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

Payment and Redelivery of Option or Shares. In the event NetIQ ------------------------------------------ exercises its rights under Section 6(a), the MCS will, within five (5) business days after NetIQ delivers notice pursuant to Section 6(a), pay the required amount to NetIQ in immediately available funds and NetIQ will surrender to the MCS the Option and the certificates evidencing the MCS Shares purchased by NetIQ pursuant thereto.

Appears in 2 contracts

Samples: Stock Option Agreement (Mission Critical Software Inc), Stock Option Agreement (Netiq Corp)

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Payment and Redelivery of Option or Shares. In the event NetIQ MCS ------------------------------------------ exercises its rights under Section 6(a), the MCS NetIQ will, within five (5) business days after NetIQ MCS delivers notice pursuant to Section 6(a), pay the required amount to NetIQ MCS in immediately available funds and NetIQ MCS will surrender to the MCS NetIQ the Option and the certificates evidencing the MCS NetIQ Shares purchased by NetIQ MCS pursuant thereto.

Appears in 2 contracts

Samples: Stock Option Agreement (Netiq Corp), Stock Option Agreement (Mission Critical Software Inc)

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