Common use of Stock Option Closing Clause in Contracts

Stock Option Closing. The Stock Option Closing shall take place at the offices of the Investor at the address specified in Section 9(g). At each Stock Option Closing, the Investor shall pay to the Company the aggregate purchase price (based on the then-applicable Option Price) for the Option Shares purchased pursuant to the exercise of any such portion of the Stock Option by wire transfer of immediately available funds to the account of the Company set forth on Schedule 1.2 of the Transaction Agreement and the Company shall simultaneously deliver to the Investor a certificate or certificates representing the number of Option Shares purchased by the Investor. Upon tendering the applicable purchase price in immediately available funds, the Investor shall be deemed to be the holder of record of the Option Shares issuable upon such exercise, notwithstanding that the stock transfer books of the Company shall then be closed or that certificates representing such Option Shares shall not then be actually delivered to the Investor. The Company shall pay all expenses, and any and all United States federal, state and local taxes and other charges that may be payable in connection with the preparation, issuance and delivery of stock certificates under this Section 2 in the name of the Investor or its assignee, transferee or designee as provided herein.

Stock Option Closing. The Stock Option Closing shall take place at the offices of the Investor at the address specified in Section 9(g). At each Stock Option Closing, the Investor shall pay to the Company the aggregate purchase price (based on the then-applicable Option Price) for the Option Shares purchased pursuant to the exercise of any such portion of the Stock Option by wire transfer of immediately available funds to the account of the Company set forth on Schedule 1.2 of the Transaction Agreement (as defined in the Investors Agreement) and the Company shall simultaneously deliver to the Investor a certificate or certificates representing the number of Option Shares purchased by the Investor. Upon tendering the applicable purchase price in immediately available funds, the Investor shall be deemed to be the holder of record of the Option Shares issuable upon such exercise, notwithstanding that the stock transfer books of the Company shall then be closed or that certificates representing such Option Shares shall not then be actually delivered to the Investor. The Company shall pay all expenses, and any and all United States federal, state and local taxes and other charges that may be payable in connection with the preparation, issuance and delivery of stock certificates under this Section 2 in the name of the Investor or its assignee, transferee or designee as provided herein.