Common use of Release/Surrender Clause in Contracts

Release/Surrender. The Shares, together with any other assets or ----------------- securities held in escrow hereunder, shall be subject to the following terms relating to their release from escrow or their surrender to the Company for repurchase and cancellation: (a) Should the Company elect to exercise the Repurchase Right with respect to any Unvested Shares, then the escrowed certificates for those Unvested Shares (together with any other assets or securities attributable thereto) shall be surrendered to the Company concurrently with the payment to Shareholder of an amount equal to the aggregate Purchase Price for such Unvested Shares, and Shareholder shall cease to have any further rights or claims with respect to such Unvested Shares (or other assets or securities attributable thereto). (b) Should the Company elect not to exercise the Repurchase Right with respect to any Unvested Shares held at the time in escrow hereunder, then the escrowed certificates for those shares (together with any other assets or securities attributable thereto) shall be immediately released to Shareholder.

Appears in 2 contracts

Samples: Repurchase Agreement (Clearcommerce Corp), Repurchase Agreement (Clearcommerce Corp)

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Release/Surrender. The Purchased Shares, together with any other assets or ----------------- securities held in escrow hereunder, shall be subject to the following terms relating to their release from escrow or their surrender to the Company Corporation for repurchase and cancellation: (ai) Should the Company Corporation elect to exercise the Repurchase Right with respect to any Unvested Shares, then the escrowed certificates for those Unvested Shares (together with any other assets or securities attributable thereto) shall be surrendered to the Company Corporation concurrently with the payment to Shareholder Owner of an amount equal to the aggregate Purchase Exercise Price paid for such those Unvested Shares, and Shareholder Owner shall cease to have any further rights or claims with respect to such Unvested Shares (or other assets or securities attributable thereto). (bii) Should the Company Corporation elect not to exercise the Repurchase Right with respect to any Unvested Shares held at the time in escrow hereunder, then the escrowed certificates for those shares (together with any other assets or securities attributable thereto) shall be immediately released to Shareholder.together

Appears in 1 contract

Samples: Stock Purchase Agreement (Act Networks Inc)

Release/Surrender. The Purchased Shares, together with any other assets or ----------------- securities held in escrow hereunder, shall be subject to the following terms relating to their release from escrow or their surrender to the Company Corporation for repurchase and cancellation: (ai) Should the Company Corporation elect to exercise the Repurchase Right with respect to any Unvested Shares, then the escrowed certificates for those Unvested Shares (together with any other assets or securities attributable thereto) shall be surrendered to the Company Corporation concurrently with the payment to Shareholder Owner of an amount equal to the aggregate Purchase Price for such Unvested Shares, and Shareholder Owner shall cease to have any further rights or claims with respect to such Unvested Shares (or other assets or securities attributable thereto). (bii) Should the Company Corporation elect not to exercise the Repurchase Right with respect to any Unvested Shares held at the time in escrow hereunder, then the escrowed certificates for those shares (together with any other assets or securities attributable thereto) shall be immediately released to ShareholderOwner. (iii) As the Purchased Shares (or any other assets or securities attributable thereto) vest in accordance with the Vesting Schedule, the

Appears in 1 contract

Samples: Stock Issuance Agreement (Willis Lease Finance Corp)

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Release/Surrender. The Purchased Shares, together with any other assets or ----------------- securities held in escrow hereunder, shall be subject to the following terms relating to their release from escrow or their surrender to the Company Corporation for repurchase and cancellation: (ai) Should the Company Corporation elect to exercise the Repurchase Right with respect to any Unvested Shares, then the escrowed certificates for those Unvested Shares (together with any other assets or securities attributable thereto) shall be surrendered to the Company Corporation concurrently with the payment to Shareholder Owner of an amount equal to the aggregate Purchase Price paid for such those Unvested Shares, and Shareholder Owner shall cease to have any further rights or claims with respect to such Unvested Shares (or other assets or securities attributable thereto). (bii) Should the Company Corporation elect not to exercise the Repurchase Right with respect to any Unvested Shares held at the time in escrow hereunder, then the escrowed certificates for those shares (together with any other assets or securities attributable thereto) shall be immediately released to Shareholder.together

Appears in 1 contract

Samples: Stock Issuance Agreement (Legacy Software Inc)

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