Failure to Deliver Shares. If Grantor becomes obligated to sell any Shares to the Company under this Agreement and fails to deliver such Shares in accordance with the terms of this Agreement, the Company may, at its option, in addition to all other remedies it may have, send to the Grantor the purchase price for such Shares as is herein specified. Thereupon, the Company upon written notice to the Grantor, (a) shall cancel on its books the certificate or certificates representing the Shares to be sold and (b) shall issue, in lieu thereof, in the name of the Company a new certificate or certificates representing such Shares, and thereupon all of the Grantor's rights in and to such Shares shall terminate.
Appears in 7 contracts
Samples: Stock Repurchase Agreement (Brightstar Information Technology Group Inc), Stock Repurchase Agreement (Transcoastal Marine Services Inc), Stock Repurchase Agreement (Brightstar Information Technology Group Inc)
