Common use of Mechanics of Exercise of Purchase Option Clause in Contracts

Mechanics of Exercise of Purchase Option. Within 10 days after his receipt of the Company’s notice of the exercise of the Purchase Option pursuant to Section 3(a) above, the Stockholder (or his estate) shall tender to the Company at its principal offices the certificate or certificates representing the Shares which the Company has elected to purchase in accordance with the terms of this Agreement, duly endorsed in blank or with duly endorsed stock powers attached thereto, all in form suitable for the transfer of such Shares to the Company. Upon its receipt of such certificate or certificates, the Company shall deliver or mail to the Stockholder a check in the amount of the aggregate Option Price therefor.

Mechanics of Exercise of Purchase Option. Within 10 days after his receipt of the Company’s notice of the exercise of the Purchase Option pursuant to Section 3(a) above, the Stockholder (or his estate) shall tender to the Company at its principal offices the certificate or certificates representing the Shares which the Company has elected to purchase in accordance with the terms of this Agreement, duly endorsed in blank or with duly endorsed stock powers attached thereto, all in form suitable for the transfer of such Shares to the Company. Upon its receipt of such certificate or certificates, the Company shall deliver or mail to the Stockholder stockholder a check in the amount of the aggregate Option Price therefor.