Failure to Exercise Options. To the extent that following termination of employment, the Options are not exercised within the applicable periods described above (or the Employment Agreement, if applicable), all further rights to purchase shares pursuant to the Options shall cease and terminate.
Failure to Exercise Options. If Persons with options under this Section shall fail to exercise their options to purchase such Interest or to co-sell with such Interest within the applicable periods, or in the event the purchaser(s) shall fail to tender the required consideration at the dosing referred to below, then the Person with respect to whom the Optional Purchase Event has occurred may transfer the Interest to the Person upon the terms and price specified in the Transfer Notice, but only if such Transfer is consummated within ninety (90) days after the expiration or withdrawal of the last option, or the failure to tender the consideration if applicable; provided, however, that such Transfer shall comply with the other provisions of this Agreement and provided the holder of such transferred Interest shall be a mere assignee and shall not become a Member unless admitted as such pursuant to the terms of the Agreement. If the subject Interest is not so transferred within the applicable period, the Interest shall again become subject to all of the terms and conditions of the Agreement and may not thereafter be transferred except in the manner and on the terms herein provided. In the event the LLC or any Qualified Holder exercises an option hereunder but fails to tender the required consideration at the closing, in addition to being entitled to complete the proposed transaction, the Person with respect to whom the Optional Purchase Event has occurred shall have all rights and remedies against the LLC or the exercising Qualified Holder available for breach of contract.
Failure to Exercise Options. 10 ARTICLE 9.
Failure to Exercise Options. If the Remaining Shareholder and the Corporation fail to exercise the option to purchase the Offered Shares, the Selling Shareholder may sell, encumber or otherwise dispose of the Offered Shares not purchased by the Remaining Shareholder or the Corporation to the prospective Transferee named in the Notice to Sell in strict accordance with the terms therein stated, at a price not less than, and on terms and conditions not more favorable to the Transferee than, are set forth in the Notice to Sell; provided that, if the Transferee is not a public stock exchange, the Transferee shall agree in writing, prior to such transfer, with the Company, the Remaining Shareholder and the Selling Shareholder, as may be applicable, to be bound by all the terms and provisions of this Agreement as though such transferee were an original signatory hereto.
Failure to Exercise Options. The failure of the Principal Stockholder to give any written notice specified in this Section 3.2(c) within the time period specified herein shall be deemed to be a waiver of its rights under this Section 3.2(c).
Failure to Exercise Options. In the event that the Company and/or the --------------------------- Shareholders do not elect to purchase all of the Article 6 Shares prior to the expiration of the Article 6 Option Period, then at any time during the sixty (60) days following the expiration of the Article 6 Option Period, subject to the provisions of Section 4.2 above, the Article 6 Shares not purchased by the Company and the Shareholders (the "Remaining Article 6 Shares") may be Involuntarily Transferred, to the person and in the manner set forth in the Notice of Involuntary Transfer, provided that such person executes a document, in form and substance satisfactory to the Company and its counsel, pursuant to which such person agrees to be bound by the provisions of this Agreement, and thereby agrees to receive and hold all the Remaining Article 6 Shares subject to all of the provisions and restrictions contained herein. If the Remaining Article 6 Shares have not been so Involuntarily Transferred prior to the expiration of such sixty (60) day period, the Remaining Article 6 Shares shall again become subject to all of the provisions of this Agreement and may not thereafter be Transferred except in the manner and on the terms set forth in this Agreement.
Failure to Exercise Options. If the Company and the Shareholders --------------------------- shall fail to exercise their options to purchase all of the Article 8 Shares of the Article 8 Shareholder within the time periods referred to in Sections 8.1 and 8.2 above, then such options shall automatically expire with respect to the Article 8 Shares not so purchased by the Company and the Shareholders ("Remaining Article 8 Shares"); provided, however, that such Remaining Article 8 Shares and the Article 8 Shareholder or the Article 8 Shareholder's Successor shall nevertheless remain subject to the terms and conditions of this Agreement with respect to such Remaining Article 8 Shares, including, without limitation, the provisions of Article 2 hereof, and such Remaining Article 8 Shares may not thereafter be Transferred by the Article 8 Shareholder or the Article 8 Shareholder's Successor without compliance with all of the terms and conditions of this Agreement.
Failure to Exercise Options. If the Company and the Shareholders shall --------------------------- fail to exercise their options to purchase all of the Article 9 Shares within the time periods referred to in Sections 9.1 and 9.2 above, then such options shall automatically expire with respect to the Article 9 Shares not purchased (the "Remaining Article 9 Shares"); provided, however, that such Remaining Article 9 Shares, Singh and the Article 9 Shareholder's Successor shall nevertheless remain subject to all of the terms and conditions of this Agreement, including, without limitation, the provisions of Article 2 hereof.
Failure to Exercise Options. If the Remaining Stockholder and the Company fail to exercise the option to purchase all of the Offered Shares, the Selling Stockholder may sell, encumber or otherwise dispose of the Offered Shares to the prospective Transferee named in the Notice to Sell in strict accordance with the terms therein stated, at a price not less than, and on terms and conditions not more favorable to the Transferee than, are set forth in the Notice to Sell; provided that, if the Transferee shall agree in writing, prior to such transfer, with the Company, the Remaining Stockholder and the Selling Stockholder, as may be applicable, to be bound by all the terms and provisions of this Agreement as though such transferee were an original signatory hereto.
Failure to Exercise Options. I. If Major Chemical and the Shareholders elect not to purchase all the Shares set forth in the transfer Notice, then all those Shares may be transferred subject to the satisfaction of all of the following conditions:
A. Within thirty (30) days after receiving Notice from Major Chemical, the offering Shareholder must Transfer the Shares to the transferee identified in the Transfer Notice at the price and on the same terms stated in the Transfer Notice; and
B. The transferee must execute a document evidencing the transferee’s agreement to be bound by the provisions of this Agreement.
C. If all of these conditions are not satisfied, the offering Shareholder may not Transfer the Shares under section 1.3 without giving a new written notice of intention to transfer and complying with section 1.3.
