Common use of Option of NovaMed to Repurchase Clause in Contracts

Option of NovaMed to Repurchase. Option Holder hereby grants to NovaMed an irrevocable right to repurchase, at any time within one hundred eighty (180) days from and after his/her death or any termination of employment, any or all of the shares acquired hereunder. NovaMed shall exercise this option by delivering written notice thereof to the record owner of such shares together with payment in the sum provided below. Concurrently with the exercise by NovaMed of this option, the record owner of such shares shall deliver to NovaMed all certificates representing the said shares. which certificates shall be properly endorsed in blank.

Option of NovaMed to Repurchase. Option Holder hereby grants to NovaMed an irrevocable right to repurchase, at any time within one hundred eighty (180) days from and after his/her death or any termination of employment, any or all of the shares acquired hereunder. NovaMed shall exercise this option by delivering written notice thereof to the record owner of such shares together with payment in the sum provided below. Concurrently with the exercise by NovaMed of this option, the record owner of such shares shall deliver to NovaMed all certificates representing the said shares. which certificates shall be properly endorsed in blank.. (2)