Surviving Holder definition
Examples of Surviving Holder in a sentence
The Surviving Holder shall have the option to purchase all of the Common Stock vesting in or transferable to such heir or legatee for an amount equal to the Purchase Price, and such heir or legatee and the estate of the deceased spouse shall be obligated to sell such Common Stock to the Surviving Holder for such Purchase Price.
If the spouse of a Holder dies, and all or any portion of the Common Stock registered in the name of such Holder (the “Surviving Holder”) vests in or is transferable to any heir or legatee other than the Surviving Holder, the Surviving Holder shall promptly notify the Company of such event.
The Surviving Holder shall, within five (5) days after the expiration of such one hundred fifty (150) day period, deliver written notice to the Company as to whether the Surviving Holder has purchased all of the Common Stock vesting in or transferable to any such heir or legatee.
The Surviving Holder shall, within five (5) days after the expiration of such one hundred fifty (150) day period, deliver written notice to the Company as to whether the Surviving Holder has purchased all or a portion of the Common Stock vesting in or transferable to any such heir or legatee.
The Surviving Holder shall have the option to purchase all or any portion of the Common Stock vesting in or transferable to such heir or legatee for the Purchase Price, and such heir or legatee and the estate of the deceased spouse shall be obligated to sell such Common Stock to the Surviving Holder for the Purchase Price.
If the spouse of a Holder dies, and all or any portion of the Common Stock registered in the name of such Holder (“Surviving Holder”) vests in or is transferable to any heir or legatee other than the Surviving Holder, the Surviving Holder shall promptly notify the Company of such event.
If the Deceased Purchase Notice states that the Surviving Holder has not purchased all such Stock, or if no Deceased Purchase Notice is delivered to the Company within such five-day period, all such heirs and legatees shall be deemed to have made an irrevocable offer ("Offer") of all such Stock to the Eligible Offerees to be accepted in accordance with Section 4.
The option shall be exercised by the Surviving Holder giving written notice of exercise to the executor, administrator or legal representative of the Deceased Spouse's estate, with a copy to the Company.
If such notice states that the Surviving Holder has not purchased all such Passing Share Interest, or no such notice is delivered to the Company within the time required, then the estate of the Deceased Spouse and all such heirs and legatees shall be deemed to have made an irrevocable offer (“Offer”) to sell all of such Passing Share Interest not purchased by the Surviving Holder to the Eligible Offerees for the Purchase Price.
Provided however it is made clear that under no circumstances the Allottee/Purchaser shall be entitled to claim possession unless all the dues of the Vendors/Owners/Promoter/Developer including those over and above the price of the said Apartment have been fully paid and discharged by the Allottee/Purchaser and upon the Vendors/Owners/ Promoter/Developer giving a written notice the Allottee/Purchaser shall take possession of the Apartment within 15 days of the written notice.