Common use of Per Share Put Price Clause in Contracts

Per Share Put Price. The Stockholder may exercise the Put Option at any time during the Put Period by giving written notice of such exercise to Arena, specifying the number of Shares with respect to which the Put Option is being exercised (the "Put Shares"). In the event the Stockholder exercises the Put Option, Arena shall be obligated to purchase the Put Shares from the Stockholder for the Per Share Put Price. The closing of the purchase and sale of the Put Shares shall be held at Arena's principal office within thirty (30) days following the date of the written notice exercising the Put Option. At closing, Arena shall deliver to the Stockholder the amount of the purchase price for the Put Shares in immediately available funds, and the Stockholder shall deliver to Arena the stock certificate(s) representing the Put Shares, properly endorsed for transfer to Arena.

Per Share Put Price. The Stockholder may exercise the Put Option at any time during the Put Period by giving written notice of such exercise to Arena, specifying the number of Shares with respect to which the Put Option is being exercised (the "“Put Shares"”). In the event the Stockholder exercises the Put Option, Arena shall be obligated to purchase the Put Shares from the Stockholder for the Per Share Put Price. The closing of the purchase and sale of the Put Shares shall be held at Arena's ’s principal office within thirty (30) days following the date of the written notice exercising the Put Option. At closing, Arena shall deliver to the Stockholder the amount of the purchase price for the Put Shares in immediately available funds, and the Stockholder shall deliver to Arena the stock certificate(s) representing the Put Shares, properly endorsed for transfer to Arena.