Common use of Repurchase of Substitute Option Clause in Contracts

Repurchase of Substitute Option. (a) At the request of a holder of the Substitute Option (a "Substitute Option Holder"), the Substitute Option Issuer shall repurchase the Substitute Option from the Substitute Option Holder at a price (the "Substitute Option Repurchase Price") equal to the amount by which (i) the Highest Closing Price (as defined below) exceeds (ii) the exercise price of the Substitute Option, multiplied by the number of shares of Substitute Common Stock for which the Substitute Option may then be exercised. In addition, at the request of the owner (the "Substitute Share Owner") of shares of Substitute Common Stock, the Substitute Option Issuer shall repurchase the Substitute Common Stock at a price (the "Substitute Share Repurchase Price") equal to the Highest Closing Price multiplied by the number of shares of Substitute Common Stock so designated. The term "

Appears in 4 contracts

Samples: Stock Option Agreement (Old Kent Financial Corp /Mi/), Stock Option Agreement (Chemical Financial Corp), Stock Option Agreement (Shoreline Financial Corp)

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Repurchase of Substitute Option. (a) At the request of a the holder of the Substitute Option (a the "Substitute Option Holder"), the Substitute Option Issuer shall repurchase the Substitute Option from the Substitute Option Holder at a price (the "Substitute Option Repurchase Price") equal to the amount by which (i) the Highest Closing Price (as defined belowhereinafter defined) exceeds (ii) the exercise price of the Substitute Option, multiplied by the number of shares of Substitute Common Stock for which the Substitute Option may then be exercised. In addition, and at the request of the owner (the "Substitute Share Owner") of shares of Substitute Common StockStock (the "Substitute Shares"), the Substitute Option Issuer shall repurchase the Substitute Common Stock Shares at a price (the "Substitute Share Repurchase Price") equal to the Highest Closing Price multiplied by the number of shares of Substitute Common Stock Shares so designated. The term "Highest

Appears in 2 contracts

Samples: Stock Option Agreement (Dime Bancorp Inc), Stock Option Agreement (Hudson United Bancorp)

Repurchase of Substitute Option. (a) At the request of a the holder of the Substitute Option (a the "Substitute Option HolderSUBSTITUTE OPTION HOLDER"), the Substitute Option Issuer shall repurchase the Substitute Option from the Substitute Option Holder at a price (the "Substitute Option Repurchase PriceSUBSTITUTE OPTION REPURCHASE PRICE") equal to the amount by which (i) the Highest Closing Price (as defined below) exceeds (ii) the exercise price of the Substitute Option, multiplied by the number of shares of Substitute Common Stock for which the Substitute Option may then be exercised. In addition, and at the request of the owner (the "Substitute Share OwnerSUBSTITUTE SHARE OWNER") of shares of Substitute Common Stock, the Substitute Option Issuer shall repurchase the Substitute Common Stock at a price (the "Substitute Share Repurchase PriceSUBSTITUTE SHARE REPURCHASE PRICE") equal to the Highest Closing Price multiplied by the number of shares of Substitute Common Stock so designated. The term "of

Appears in 2 contracts

Samples: Stock Option Agreement (First Evergreen Corp), Stock Option Agreement (Old Kent Financial Corp /Mi/)

Repurchase of Substitute Option. (a) At the request of a the holder of the Substitute Option (a the "Substitute Option Holder")) delivered prior to an Exercise Termination Event, the Substitute Option Issuer shall repurchase the Substitute Option from the Substitute Option Holder at a price (the "Substitute Option Repurchase Price") equal to the amount by which (i) the Highest Closing Price (as defined belowhereinafter defined) exceeds (ii) the exercise price of the Substitute Option, multiplied by the number of shares of Substitute Common Stock for which the Substitute Option may then be exercised. In addition, and at the request of the owner (the "Substitute Share Owner") of shares of Substitute Common StockStock (the "Substitute Shares"), the Substitute Option Issuer shall repurchase the Substitute Common Stock Shares at a price (the "Substitute Share Repurchase Price") equal to the Highest Closing Price multiplied by the number of shares of Substitute Common Stock Shares so designated. The term "

Appears in 2 contracts

Samples: Stock Option Agreement (Washington Mutual Inc), Stock Option Agreement (Bank United Corp)

