Common use of PAYMENT AND REDELIVERY OF OPTION GRANTOR OPTIONS OR SHARES Clause in Contracts

PAYMENT AND REDELIVERY OF OPTION GRANTOR OPTIONS OR SHARES. In the event OPTION HOLDER exercises its rights under this Section 8, OPTION GRANTOR shall, within ten business days thereafter, pay the required amount to OPTION HOLDER in immediately available funds and OPTION HOLDER shall surrender to OPTION GRANTOR the OPTION GRANTOR Option or the certificate or certificates evidencing the OPTION GRANTOR Shares purchased by OPTION HOLDER pursuant hereto, and OPTION HOLDER shall warrant that it owns the OPTION GRANTOR Option or such shares and that the OPTION GRANTOR Option or such shares are then free and clear of all liens, claims, damages, charges and encumbrances of any kind or nature whatsoever.

PAYMENT AND REDELIVERY OF OPTION GRANTOR OPTIONS OR SHARES. In the event OPTION HOLDER exercises its rights under this Section 8, OPTION GRANTOR shall, within ten business days thereafter, pay the required amount to OPTION HOLDER in immediately available funds and OPTION HOLDER shall surrender to OPTION GRANTOR the OPTION GRANTOR Option or the certificate or certificates evidencing the OPTION GRANTOR Shares purchased by OPTION HOLDER pursuant hereto, and OPTION HOLDER shall warrant that it owns the OPTION GRANTOR Option or such 'shares and that the OPTION GRANTOR Option or such shares are then free and clear of all liens, claims, damages, charges and encumbrances encum brances of any kind or nature whatsoever.