Common use of Extension of Put and Call Periods Clause in Contracts

Extension of Put and Call Periods. The period during which the Company (or its designee) shall have the right or obligation to purchase shares of Company Stock pursuant to the exercise of any "put" rights pursuant to Section 7.1 (a "Put Right") or pursuant to the exercise of any right to purchase shares of Company Stock pursuant Section 7.1 hereof (a "Call Right"), shall be extended in the event the Board in good faith determines that any Violation or Financing Default exists or would result as a result of any purchase of Company Stock pursuant to this Article VII until 90 days (in the event of the exercise of any Put Rights), or 120 days (in the event of the exercise of any Call Rights), as the case may be, after the Board determines that such is no longer the case; provided that, in order to exercise such rights, (i) the Employee Shareholder (or the personal representatives of such deceased Employee Shareholder, as the case may be) exercising any Put Rights must have given notice of its intention to exercise its Put Rights within 90 days from the date the Employee Shareholder's termination of employment, and (ii) the Company (or its designee) must have given notice of its intention to exercise its Call Rights within 120 days from the date of the Employee Shareholder's termination of employment.

Extension of Put and Call Periods. The period during which the --------------------------------- Company (or its designee) shall have the right or obligation to purchase shares of Company Stock pursuant to the exercise of any "put" rights pursuant to Section 7.1 (a "Put Right") or pursuant to the exercise of any right to purchase shares of Company Stock pursuant Section 7.1 hereof (a "Call Right"), shall shall, except with respect to the Call Right contemplated by Section 7.1, be extended in the event the Board in good faith determines that any Violation or Financing Default exists or would result as a result of any purchase of Company Stock pursuant to this Article VII until 90 days (in the event of the exercise of any Put Rights), or 120 days (in the event of the exercise of any Call Rights), as the case may be, after the Board determines that such is no longer the case; provided that, in order to exercise such rights, (i) the Employee Shareholder Management -------- Stock holder (or the personal representatives of such deceased Employee ShareholderManagement Stockholder, as the case may be) exercising any Put Rights must have given notice of its intention to exercise its Put Rights within 90 days from the date the Employee ShareholderManagement Stockholder's termination of employment, and (ii) the Company (or its designee) must have given notice of its intention to exercise its Call Rights within 120 days from the date of the Employee ShareholderManagement Stockholder's termination of employment.

Extension of Put and Call Periods. The period during which the Company (or its designee) shall have the right or obligation to purchase shares of Company Stock pursuant to the exercise of any "“put" ” rights pursuant to Section 7.1 (a "“Put Right"”) or pursuant to the exercise of any right to purchase shares of Company Stock pursuant Section 7.1 hereof (a "“Call Right"”), shall shall, except with respect to the Call Right contemplated by Section 7.1, be extended in the event the Board in good faith determines that any Violation or Financing Default exists or would result as a result of any purchase of Company Stock pursuant to this Article VII until 90 days (in the event of the exercise of any Put Rights), or 120 days (in the event of the exercise of any Call Rights), as the case may be, after the Board determines that such is no longer the case; provided that, in order to exercise such rights, (i) the Employee Shareholder Management Stockholder (or the personal representatives of such deceased Employee ShareholderManagement Stockholder, as the case may be) exercising any Put Rights must have given notice of its intention to exercise its Put Rights within 90 days from the date the Employee Shareholder's Management Stockholder’s termination of employment, and (ii) the Company (or its designee) must have given notice of its intention to exercise its Call Rights within 120 days from the date of the Employee Shareholder's Management Stockholder’s termination of employment.

Extension of Put and Call Periods. The period during which the Company (or its designee) shall have the right or obligation to purchase shares of Company Stock pursuant to the exercise of any "put" rights pursuant to Section 7.1 (a "Put Right") or pursuant to the exercise of any right to purchase shares of Company Stock pursuant Section 7.1 hereof (a "Call Right"), shall shall, except with respect to the Call Right contemplated by Section 7.1, be extended in the event the Board in good faith determines that any Violation or Financing Default exists or would result as a result of any purchase of Company Stock pursuant to this Article VII until 90 days (in the event of the exercise of any Put Rights), or 120 days (in the event of the exercise of any Call Rights), as the case may be, after the Board determines that such is no longer the case; provided that, in order to exercise such rights, (i) the Employee Shareholder (or the personal representatives of such deceased Employee Shareholder, as the -45- case may be) exercising any Put Rights must have given notice of its intention to exercise its Put Rights within 90 days from the date the Employee Shareholder's termination of employment, and (ii) the Company (or its designee) must have given notice of its intention to exercise its Call Rights within 120 days from the date of the Employee Shareholder's termination of employment.