Common use of Violation of First Refusal Right Clause in Contracts

Violation of First Refusal Right. If any selling Stockholder becomes obligated to sell any Capital Stock to the Company or any Major Investor under this Agreement and fails to deliver such Capital Stock in accordance with the terms of this Agreement, the Company and/or such Investor may, at his, her or its option, in addition to all other remedies he, she or it may have, send to such selling Stockholder the purchase price for such Capital Stock as is herein specified and transfer to the name of the Company or such Investor (or request that the Company effect such transfer) on the Company’s books the certificate or certificates representing the Capital Stock to be sold.

Violation of First Refusal Right. If any selling Stockholder becomes obligated to sell any Capital Transfer Stock to the Company or any Major Investor Stockholder under this Agreement and fails to deliver such Capital Transfer Stock in accordance with the terms of this Agreement, the Company and/or such Investor Stockholder may, at his, her or its option, in addition to all other remedies he, she or it may have, send to such selling Stockholder the purchase price for such Capital Transfer Stock as is herein specified and transfer to the name of the Company or such Investor Stockholder (or request that the Company effect such transfertransfer in the name of a Stockholder) on the Company’s books the certificate or certificates representing the Capital Transfer Stock to be sold.