Actions Following Termination. (i) As soon as practicable after the termination of this Agreement, the Trustee shall by formal assignment of the Trustee Shares cause the Company to deliver to the Beneficiary share certificates or securities representing the number of Shares together with any other property distributed in respect of such Shares and not yet delivered to the beneficial owner, upon the surrender of such Certificates properly endorsed. (ii) If the Beneficiary cannot be located or fails or refuses to surrender Certificates in exchange for shares and/or other property as aforesaid, the Trustee may in his discretion deliver said shares and/or other property to the Company for the benefit of the person or persons entitled thereto. Upon any such delivery the Trustee shall be fully acquitted and discharged with respect to the delivery of said shares and/or other property.
Appears in 2 contracts
Sources: Series C Preferred Stock and Warrant Purchase Agreement (Rhythms Net Connections Inc), Voting Trust Agreement (Rhythms Net Connections Inc)
Actions Following Termination. (i) As soon as practicable after the termination of this Agreement, the Trustee shall by formal assignment of the Trustee Shares cause the Company to deliver to the Beneficiary share certificates or securities representing the number of Shares together with any other property distributed in respect of such Shares and not yet delivered to the beneficial owner, upon the surrender of such Certificates properly endorsed.
(ii) If the Beneficiary cannot be located or fails or refuses to surrender Certificates in exchange for shares and/or other property as aforesaid, the Trustee may in his discretion deliver said shares and/or other property to the Company for the benefit of the person or persons entitled thereto. Upon any such delivery the Trustee shall be fully acquitted and discharged with respect to the delivery of said shares and/or other property.
Appears in 1 contract
Sources: Voting Trust Agreement (Rhythms Net Connections Inc)