Common use of Closing of Purchase Clause in Contracts

Closing of Purchase. (a) Upon the exercise of any forfeiture rights by the Company of the Restricted Stock pursuant to the Agreement, the Company shall give to Holder and you a written notice pursuant to the Agreement. Holder and the Company hereby irrevocably authorize and direct you to close the transaction contemplated by such notice in accordance with the terms of said notice (the “Closing”). (b) At the Closing, you are directed (i) to date the stock assignment form or forms necessary for the transfer of the Restricted Stock, (ii) to fill in on such form or forms the number of Restricted Stock being transferred, and (iii) to deliver same, together with the certificate or certificates evidencing the Restricted Stock to be transferred, to the Company.

Closing of Purchase. (a) Upon the exercise of any forfeiture rights by the Company of the Restricted Stock pursuant to the Agreement, the Company shall give to Holder and you a written notice pursuant to the Agreement. Holder and the Company hereby irrevocably authorize and direct you to close the transaction contemplated by such notice in accordance with the terms of said notice (the “"Closing”"). (b) At the Closing, you are directed (i) to date the stock assignment form or forms necessary for the transfer of the Restricted Stock, (ii) to fill in on such form or forms the number of Restricted Stock being transferred, and (iii) to deliver same, together with the certificate or certificates evidencing the Restricted Stock to be transferred, to the Company.