Common use of Exercise of Repurchase Right Clause in Contracts

Exercise of Repurchase Right. The Company shall be deemed to have exercised its Right of Repurchase automatically for all Restricted Shares as of the commencement of the Repurchase Period, unless the Company during the Repurchase Period notifies the holder of the Restricted Shares that it will not exercise its Right of Repurchase for some or all of the Restricted Shares. During the Repurchase Period, the Company shall pay to the holder of the Restricted Shares the Purchase Price determined under Subsection (a) above for the Restricted Shares being repurchased. Such payment shall be made by canceling the necessary portion of the Note to the extent it is outstanding. If the Note is no longer outstanding, payment shall be made in cash or cash equivalents. The certificate(s) representing the Restricted Shares being repurchased shall be delivered to the Company properly endorsed for transfer.

Exercise of Repurchase Right. The Company shall be deemed to have exercised its Right of Repurchase automatically for all Restricted Shares as of the commencement of the Repurchase Period, unless the Company during the Repurchase Period notifies the holder of the Restricted Shares pursuant to Section 8 that it will not exercise its Right of Repurchase for some or all of the Restricted Shares. During the Repurchase Period, the The Company shall pay to the holder of the Restricted Shares the Purchase Price purchase price determined under Subsection (a) above for the Restricted Shares being repurchased. Such payment shall be made by canceling the necessary portion of the Note to the extent it is outstanding. If the Note is no longer outstanding, payment Payment shall be made in cash or cash equivalentsequivalents and/or by canceling indebtedness to the Company incurred by the Founder in the purchase of the Restricted Shares. The certificate(s) representing the Restricted Shares being repurchased shall be delivered to the Company properly endorsed for transferCompany.

Exercise of Repurchase Right. The Company shall be deemed to have exercised its Right of Repurchase automatically for all Restricted Shares as of the commencement of the Repurchase Period, unless the Company during the Repurchase Period notifies the holder of the Restricted Shares pursuant to Section 13(c) that it will not exercise its Right of Repurchase for some or all of the Restricted Shares. During the Repurchase Period, the The Company shall pay to the holder of the Restricted Shares the Purchase Price purchase price determined under Subsection (a) above for the Restricted Shares being repurchased. Such payment shall be made by canceling the necessary portion of the Note to the extent it is outstanding. If the Note is no longer outstanding, payment Payment shall be made in cash or cash equivalentsequivalents and/or by canceling indebtedness to the Company incurred by the Optionee in the purchase of the Restricted Shares. The certificate(s) representing the Restricted Shares being repurchased repurchased, if any, shall be delivered to the Company properly endorsed for transferCompany.

Exercise of Repurchase Right. The Company shall be deemed to have exercised its Right of Repurchase automatically for all Restricted Shares as of the commencement of the Repurchase Period, unless the Company during the Repurchase Period notifies the holder of the Restricted Shares pursuant to Section 6 that it will not exercise its Right of Repurchase for some or all of the Restricted Shares. During the Repurchase Period, the The Company shall pay to the holder of the Restricted Shares the Purchase Repurchase Price determined under Subsection (a) above for the Restricted Shares being repurchased. Such payment shall be made by canceling the necessary portion of the Note to the extent it is outstanding. If the Note is no longer outstanding, payment Payment shall be made in cash or cash equivalentsequivalents and/or by canceling indebtedness to the Company incurred by the Purchaser in the purchase of the Restricted Shares. The certificate(s) representing the Restricted Shares being repurchased shall be released from escrow and promptly delivered to the Company properly endorsed for transferCompany.

Exercise of Repurchase Right. The Company shall be deemed to have exercised its Right of Repurchase automatically for all Restricted Shares as of the commencement of the Repurchase Period, unless the Company during the Repurchase Period notifies the holder of the Restricted Shares pursuant to Section 9 that it will not exercise its Right of Repurchase for some or all of the Restricted Shares. During the Repurchase Period, the Company shall pay to the holder of the Restricted Shares the Purchase Price purchase price determined under Subsection (a) above for the Restricted Shares being repurchased. Such payment shall be made by canceling the necessary portion of the Note to the extent it is outstanding. If the Note is no longer outstanding, payment Payment shall be made in cash or cash equivalentsequivalents and/or by canceling indebtedness to the Company incurred by the Purchaser in the purchase of the Restricted Shares. The certificate(s) representing the Restricted Shares being repurchased shall be delivered to the Company properly endorsed for transferCompany.