Common use of Delivery of Option Shares Clause in Contracts

Delivery of Option Shares. Within five days after receiving written notice of the exercise of the option set forth herein, Company shall deliver stock certificates representing the Option Shares and any and all other documents which are required to transfer the Option Shares, duly endorsed for transfer, to the purchaser thereof and shall receive the consideration therefor. Failure to Exercise Option. In the event Purchaser does not elect to purchase all of the Option Shares in any given year (1,000 per year), the option granted by this Agreement shall be deemed expired as to such remaining Option Shares and purchaser shall have no further right to purchase said shares pursuant to the terms of this Agreement.

Delivery of Option Shares. Within five days after receiving written notice of the exercise of the option set forth herein, Company shall deliver stock certificates representing the Option Shares and any and all other documents which are required to transfer the Option Shares, duly endorsed for transfer, to the purchaser thereof and shall receive the consideration therefor. Failure to Exercise Option. In the event Purchaser does not elect to purchase all of the Option Shares in any given year (1,000 500 per year), the option granted by this Agreement shall be deemed expired as to such remaining Option Shares and purchaser shall have no further right to purchase said shares pursuant to the terms of this Agreement.

Delivery of Option Shares. Within five days after receiving written notice of the exercise of the option set forth herein, Company shall deliver stock certificates representing the Option Shares and any and all other documents which are required to transfer the Option Shares, duly endorsed for transfer, to the purchaser thereof and shall receive the consideration therefor. Failure to Exercise Option. In the event Purchaser does not elect to purchase all of the Option Shares in any given year (1,000 3,000 per year), the option granted by this Agreement shall be deemed expired as to such remaining Option Shares and purchaser shall have no further right to purchase said shares pursuant to the terms of this Agreement.

Delivery of Option Shares. Within five days after receiving written notice of the exercise of the option set forth herein, Company shall deliver stock certificates representing the Option Shares and any and all other documents which are required to transfer the Option Shares, duly endorsed for transfer, to the purchaser thereof and shall receive the consideration therefor. Failure to Exercise Option. In the event Purchaser does not elect to purchase all of the Option Shares in any given year (1,000 2,000 per year), the option granted by this Agreement shall I be deemed expired as to such remaining Option Shares and purchaser shall have no further right to purchase said shares pursuant to the terms of this Agreement.