Delivery of Title. So as to effect the transfer of the Option Shares from Optionors to Optionee in the event Optionee shall elect to exercise the Option, currently with the execution of this Agreement, Optionors shall deliver to Option Holder the original of the Share Certificates representing the Option Shares along with such instruments and documents as necessary to allow the Option Holder to effect a transfer of the Option Shares to the Optionee should the Option be exercised which Option Holder shall hold pursuant to the provisions of this Agreement. Should Optionee exercise the Option as provided herein, Option Holder shall be entitled to deliver the Share Certificate and the transfer documents to the Company’s stock transfer agent to allow a new Share Certificate representing the shares purchased to be issued in the purchasing Optionee’s name.
Appears in 2 contracts
Sources: Option Agreement (Oakes Frank R.), Option Agreement (Oakes Frank R.)