Common use of Payment and Redelivery of Company Option or Shares Clause in Contracts

Payment and Redelivery of Company Option or Shares. In the event Arrow exercises its rights under this Section 7, the Company shall, within five business days of the Notice Date, pay the required amount to Arrow in immediately available funds and Arrow shall surrender to the Company the Company Option or the certificates evidencing the Company Shares purchased by Arrow pursuant hereto, and Arrow shall warrant that it owns such shares and that such shares are then free and clear of all liens, claims, charges and encumbrances of any kind or nature whatsoever.