Common use of Replacement of the Shares Clause in Contracts

Replacement of the Shares. If any certificate or instrument evidencing any the Shares is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs (including customary indemnity) associated with the issuance of such replacement Shares.

Appears in 2 contracts

Samples: Securities Purchase Agreement (usell.com, Inc.), Stock Purchase Agreement (Aspen Group, Inc.)

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Replacement of the Shares. If any certificate or instrument evidencing any the Shares is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of and substitution therefor, a new certificate or instrumentcertificate, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs (including customary indemnity) associated with the issuance of such replacement Sharescertificate.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Prospect Global Resources Inc.)

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Replacement of the Shares. If any certificate or instrument evidencing any the Shares is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs (including customary indemnity) associated with the issuance of such replacement Shares.

Appears in 1 contract

Samples: Stock Purchase Agreement (Fuse Medical, Inc.)

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