Repurchase of Substitute Option. (a) At the request of a the holder of the Substitute Option (a the "Substitute Option HolderSUBSTITUTE OPTION HOLDER"), the Substitute Option Issuer shall repurchase the Substitute Option from the Substitute Option Holder at a price (the "Substitute Option Repurchase PriceSUBSTITUTE OPTION REPURCHASE PRICE") equal to the amount by which (i) the Highest Closing Price (as defined below) exceeds (ii) the exercise price of the Substitute Option, multiplied by the number of shares of Substitute Common Stock for which the Substitute Option may then be exercised. In addition, and at the request of the owner (the "Substitute Share OwnerSUBSTITUTE SHARE OWNER") of shares of Substitute Common Stock, the Substitute Option Issuer shall repurchase the Substitute Common Stock at a price (the "Substitute Share Repurchase PriceSUBSTITUTE SHARE REPURCHASE PRICE") equal to the Highest Closing Price multiplied by the number of shares of Substitute Common Stock Shares so designated. The term "

Appears in 2 contracts

Samples: 2 Stock Option Agreement (Old Kent Financial Corp /Mi/), Stock Option Agreement (CFSB Bancorp Inc)

Repurchase of Substitute Option. (a) At the request of a the holder of the Substitute Option (a the "Substitute Option Holder")) delivered prior to an Exercise Termination Event, the Substitute Option Issuer shall repurchase the Substitute Option from the Substitute Option Holder at a price (the "Substitute Option Repurchase Price") equal to the amount by which (i) the Highest Closing Price (as defined belowhereinafter defined) exceeds (ii) the exercise price of the Substitute Option, multiplied by the number of shares of Substitute Common Stock for which the Substitute Option may then be exercised. In addition, and at the request of the owner (the "Substitute Share Owner") of shares of Substitute Common StockStock (the "Substitute Shares"), the Substitute Option Issuer shall repurchase the Substitute Common Stock Shares at a price (the "Substitute Share Repurchase Price") equal to the Highest Closing Price multiplied by the number of shares of Substitute Common Stock so designated. The term "Highest

Appears in 2 contracts

Samples: Stock Option Agreement (Long Beach Financial Corp), Stock Option Agreement (Washington Mutual Inc)

Repurchase of Substitute Option. (a) At the request of a the holder of the Substitute Option (a the "Substitute Option Holder"), ) delivered prior to an Exercise Termination Event the Substitute Option Issuer shall repurchase the Substitute Option from the Substitute Option Holder at a price (the "Substitute Option Repurchase Price") equal to the amount by which (i) the Highest Closing Price (as defined belowhereinafter defined) exceeds (ii) the exercise price of the Substitute Option, multiplied by the number of shares of Substitute Common Stock for which the Substitute Option may then be exercised. In addition, and at the request of the owner (the "Substitute Share Owner") of shares of Substitute Common StockStock (the "Substitute Shares"), the Substitute Option Issuer shall repurchase the Substitute Common Stock Shares at a price (the "Substitute Share Repurchase Price") equal to the Highest Closing Price multiplied by the number of shares of Substitute Common Stock Shares so designated. The term "

Appears in 2 contracts

Samples: Stock Option Agreement (Ahmanson H F & Co /De/), Stock Option Agreement (Washington Mutual Inc)

Repurchase of Substitute Option. (a) At the request of a holder of the Substitute Option (a "Substitute Option HolderSUBSTITUTE OPTION HOLDER"), the Substitute Option Issuer shall repurchase the Substitute Option from the Substitute Option Holder at a price (the "Substitute Option Repurchase PriceSUBSTITUTE OPTION REPURCHASE PRICE") equal to the amount by which (i) the Highest Closing Price (as defined below) exceeds (ii) the exercise price of the Substitute Option, multiplied by the number of shares of Substitute Common Stock for which the Substitute Option may then be exercised. In addition, at the request of the owner (the "Substitute Share OwnerSUBSTITUTE SHARE OWNER") of shares of Substitute Common Stock, the Substitute Option Issuer shall repurchase the Substitute Common Stock at a price (the "Substitute Share Repurchase PriceSUBSTITUTE SHARE REPURCHASE PRICE") equal to the Highest Closing Price multiplied by the number of shares of Substitute Common Stock so designated. The term "the

