Payment of Option Consideration. Immediately prior to the Effective Time, CBI, subject to a review of the calculation by NewAlliance, shall issue and deliver a check representing the Option Price to the holders of the Options, all of which Options shall have been cancelled in connection with Section 3.1.4 above.
Appears in 2 contracts
Sources: Merger Agreement (Newalliance Bancshares Inc), Merger Agreement (Cornerstone Bancorp Inc)