Repurchase Closing. In the event that the Buyer exercises its Repurchase Right, the Buyer shall notify the Seller in writing of its intent to repurchase the Shares (which, in the case of a purchase under Section 3.2(a) or 3.2(b), above, must be give within the applicable time period specified in Section 3.2(a) or 3.2(b)). The notice shall specify the place, time and date for payment of the repurchase price (the “Repurchase Closing”) and the number of Shares with respect to which the Buyer is exercising its Repurchase Right. The Repurchase Closing shall be not less than five (5) days nor more than thirty (30) days from the date the notice is given, and the Seller shall have no further rights as the owner of such Shares from and after the date specified in the notice for the Repurchase Closing. At the Repurchase Closing, the repurchase price shall be delivered to the Seller and the Shares being repurchased shall be cancelled pursuant to Section 3.4.
Appears in 2 contracts
Sources: Intellectual Property Purchase Agreement, Intellectual Property Purchase Agreement (Higher One Holdings, Inc.)