Common use of Failure to Deliver Shares Clause in Contracts

Failure to Deliver Shares. If the Stockholder 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 Stockholder the purchase price for such Shares as is herein specified. Thereupon, the Company upon written notice to the Stockholder, (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 Stockholder's rights in and to such Shares shall terminate.

Failure to Deliver Shares. If the Stockholder becomes obligated to sell any Shares to the Company an Investor under this Agreement and fails to deliver such Shares in accordance with the terms of this Agreement, the Company, such Investor may, at its option, in addition to all other remedies it may have, send to the Stockholder the purchase price for such Shares as is herein specified. Thereupon, the Company upon written notice to the Stockholder, (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 such Investor a new certificate or certificates representing such Shares, and thereupon all of the Stockholder's rights in and to such Shares shall terminate.

Failure to Deliver Shares. If the a Stockholder becomes obligated to sell 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, Company may, at its option, in addition to all other remedies it may have, send to the Stockholder the purchase price for such Shares as is herein specified. Thereupon, the Company upon written notice to the Stockholder, (a) shall cancel on its books the certificate or certificates representing the Shares to be sold Sold and (b) shall issue, in lieu thereof, in the name of the Company Company, a new certificate or certificates representing such Shares, and thereupon all of the Stockholder's rights in and to such Shares shall terminate.

Failure to Deliver Shares. If the Stockholder any Investor becomes obligated to sell any Shares to the Company another Investor under this Agreement and fails to deliver such Shares in accordance with the terms of this Agreement, the Company, such other Investor may, at its option, in addition to all other remedies it may have, send to the Stockholder defaulting Investor the purchase price for such Shares as is herein specified. Thereupon, the Company Company, upon written notice to the Stockholder, defaulting Investor shall (a) shall cancel on its books the certificate or certificates representing the Shares to be sold sold, and (b) shall issue, in lieu thereof, in the name of the Company such other Investor, a new certificate or certificates representing such Shares, and thereupon all of the Stockholder's defaulting Investor’s rights in and to such Shares shall terminate.

Failure to Deliver Shares. If the Stockholder 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, Company may, at its option, in addition to all other remedies it may have, send to the Stockholder the purchase price for such Shares as is herein specified. Thereupon, the Company upon written notice to the Stockholder, (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 Stockholder's rights in and to such Shares shall terminate.

Failure to Deliver Shares. If the Stockholder 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 Stockholder the purchase price for such sum Shares as is herein specified. Thereupon, the Company upon written notice to the Stockholder, (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 Stockholder's rights in and to such Shares shall terminate.

Failure to Deliver Shares. If the Stockholder a Shareholder becomes obligated to sell any Shares stock to the Company an Investor under this Agreement and fails to deliver such Shares stock in accordance with the terms of this Agreement, the Company, such Investor may, at its option, in addition to all other remedies it may have, send to the Stockholder Shareholder the purchase price for such Shares stock as is herein specified. Thereupon, the Company upon written notice to the StockholderShareholder, (a) shall cancel on its books the certificate or certificates representing the Shares stock to be sold and (b) shall issue, in lieu thereof, in the name of such Investor or the Company Company, as the case may be, a new certificate or certificates representing such Sharesstock, and thereupon all of the StockholderShareholder's rights in and to such Shares stock shall terminate.