Common use of Payment and Redelivery of Option or Shares Clause in Contracts

Payment and Redelivery of Option or Shares. In the event Parent ------------------------------------------ exercises its rights under Section 6(a) by delivery of a Put Notice, the Company will, within twenty (20) business days after Parent delivers such notice, pay the required amount to Parent in immediately available funds and Parent will surrender to the Company all or such portion of the Option with respect to which the Put Notice relates and the certificates evidencing the Company Shares purchased by Parent pursuant to such Put Notice.

Appears in 1 contract

Samples: Stock Option Agreement (Microchip Technology Inc)

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Payment and Redelivery of Option or Shares. In the event Parent ------------------------------------------ exercises its rights under Section 6(a7(a) by delivery of a Put Notice, the Company will, within twenty (20) five business days after Parent delivers such noticenotice pursuant to Section 7(a), pay the required amount to Parent in immediately available funds and Parent will surrender to the Company all or such portion of the Option with respect to which the Put Notice relates and the certificates evidencing the Company Shares purchased by Parent pursuant to such Put Noticethereto.

Appears in 1 contract

Samples: Stock Option Agreement (Netopia Inc)

Payment and Redelivery of Option or Shares. In the event Parent ------------------------------------------ exercises its rights under Section 6(a7(a) by delivery of a Put Notice, the Company will, within twenty five (205) business days after Parent delivers such notice, pay the required amount to Parent in immediately available funds and Parent will surrender to the Company all or such portion of the Option with respect to which the Put Notice relates and the certificates evidencing the Company Shares purchased by Parent pursuant to such Put Notice.

Appears in 1 contract

Samples: Stock Option Agreement (Infospace Inc)

Payment and Redelivery of Option or Shares. In the event Parent ------------------------------------------ exercises its rights under Section 6(a7(a) by delivery of a Put Notice, the Company will, within twenty (20) five business days after Parent delivers such noticenotice pursuant to Section 7(a), pay the required amount to Parent in immediately available funds and Parent will surrender to the Company all or such portion of the Option with respect to which the Put Notice relates and the certificates evidencing the Company Shares purchased by Parent pursuant to such Put Noticethereto.

Appears in 1 contract

Samples: Stock Option Agreement (Proxim Inc /De/)

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Payment and Redelivery of Option or Shares. In the event Parent ------------------------------------------ exercises its rights under Section 6(a) by delivery of a Put Notice), the Company will, within twenty five (205) business days after Parent delivers such noticea Put Notice pursuant to Section 6(a), pay the required amount to Parent in immediately available funds and Parent will surrender to the Company all or such portion of the Option with respect to which the Put Notice relates and the certificates evidencing the Company Shares purchased by Parent pursuant to such Put Noticethereto and the Option shall be terminated.

Appears in 1 contract

Samples: Stock Option Agreement (Critical Path Inc)

Payment and Redelivery of Option or Shares. In the event Parent ------------------------------------------ exercises its rights under Section 6(a) by delivery of a Put Notice, the Company will, within twenty (20) business days after Parent delivers such notice, pay the required amount to Parent in immediately available funds and Parent will surrender to the Company all or such portion of the Option with respect to which the Put Notice relates and the certificates evidencing the Company Shares purchased by Parent pursuant to such Put Notice.

Appears in 1 contract

Samples: Stock Option Agreement (Telcom Semiconductor Inc)

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