Common use of Payment and Delivery of Option Units Clause in Contracts

Payment and Delivery of Option Units. Payment for the Option Units shall be made on the Option Closing Date by wire transfer in Federal (same day) funds of the price per Option Unit to the Company upon delivery to the Underwriters of the Option Units through the full fast transfer facilities of DTC for the account of the Underwriters. The Option Units shall be registered in such name or names and in such authorized denominations as the Representative may request in writing at least two (2) Business Days prior to the Closing Date or Option Closing Date, as the case may be. Payment for the Option Units will be accompanied by delivery to the Representative of the other documentation required to be delivered hereunder. Any remaining proceeds (less commissions, the Corporate Finance Fee and actual expense payments or other fees payable pursuant to this Agreement) shall be paid to the order of the Company upon delivery of the Option Units.