Repurchase of Substitute Option. (a) At the request of the holder of the Substitute Option (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 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, 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 at a price (the "SUBSTITUTE SHARE REPURCHASE PRICE") equal to the Highest Closing Price multiplied by the number of
Appears in 2 contracts
Samples: Stock Option Agreement (Old Kent Financial Corp /Mi/), Stock Option Agreement (First Evergreen Corp)
Repurchase of Substitute Option. (a) At the request of the holder of the Substitute Option (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, 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 ofHighest
Appears in 2 contracts
Samples: Stock Option Agreement (Washington Mutual Inc), Stock Option Agreement (Long Beach Financial Corp)
Repurchase of Substitute Option. (a) At the request of the holder of the Substitute Option (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 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, 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 ofof Substitute 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 the a holder of the Substitute Option (the 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, 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 at a price (the "SUBSTITUTE SHARE REPURCHASE PRICE") equal to the Highest Closing Price multiplied by the number ofthe
Appears in 1 contract
Samples: Stock Option Agreement (Old Kent Financial Corp /Mi/)
