Non-Completion by Vendor Sample Clauses

Non-Completion by Vendor. If, at the time of closing, the Vendor fails to complete the Sale Transaction, the Purchaser shall have the right, if not in default under this Agreement, without prejudice to any other rights which the Purchaser may have, make payment of the purchase price payable to the Vendor at the time of closing by depositing such amount to the credit of the Vendor in any branch of the Corporation's bankers. Such deposit shall constitute valid and effective payment of such amount to the Vendor irrespective of any action the Vendor may have taken to transfer or grant of Lien on the Purchased Shares. If the purchase price has been so paid, then from and after the date of deposit, the Sale Transaction shall be deemed to have been fully completed and all right, title, benefit and interest, both at law and in equity and to the Purchased Shares shall conclusively be deemed to have been transferred to and become vested in the Purchaser and all right, title, benefit, and interest, both at law and in equity, in and to the Purchased Shares of the Vendor or of any transferee or assignee of the Vendor shall cease and determine. The Purchaser shall also have the right to execute and deliver, on behalf of and in the name of the Vendor, such deeds, transfers, share certificates, resignations, and other documents that may be necessary to complete the Sale Transaction and each Shareholder, to the extent it may be a Vendor irrevocably appoints any Shareholder who becomes a Purchaser in a Sale Transaction its attorney in that behalf in accordance with the Powers of Attorney Act (Ontario), with no restriction or limitation in that regard and declaring that this power of attorney may be exercised during any subsequent legal incapacity on its part.

Non-Completion by Vendor. (1) In addition to and without limiting any remedy that may be available at Law to the Purchaser, if at the Time of Closing, the Vendor fails to complete the Sale Transaction, the Purchaser has the right, if not in default under this Agreement, to make payment of the purchase price for the Purchased Shares to the Vendor by depositing such amount to the credit of the Vendor in the main branch of the Corporation’s bankers in the City of Toronto. Such deposit constitutes valid and effective payment of the purchase price to the Vendor irrespective of any action the Vendor may have taken to transfer or xxxxx x Xxxx on the Purchased Shares. If the purchase price has been so paid, then from the date of deposit, the Sale Transaction is deemed to have been completed and all right, title, benefit and interest, both at law and in equity in and to the Purchased Shares is deemed to have been transferred to and become vested in the Purchaser and all right, title, benefit and interest of the Vendor or of any transferee or assignee of the Vendor, in and to the Purchased Shares, cease. (2) The Vendor is entitled to receive the amount deposited with the Corporation’s bankers under Section 8.6(1) together with the releases and indemnities which it is entitled to under Section 8.3 on delivery to the Purchaser of the documents referred to in Section 8.2 and Section 8.4 and in compliance with all other provisions of this Agreement.

Non-Completion by Vendor. If, at the closing of the Sale Transaction, the Vendor fails to complete the Sale Transaction, the Purchaser shall have the right, if not in default under this Agreement, without prejudice to any other rights which it may have, upon payment of the Purchase Price payable to the Vendor at the closing of the Sale Transaction, to execute and deliver, on behalf of and in the name of the Vendor, such deeds, transfers, share certificates, resignations or other documents that may be necessary to complete the Sale Transaction and each Shareholder, to the extent it may be a Vendor hereunder, hereby irrevocably appoints any Shareholder who becomes a Purchaser in a Sale Transaction its attorney in that behalf with no restriction or limitation in that regard and declaring that this power of attorney may be exercised during any subsequent legal incapacity on its part. This power of attorney is coupled with an interest and is therefore irrevocable.

Non-Completion by Vendor. If, at the Time of Closing, the Vendor fails to complete the Sale Transaction, the Purchaser shall have the right if not in default under this Agreement, without prejudice to any other rights which it may have, upon payment of the Purchased Price payable to the Vendor at the Time of Closing to the credit of the Vendor in the main branch of the Corporation’s bankers, to execute and deliver, on behalf of and in the name of the Vendor, such deeds, transfers, share certificates, resignations or other documents that may be necessary to complete the Sale Transaction and each Shareholder, to the extent it may be a Vendor hereunder, hereby irrevocably appoints any Shareholder who becomes a Purchaser in a Sale Transaction its attorney in fact in accordance with laws of the state of Nevada, with no restriction or limitation in that regard and declaring that this power of attorney may be exercised during any subsequent legal incapacity on its part.