Common use of Exercise of Repurchase Right Clause in Contracts

Exercise of Repurchase Right. The Parent may exercise its Repurchase Right by providing written notice to the Executive which shall advise the Executive that it is exercising its Repurchase Right with respect to the Replacement Option and such notice shall also state the closing date and time for the exercise of the Repurchase Right and payment of the Repurchase Price, which date shall be no later than 15 days following the Notice Date, as defined herein. The date that the Parent provides written notice of its intent to exercise the Replacement Option shall be referred to hereinafter as the "Notice Date." The Executive shall have ten days following the Notice Date to exercise all or any portion of the vested Replacement Option.

Exercise of Repurchase Right. The Parent may exercise its Repurchase Right by providing written notice to the Executive which shall advise the Executive that it is exercising its Repurchase Right with respect to the Replacement Option and such notice shall also state the closing date and time for the exercise of the Repurchase Right and payment of the Repurchase Price, which date shall be no later than 15 days following the Notice Date, as defined herein. The date that the Parent provides written notice of its intent to exercise the Replacement Option shall be referred to hereinafter as the "“Notice Date." ” The Executive shall have ten days following the Notice Date to exercise all or any portion of the vested Replacement Option.