Common use of Delivery of Shares and Options Clause in Contracts

Delivery of Shares and Options. In connection with the purchase and sale of the Shares and Options, Seller hereby agrees and directs NL, and NL hereby agrees, that no certificates evidencing Shares acquired upon exercise of options shall be delivered to Seller, and NL shall not be required to issue any such Shares to Seller. Seller agrees that, promptly after execution of this Agreement, the Options shall be cancelled.