Common use of Issuance or Delivery of Shares Clause in Contracts

Issuance or Delivery of Shares. Subject to the terms of this Agreement and any deferral election made by the Holder pursuant to Section 5, as soon as practicable (but no later than thirty (30) days) after the vesting of the Award, the Company shall issue or deliver, subject to the conditions of this Agreement, the vested shares of Stock to the Holder. Such issuance or delivery shall be evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company. The Company shall pay all original issue or transfer taxes and all fees and expenses incident to such issuance or delivery. Prior to the issuance to the Holder of the shares of Stock subject to the Award, the Holder shall have no direct or secured claim in any specific assets of the Company or in such shares of Stock, and will have the status of a general unsecured creditor of the Company.

Issuance or Delivery of Shares. Subject to the terms of this Agreement and any deferral election made by the Holder pursuant to Section 5, as soon as practicable (but no later than thirty (30) days) after the vesting of the AwardAward (but not later than March 15th of the year following the year of grant), the Company shall issue or deliver, subject to the conditions of this Agreement, the vested shares of Stock to the Holder. Such issuance or delivery shall be evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company. The Company shall pay all original issue or transfer taxes and all fees and expenses incident to such issuance or delivery. Prior to the issuance to the Holder of the shares of Stock subject to the Award, the Holder shall have no direct or secured claim in any specific assets of the Company or in such shares of Stock, and will have the status of a general unsecured creditor of the Company.