Action by Buyer. Subject to the terms and conditions herein contained, on the Closing Date, Buyer and Candie's shall deliver to the Selling Shareholders (in addition to the documents and instruments to be delivered by it pursuant to paragraph 4 hereof), in payment of the Purchase Price for the Company Shares (subject to delivery of the Pledged Candie's Shares to the Escrow Holder as provided in section 2.3), stock certificates, representing in the aggregate the Initial Candie's Shares, registered in the name of each of the Selling Shareholders, which certificates shall be issued to each Selling Shareholder pro rata in accordance with their respective share ownership of the Company as of the Closing Date.
Appears in 2 contracts
Sources: Stock Purchase Agreement (Candies Inc), Stock Purchase Agreement (Caruso Michael)