Failure to Deliver Shares to the Company. If a Shareholder becomes obligated to sell any Shares to the Company or to the Other Shareholders under this Agreement (the "Obligated Shareholder") and fails to deliver such Shares in accordance with the terms of this Agreement, the Company or such Other Shareholder may, in addition to all other remedies it may have, tender to the Obligated Shareholder, at the address set forth in the stock transfer records of the Company, the purchase price for such Offered Shares as is herein specified, and (i) in the case of shares to be sold to the Company pursuant to this Agreement, cancel such shares on its books and records whereupon all of the Obligated Shareholder's right, title, and interest in and to such Shares shall terminate, (ii) in the case of Shares to be sold to an Other Shareholder under this Agreement, issue certificates representing such shares to the Other Shareholder and register the Other Shareholder on its Company's books and records as the record owner of the shares whereupon all of the Obligated Shareholder's right, title, and interest in and to such shares shall terminate.
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Samples: Shareholder Agreement (Digital Insight Corp), Series a Redeemable Preferred Stock and Warrant Purchase Agreement (Transeastern Properties Inc), Shareholder Agreement (Nfront Inc)
Failure to Deliver Shares to the Company. If a Shareholder becomes obligated to sell any Shares to the Company or to the Other Shareholders under this Agreement (the "Obligated Shareholder") and fails to deliver such Shares in accordance with the terms of this Agreement, the Company or such Other Shareholder Shareholders (as hereinafter defined) may, in addition to all other remedies it may have, tender to the Obligated Shareholder, at the address set forth in the stock Share transfer records of the Company, the purchase price for such Offered Shares as is herein specified, and (i) in the case of shares Shares to be sold to the Company pursuant to this Agreement, cancel such shares Shares on its books and records whereupon all of the Obligated Shareholder's right, title, title and interest in and to such Shares shall terminate, (ii) in the case of Shares to be sold to an Other Shareholder under this Agreement, issue certificates representing such shares Shares to the Other Shareholder and register the Other Shareholder on its Company's books and records as the record owner of the shares Shares whereupon all of the Obligated Shareholder's right, title, title and interest in and to such shares Shares shall terminate.
Appears in 2 contracts
Samples: Agreement to Purchase (National Boston Medical Inc), Operating Agreement (National Boston Medical Inc)
Failure to Deliver Shares to the Company. If a Shareholder becomes obligated to sell any Shares to the Company or to the Other Shareholders (as hereinafter defined) under this Agreement (hereinafter referred to as the "“Obligated Shareholder"”) and fails to deliver such Shares in accordance with the terms of this Agreement, the Company or such Other Shareholder Shareholders (as hereinafter defined) may, in addition to all other remedies it or they may have, tender to the Obligated Shareholder, at the address set forth in the stock Share transfer records of the Company, the purchase price for such Offered Shares as is herein specified, and (i) in the case of shares Shares to be sold to the Company pursuant to this Agreement, cancel such shares Shares on its books and records whereupon all of the Obligated Shareholder's ’s right, title, and interest in and to such Shares shall terminate, (ii) in the case of Shares to be sold to an Other Shareholder under this Agreement, issue certificates representing such shares Shares to the Other Shareholder and register the Other Shareholder on its Company's ’s books and records as the record owner of the shares Shares whereupon all of the Obligated Shareholder's ’s right, title, and interest in and to such shares Shares shall terminate.
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