Common use of Stock Exchange Clause in Contracts

Stock Exchange. No certificates for fractional Common Shares shall be issued or delivered in connection with the transaction contemplated by this Agreement. To the extent that a fractional Common Share would otherwise have been deliverable under the formula set out in the preceding portion of this Section 3(a), Seller shall be entitled to receive a cash payment therefor in an amount equal to the value (determined with reference to the closing price of Common Shares as reported on the New York Stock Exchange Composite Tape on the last full Trading Day immediately prior to the Closing Date) of such fractional interest. Such payment with respect to fractional shares is merely intended to provide a mechanical rounding off of, and is not separately bargained for, consideration. Within five (5) business days following the execution of this Agreement, Buyer shall open an escrow account (the "Earn▇▇▇ ▇▇▇ey Escrow") with First American Title Insurance Company, Troy, Michigan Office, Commercial Advantage Division (the "Title Company") and deposit the sum of One Hundred Sixteen Thousand Dollars ($116,000) (the "Earn▇▇▇ ▇▇▇ey Deposit")

Stock Exchange. No certificates for fractional Common Shares shall be issued or delivered in connection with the transaction contemplated by this Agreement. To the extent that a fractional Common Share would otherwise have been deliverable under the formula set out in the preceding portion of this Section 3(a), Seller shall be entitled to receive a cash payment therefor in an amount equal to the value (determined with reference to the closing price of Common Shares as reported on the New York Stock Exchange Composite Tape on the last full Trading Day immediately prior to the Closing Date) of such fractional interest. Such payment with respect to fractional shares is merely intended to provide a mechanical rounding off of, and is not separately bargained for, consideration. Within five (5) business days following the execution of this Agreement, Buyer shall open an escrow account (the "Earn▇▇▇ ▇▇▇ey Escrow") with First American Title Insurance Company, Troy, Michigan Office, Commercial Advantage Division (the "Title Company") and deposit the sum of One Hundred Sixteen Thousand Dollars ($116,000100,000) (the "Earn▇▇▇ ▇▇▇ey Deposit")

Stock Exchange. No certificates for fractional Common Shares shall be issued or delivered in connection with the transaction contemplated by this Agreement. To the extent that a fractional Common Share would otherwise have been deliverable under the formula set out in the preceding portion of this Section 3(a), Seller shall be entitled to receive a cash payment therefor in an amount equal to the value (determined with reference to the closing price of Common Shares as reported on the New York Stock Exchange Composite Tape on the last full Trading Day immediately prior to the Closing Date) of such fractional interest. Such payment with respect to fractional shares is merely intended to provide a mechanical rounding off of, and is not separately bargained for, consideration. consideration Within five (5) business days following the execution of this Agreement, Buyer shall open an escrow account (the "Earn▇▇▇ ▇▇▇ey Escrow") with First American Title Insurance Company, Troy, Michigan Office, Commercial Advantage Division (the "Title Company") and deposit the sum of One Hundred Sixteen Thirty Thousand Dollars ($116,000130,000) (the "Earn▇▇▇ ▇▇▇ey Deposit")