Common use of Failure to Deliver Shares Clause in Contracts

Failure to Deliver Shares. If the Stockholder becomes obligated to sell Shares to the Company under this Agreement and fails to deliver such Vested Shares or Unvested Shares to the Company in accordance with the terms of this Agreement, the Company may, at its option, in addition to all other remedies it may have, send to the Stockholder by registered mail, return receipt requested, the purchase price for such Shares, determined as is herein specified. Thereupon, the Company, upon written notice to the Stockholder, (i) shall cancel on its books the certificate or certificates representing the Shares to be sold; and (ii) shall issue, in lieu thereof, a new certificate or certificates in the name of the Company entitled thereto representing such Shares which may remain; and thereupon all of the Stockholder’s rights in and to such Shares shall terminate.

Failure to Deliver Shares. If the Stockholder becomes any Security Holder (or such Security Holder’s legal representative) who has become obligated to sell Shares to the Company under this Agreement and fails hereunder shall fail to deliver such Vested Shares or Unvested Shares to the Company in accordance with the terms of this Agreement, the Company may, at its option, in addition to all other remedies it may have, send to the Stockholder such Security Holder by registered mail, return receipt requested, the purchase price for such Shares, determined Shares as is herein specified. Thereupon, the Company, upon written notice to the Stockholder, : (i) shall cancel on its books the certificate or certificates representing the such Shares to be sold; and (ii) shall issue, in lieu thereof, a new certificate or certificates in the name of the Company entitled thereto representing such Shares which may remain; Shares, and thereupon all of the Stockholdersuch Security Holder’s rights in and to such Shares shall terminate.

Failure to Deliver Shares. If the Stockholder a Shareholder becomes obligated to sell any Shares to the Company or to other Shareholders under this Agreement and fails to deliver such Vested Shares or Unvested Shares to the Company in accordance with the terms of this Agreement, the Company or the other Shareholders (whichever the case may be) may, at its option, in addition to all other remedies it or they may have, send to the Stockholder by registered mail, return receipt requested, such Shareholder the purchase price for such Shares, determined Shares as is herein specified. Thereupon, the Company, Company upon written notice to the Stockholderobligated Shareholder, (ia) shall cancel on its books the certificate or certificates representing the Shares to be sold; sold and (iib) shall issue, in lieu thereof, a new certificate or certificates in the name of the Company entitled thereto or the other Shareholders (whichever the case may be) a new certificate or certificates representing such Shares which may remain; Shares, and thereupon all of the Stockholder’s obligated Shareholder's rights in and to such Shares shall terminate.

Failure to Deliver Shares. If the Stockholder Purchaser becomes obligated to sell ------------------------- any Shares to the Company or its designee under this Agreement Section 2 and fails to deliver such Vested Shares or Unvested Shares to the Company in accordance with the terms of this Agreement, the Company or its designee may, at its option, in addition to all other remedies it may have, send to the Stockholder by registered mail, return receipt requested, Purchaser the purchase price for such Shares, determined Shares as is herein specified. Thereupon, the Company, Company upon written notice to the StockholderPurchaser, (i) shall cancel on its books the certificate or certificates representing the Shares to be sold; sold and (ii) shall issue, in lieu thereof, a new certificate or certificates in the name of the Company entitled thereto or its assignee, a new certificate or certificates representing such Shares which may remain; Shares, and thereupon all of the Stockholder’s Purchaser's rights in and to such Shares shall terminate.

Failure to Deliver Shares. (a) If the Stockholder becomes any Holder (or such Holder’s legal representative) who has become obligated to sell Shares to the Company under this Agreement and fails hereunder shall fail to deliver such Vested Shares or Unvested Shares to the Company in accordance with the terms of this Agreement, the Company may, at its option, in addition to all other remedies it may have, send to the Stockholder such Holder by registered mail, return receipt requested, or express overnight courier service the purchase price for such Shares, determined Shares as is herein specified. Thereupon, the Company, upon written notice to the Stockholder, : (i) shall cancel on its books the certificate or certificates representing the such Shares to be sold; and (ii) shall issue, in lieu thereof, a new certificate or certificates in the name of the Company entitled thereto representing such Shares which may remain; Shares, and thereupon all of the Stockholdersuch Holder’s rights in and to such Shares shall terminate.