Appears in 1 contract

Samples: 2 Stock Option Agreement (Old Kent Financial Corp /Mi/)

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Repurchase of Substitute Option. (a) At the request of a the holder of the Substitute Option (a the "Substitute Option HolderSUBSTITUTE OPTION HOLDER")) delivered prior to an Exercise Termination Event, the Substitute Option Issuer shall repurchase the Substitute Option from the Substitute Option Holder at a price (the "Substitute Option Repurchase PriceSUBSTITUTE OPTION REPURCHASE PRICE") equal to the amount by which (i) the Highest Closing Price (as defined belowhereinafter defined) exceeds (ii) the exercise price of the Substitute Option, multiplied by the number of shares of Substitute Common Stock for which the Substitute Option may then be exercised. In addition, and at the request of the owner (the "Substitute Share OwnerSUBSTITUTE SHARE OWNER") of shares of Substitute Common StockStock (the "SUBSTITUTE SHARES"), the Substitute Option Issuer shall repurchase the Substitute Common Stock Shares at a price (the "Substitute Share Repurchase PriceSUBSTITUTE SHARE REPURCHASE PRICE") equal to the Highest Closing Price multiplied by the number of shares of Substitute Common Stock Shares so designated. The term "

Appears in 1 contract

Samples: Stock Option Agreement (Cowlitz Bancorporation)

Repurchase of Substitute Option. (a) At the written request of a holder of the Substitute Option (a "Substitute Option Holder")Holder at any time and from time to time, the Substitute Option Issuer shall repurchase the Substitute Option (or such portion of the Substitute Option as the Substitute Option Holder shall designate) from the Substitute Option Holder at a price (the "Substitute Option Repurchase Price") equal to the amount by which (i) the Highest Closing Price (as defined belowhereinafter defined) exceeds (ii) the exercise price of the Substitute Option, multiplied by the number of shares of Substitute Common Stock Shares for which the Substitute Option may then be exercised. In addition, and at the request of the owner (the "Substitute Share Owner") of shares of Substitute Common Stock, the Substitute Option Issuer shall repurchase the Substitute Common Stock Shares at a price (the "Substitute Share Repurchase Price") equal to the Highest Closing Price multiplied by the number of shares of Substitute Common Stock Shares so designated. The term "

Appears in 1 contract

Samples: Stock Option Agreement (Motorola Inc)

Repurchase of Substitute Option. (a) At the request of a the holder of the Substitute Option (a the "Substitute Option Holder"), the Substitute Option Issuer shall repurchase the Substitute Option from the Substitute Option Holder at a price (the "Substitute Option Repurchase Price") equal to the amount by which (i) the "Highest Closing Price Price" (as defined belowin Section 9(a)) exceeds (ii) the exercise price of the Substitute Option, multiplied by the number of shares of Substitute Common Stock for which the Substitute Option may then be exercised. In addition, and at the request of the owner (the "Substitute Share Owner") of shares of Substitute Common StockStock (the "Substitute Shares"), the Substitute Option Issuer shall repurchase the Substitute Common Stock Shares at a price (the "Substitute Share Repurchase Price") equal to the Highest Closing Price multiplied by the number of shares of Substitute Common Stock Shares so designated. The term "

Appears in 1 contract

Samples: Stock Option Agreement (Nova Corp \Ga\)

Repurchase of Substitute Option. (a) At the request of a holder of the Substitute Option (a "Substitute Option Holder"), the Substitute Option Issuer shall repurchase the Substitute Option from the Substitute Option Holder at a price (the "Substitute Option Repurchase Price") equal to the amount by which (i) the Highest Closing Price (as defined below) exceeds (ii) the exercise price of the Substitute Option, multiplied by the number of shares of Substitute Common Stock for which the Substitute Option may then be exercised. In addition, at the request of the owner (the "Substitute Share Owner") of shares of Substitute Common Stock, the Substitute Option Issuer shall repurchase the Substitute Common Stock at a price (the "Substitute Share Repurchase Price") equal to the Highest Closing Price multiplied by the number of shares of Substitute Common Stock Shares so designated. The term "

Appears in 1 contract

Samples: Stock Option Agreement (Old Kent Financial Corp /Mi/)

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