Common use of Repurchase Notice Clause in Contracts

Repurchase Notice. Each "REPURCHASE NOTICE" delivered hereunder shall set forth the amount, type, and class of Executive Securities (including, if applicable, the amount of Un-Time-Vested Securities and/or Time-Vested Securities) to be acquired from each such holder and the aggregate consideration to be paid for such Executive Securities. The Executive Securities to be repurchased pursuant to any Repurchase Notice shall first be satisfied to the extent possible from the Executive Securities held by Executive at the time of delivery of such Repurchase Notice. If the amount of Executive Securities then held by Executive is less than the total amount of Executive Securities that have been elected to be purchased pursuant to such Repurchase Notice, the electing party or parties shall purchase the remaining securities elected to be purchased from the other holder(s) of Executive Securities, pro rata according to the amount of Executive Securities held of record by each such other holder at the time of delivery of such Repurchase Notice. The amount of Un-Time-Vested Securities and Time-Vested Securities repurchased hereunder shall be deemed to be allocated among Executive and the other holders of repurchased Executive Securities (if any) pro rata according to the amount of Executive Securities to be purchased from such persons.

Appears in 4 contracts

Samples: Executive Securities Agreement (Comple Tel LLC), Executive Securities Agreement (Comple Tel LLC), Executive Securities Agreement (Comple Tel LLC)

AutoNDA by SimpleDocs

Repurchase Notice. Each "REPURCHASE NOTICERepurchase Notice" delivered hereunder ----------------- ----------------- shall set forth the amount, type, and class of Executive Securities (including, if applicable, the amount of Un-Time-Vested Securities and/or Time-Vested Securities) to be acquired from each such holder and the aggregate consideration to be paid for such Executive Securities, and the time and place for closing of the repurchase (which date shall not be more than 60 days nor less than 10 days after the delivery of such Repurchase Notice). The Executive Securities to be repurchased pursuant to any Repurchase Notice shall first be satisfied to the extent possible from the Executive Securities held by Executive at the time of delivery of such Repurchase Notice. If the amount of Executive Securities then held by Executive is less than the total amount of Executive Securities that have been elected to be purchased pursuant to such Repurchase Notice, the electing party or parties shall purchase the remaining securities elected to be purchased from the other holder(s) of Executive Securities, pro rata according to the amount of Executive Securities held of record by each such other holder at the time of delivery of such Repurchase Notice. The amount of Un-Time-Vested Securities and Time-Vested Securities repurchased hereunder shall be deemed to be allocated among Executive and the other holders of repurchased Executive Securities (if any) pro rata according to the amount of Executive Securities to be purchased from such persons.

Appears in 1 contract

Samples: Executive Securities Agreement (Comple Tel LLC)

Repurchase Notice. Each "REPURCHASE NOTICERepurchase Notice" delivered hereunder ----------------- ----------------- shall set forth the amount, type, and class of Executive Securities (including, if applicable, the amount of Un-Time-Vested Securities and/or Time-Vested Securities) to be acquired from each such holder and the aggregate consideration to be paid for such Executive Securities, and the time and place for closing of the repurchase (which date shall not be more than 60 days nor less than 10 days after the delivery of such Repurchase Notice). The Executive Securities to be repurchased pursuant to any Repurchase Xxxxxxxxxx Notice shall first be satisfied to the extent possible from the Executive Securities held by Executive at the time of delivery of such Repurchase Notice. If the amount of Executive Securities then held by Executive is less than the total amount of Executive Securities that have been elected to be purchased pursuant to such Repurchase Notice, the electing party or parties shall purchase the remaining securities elected to be purchased from the other holder(s) of Executive Securities, pro rata according to the amount of Executive Securities held of record by each such other holder at the time of delivery of such Repurchase Notice. The amount of Un-Time-Vested Securities and Time-Vested Securities repurchased hereunder shall be deemed to be allocated among Executive and the other holders of repurchased Executive Securities (if any) pro rata according to the amount of Executive Securities to be purchased from such persons.

Appears in 1 contract

Samples: Executive Securities Agreement (Comple Tel LLC)

AutoNDA by SimpleDocs

Repurchase Notice. Each "REPURCHASE NOTICE" delivered hereunder shall set forth the amount, type, and class of Executive Securities (including, if applicable, the amount of Un-Time-Vested Securities and/or Time-Vested Securities) to be acquired from each such holder and the aggregate consideration to be paid for such Executive Securities, and the time and place for closing of the repurchase (which date shall not be more than 60 days nor less than 10 days after the delivery of such Repurchase Notice). The Executive Securities to be repurchased pursuant to any Repurchase Notice shall first be satisfied to the extent possible from the Executive Securities held by Executive at the time of delivery of such Repurchase Notice. If the amount of Executive Securities then held by Executive is less than the total amount of Executive Securities that have been elected to be purchased pursuant to such Repurchase Notice, the electing party or parties shall purchase the remaining securities elected to be purchased from the other holder(s) of Executive Securities, pro rata according to the amount of Executive Securities held of record by each such other holder at the time of delivery of such Repurchase Notice. The amount of Un-Time-Vested Securities and Time-Vested Securities repurchased hereunder shall be deemed to be allocated among Executive and the other holders of repurchased Executive Securities (if any) pro rata according to the amount of Executive Securities to be purchased from such persons.

Appears in 1 contract

Samples: Executive Securities Agreement (Comple Tel LLC)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!