Common use of Corporation's Right to Purchase Shares Clause in Contracts

Corporation's Right to Purchase Shares. If there are remaining Marital Shares which are not purchased pursuant to subsection 5.B., above, Corporation shall have the right and option, exercisable by written notice to the ex-spouse or the personal representative of the Estate of the Deceased Spouse at any time within thirty (30) days after the expiration of the period for the exercise by Employee of his option under subsection 5.B., above, to purchase any or all of such unaccepted remaining Marital Shares at the Stipulated Value per share thereof as determined pursuant to Section 6, below, and upon the terms set forth in Section 7, below, and if Corporation exercises such option, the owner or owners of such remaining Marital Shares shall sell such remaining Marital Shares which Corporation has elected to purchase to Corporation at the price and upon the terms set forth above.