Common use of Deliveries at Restructure Closing Clause in Contracts

Deliveries at Restructure Closing. At the Restructure Closing, Accentia shall deliver to McKesson: (a) $4,200,000 in Cash and (b) duly executed Restructure Note in form satisfactory to McKesson and its legal counsel. At the Restructure Closing, upon receipt of delivery of the items to be delivered by Accentia to McKesson as set forth in the prior sentence, McKesson shall deliver to Accentia: (a) original stock certificates to 4,289,000 shares of Series E Convertible Preferred Stock (or any Accentia Common Stock issued upon conversion of the Accentia Series E Convertible Preferred stock) held of record by McKesson together with duly executed assignments to Accentia and an assignment of any accrued but unpaid dividends on said shares of Series E Preferred stock; and (b) duly executed written termination of the Biologics Distribution Agreement, including a written waiver of all of McKesson’s rights in and to the non-interest bearing deposit of $3,000,000 paid by McKesson under the Biologics Distribution Agreement, each in form satisfactory to Accentia and its legal counsel.