Common use of Stock Option Closing Clause in Contracts

Stock Option Closing. At the Stock Option Closing, the Shareholder will deliver to Purchaser a certificate or certificates evidencing the Shares owned by Shareholder, each such certificate being duly endorsed in blank and accompanied by such stock powers and such other documents as may be necessary in Purchaser's judgment to transfer record ownership of the Shares into Purchaser's name on the stock transfer books of the Company, and Purchaser will purchase the delivered Shares at the Offer Price. All payments made by Purchaser to Shareholder pursuant to this Section 1.7 shall be made by wire transfer of immediately available funds or by certified bank check payable to Shareholder, in an amount equal to the product of (a) the Offer Price and (b) the Shares delivered by Shareholder in respect of the Stock Option Closing.

Stock Option Closing. At the Stock Option Closing, the Shareholder each Stockholder will deliver to Purchaser Optionee a certificate or certificates evidencing the number of Shares owned by Shareholdersuch Stockholder, each such certificate being duly endorsed in blank and accompanied by such stock powers and such other documents as may be necessary in PurchaserOptionee's judgment to transfer record ownership of the Shares into PurchaserOptionee's name on the stock transfer books of the Company, and Purchaser Optionee will purchase the delivered Shares at the Offer Price. All payments made by Purchaser Optionee to Shareholder the Stockholders pursuant to this Section 1.7 2.4 shall be made by wire transfer of immediately available funds or by certified bank check payable to Shareholderthe Stockholders, in an amount for each Stockholder equal to the product of (a) the Offer Price and (b) the number of Shares delivered by Shareholder such Stockholder in respect of the Stock Option Closing.