Common use of Closing of Sale Clause in Contracts

Closing of Sale. The closing of any purchase and sale of Director Shares pursuant to the exercise of a right under this Section 2 (other than transfers made pursuant to Section 2.1 or sales made through the facilities of any securities exchange pursuant to Sections 2.2 and 5) shall be held at the principal offices of the Corporation on a date designated by the purchaser but in any event not later than the last day upon which a purchase is permitted or required to be made. At the closing, the Director Holder selling Shares shall deliver to the purchaser the stock certificates and other instruments representing such Shares, together with stock powers and other instruments transferring such Shares, duly endorsed for transfer and free and clear of all claims, liens, encumbrances and security interests, and the purchaser shall deliver to the Director Holder the consideration payable upon closing.

Closing of Sale. The closing of any purchase and sale of Director Management Shares pursuant to the exercise of a right under this Section 2 (other than transfers or sales made pursuant to Section Sections 2.1 or sales made 2.2 or through the facilities of any securities exchange pursuant to Sections 2.2 2.3 and 5) shall be held at the principal offices of the Corporation on a date designated by the purchaser but in any event not later than the last day upon which a purchase is permitted or required to be made. At the closing, the Director Management Holder selling Shares shall deliver to the purchaser the stock certificates and other instruments representing such Shares, together with stock powers and other instruments transferring such Shares, duly endorsed for transfer and free and clear of all claims, liens, encumbrances and security interests, and the purchaser shall deliver to the Director Management Holder the consideration payable upon closing.