Common use of Surrender of Certificates Representing Shares Clause in Contracts

Surrender of Certificates Representing Shares. At the Effective Time, Picasso, upon surrender to Parent of one or more certificates in valid form representing the shares of Company Common Stock, duly endorsed in blank or accompanied by duly executed stock powers, shall be entitled to receive the consideration set forth in Section 3.9(a) in respect of the shares of capital stock represented by such certificates. Until so surrendered, each such certificate shall, after the Effective Time, represent for all purposes only the right to receive such consideration as set forth in Section 3.9(a).