Repurchase of Stock. At the option of the Administrator, the stock to be delivered pursuant to the exercise of any Option granted to an employee, director or consultant under this Plan may be subject to a right of repurchase in favor of the Company with respect to any employee, or director or consultant whose employment, or director or consulting relationship with the Company is terminated. Such right of repurchase shall be exercisable as the Administrator may determine in the grant of option:
(a) at the Option exercise price and (i) shall lapse at the rate of at least 20% per year over five years from the date the Option is granted (without regard to the date it was exercised or becomes exercisable), (ii) must be exercised for cash or cancellation of purchase money indebtedness within 90 days after such Termination (or in the case of securities issued upon exercise of options after the date of Termination, within 90 days after the date of exercise), and (iii) if the right is assignable by the Company, the assignee must pay the Company upon assignment of the right (unless the assignee is a 100% owned subsidiary of the Company or is an Affiliate) cash equal to the difference between the Option exercise price and the value (determined as set forth in Section 6.1.11) of the stock to be purchased if the Option exercise price is less than such value; or
(b) at the higher of the Option exercise price or the value (determined as set forth in Section 6.1.11) of the stock being repurchased on the date of Termination, and must be exercised for cash or cancellation of purchase money indebtedness within 90 days of Termination (or in the case of securities issued upon exercise of options after the date of Termination, within 90 days after the date of exercise), and such right shall terminate when the Company’s securities become publicly traded. In addition to the restrictions set forth in subparagraphs (a) and (b) above, the shares held by an officer, director or consultant of the issuer or by an Affiliate of the issuer may be subject to additional or greater restrictions, in the absolute discretion of the Administrator. Determination of the number of shares subject to any such right of repurchase shall be made as of the date the employee’s employment by, director’s director relationship with, or consultant’s consulting relationship with, the Company terminates, not as of the date that any Option granted to such employee, director or consultant is thereafter exercised.
Repurchase of Stock. Borrower shall not purchase any of its own stock without the prior written consent of Lender, except to the extent any holder of any stock options may choose to pay for shares by tendering shares.
Repurchase of Stock. The Seller hereby agrees to sell to the Company ------------------- and the Company agrees to purchase from the Seller the Repurchased Shares. On the Effective Date of this Agreement, the Company will cancel the Promissory Notes and deliver them to the Seller against delivery to the Company by the Seller of the stock certificate(s) representing the Repurchased Shares and an executed Assignment Separate from Certificate in the form attached hereto as Exhibit A, assigning the Repurchased Shares to the Company. As of the Effective --------- Date, the Company shall be entitled to take all steps necessary to transfer the Repurchased Shares to the Company, including without limitation cancellation of the certificates representing the Repurchased Shares.
Repurchase of Stock. At the Closing (as hereinafter defined), (i) Shareholder shall surrender for repurchase by the Company, and the Company shall repurchase and accept all right, title and interest in and to the Repurchased Shares and (ii) as consideration for such repurchase, the Company shall transfer, assign and deliver to Shareholder, and Shareholder shall accept a wire transfer in the amount of $3,725,000 (the “Purchase Price”).
Repurchase of Stock. Neither Borrower nor any Guarantor shall purchase any of the stock of any of the Guarantors or Borrower in excess of $500,000.00 in the aggregate during the term of the Credit Facility without prior notice to and approval of Lenders.
Repurchase of Stock. Unless the parties agree otherwise, any repurchase of FCB Voting Stock pursuant to this Article IV shall take place at the corporate offices of FCB on the Repurchase Date.
Repurchase of Stock. Beginning on the third day following the closing date for the Company's acquisition of Jupiter Media Metrix, Inc. or the third day following the date of termination for any reason of the Company's proposed acquisition of Jupiter Media Metrix, Inc. (the "Effective Date") and from time to time or at any time or times until the close of business on date ninety-three (93) days following the Effective Date (the "Contract Period"), Stockholder shall have the right to cause the Company to purchase (the "Stockholder Put Right"), and the Company shall purchase, up to a total of Five Hundred Thousand (500,000) shares of the Company's Common Stock (the "Shares") held by Stockholder at the time of exercise of the Stockholder Put Right. The Stockholder Put Right shall be subject to the following requirements:
(i) The Stockholder Put Right may be exercised by Stockholder not more than twice during the Contract Period, and in the case of any exercise may not be exercised for fewer than 100,000 Shares.
(ii) The Stockholder Put Right may be exercised by delivery by Stockholder to the Company, attention of the Chief Financial Officer, of a written notice stating the number of Shares that are included in the Stockholder Put Right. The delivery date of the notice to the Company shall be deemed to be the exercise date of the Stockholder Put Right (the "Exercise Date").
(iii) The purchase price for the Shares payable by the Company upon any exercise of the Stockholder Put Right shall be equal to the average closing sales price for the Company's Common Stock as reported by the Nasdaq Stock Market for the ten (10) trading days preceding and ending on the last trading date preceding the Exercise Date.
(iv) The purchase price for the Shares shall be paid to Stockholder by Federal (same day) or other immediately available funds to the account of Stockholder not later than fifteen (15) days following the Exercise Date.
(v) In connection with any exercise of the Stockholder Put Right, Stockholder agrees that the Company shall have no obligation to provide to Stockholder any information concerning the Company or its affairs. Stockholder shall rely solely on the Company's public filings with the Securities and Exchange Commission.
(vi) As a condition to payment of the purchase price for the Shares, Stockholder shall be obligated to deliver to the Company (i) a stock certificate representing the Shares, duly endorsed for transfer (or appropriate confirmation of transfer if the certificat...
Repurchase of Stock. 30 SECTION 7.21. ADDITIONAL SUBSIDIARIES. . . . . . . . . . . . . . . . . 30
Repurchase of Stock. The Company agrees to repurchase any/all issued stock in the name of the employee during the term of this agreement.
Repurchase of Stock. Subject to the provisions of the General Corporation Law and this Certificate of Incorporation, the Corporation may purchase its own shares and the Directors may determine the manner or any of the terms of, any such purchase. The Corporation may make a payment in respect of the purchase of its own shares in any manner permitted by the General Corporation Law, including out of capital.
