Common use of Payment of Indemnification Obligation Clause in Contracts

Payment of Indemnification Obligation. In the event that the Physician has an indemnification obligation to Vision 21 hereunder, subject to Vision 21's approval as set forth below, the Physician may satisfy such obligation by transferring to Vision 21 such number of shares of Vision 21 Common Stock owned by the Physician having an aggregate fair market value (which is the fair market value at such time based on the last reported sale price of Vision 21 Common Stock on a principal national securities exchange or other exchange on which the Vision 21 Common Stock is then listed or the last quoted ask price on any over-the-counter market through which the Vision 21 Common Stock is then quoted on the last trading day immediately preceding the day on which the Physician transfers shares of Vision 21 Common Stock to Vision 21 hereunder) equal to the indemnification obligation, provided that each of the following conditions are satisfied:

Payment of Indemnification Obligation. In the event that the Physician Shareholder has an indemnification obligation to Vision 21 hereunder, subject to Vision 21's approval as set forth below, the Physician Shareholder may satisfy such obligation by transferring to Vision 21 such number of shares of Vision 21 Common Stock owned by the Physician Shareholder having an aggregate fair market value (which is the fair market value at such time based on the last reported sale price of Vision 21 Common Stock on a principal national securities exchange or other exchange on which the Vision 21 Common Stock is then listed or the last quoted ask price on any over-the-counter market through which the Vision 21 Common Stock is then quoted on the last trading day immediately preceding the day on which the Physician Shareholder transfers shares of Vision 21 Common Stock to Vision 21 hereunder) equal to the indemnification obligation, provided that each of the following conditions are satisfied: