Common use of Mechanics for Call Option Right Clause in Contracts

Mechanics for Call Option Right. The Company and the applicable Restricted Stockholder shall comply with the Call Option Right as follows: (i) promptly upon (and in no event later than five business days after) timely receipt of a Call Option Notice, such Restricted Stockholder shall deliver, or cause to be delivered, to the principal office of the Company the certificate(s) representing the Shares so purchased, duly endorsed to (or accompanied by a signed stock power sufficient to transfer title thereof to) the Company; and (ii) promptly upon (and in no event later than five business days after) receipt of such certificate(s), the Company shall pay the purchase price for the Shares represented thereby to such Restricted Stockholder, by Company check mailed to such Restricted Stockholder at such address as shall be specified in writing by such Restricted Stockholder (or, absent such specification, to such Restricted Stockholder’s address of record as on file with the Company).

Mechanics for Call Option Right. The Company and the applicable Restricted Stockholder shall comply with the Call Option Right as follows: (i) promptly upon (and in no event later than five (5) business days after) timely receipt of a Call Option Notice, such Restricted Stockholder shall deliver, or cause to be delivered, to the principal office of the Company the certificate(s) representing the applicable Shares so purchased, duly endorsed to (or accompanied by a signed stock power sufficient to transfer title thereof to) the Company; and (ii) promptly upon (and in no event later than five (5) business days after) receipt of such certificate(s), the Company shall pay the purchase price for the Shares represented thereby to such Restricted Stockholder, by Company wire transfer of immediately available funds or by check mailed to such Restricted Stockholder at such address as shall be specified in writing by such Restricted Stockholder (or, absent such specification, to such Restricted Stockholder’s address of record as on file with the Company).