Payment and Delivery Clause Example from Business Contracts

Payment and Delivery. Payment of the purchase price for the Firm Units (including the Deferred Discount) and the Additional Units (if the Over-Allotment Option has been exercised on or before the second business day prior to the time of purchase) shall be made to the Company by federal funds wire transfer against delivery of the certificates for the Firm Units to the Representative through the facilities of The Depository Trust Company (the "DTC") for the respective accounts of the Underwriters. Such payment and deli...very shall be made at 10:00 A.M., New York City time, on [•], 2021 (unless another time shall be agreed to by the Representative and the Company or unless postponed in accordance with the provisions of Section 8 hereof). The time at which such payment and delivery are to be made is hereinafter sometimes called the "time of purchase." Electronic transfer of the Firm Units and the Additional Units, if any, shall be made to the Representative at the time of purchase in such names and in such denominations as the Representative shall specify. Payment of the purchase price for the Additional Units (including the Deferred Discount) shall be made at the additional time of purchase in the same manner and at the same office and time of day as the payment for the Firm Units. Electronic transfer of the Additional Units shall be made to the Representative at the additional time of purchase in such names and in such denominations as the Representative shall specify. Deliveries of the documents described in Section 6 hereof with respect to the purchase of the Units shall be made at the offices of Ellenoff Grossman & Schole LLP at 1345 Avenue of the Americas, 11th Floor, New York, New York 10105, at 9:00 A.M., New York City time, on the date of the closing of the purchase of the Firm Units or the Additional Units, as the case may be. View More