Common use of Delivery of Covered Securities to H&Q Representative Clause in Contracts

Delivery of Covered Securities to H&Q Representative. Each of the H&Q Parties hereby agrees that upon execution of the Agreement it will deliver its Covered Securities (to the extent such Covered Securities are certificated), with applicable stock powers duly and validly executed by the H&Q Party), to the H&Q Representative. The H&Q Representative agrees to hold the Covered Securities until the earlier of (i) the sale and disbursement of such portion of the Covered Securities in accordance with the terms of this Agreement and (ii) the expiration of the Third Call Exercise Period (or if there is a Third Put Option Election Notice or Third Call Election Notice, then the closing under the Third Put Option or the Third Call Option, as the case may be). Any Covered Securities held by the H&Q Representative after such time will be delivered to the H&Q Party that is the holder of record of such Covered Securities.