Common use of Unforeseen Personal Hardship Clause in Contracts

Unforeseen Personal Hardship. In the event that the Purchaser, while in the employment of Holding or any direct or indirect subsidiary of Holding, experiences Unforeseen Personal Hardship, the Board will carefully consider any request by the Purchaser that Holding repurchase the Purchaser's Shares at a price determined in accordance with Section 7 hereof, but Holding shall have no obligation to repurchase such Shares. The Board shall consider such request with respect to Unforeseen Personal Hardship as soon as practicable after receipt by Holding of a written request by the Purchaser, such request to include sufficient details of the Purchaser's Unforeseen Personal Hardship to permit the Board to review the request and the circumstances in an informed manner.

Appears in 3 contracts

Samples: Management Stock Subscription Agreement (Raci Holding Inc), Management Stock Subscription Agreement (Remington Arms Co Inc/), Management Stock Subscription Agreement (Raci Holding Inc)

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Unforeseen Personal Hardship. In the event that the PurchaserEmployee, ---------------------------- while in the employment of Holding the Company or any direct or indirect subsidiary of HoldingSubsidiary, experiences Unforeseen Personal Hardship, the Board will carefully consider any request by the Purchaser Employee that Holding the Company repurchase the PurchaserEmployee's Shares at a price determined in accordance with Section 7 hereofShares, but Holding the Company shall have no obligation to repurchase such Shares. The Board shall consider such request with respect re spect to Unforeseen Personal Hardship as soon as practicable after receipt by Holding the Company of a written request by the PurchaserEmployee, such request to include sufficient details of the PurchaserEmployee's Unforeseen Personal Hardship to permit the Board to review the request and the circumstances in an informed manner.

Appears in 3 contracts

Samples: Management Equity Agreement (Dynatech Corp), Management Equity Agreement (Dynatech Corp), Management Equity Agreement (Cd&r Investment Associates Ii Inc)

Unforeseen Personal Hardship. In the event that the Purchaser, while in the employment of Holding or any direct or indirect subsidiary of HoldingEmployment, experiences Unforeseen Personal Hardship, the Board will carefully consider any request by the Purchaser that Holding the Company repurchase the Purchaser's Shares at a price determined in accordance with Section 7 hereof, but Holding the Company shall have no obligation to repurchase such Shares. The Board shall consider such request with respect to Unforeseen Personal Hardship as soon as practicable after receipt by Holding the Company of a written request by the Purchaser, such request to include sufficient details of the Purchaser's Unforeseen Personal Hardship to permit the Board to review the request and the circumstances in an informed manner.

Appears in 1 contract

Samples: Management Stock Option Agreement (Riverwood Holding Inc)

Unforeseen Personal Hardship. In the event that the Purchaser, while in ---------------------------- the employment of Holding or any direct or indirect subsidiary of Holding, experiences Unforeseen Personal Hardship, the Board will carefully consider any request by the Purchaser that Holding repurchase the Purchaser's Shares at a price determined in accordance with Section 7 hereof, but Holding shall have no obligation to repurchase such Shares. The Board shall consider such request with respect to Unforeseen Personal Hardship as soon as practicable after receipt by Holding of a written request by the Purchaser, such request to include sufficient details of the Purchaser's Unforeseen Personal Hardship to permit the Board to review the request and the circumstances in an informed manner.

Appears in 1 contract

Samples: Management Stock Subscription Agreement (Raci Holding Inc)

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Unforeseen Personal Hardship. In the event that the Purchaser, ---------------------------- while in the employment of Holding or any direct or indirect subsidiary one of Holdingits Subsidiaries, experiences Unforeseen Personal Hardship, the Holding Board will carefully consider any request by the Purchaser that Holding repurchase the Purchaser's Shares at a price determined in accordance with Section 7 hereof, but Holding shall have no obligation to repurchase such Shares. The Holding Board shall consider such request with respect to Unforeseen Personal Hardship as soon as practicable after receipt by Holding of a written request by the Purchaser, such request to include sufficient details of the Purchaser's Unforeseen Personal Hardship to permit the Holding Board to review the request and the circumstances in an informed manner.

Appears in 1 contract

Samples: Management Stock Subscription Agreement (Qualifax Sa De Cv)

Unforeseen Personal Hardship. In the event that the Purchaser, while in the employment of Holding Worldwide or any direct or indirect subsidiary of HoldingSubsidiary thereof, experiences Unforeseen Personal Hardship, the Board will carefully consider any request by the Purchaser that Holding Worldwide repurchase the Purchaser's Shares at a price determined in accordance with Section 7 hereof, but Holding Worldwide shall have no obligation to repurchase such Shares. The Board shall consider such request with respect to Unforeseen Personal Hardship as soon as practicable after receipt by Holding Worldwide of a written request by the Purchaser, such request to include sufficient details of the Purchaser's Unforeseen Personal Hardship to permit the Board to review the request and the circumstances in an informed manner.

Appears in 1 contract

Samples: Management Stock Subscription Agreement (Relocation Management Systems Inc)

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