Rights of Repurchase. If any of the events specified in Article 19(b) below occur, then:
Rights of Repurchase. Seller, may, in the exercise of its discretion, elect to repurchase the Lot in the event that construction of a single family residence is not commenced within two (2) years after the date of possession of the Lot. Possession is defined as the date of recording of an affidavit by the Developer that all infrastructure improvements and all amenities in Forest Lakes Subdivision have been completed. The repurchase price to be paid by Seller to Buyer shall be equal to the original purchase price. If Seller elects to exercise its rights to repurchase, any “Institutional Mortgagee” (as hereinafter defined) shall be entitled to receive notice of such election if the Institutional Mortgagee has given written notice (in accordance with Paragraph 5 hereof) to Seller of (a) a copy of the mortgage; and (b) its name and address. Such Institutional Mortgagee may, within ten (10) days after receipt of such notice, elect to assume Xxxxx’s obligations hereunder and promptly cure the default and proceed to complete construction whereupon Seller shall be deemed to waive its rights of repurchase as to the specific default, but not as to any future default under the Sales Agreement. Any such election shall be exercised by such Institutional Mortgagee giving written notice thereof to Seller whereupon the Institutional Mortgagee shall execute promptly formal assumption documents, in such form and content as Seller may reasonably require.
Rights of Repurchase. If any of the events specified in Section 17(b) below occur, then: (i) with respect to shares acquired upon exercise of this option prior to the occurrence of such event, within 60 days after the Company receives actual knowledge of the event, and (ii) with respect to shares acquired upon exercise of this option after the occurrence of such event, within 60 days following the later of the date of such exercise or the date the Company receives actual knowledge of such event, (in either case, the "Repurchase Period"), the Company shall have the option, but not the obligation, to repurchase all, but not a portion of, the shares from the Optionee, or his or her legal representatives, as the case may be (the "Repurchase Option"). The Repurchase Option shall be exercised by the Company by giving the Optionee, or his or her legal representative, written notice of its intention to exercise the Repurchase Option on or before the last day of the Repurchase Period, and, together with such notice, tendering to the Optionee, or legal representative, an amount equal to the higher of the option price or the fair market value of the shares. The Company, may, in exercising the Repurchase Option, designate one or more nominees to purchase the shares either within or without the Company. Upon timely exercise of the Repurchase Option in the manner provided in this Section 17(a), the Optionee, or his or her legal representative, shall deliver to the Company the stock certificate or certificates representing the shares being repurchased, duly endorsed and free and clear of any and all liens, charges and encumbrances. If shares are not purchased under the Repurchase Option, the Optionee and his or her successor in interest, if any, will hold any such shares in possession subject to all of the provisions of this Agreement.
Rights of Repurchase. If any of ----------------------------- -------------------- the events specified in Section 19(b) below occur, then,
Rights of Repurchase. Prior to the effective date of a Change in Control, upon a Termination of Employment of a Participant, the Company shall have the right to repurchase all or any portion of the shares of Common Stock acquired pursuant to the exercise of the Participant’s Option (the “Acquired Shares”), izvhether held by the Participant or by a transferee of the Participant as permitted under Section 7.3 (a “Permitted Transferee”), on the following terms and conditions:
Rights of Repurchase a. The Company shall have the right and option (but not the obligation) to purchase all (or any lesser portion as the Company may elect) of the Shares held by the Holder if the Holder transfers (or purports to transfer) any Shares in violation of Section 8.
Rights of Repurchase. Each purchase agreement shall contain a schedule granting the Company the right to repurchase Units acquired by Employees pursuant to this Plan. The Company's repurchase rights shall be released by it no more rapidly than: months after purchase percent of Units released --------------------- ------------------------- less than 24 zero less than 36 25 less than 48 50 less than 60 75 thereafter 100 The Company's repurchase rights: (a) shall allow it to purchase the percentage of the Units specified in the preceding sentence at the Employee's original cost (not including interest) or at such greater price as the Company and the Employee shall agree; (b) may be conditioned upon such other factors, other than the passage of time, as the Company and the Employee may agree, including, without limitation, achievement of performance goals by the Employee; and (c) shall terminate if there is a change in control of the Company at any time after year-end 1999.
Rights of Repurchase. 10.1. With the Assignment Agreement the Assignee is entitled at any time to cede the Claim to the Assignor.
Rights of Repurchase. If any of the events specified in Section 8(b) below occur, then within one year following the date that the Company receives actual knowledge of such event (the “Repurchase Period”), the Company shall have the right, but not the obligation, to repurchase all or a portion of the Option Shares acquired upon exercise of this Option from the Optionee, or his or her legal representatives, as the case may be (the “Repurchase Option”). The Repurchase Option shall be exercised by the Company by giving the Optionee, or his or her legal representative, written notice of its intention to exercise the Repurchase Option (the “Repurchase Notice”) on or before the last day of the Repurchase Period.
Rights of Repurchase. Upon the termination of the Optionee's employment with the Company for any reason, whether voluntary or involuntary, the Company shall have the right, exercisable by giving written notice to the Optionee within six (6) months after the termination of the Optionee's employment with the Company, to purchase (or to cause a corporation, entity, person or group designated by the Company to purchase) all or any portion of the Option Shares then owned or that may thereafter be acquired by the Optionee hereunder, at the Book Value Per Share, as defined above, determined as of the end of the calendar month ending next prior to the date of termination of the Optionee's employment with the Company. If the Company exercises its option with respect to any of the Option Shares hereunder, the closing of the purchase will take place at a time and location designated by the Company, but in any event within thirty (30) days after the date on which the Company gave notice of exercise. At such closing, the Optionee shall deliver to the Company the certificate or certificates evidencing the Option Shares, properly endorsed and assigned in writing, and thereupon by force hereof and without further act or agreement, the Optionee shall warrant that he or she has good title, right to possession of and right to sell the Option Shares free and clear of any and all claims, liens, encumbrances, restrictions or other adverse claims.
