A letter from the custodian for the selling stockholders that authorizes the transfer agent and registrar to issue one or more stock certificates corresponding to the stock that has been sold in the offering and to deliver the stock certificate(s) to the underwriters who have purchased the stock in the offering and re-sold it to investors. Typically, investors in the offering do not receive physical stock certificates but instead hold their stock electronically through the book-entry system of the Depository Trust Company. This Standard Document has integrated notes with important explanations and drafting tips.