Common use of Advances; Mechanics Clause in Contracts

Advances; Mechanics. Upon the terms and subject to the conditions of this Agreement, during the Commitment Period, (i) the Company, at its sole discretion, shall have the right, but not the obligation, to issue and sell to the Investor, and the Investor shall subscribe for and purchase from the Company, up to the Commitment Amount in aggregate gross proceeds of validly issued, fully paid and non-assessable (meaning that a holder of Ordinary Shares will not by reason of merely being such a holder, be subject to assessment or calls by the Company or its creditors for further payment on such Ordinary Shares) Advance Shares by the delivery to the Investor of Advance Notices, provided (x) no balance is outstanding under a Promissory Note, or, (y) if there is a balance outstanding under a Promissory Note, an Amortization Event has occurred in accordance with Section 3.01(a)(iii) hereof, and (ii) for as long as there is a balance outstanding under the Promissory Note, the Investor, at its sole discretion shall have the right, but not the obligation, by the delivery to the Company of Investor Notices, to cause an Advance Notice to be deemed delivered to the Investor and the issuance and sale of Advance Shares to the Investor pursuant to an Advance, on the following terms:

Advances; Mechanics. Upon the terms and subject to the conditions of this Agreement, during the Commitment Period, (i) the Company, at its sole discretion, shall have the right, but not the obligation, to issue and sell to the Investor, and the Investor shall subscribe for and purchase from the Company, up to the Commitment Amount in aggregate gross proceeds of validly issued, fully paid and non-assessable (meaning that a holder of Ordinary Shares will not by reason of merely being such a holder, be subject to assessment or calls by the Company or its creditors for further payment on such Ordinary Shares) Advance Shares by the delivery to the Investor of Advance Notices, provided (x) no balance is outstanding under a the Promissory Note, or, (y) if there is a balance outstanding under a the Promissory Note, an Amortization a Trigger Event has occurred in accordance with Section 3.01(a)(iii) hereof), and (ii) for as so long as there is a balance outstanding under the Promissory Note, the Investor, at its sole discretion discretion, shall have the right, but not the obligation, by the delivery to the Company of Investor Notices, to cause an Advance Notice to be deemed delivered to the Investor and the issuance and sale of Advance Common Shares to the Investor pursuant to an AdvanceAdvance as set out in Section 3.01(b), on the following below terms; provided, however, that any Advance Notice or Investor Notice, as applicable, will require the effectiveness of a Registration Statement registering with the SEC the Registrable Securities: