Common use of Payment of Purchase Price and Delivery of Certificates for Optioned Shares Clause in Contracts

Payment of Purchase Price and Delivery of Certificates for Optioned Shares. At any closing of the Common Share Option, (i) Sub will make payment to the Company of the full purchase price for the Optioned Common Shares in New York Clearing House funds by certified or official bank check payable to the order of the Company, in an amount equal to the product of the Per Common Share Price multiplied by the number of Optioned Common Shares being purchased at such closing and (ii) the Company will deliver to Sub a duly executed certificate or certificates representing the number of Optioned Common Shares so purchased, registered in the name of Sub or its nominee in the denomination designated by Sub in its notice of exercise.