Common use of Delivery of the Shares at the Closing Clause in Contracts

Delivery of the Shares at the Closing. The purchase and sale of the Shares under this Agreement shall occur at the principal office of the Company simultaneously with the execution of this Agreement by the parties or on such other date as the Company and Purchaser shall agree (the “Purchase Date”). On the Purchase Date, the Company will deliver to Purchaser a certificate representing the Shares to be purchased by Purchaser (which shall be issued in Purchaser’s name) against payment of the purchase price therefor by Purchaser by a combination of (a) check made payable to the Company in the amount of $142,500 and (b) cancellation of indebtedness of the Company to Purchaser in the amount of $70,000.