Common use of Payment for and Delivery of Certificates Clause in Contracts

Payment for and Delivery of Certificates. At the Option Closing, (i) Parent (or its designee) shall pay, by check, an amount equal to the product of (x) the Option Price and (y) the number of Shares owned by each Stockholder; and (ii) each Stockholder shall deliver or shall cause to be delivered to Parent a certificate or certificates evidencing each Stockholder's Shares, and each Stockholder agrees that such Shares shall be transferred free and clear of all liens. All such certificates representing Shares shall be duly endorsed in blank, or with appropriate stock powers, duly executed in blank, attached thereto, in proper form for transfer, with the signature of each Stockholder thereon guaranteed, and with all applicable taxes paid or provided for.