Common use of Receipt and Delivery of Stock Clause in Contracts

Receipt and Delivery of Stock. The Grantee waives receipt from the Company of a certificate or certificates representing the shares of Common Stock granted hereunder, registered in the Grantee’s name and bearing a legend evidencing the restrictions imposed on such shares of Common Stock by this Agreement. The Grantee acknowledges and agrees that the Company shall retain custody of such certificate or certificates until the restrictions imposed by Section 3 of this Agreement on the shares of Common Stock granted hereunder lapse. The Grantee acknowledges and agrees that, alternatively, the shares of Common Stock granted hereunder may be maintained in book-entry form with instructions from the Company to the Company’s transfer agent that such shares shall remain restricted until the restrictions imposed by Section 3 of this Agreement on such shares lapse.

Receipt and Delivery of Stock. The Grantee waives receipt from the Company of a certificate or certificates representing the shares of Common Stock granted hereunder, registered in the Grantee’s 's name and bearing a legend evidencing the restrictions imposed on such shares of Common Stock by this Agreement. The Grantee acknowledges and agrees that the Company shall retain custody of such certificate or certificates until the restrictions imposed by Section 3 of this Agreement on the shares of Common Stock granted hereunder lapse. The Grantee acknowledges and agrees that, alternatively, the shares of Common Stock granted hereunder may be maintained in book-entry form with instructions from the Company to the Company’s 's transfer agent that such shares shall remain restricted until the restrictions imposed by Section 3 of this Agreement on such shares lapse.