Failure to Deliver Shares. If the a Stockholder becomes obligated to sell Shares to the Company Stock under this Agreement and fails to deliver certificates representing such Vested Shares or Unvested Shares to the Company Stock in accordance with the terms of this Agreement, the Company purchaser of such Shares may, at its his option, in addition to all other remedies it he may have, send to the Stockholder by registered mail, return receipt requested, the purchase price for such Shares, determined Stock as is herein specified. Thereupon, the Company, upon written notice to the Stockholder, (i) shall cancel on its books the certificate or certificates representing the Shares Stock to be sold; and (ii) shall issue, in lieu thereof, a new certificate or certificates in the name of the Company entitled thereto purchaser representing such Shares which may remainStock; and thereupon all of the Stockholder’s 's rights in and to such Shares Stock shall terminate.

Failure to Deliver Shares. If the Stockholder becomes obligated to ------------------------- sell any Shares to an Investor or the Company under this Agreement and fails to deliver such Vested Shares or Unvested Shares to the Company in accordance with the terms of this Agreement, such Investor or the Company Company, as the case may be, may, at its option, in addition to all other remedies it may have, send to the Stockholder by registered mail, return receipt requested, the purchase price for such Shares, determined Shares as is herein specified. Thereupon, the Company, Company upon written notice to the Stockholder, (ia) shall cancel on its books the certificate or certificates representing the Shares to be sold; sold and (iib) shall issue, in lieu thereof, in the name of such Investor or the Company, as the case may be, a new certificate or certificates in the name of the Company entitled thereto representing such Shares which may remain; Shares, and thereupon all of the Stockholder’s 's rights in and to such Shares shall terminate.

Failure to Deliver Shares. If the Stockholder a Securityholder becomes obligated to sell any Shares to a Purchaser or the Company under this Agreement and fails to deliver such Vested Shares or Unvested Shares to the Company in accordance with the terms of this Agreement, such Purchaser or the Company Company, as the case may be, may, at its option, in addition to all other remedies it may have, send to the Stockholder by registered mail, return receipt requested, such Securityholder the purchase price for such Shares, determined Shares as is herein specified. Thereupon, the Company, Company upon written notice to the Stockholdersuch Securityholder, (ia) shall cancel on its books the certificate or certificates representing the Shares to be sold; sold and (iib) shall issue, in lieu thereof, in the name of such Purchaser or the Company, as the case may be, a new certificate or certificates in the name of the Company entitled thereto representing such Shares which may remain; Shares, and thereupon all of the Stockholder’s such Securityholder's rights in and to such Shares shall terminate.

Failure to Deliver Shares. If the a Stockholder becomes obligated to sell Shares Transfer any Stock to another Stockholder or the Company under this Agreement and fails to deliver such Vested Shares or Unvested Shares to the Company Stock in accordance with the terms of this Agreement, such transferee-Stockholder or the Company Company, as the case may be, may, at its option, in addition to all other remedies it may have, send to the such transferor-Stockholder by registered mail, return receipt requested, the purchase price for such Shares, determined Stock as is herein specified. Thereupon, the Company, Company upon written notice to the such transferor-Stockholder, (ia) shall cancel on its books the certificate or certificates representing the Shares Stock to be sold; Transferred and (iib) shall issue, in lieu thereof, in the name of such transferee-Stockholder or the Company, as the case may be, a new certificate or certificates in the name of the Company entitled thereto representing such Shares which may remain; Stock, and thereupon all of the such transferor-Stockholder’s rights in and to such Shares Stock shall terminate.

Failure to Deliver Shares. If the a Management Stockholder becomes obligated to sell any Shares to the Company under this Agreement and fails to deliver such Vested Shares or Unvested Shares to the Company in accordance with the terms of this Agreement, the Company or an affected Purchaser may, at its option, in addition to all other remedies it may have, send to the such Management Stockholder by registered mail, return receipt requested, the purchase price for such Shares, determined Shares as is herein specified. Thereupon, the Company, Company upon written notice to the such Management Stockholder, (ia) shall cancel on its books the certificate or certificates representing the Shares to be sold; sold and (iib) shall issue, in lieu thereof, a new certificate or certificates in the name of the Company entitled thereto or such Purchaser a new certificate or certificates representing such Shares which may remain; Shares, and thereupon all of the such Management Stockholder’s rights in and to such Shares shall terminate.

