Common use of Surrender of Share Certificates Clause in Contracts

Surrender of Share Certificates. Each BSI Shareholder who is entitled to receive Meridex Shares in exchange for their BSI Shares as set out in §2.1 will on or after Closing surrender the certificate or certificates representing the BSI Shares held by such BSI Shareholder to Meridex and in return will be entitled to receive a certificate representing Meridex Shares on the basis set out herein. Until such surrender and exchange, the share certificate or certificates representing BSI Shares held by each such BSI Shareholder will be evidence of their right to be registered as a holder of Meridex Shares.