Failure to Effect Transfer Clause Samples
The 'Failure to Effect Transfer' clause defines the consequences and procedures that apply if a party does not successfully complete a required transfer of assets, rights, or obligations as stipulated in an agreement. Typically, this clause outlines the steps the non-defaulting party may take, such as enforcing the transfer through legal means, seeking compensation, or arranging for a substitute transfer. Its core practical function is to ensure that the intended transfer occurs or that the affected party is adequately protected, thereby addressing the risk of non-performance and maintaining the integrity of the contractual arrangement.
Failure to Effect Transfer. In the event that any Stockholder elects to exercise its rights of inclusion under this Section 2.4 as a Participating Stockholder, and if, within 90 days after GKH's delivery of the copy of the Bona Fide Purchaser's offer pursuant to Section 2.4(b), GKH has not completed the Disposition of its Stock and that of the Participating Stockholders in accordance herewith, GKH shall return to each Participating Stockholder the documents and instruments which such Participating Stockholder delivered for Disposition pursuant to this Section 2.4. Upon the Participating Stockholders' receipt of such documents and instruments, all the restrictions on Disposition contained in this Agreement with respect to the Stock owned by the Stockholders shall again be in effect.
Failure to Effect Transfer. If, within 90 days after GKH's delivery of the notice required pursuant to Section 2.3(b), GKH shall not have completed the Disposition of its Stock and that of the Non-GKH Holders in accordance herewith, GKH shall return to the Non-GKH Holders the documents and instruments which the Non-GKH Holders shall have delivered pursuant to this Section 2.
Failure to Effect Transfer. If, within 120 days after GKH's delivery of the notice required pursuant to Section 3.1(b), GKH has not completed the Disposition of its Common Stock and that of the Minority Stockholders in accordance herewith, GKH shall return to each of the Minority Stockholders (i) the stock certificates and assignments of certificates with respect to such Minority Stockholder's Common Stock which such Minority Stockholder delivered pursuant to this Section 3.1 and (ii) the related limited power-of-attorney. Upon the Minority Stockholders' receipt of such materials, all of the restrictions on Disposition contained in this Agreement with respect to the Common Stock owned by the Stockholders shall again be in effect.
Failure to Effect Transfer. If, within 90 days after GKH's delivery of the notice required pursuant to Section 2.3(b), GKH has not completed the Disposition of its Stock and that of the Non-GKH Holders in accordance herewith, GKH shall return to the Non-GKH Holders (i) the assignments with respect to the Non-GKH Holders' Stock which the Non-GKH Holders delivered pursuant to this Section 2.3 and (ii) the related limited power-of-attorney. Upon the Non-GKH Holder's receipt of such materials, all the restrictions on Disposition contained in this Agreement with respect to the Stock owned by the Stockholders shall again be in effect.
Failure to Effect Transfer. If, within 120 days after GKH's delivery of the notice required pursuant to Section 3.3(b), GKH has not completed the Disposition of its Common Stock and that of the Minority Stockholders in accordance herewith, GKH shall return to each of the Minority Stockholders (i) the stock certificates and assignments of certificates with respect to such Minority Stockholder's Common Stock which such Minority Stockholder delivered pursuant to this Section 3.3 and (ii) the related limited power-of-attorney. Upon the Minority
Failure to Effect Transfer. In the event that any Stockholder elects to exercise its rights of inclusion under this Section 2.2 as a Participating Stockholder, if, within 90 days after GKH's delivery of the copy of the Bona Fide Purchaser's offer pursuant to Section 2.2(b), GKH has not completed the Disposition of its Stock and that of the Participating Stockholders in accordance herewith, GKH shall return to each Participating Stockholder (i) the assignments with respect to each Participating Stockholder's Stock which each Participating Stockholder delivered for Disposition pursuant to this Section 2.2 and (ii) the related limited power-of-attorney. Upon the Participating Stockholders' receipt of such materials, all the restrictions on Disposition contained in this Agreement with respect to the Stock owned by the Stockholders shall again be in effect.