Payment and Delivery Clause Example from Business Contracts

Payment and Delivery. Payment of the purchase price for the Shares shall be made by the Underwriter to each Selling Stockholder by Federal Funds wire transfer to an account specified thereby, against book-entry delivery of the Shares to you through the facilities of The Depository Trust Company ("DTC") for the account of the Underwriter. Such payment and delivery shall be made at 10:00 A.M., New York City time, on December 3, 2018 (unless another time shall be agreed to by you and the Selling Stockholders). The time ...at which such payment and delivery are to be made is hereinafter sometimes called the "time of purchase." Electronic transfer of the Shares shall be made to you at the time of purchase in such names and in such denominations as you shall specify. In addition, subject to the sale of the Shares by the Selling Stockholders to the Underwriter in compliance with the terms of this Agreement, payment of the purchase price for the Repurchased Shares shall be made at the time of purchase by Holdings to the Underwriter by Federal Funds wire transfer to an account specified by the Underwriter, against book-entry delivery of the Repurchased Shares to Holdings through the facilities of DTC for the account of Holdings or such other means of delivery as may be agreed to by Holdings and the Underwriter. -3- Deliveries of the documents described in Section 9 hereof with respect to the purchase of the Shares shall be made at the offices of Cahill Gordon & Reindel llp at 80 Pine Street, New York, New York 10005, at 9:00 A.M., New York City time, on the date of the closing of the purchase of the Shares. View More