Called Shares definition
Examples of Called Shares in a sentence
The Call Notice shall specify the date thereof, the number of Called Shares and the Call Price.
At closing, Arena shall deliver to the Stockholder the amount of the purchase price for the Called Shares in immediately available funds, and the Stockholder shall deliver to Arena the stock certificate(s) representing the Called Shares, properly endorsed for transfer to Arena.
If at any time the Prohibitions shall cease to be applicable to any portion of the Called Shares not purchased, then the Company shall purchase such portion on the first practicable date on which the Company is permitted to do so.
Upon exercise of the Call Option by Arena, the Stockholder shall be obligated to sell the Called Shares to Arena for the Per Share Call Price.
Arena may exercise the Call Option by giving written notice of such exercise to the Stockholder, specifying the number of Shares with respect to which the Call Option is being exercised (the "Called Shares") and the effective date of the repurchase which shall be no less than ten (10) days and no more than sixty (60) days after the date of the notice.