Common use of COMPANY'S PAYMENT AND DELIVERY OF SHARES Clause in Contracts

COMPANY'S PAYMENT AND DELIVERY OF SHARES. (a) Company shall pay Buyer for the Shares by offsetting the amount owed to Buyer pursuant to the exercise of Company's Call against the outstanding principal balance, plus accrued interest of the Note in exchange for the delivery to Company of a stock certificate representing the total number of Shares being called and purchased, duly endorsed in blank by Buyer or having attached thereto a stock power duly executed by Buyer in proper form for transfer. (b) In the event that any payment to be made by Company is prohibited by applicable provisions of corporate law or by any other applicable law, then such payment shall be immediately made by Company at the next earliest time, and to the extent possible, when compliance with said law may be effected, and Company agrees it will execute all such documents and take all such other steps as may be necessary to expedite and effectuate to the extent possible such compliance.

COMPANY'S PAYMENT AND DELIVERY OF SHARES. (a) a. Company shall pay Buyer for the Shares by offsetting the amount owed to Buyer pursuant to the exercise of Company's Call against the outstanding principal balance, plus accrued interest of the Note in exchange for the delivery to Company of a stock certificate representing the total number of Shares being called and purchased, duly endorsed in blank by Buyer or having attached thereto a stock power duly executed by Buyer in proper form for transfer. (b) b. In the event that any payment to be made by Company is prohibited by applicable provisions of corporate law or by any other applicable law, then such payment shall be immediately made by Company at the next earliest time, and to the extent possible, when compliance with said law may be effected, and Company agrees it will execute all such documents and take all such other steps as may be necessary to expedite and effectuate to the extent possible such compliance.