FAILURE TO DELIVER REPURCHASE SHARES. If the Holder fails or refuses to deliver on a timely basis duly endorsed certificates representing the Repurchase Shares to be repurchased by the Company or its assignee pursuant to this Section 17, the Company shall have the right to deposit the repurchase price for such Repurchase Shares in a special account with any bank or trust company in the Commonwealth of Massachusetts, giving notice of such deposit to the Holder, whereupon such Repurchase Shares shall be deemed to have been purchased by the Company. All such moneys shall be held by the bank or trust company for the benefit of the Holder. All moneys deposited with the bank or trust company remaining unclaimed for two years after the date of deposit shall be repaid by the bank or trust company to the Company on demand, and the Holder shall thereafter look only to the Company for payment.
Appears in 16 contracts
Samples: Non Qualified Stock Option Agreement (Breakaway Solutions Inc), Non Qualified Stock Option Agreement (Breakaway Solutions Inc), Incentive Stock Option Agreement (Breakaway Solutions Inc)
