Common use of Remedy Clause in Contracts

Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that the Grantee, any Permitted Transferees or any other person or entity is required to sell the Grantee’s Shares pursuant to the provisions of Section 3, 4 and 5 of this Agreement and in the further event that he or she refuses or for any reason fails to deliver to the designated purchaser of such Shares the certificate or certificates evidencing such Shares together with a related stock power, such designated purchaser may deposit the applicable purchase price for such Shares with a bank designated by the Company, or with the Company’s independent public accounting firm, as agent or trustee, or in escrow, for the Grantee, any Permitted Transferees or other person or entity, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Grantee as provided above. Upon any such deposit and/or offset by the designated purchaser of such amount and upon notice to the person or entity who was required to sell the Shares to be sold pursuant to the provisions of Section 3, 4 and 5, such Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

Appears in 9 contracts

Samples: Restricted Stock Agreement (Open Link Financial, Inc.), Restricted Stock Agreement (Demandware Inc), Restricted Stock Agreement (Sailpoint Technologies Holdings, Inc.)

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Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that the GranteeOptionee, any Permitted Transferees or any other person or entity is required to sell the GranteeOptionee’s Issued Shares pursuant to the provisions of Section 38, 4 9 and 5 11 of this Agreement and in the further event that he or she refuses or for any reason fails to deliver to the Company or its designated purchaser of such Issued Shares the certificate or certificates evidencing such Issued Shares together with a related stock power, the Company or such designated purchaser may deposit the applicable purchase price for such Issued Shares with a bank designated by the Company, or with the Company’s independent public accounting firm, as agent or trustee, or in escrow, for the GranteeOptionee, any Permitted Transferees or other person or entity, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Grantee Optionee as provided above. Upon any such deposit and/or offset by the Company or its designated purchaser of such amount and upon notice to the person or entity who was required to sell the Issued Shares to be sold pursuant to the provisions of Section 3Sections 8, 4 9 and 511, such Issued Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

Appears in 8 contracts

Samples: Non Qualified Stock Option Agreement (Lumber Liquidators, Inc.), Incentive Stock Option Agreement (Monotype Imaging Holdings Inc.), Incentive Stock Option Agreement (Open Link Financial, Inc.)

Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that the GranteeOptionee, any Permitted Transferees or any other person or entity Person is required to sell the GranteeOptionee’s Issued Shares of Stock pursuant to the provisions of Section 3, 4 Sections 9 and 5 11 of this Agreement and in the further event that he or she refuses or for any reason fails to deliver to the Company or its designated purchaser of such Issued Shares of Stock the certificate or certificates evidencing such Issued Shares of Stock together with a related stock power, the Company or such designated purchaser may deposit the applicable purchase price for such Issued Shares of Stock with a bank designated by the Company, or with the Company’s independent public accounting firm, as agent or trustee, or in escrow, for the GranteeOptionee, any Permitted Transferees or other person or entityPerson, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Grantee Optionee as provided above. Upon any such deposit and/or offset by the Company or its designated purchaser of such amount and upon notice to the person or entity Person who was required to sell the Issued Shares of Stock to be sold pursuant to the provisions of Section 3, 4 Sections 9 and 511, such Issued Shares of Stock shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

Appears in 6 contracts

Samples: Non Qualified Stock Option Agreement (Hayward Holdings, Inc.), Non Qualified Stock Option Agreement (Hayward Holdings, Inc.), Non Qualified Stock Option Agreement (Hayward Holdings, Inc.)

Remedy. Without limitation of any other provision of this Agreement ------ or other rights, in the event that the Grantee, any his or her Permitted Transferees or any other person or entity is required to sell the Grantee’s his or her Restricted Shares pursuant to the provisions of this Section 3, 4 and 5 of this Agreement 3 and in the further event that he or she refuses or for any reason fails to deliver to the designated purchaser of such Restricted Shares the certificate or certificates evidencing such Restricted Shares together with a related stock power, such designated purchaser may deposit the applicable purchase price for such Restricted Shares with a any bank designated by doing business within fifty (50) miles of the Company's principal office, or with the Company’s 's independent public accounting firm, as agent or trustee, or in escrow, for the Grantee, any his or her Permitted Transferees or other person or entity, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Grantee as provided above. Upon any such deposit and/or offset by the designated purchaser of such amount and upon notice to the person or entity who was required to sell the Restricted Shares to be sold pursuant to the provisions of this Section 3, 4 and 5, such Restricted Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

Appears in 6 contracts

Samples: Restricted Stock Agreement (Boron Lepore & Associates Inc), Restricted Stock Agreement (Boron Lepore & Associates Inc), Restricted Stock Agreement (Boron Lepore & Associates Inc)

Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that the GranteeOptionee, any Permitted Transferees or any other person or entity is required to sell the GranteeOptionee’s Issued Shares pursuant to the provisions of Section 3, 4 Sections 8 and 5 9 of this Agreement and in the further event that he or she refuses or for any reason fails to deliver to the Company or its designated purchaser of such Issued Shares the certificate or certificates evidencing such Issued Shares together with a related stock power, the Company or such designated purchaser may deposit the applicable purchase price for such Issued Shares with a bank designated by the Company, or with the Company’s independent public accounting firm, as agent or trustee, or in escrow, for the GranteeOptionee, any Permitted Transferees or other person or entity, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Grantee Optionee as provided above. Upon any such deposit and/or offset by the Company or its designated purchaser of such amount and upon notice to the person or entity who was required to sell the Issued Shares to be sold pursuant to the provisions of Section 3, 4 Sections 8 and 59, such Issued Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

Appears in 5 contracts

Samples: Incentive Stock Option Agreement (Sailpoint Technologies Holdings, Inc.), Non Qualified Stock Option Agreement (Sailpoint Technologies Holdings, Inc.), Non Qualified Stock Option Agreement (Sailpoint Technologies Holdings, Inc.)

Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that the Grantee, any Permitted Transferees Grantee or any other person or entity is required to sell the Grantee’s Shares pursuant to the provisions of Section 3, 4 and 5 3 of this Agreement and in the further event that he or she refuses or for any reason fails to deliver to the designated purchaser of such Shares the certificate or certificates evidencing such Shares together with a related stock power, such designated purchaser may deposit the applicable purchase price for such Shares with a bank designated by the Company, or with the Company’s independent public accounting firm, as agent or trustee, or in escrow, for the Grantee, any Permitted Transferees Grantee or other person or entity, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Grantee as provided above. Upon any such deposit and/or offset by the designated purchaser of such amount and upon notice to the person or entity who was required to sell the Shares to be sold pursuant to the provisions of Section 3, 4 and 5, such Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

Appears in 4 contracts

Samples: Restricted Stock Agreement (Animal Health International, Inc.), Restricted Stock Agreement (Animal Health International, Inc.), Restricted Stock Agreement (Animal Health International, Inc.)

Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that the Grantee, any Permitted Transferees or any other person or entity is required to sell the Grantee’s Shares pursuant to the provisions of Section 3, 4 and 5 3 of this Agreement or pursuant to the provisions of the Stockholders Agreement and in the further event that he or she refuses or for any reason fails to deliver to the designated purchaser of such Shares the certificate or certificates evidencing such Shares together with a related stock power, such designated purchaser may deposit the applicable purchase price for such Shares with a bank designated by the Company, or with the Company’s independent public accounting firm, as agent or trustee, or in escrow, for the Grantee, any Permitted Transferees or other person or entity, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Grantee as provided above. Upon any such deposit and/or offset by the designated purchaser of such amount and upon notice to the person or entity who was required to sell the Shares to be sold pursuant to the provisions of Section 3, 4 and 5, such Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

Appears in 3 contracts

Samples: Restricted Stock Agreement (Papa Murphy's Holdings, Inc.), Restricted Stock Agreement (Papa Murphy's Holdings, Inc.), Stock Repurchase and Put Option Agreement (Papa Murphy's Holdings, Inc.)

Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that the GranteeOptionee, any Permitted Transferees or any other person or entity is required to sell the GranteeOptionee’s Issued Shares pursuant to the provisions of Section 3, 4 Sections 8 and 5 10 of this Agreement and in the further event that he or she refuses or for any reason fails to deliver to the Company or its designated purchaser of such Issued Shares the certificate or certificates evidencing such Issued Shares together with a related stock power, the Company or such designated purchaser may deposit the applicable purchase price for such Issued Shares with a bank designated by the Company, or with the Company’s independent public accounting firm, as agent or trustee, or in escrow, for the GranteeOptionee, any Permitted Transferees or other person or entity, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Grantee Optionee as provided above. Upon any such deposit and/or offset by the Company or its designated purchaser of such amount and upon notice to the person or entity who was required to sell the Issued Shares to be sold pursuant to the provisions of Section 3, 4 Sections 8 and 510, such Issued Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

Appears in 3 contracts

Samples: Incentive Stock Option Agreement (Demandware Inc), Incentive Stock Option Agreement (Demandware Inc), Qualified Stock Option Agreement (Demandware Inc)

Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that the Grantee, any Permitted Transferees or any other person or entity is required to sell the Grantee’s 's Shares pursuant to the provisions of Section 3, 3 and 4 and 5 of this Agreement and in the further event that he or she refuses or for any reason fails to deliver to the designated purchaser of such Shares the certificate or certificates evidencing such Shares together with a related stock power, such designated purchaser may deposit the applicable purchase price for such Shares with a bank designated by the Company, or with the Company’s 's independent public accounting firm, as agent or trustee, or in escrow, for the Grantee, any Permitted Transferees or other person or entity, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Grantee as provided above. Upon any such deposit and/or offset by the designated purchaser of such amount and upon notice to the person or entity who was required to sell the Shares to be sold pursuant to the provisions of Section 3, 4 3 and 54, such Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

Appears in 2 contracts

Samples: Stock Restriction Agreement (BladeLogic, Inc.), BladeLogic, Inc.

Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that the Grantee, any Permitted Transferees or any other person or entity Grantee is required to sell the Grantee’s his, her or its Restricted Shares pursuant to the provisions of this Section 3, 4 and 5 of this Agreement 3 and in the further event that he he, she or she it refuses or for any reason fails to deliver to the designated purchaser of such Restricted Shares the certificate or certificates evidencing such Restricted Shares together with a related stock power, such designated purchaser may deposit the applicable purchase price Repurchase Price for such Restricted Shares with a any bank designated by doing business within fifty (50) miles of the Company's principal office, or with the Company’s 's independent public accounting firm, as agent or trustee, or in escrow, for the Grantee, any Permitted Transferees or other person or entity, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretionthe discretion of such bank or accounting firm, pay such purchase price Repurchase Price by offsetting any indebtedness then owed by the Grantee as provided above. Upon any such deposit and/or offset by the designated purchaser of such amount and upon notice to the person or entity who was required to sell the Restricted Shares to be sold pursuant to the provisions of this Section 3, 4 and 5, such Restricted Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Stride & Associates Inc)

Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that the Grantee, any Permitted Transferees or any other person or entity Grantee is required to sell the Grantee’s his, her or its Repurchased Shares pursuant to the provisions of this Section 3, 4 and 5 of this Agreement 3 and in the further event that he he, she or she it refuses or for any reason fails to deliver to the designated purchaser of such Repurchased Shares the certificate or certificates evidencing such Repurchased Shares together with a related stock power, such designated purchaser may deposit the applicable purchase price Repurchase Price for such Repurchased Shares with a any bank designated by doing business within fifty (50) miles of the Company's principal office, or with the Company’s 's independent public accounting firm, as agent or trustee, or in escrow, for the Grantee, any Permitted Transferees or other person or entity, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretionthe discretion of such bank or accounting firm, pay such purchase price Repurchase Price by offsetting any indebtedness then owed by the Grantee as provided above. Upon any such deposit and/or offset by the designated purchaser of such amount and upon notice to the person or entity who was required to sell the Repurchased Shares to be sold pursuant to the provisions of this Section 3, 4 and 5, such Repurchased Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Stride & Associates Inc)

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Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that the Grantee, any his or her Permitted Transferees or any other person or entity is required to sell the Grantee’s his or her Restricted Shares pursuant to the provisions of this Section 3, 4 and 5 of this Agreement 3 and in the further event that he or she refuses or for any reason fails to deliver to the designated purchaser of such Restricted Shares the certificate or certificates evidencing such Restricted Shares together with a related stock power, such designated purchaser may deposit the applicable purchase price for such Restricted Shares with a any bank designated by doing business within fifty (50) miles of the Company's principal office, or with the Company’s 's independent public accounting firm, as agent or trustee, or in escrow, for the Grantee, any his or her Permitted Transferees or other person or entity, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Grantee as provided above. Upon any such deposit and/or offset by the designated purchaser of such amount and upon notice to the person or entity who was required to sell the Restricted Shares to be sold pursuant to the provisions of this Section 3, 4 and 5, such Restricted Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

Appears in 1 contract

Samples: Restricted Stock Agreement (Monarch Dental Corp)

Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that the Grantee, any Permitted Transferees or any other person or entity is required to sell the Grantee’s 's Shares pursuant to the provisions of Section 3, 4 and 5 of this Agreement and in the further event that he or she refuses or for any reason fails to deliver to the designated purchaser of such Shares the certificate or certificates evidencing such Shares together with a related stock power, such designated purchaser may deposit the applicable purchase price for such Shares with a bank designated by the Company, or with the Company’s 's independent public accounting firm, as agent or trustee, or in escrow, for the Grantee, any Permitted Transferees or other person or entity, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Grantee as provided above. Upon any such deposit and/or offset by the designated purchaser of such amount and upon notice to the person or entity who was required to sell the Shares to be sold pursuant to the provisions of Section 3, 4 and 5, such Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

Appears in 1 contract

Samples: Restricted Stock Agreement (Open Link Financial, Inc.)

Remedy. Without limitation of any other provision of this Agreement ------ or other rights, in the event that the Grantee, any his Permitted Transferees or any other person or entity is required to sell the Grantee’s his or her Restricted Shares pursuant to the provisions of this Section 3, 4 and 5 of this Agreement 3 and in the further event that he or she refuses or for any reason fails to deliver to the designated purchaser of such Restricted Shares the certificate or certificates evidencing such Restricted Shares together with a related stock power, such designated purchaser may deposit the applicable purchase price for such Restricted Shares with a any bank designated by doing business within fifty (50) miles of the Company's principal office, or with the Company’s 's independent public accounting firm, as agent or trustee, or in escrow, for the Grantee, any his Permitted Transferees or other person or entity, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Grantee as provided above. Upon any such deposit and/or offset by the designated purchaser of such amount and upon notice to the person or entity who was required to sell the Restricted Shares to be sold pursuant to the provisions of this Section 3, 4 and 5, such Restricted Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

Appears in 1 contract

Samples: Restricted Stock Agreement (Ansys Inc)

Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that the Grantee, any Permitted Transferees or any other person or entity is required to sell the Grantee’s Shares pursuant to the provisions of Section 3, Sections 3 and 4 and 5 of this Agreement and in the further event that he or she refuses or for any reason fails to deliver to the designated purchaser of such Shares the certificate or certificates evidencing such Shares together with a related stock power, such designated purchaser may deposit the applicable purchase price for such Shares with a bank designated by the Company, or with the Company’s independent public accounting firm, as agent or trustee, or in escrow, for the Grantee, any Permitted Transferees or other person or entity, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Grantee as provided above. Upon any such deposit and/or offset by the designated purchaser of such amount and upon notice to the person or entity who was required to sell the Shares to be sold pursuant to the provisions of Section 3, 4 Sections 3 and 54, such Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

Appears in 1 contract

Samples: Early Exercise Incentive Stock Option Agreement (Sailpoint Technologies Holdings, Inc.)

Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that the GranteePrincipal, any Permitted Transferees or any other person or entity is required to sell the Grantee’s Principal's Restricted Shares pursuant to the provisions of this Section 3, 4 and 5 of this Agreement 3.1.4 and in the further event that he or she refuses or for any reason fails to deliver to the designated purchaser of such Restricted Shares the certificate or certificates evidencing such Restricted Shares together with a related stock power, such designated purchaser may deposit the applicable purchase price Repurchase Price for such Restricted Shares with a bank designated by the CompanyPurchaser, or with the Company’s Purchaser's independent public accounting firm, as agent or trustee, or in escrow, for the GranteePrincipal, any Permitted Transferees or other person or entity, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Grantee Principal as provided above. Upon any such deposit and/or offset by the designated purchaser of such amount and upon notice to the person or entity who was required to sell the Restricted Shares to be sold pursuant to the provisions of this Section 3, 4 and 53.1.4, such Restricted Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company Purchaser shall record such transfer in its stock transfer book or in any appropriate manner.

Appears in 1 contract

Samples: Share Purchase Agreement (Primix)

Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that the Grantee, any Permitted Transferees or any other person or entity is required to sell the Grantee’s Shares pursuant to the provisions of Section 3, 3 and 4 and 5 of this Agreement and in the further event that he or she refuses or for any reason fails to deliver to the designated purchaser of such Shares the certificate or certificates evidencing such Shares together with a related stock power, such designated purchaser may deposit the applicable purchase price for such Shares with a bank designated by the Company, or with the Company’s independent public accounting firm, as agent or trustee, or in escrow, for the Grantee, any Permitted Transferees or other person or entity, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Grantee as provided above. Upon any such deposit and/or offset by the designated purchaser of such amount and upon notice to the person or entity who was required to sell the Shares to be sold pursuant to the provisions of Section 3, 4 and 5, such Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

Appears in 1 contract

Samples: Restricted Stock Agreement (YogaWorks, Inc.)

Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that the Grantee, any his or her Permitted Transferees or any other person or entity is required to sell the Grantee’s his or her Shares pursuant to the provisions of this Section 3, 4 and 5 of this Agreement 3 and in the further event that he or she refuses or for any reason fails to deliver to the designated purchaser of such Shares the certificate or certificates evidencing such Shares together with a related stock power, such designated purchaser may deposit the applicable purchase price for such Shares with a any bank designated by doing business within fifty (50) miles of the Company's principal office, or with the Company’s 's independent public accounting firm, as agent or trustee, or in escrow, for the Grantee, any his or her Permitted Transferees or other person or entity, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Grantee as provided above. Upon any such deposit and/or offset by the designated purchaser of such amount and upon notice to the person or entity who was required to sell the Shares to be sold pursuant to the provisions of this Section 3, 4 and 5, such Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

Appears in 1 contract

Samples: Restricted Stock Agreement (Natrol Inc)

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