Common use of Failure to Deliver Stock Clause in Contracts

Failure to Deliver Stock. If the Shareholder (or any ------------------------ personal representative or other representative of the Shareholder) who has become obligated to sell Stock of the Corporation hereunder shall fail to deliver such Stock on the terms and in accordance with this Agreement, the Corporation, in addition to all other remedies it may have, may send to the such obligated party by registered mail, return receipt requested, the purchase price for such Stock on the terms provided for in this Agreement. Thereupon, the Corporation, upon written notice to the Shareholder, shall cancel on its books the certificates representing the Stock to be sold; and thereupon, all of the obligated Shareholder's rights in and to such Stock shall terminate.

Failure to Deliver Stock. If the a Shareholder (or any personal ------------------------ personal representative or other representative of the a Shareholder) who has become obligated to sell Shareholder Stock of the Corporation hereunder shall fail to deliver such Shareholder Stock on the terms and in accordance with this Agreement, the Corporation, in addition to all other remedies it may have, may send to the such obligated party by registered mail, return receipt requested, the purchase price for such Stock on the terms provided for in this Agreement. Thereupon, the Corporation, upon written notice to the such Shareholder, shall cancel on its books the certificates representing the Stock to be sold; and thereupon, all of the obligated Shareholder's rights in and to such Shareholder Stock shall terminate.

Failure to Deliver Stock. If the Shareholder (or the Shareholder's estate or any ------------------------ personal representative or other representative of the ShareholderShareholder or holder of Shareholder Stock) who has become obligated to sell shares of Shareholder Stock of to the Corporation Company hereunder shall fail to deliver such Stock shares on the terms and in accordance with this Agreement, the CorporationCompany, in addition to all other remedies it may have, may send to the such obligated party by registered mail, return receipt requested, the purchase price for such Stock shares on the terms provided for in this Agreement. Thereupon, the CorporationCompany, upon written notice to the Shareholdersuch holder, shall cancel on its books the certificates representing the Shareholder Stock to be sold; and thereupon, all of the such obligated Shareholderholder's rights in and to such Shareholder Stock shall terminate.