Common use of Payment and Delivery of Shares Clause in Contracts

Payment and Delivery of Shares. At any closing hereunder, (a) the Optionholder shall pay the aggregate purchase price for the Shares to be purchased, which shall be payable by bank check or by wire transfer to an account designated by Trumx, xxd (b) the Shareholder shall deliver to the Optionholder (i) a certificate or certificates representing the Shares so purchased registered in the name of the Optionholder or his designee or (ii) a certificate or certificates representing the Shares so purchased duly endorsed in blank for transfer or accompanied by appropriate stock powers duly executed in blank. If any of the Shares shall be held by Trumx xx a brokerage account, Trumx xxx deliver to the brokerage firm in which such Shares are held, written notice to transfer record and beneficial ownership of the Shares purchased by the Optionholder to the brokerage account of the Optionholder. The Optionholder shall designate his brokerage account together with the Exercise Notice. The Optionholder shall reasonably cooperate with Trumx xxx shall take reasonable actions requested by Trumx xx effectuate such transfer of ownership. However it shall be solely Trump's obligation to effectuate such transfer of ownership.