Failure to Deliver Shares. If the Stockholder a Selling Shareholder becomes obligated to sell Shares to the Company an Investor under this Agreement any Shares, and the Selling Shareholder fails to deliver such Vested Shares or Unvested Shares comply with its obligations hereunder relating to the Company in accordance with delivery of certificates for the terms of this AgreementShares, the Company such Investor may, at its option, in addition to all other remedies it may have, send to Company for the Stockholder by registered mail, return receipt requested, benefit of such Selling Shareholder the purchase price for such Shares, determined Shares as is herein specified. Thereupon, the Company, Company upon written notice to the Stockholder, such Selling Shareholder (i) shall cancel on its books the certificate or certificates certificate(s) representing the Shares to be sold; , and (ii) shall issue, in lieu thereof, a new certificate or certificates in the name of the Company entitled thereto such Investor, a new certificate(s) representing such Shares which may remain; Shares, and thereupon all of the Stockholder’s such Selling Shareholder's rights in and to such Shares shall terminate. Company may exercise a similar remedy in enforcing its rights hereunder.

Failure to Deliver Shares. If the Stockholder becomes obligated to sell the Contingent Shares to the Company under this Agreement and fails to deliver such Vested the Contingent Shares or Unvested Shares to the Company in accordance with the terms of this Agreement, then the Company may, at its option, the Company's option and in addition to all other remedies it the Company may have, send to the Stockholder by registered mail, return receipt requested, the purchase price Purchase Price for such Shares, determined the Contingent Shares as is herein specified. Thereupon, the Company, Company upon written notice to the Stockholder, Stockholder (ia) shall cancel on its the Company's books the certificate or certificates representing the Contingent Shares to be sold; sold and (iib) shall issue, in lieu thereof, issue to the Stockholder a new certificate or certificates evidencing the number of Vested Shares, if any, registered in the name of the Company entitled thereto representing such Shares which may remain; Stockholder, and thereupon all of the Stockholder’s 's rights in and to such Contingent Shares shall terminate.

Failure to Deliver Shares. If the Stockholder becomes obligated to sell Shares to the Company under this Agreement and fails to deliver such Vested Shares or Unvested Shares to the Company in accordance with the terms of this Agreement, the Company may, at its option, in addition to all other remedies it may have, send to the Stockholder by registered mail, return receipt requested, the purchase price for such Shares, determined as is herein specified. Thereupon, the Company, upon written notice to the Stockholder, (i) shall cancel on its books the certificate or certificates representing the Shares to be sold; and (ii) shall issue, in lieu thereof, a new certificate or certificates in the name of the Company entitled thereto representing such Shares which may remain; and thereupon all of the Stockholder’s rights in and to such Shares shall terminate.

Failure to Deliver Shares. (a) If the any Existing Stockholder becomes (or his legal representative) who has become obligated to sell Shares to in the Company under this Agreement and fails hereunder shall fail to deliver such Vested Shares or Unvested Shares to the Company in accordance with the terms of this Agreement, the Company may, at its option, in addition to all other remedies it may have, send to the such Existing Stockholder by registered mail, return receipt requested, the purchase price for such Shares, determined Shares as is herein specified. Thereupon, the Company, upon written notice to the Stockholder, : (i) shall cancel on its books the certificate or certificates representing the such Shares to be sold; and (ii) shall issue, in lieu thereof, a new certificate or certificates in the name of the Company entitled thereto representing such Shares which may remain; Shares, and thereupon all of the such Existing Stockholder’s rights in and to such Shares shall terminate.

Failure to Deliver Shares. If the a Stockholder becomes ------------------------- obligated to sell any Shares to an Investor or the Company under this Agreement and fails to deliver such Vested Shares or Unvested Shares to the Company in accordance with the terms of this Agreement, such Investor or the Company mayCompany, as the case may be, at its option, in addition to all other remedies it such person may have, shall send to the Stockholder by registered mail, return receipt requested, the purchase price for such Shares, determined Shares as is herein specified. Thereupon, the Company, Company upon written notice to the Stockholder, (ia) shall cancel on its books the certificate or certificates representing the Shares to be sold; sold and (iib) shall issue, in lieu thereof, in the name of such Investor or the Company, as the case may be, a new certificate or certificates in the name of the Company entitled thereto representing such Shares which may remain; Shares, and thereupon all of the Stockholder’s 's rights in and to such Shares shall terminate.