Common use of Forfeiture and Surrender Clause in Contracts

Forfeiture and Surrender. (a) If any shareholder fails to pay an amount payable by virtue of a call, or interest thereon as provided for in accordance with these Articles, on or before the day fixed for payment of the same, the Board of Directors may at any time after the day fixed for such payment, so long as such amount or any portion thereof remains unpaid, forfeit all or any of the shares in respect of which such payment was called for. All expenses incurred by the Company in attempting to collect any such amount or interest thereon, including, without limitation, attorneys’ fees and costs of legal proceedings, shall be added to, and shall for all purposes (including the accrual of interest thereon) constitute a part of the amount payable to the Company in respect of such call.

Forfeiture and Surrender. (a) If any shareholder Shareholder fails to pay an amount payable by virtue of a call, installment or interest thereon as provided for in accordance with these Articlesherewith, on or before the day fixed for payment of the same, the Board of Directors may at any time after the day fixed for such payment, so long as such amount (or any portion thereof thereof) or interest thereon (or any portion thereof) remains unpaid, forfeit all or any of the shares Shares in respect of which such payment was called for. All expenses incurred by the Company in attempting to collect any such amount or interest thereon, including, without limitation, including attorneys’ fees and costs of legal proceedings, shall be added to, and shall shall, for all purposes (including the accrual of interest thereon) constitute a part of of, the amount payable to the Company in respect of such call.

Forfeiture and Surrender. (a) 16.1 If any shareholder Shareholder fails to pay an any amount payable by virtue in respect of a call, or interest thereon as provided for in accordance with these Articlesherein, on or before the day fixed for payment of the same, the Company, by resolution of the Board of Directors Directors, may at any time after the day fixed for such paymentthereafter, so long as such the said amount or any portion thereof interest remains unpaid, forfeit all or any of the shares in respect of which such payment was called forsaid call had been made. All expenses Any expense incurred by the Company in attempting to collect any such amount or interest thereoninterest, including, without limitationinter alia, attorneys’ fees and costs of legal proceedingssuit, shall be added to, and shall shall, for all purposes (including the accrual of interest thereon) ), constitute a part of the amount payable to the Company in respect of such call.

Forfeiture and Surrender. (a) If any shareholder Shareholder fails to pay an amount payable by virtue of a call, or interest thereon as provided for in accordance with these Articles, on or before the day fixed for payment of the same, the Board of Directors may at any time after the day fixed for such payment, so long as such amount or any portion thereof remains unpaid, forfeit all or any of the shares in respect of which such payment was called for. All expenses incurred by the Company in attempting to collect any such amount or interest thereon, including, including without limitation, limitation attorneys’ ' fees and costs of legal proceedings, shall be added to, and shall for all purposes (including the accrual of interest thereon) constitute a part of the amount payable to the Company in respect of such call.

Forfeiture and Surrender. (a) If any shareholder Shareholder fails to pay an amount payable by virtue of a call, installment or interest thereon as provided for in accordance with these Articlesherewith, on or before the day fixed for payment of the same, the Board of Directors may at any time after the day fixed for such payment, so long as such amount (or any portion thereof thereof) or interest thereon (or any portion thereof) remains unpaid, forfeit all or any of the shares in respect of which such payment was called for. All expenses incurred by the Company in attempting to collect any such amount or interest thereon, including, without limitation, attorneys’ fees and costs of legal proceedings, shall be added to, and shall shall, for all purposes (including the accrual of interest thereon) constitute a part of of, the amount payable to the Company in respect of such call.

Forfeiture and Surrender. (a) If any shareholder member fails to pay an any amount payable by virtue in respect of a call, or interest thereon as provided for in accordance with these Articlesherein, on or before the day fixed for payment of the same, the Company, by resolution of the Board of Directors Directors, may at any time after the day fixed for such paymentthereafter, so long as such the said amount or any portion thereof interest remains unpaid, forfeit all or any of the shares in respect of which such payment was called forsaid call had been made. All expenses Any expense incurred by the Company in attempting to collect any such amount or interest thereoninterest, including, without limitationinter alia, attorneys’ ' fees and costs of legal proceedingssuit, shall be added to, and shall shall, for all purposes (including the accrual of interest thereon) ), constitute a part of the amount payable to the Company in respect of such call.

Forfeiture and Surrender. (a) If any shareholder fails to pay an amount payable by virtue of a call, installment or interest thereon as provided for in accordance with these Articlesherewith, on or before the day fixed for payment of the same, the Board of Directors may at any time after the day fixed for such payment, so long as such amount (or any portion thereof thereof) or interest thereon (or any portion thereof) remains unpaid, forfeit all or any of the shares in respect of which such payment was called for. All expenses incurred by the Company in attempting to collect any such amount or interest thereon, including, without limitation, attorneys’ fees and costs of legal proceedings, shall be added to, and shall shall, for all purposes (including the accrual of interest thereon) constitute a part of of, the amount payable to the Company in respect of such call.