Common use of Stock Option Closing Clause in Contracts

Stock Option Closing. At the Stock Option Closing, the Stockholders will deliver to Investor a certificate or certificates evidencing all of the Shares, each such certificate being duly endorsed in blank and accompanied by such stock powers and such other documents as may be necessary in Investor's judgment to transfer record ownership of the Shares into Investor's name on the stock transfer books of the Company and Investor will purchase the delivered Shares at a purchase price equal to $16.00 per share of Common Stock. All payments made by Investor to Stockholders pursuant to this Section 1.4 shall be made by wire transfer of immediately available funds to an account designated by the Stockholders or by certified bank check payable to the Stockholders, in an amount equal to the sum of the product of (a) $16.00 and (b) the total number of shares of Common Stock delivered at the Stock Option Closing.

Stock Option Closing. At the Stock Option Closing, the Stockholders will deliver to Investor a certificate or certificates evidencing all of the Shares, each such certificate being duly endorsed in blank and accompanied by such stock powers and such other documents as may be necessary in Investor's judgment to transfer record ownership of the Shares into Investor's name on the stock transfer books of the Company and Investor will purchase the delivered Shares at a purchase price equal to $16.00 14.50 per share of Common Stock. All payments made by Investor to Stockholders pursuant to this Section 1.4 shall be made by wire transfer of immediately available funds to an account designated by the Stockholders or by certified bank check payable to the Stockholders, in an amount equal to the sum of the product of (a) $16.00 14.50 and (b) the total number of shares of Common Stock delivered at the Stock Option Closing.