Failure to Complete Transfer Sample Clauses
Failure to Complete Transfer. If the final terms and conditions for the Transfer under Section 10.02(c)(v) above have changed in any material respect in relation to those originally contained in the Sale Notice, or if at the end of the one hundred and twenty (120)-day period referred to in such Section, the Selling Member has not Transferred its Membership Units, but still intends to do so, then the procedures described above shall be resumed and repeated.
Failure to Complete Transfer lf any Defaulting Shareholder fails or refuses to Transfer any Shares in accordance with this clause 11, the buyer may serve a further default notice. On and with effect from the date that is 5 Business Days after service of the further default notice, unless the default has been fully remedied by that time:
(a) the Defaulting Shareholder’s rights and entitlements and those attaching to its Shares, are immediately suspended;
(b) where a Shareholder Group is in default as a result of joint and several liability or common breach:
(i) that Shareholder Group must procure that any Director appointed by the defaulting Shareholder Group resigns immediately; and
(ii) any Director appointment rights of the Shareholder Group are suspended; but
(iii) the Shareholder Group’s obligations under this agreement continue to apply during the period of any suspension under this clause 11.6.
Failure to Complete Transfer. If any Defaulting Shareholder fails or refuses to transfer any Shares in accordance with this Clause 8, the non-defaulting Shareholder may serve a further default notice. Within 5 Business Days of service of the further default notice, the Defaulting Shareholder shall not exercise any of its powers or rights in relation to management of, and participation in the profits of, the Company under this Agreement, the Articles or otherwise. The Directors appointed by the Defaulting Shareholder (or its predecessor in title) shall not:
8.6.1 be entitled to vote at any Board meeting;
8.6.2 be required to attend any meeting of Directors in order to constitute a quorum; or
8.6.3 be entitled to receive or request any information from the Company.