s 's check against delivery of the Award Shares being repurchased. The Repurchase Price Per Share shall equal the fair market value of a share of Common Stock (on a fully diluted basis) as of the last day of the most recent fiscal quarter for which financial information is available, as determined by the Board of the Company. In making such determination, the Board may take into account factors that it, in good faith, deems relevant to such valuation, including the absence of a trading market, the minority status of the Award Shares, and such other facts and circumstances deemed material to the value of the Award Shares in the hands of Recipient.. Cxxxxx Validus Mission Critical REIT, Inc. Restricted Stock Agreement

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Carter Validus Mission Critical REIT, Inc.)

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