Election by the Company Sample Clauses
Election by the Company. Within 20 days after receipt of the ----------------------- Notice, the Company (or its designee) may elect to purchase all of the Offered Shares at the price and on the terms and conditions set forth in the Notice by delivery of written notice of such election to Purchaser, specifying a day, which shall not be more than 20 days after such notice is delivered, on or before which Purchaser shall surrender (if Purchaser has not already done so) the certificate or certificates representing the Offered Shares (duly endorsed in blank for transfer) at the principal office of the Company. Within 20 days after delivery of such notice to Purchaser, the Company shall deliver to Purchaser a check, payable to Purchaser or to such person as Purchaser shall request, in the amount equal to the product of the Proposed Purchase Price multiplied by the number of Offered Shares (the "First Refusal Price") in exchange for the Offered Shares. If Purchaser fails to so surrender such certificate or certificates on or before such date, from and after such date the Offered Shares shall be deemed to be no longer outstanding, and Purchaser shall cease to be a stockholder with respect to such Shares and shall have no rights with respect thereto except only the right to receive payment of the First Refusal Price, without interest, upon surrender of the certificate or certificates therefor duly endorsed in blank for Transfer. If the Company does not elect to purchase all of the Offered Shares, Purchaser shall be entitled to Transfer the Offered Shares, subject to Sections 5(d) and 7(a) of this Agreement, to the transferee(s) named in the Notice at the Proposed Purchase Price or at a higher price and on the terms and conditions set forth in the Notice; provided, however, that such Transfer must be consummated within 90 days after the date of the Notice and any proposed Transfer after such 90-day period may be made only by again complying with the procedures set forth in this Section 3.
Election by the Company. The Company may terminate Executive's employment upon not less than ninety (90) days written notice by the Company to Executive. With the exception of the covenants included in Section 12 below, upon such termination the obligations of Executive and the Company under this Agreement shall immediately cease.
Election by the Company. The Company may terminate Employee’s employment upon not less than thirty (30) days written notice by the Company to Employee. Upon such termination the obligations of Employee and the Company under this Agreement shall immediately cease. The Company is not bound for and the employee is not entitled to severance of more than 6 months salary.
Election by the Company. Notwithstanding the foregoing sections, Citizens has the right (the "Company Cash Option") on and after the Distribution Declaration Date but before the Cash Interest Payment Date (as such term is defined in the Indenture) to cause all Holders of Partnership Preferred Securities to receive payment of Distributions in the form of cash by paying interest on the Convertible Debentures in cash. The Company may exercise the Company Cash Option if the Company shall have provided written notice to the Trust and the holders of the Trust Securities (a "Cash Payment Notice").
Election by the Company. Within twenty (20) days after ----------------------- receipt of the Notice, the Company may elect to purchase any or all of the Offered Shares at the price and on the terms and conditions set forth in the Notice by delivery of written notice of such election to Optionee, specifying a day, which shall not be more than twenty (20) days after such notice is delivered, on or before which Optionee shall surrender (if Optionee has not already done so) the certificate or certificates representing the Offered Shares (duly endorsed in blank for transfer) at the administrative office of the Company. Within twenty (20) days after delivery of such notice to Optionee, the Company shall deliver to Optionee a check, payable to Optionee or to such person as Optionee shall request, in the amount equal to the product of the Proposed Purchase Price multiplied by the number of Offered Shares (the "First Refusal Price") in exchange for the Offered Shares. If Optionee fails to so surrender such certificate or certificates on or before such date, from and after such date the Offered Shares shall be deemed to be no longer outstanding, and Optionee shall cease to be a Shareholder with respect to such Shares and shall have no rights with respect thereto except only the right to receive payment of the First Refusal
Election by the Company. Notwithstanding anything herein to the contrary and subject to the provisions of this Section 4, at any time and from time to time on or before the Maturity Date, the Company may redeem all or any part of the then outstanding principal amount of the Note at 100% of the face amount hereof in newly issued shares of Common Stock having a per share value equal to the Redemption Price (as defined below), by delivering a notice to the Holders in the form attached hereto as Annex A (a “Notice of Redemption”). The Notice of Redemption shall specify the principal amount of this Note to be redeemed and the date on which such redemption is to be effected, which shall not be less than five Trading Days after the date such Notice of Redemption is given (a “Redemption Date”). To effect redemptions hereunder, the Holder shall not be required to physically surrender a Note to the Company unless the entire principal amount of such Note has been so redeemed. Redemptions hereunder shall have the effect of lowering the outstanding principal amount of this Note in an amount equal to the applicable redemption. The Company shall maintain records showing the principal amount redeemed and the date of such redemptions, which records shall be controlling and determinative in the absence of manifest error. The Holder and any assignee, by acceptance of this Note, acknowledge and agree that, by reason of the provisions of this paragraph, following redemption of a portion of this Note, the unpaid and unredeemed principal amount of this Note may be less than the amount stated on the face hereof.
Election by the Company. Within twenty (20) days after receipt ----------------------- of the Notice, the Company may elect to purchase any or all of the Offered Shares at the price and on the terms and conditions set forth in the Notice by delivery of written notice of such election to Executive, specifying a day, which shall not be more than twenty (20) days after such notice is delivered, on or before which Executive shall surrender (if Executive has not already done so) the certificate or certificates representing the Offered Shares (duly endorsed in blank for transfer) at the administrative office of the Company. Within twenty (20) days after delivery of such notice to Executive, the Company shall deliver to Executive a check, payable to Executive or to such person as Executive shall request, in the amount equal to the product of the Proposed Purchase Price multiplied by the number of Offered Shares (the "First Refusal Price") in exchange for the Offered Shares. If Executive fails to so surrender such certificate or certificates on or before such date, from and after such date the Offered Shares shall be deemed to be no longer outstanding, and Executive shall cease to be a Shareholder with respect to such Shares and shall have no rights with respect thereto except only the right to receive payment of the First Refusal Price, without interest, upon surrender of the certificate or certificates therefor (duly endorsed in blank for Transfer). The Company may assign its right to purchase the Offered Shares to any shareholder holding 3% or more of the Common Stock. This right of first refusal terminates upon an Initial Public Offering.
Election by the Company. The right of first refusal contained in this Section 4 shall --------- terminate upon the closing of an Initial Public Offering.
Election by the Company. (a) At the Company's option after receipt of Brunswick's written notice pursuant to Section 2 above, in lieu of issuing the Option Shares pursuant to Section 2 above, it may pay Brunswick, in cash, the Market Spread Amount. The "Market Spread Amount" shall be the amount by which the average of the high and low sales prices of the shares of Common Stock, determined by reference to the price listed on NASDAQ (or such other listing organization upon which the common stock is traded) on the most recent trading day prior to the date Brunswick exercises its option, exceeds the per share purchase price then in effect. If the Company elects to pay the Market Spread Amount, it shall make such payment by wire transfer of immediately available funds to an account designated by Brunswick, such payment to be made no later than three days after Brunswick's delivery of its exercise notice.
(b) At any time that, and provided that, the current per share market price of the Company's common stock equals or exceeds $14.50 (subject to adjustment pursuant to Section 5 below), the Company may, at its election and without Brunswick electing to exercise its Option pursuant to Section 2 above, upon written notice to Brunswick, either (i) issue to Brunswick the Option Shares in accordance with this Agreement and require payment therefor from Brunswick in accordance with this Agreement, or (ii) pay to Brunswick the applicable Market Spread Amount without any further obligation to issue the Option Shares.