Common use of Closing of Purchase; Payment of Purchase Price Clause in Contracts

Closing of Purchase; Payment of Purchase Price. The closing of a ---------------------------------------------- purchase pursuant to this Section 6 shall take place at the principal office of the Company on the tenth business day following whichever of the following is applicable: (i) the receipt by the Employee (or his estate) of the notice of the - Company or the Fund, as the case may be, of its exercise of its option to purchase any of the Covered Securities pursuant to Section 6(a) or (ii) the -- Board's determination (which shall be delivered to the Employee) that the Company is authorized to purchase a stated number of Shares as a result of Unforeseen Personal Hardship pursuant to Section 6(b). At the closing, (i) the - Company or the Fund, as the case may be, shall pay to the Employee (or his estate) an amount equal to the Purchase Price and (ii) the Employee (or his -- estate) shall deliver to the Company or the Fund, as applicable, such certificates or other instruments representing the Covered Securities so purchased, appropriately endorsed by the Employee (or his estate), as the Company or the Fund, as applicable, may reasonably require.

Closing of Purchase; Payment of Purchase Price. The Subject to Section 11, the closing of a ---------------------------------------------- purchase pursuant to this Section 6 shall take place at the principal office of the Company on the tenth business day following whichever of the following is applicable: (i) the receipt by the Employee Purchaser (or his estate) of the notice of the - Company C&D Fund or the FundCompany, as the case may be, of its exercise of its option to purchase any of the Covered Securities pursuant to Section 6(a) or (ii) the -- Company's receipt of notice by the Purchaser (or his estate) to sell Shares pursuant to Section 6(a) or (iii) the Board's determination (which shall be delivered to the EmployeePurchaser) that the Company is authorized to purchase a stated number of Shares as a result of Unforeseen Personal Hardship pursuant to Section 6(b). At the closing, (i) subject to the - proviso below, the Company or the Fund, as the case may be, shall pay to the Employee Purchaser (or his estate) an amount equal to the Purchase Price and (ii) the Employee Purchaser (or his -- estate) shall deliver to the Company or the Fund, as applicable, such certificates or other instruments representing the Covered Securities Shares so purchased, appropriately endorsed by the Employee Purchaser (or his estate), as the Company or the Fund, as applicable, may reasonably require.; provided, however, that if the Determination Date occurs during the

Closing of Purchase; Payment of Purchase Price. The Subject to Section 6(f), the closing of a ---------------------------------------------- purchase pursuant to this Section 6 shall take place at the principal office of the Company on no later than the tenth business 100th day following whichever of the following is applicable: Determination Date (i) the receipt by the Employee (or his estate) of the notice of the - Company or the Fundor, as in the case may be, of its exercise of its option to a purchase any of the Covered Securities pursuant to Section 6(a) or (ii) the -- Board's determination (which shall be delivered to the Employee) that the Company is authorized to purchase a stated number of Shares as a result of Unforeseen Personal Hardship pursuant to Section 6(b), no later than 10 business days following the Company’s receipt of written notice from the Employee pursuant to Section 6(b)). At the closing, (i) the - Company or shall, subject to Section 6(e), pay the Fund, as the case may be, shall pay Purchase Price to the Employee (or his estate) an amount equal to the Purchase Price and (ii) if the Employee (or his -- estate) shall deliver to the Company or the Fund, as applicable, such actually holds any certificates or other instruments representing the Covered Securities Shares so purchased, the Employee shall deliver to the Company such certificates or other instruments, appropriately endorsed by the Employee (or his estate)directing that the shares be so transferred to the purchaser thereof, as the Company or the Fund, as applicable, may reasonably require.. (e) Application of the Purchase Price to Certain Loans or Other Obligations. The Company shall be entitled to apply any amounts otherwise payable pursuant to this Section 6 to discharge any indebtedness of the Employee to the Company or any of its Subsidiaries or indebtedness that is guaranteed by the Company or any of its Subsidiaries or to offset any such amounts against any other obligations of the Employee to the Company or any of its Subsidiaries. (f)