Common use of Purchase Right in Excess Shares Clause in Contracts

Purchase Right in Excess Shares. Excess Shares shall be deemed to have been offered for sale to the Company, or its designee, at a price per Share equal to the lesser of (i) the price per Share in the transaction that created such Excess Shares (or, in the case of devise, gift or Non-Transfer Event, the Applicable Value at the time of such devise, gift or Non- Transfer Event) and (ii) the Applicable Value on the date the Board accepts such offer, provided that such a sale to the Company will cause such Shares to cease to be Excess Shares. The Company shall have the right to accept such offer for a period of ninety (90) days after the later of (A) the date of the Non-Transfer Event or purported Transfer that resulted in such Excess Shares and (B) the date the Company determines in good faith that a Transfer or Non-Transfer Event resulting in Excess Shares has occurred, if the Company does not receive a notice of such Transfer or Non-Transfer Event pursuant to Section 9.5.