Purchase of Practice Sample Clauses

Purchase of Practice. At any time during the term of this Agreement, Manager may purchase the Practice. At Manager's option, such purchase may be of substantially all of the assets of Practice or of a majority or more of the issued and outstanding ownership interests of Practice. The purchase price shall be determined by Professional Business Brokers, a professional appraisal company.

Purchase of Practice. Employer hereby grants to Employee the right to purchase percent ( %) of ownership interest in the Practice upon the following terms. Such right shall not commence until after expiration of the Probationary Period set forth in Section 1, hereof, and shall automatically expire upon the earlier of (1) expiration or termination of this Agreement, or (2) , 20 . Employee may exercise this right through providing written notice to Employer of Employee’s election to do so. The parties agree that the purchase price shall be based on the most recent financial statements for the practice, that the manner of payment shall be agreed upon by the parties in good faith which, at a minimum, shall include an initial lump sum payment of percent ( %) of the total purchase price, and that the closing shall occur within 60 days of the date of Employee’s notice to Employer.