Common use of Blackout Periods Clause in Contracts

Blackout Periods. In the event any Holder is unable to sell Registrable Securities under the Registration Statement for more than (A) 10 consecutive Trading Days or (B) an aggregate of 30 Trading Days in any 12 month period ("Suspension Grace Period"), including without limitation by reason of a suspension of trading of the Common Stock on the Approved Market, any suspension or stop order with respect to the Registration Statement or the fact that an event has occurred as a result of which the prospectus (including any supplements thereto) included in such Registration Statement then in effect includes an untrue statement of material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, or the number of shares of Common Stock covered by the Registration Statement is insufficient at such time to make such sales (a "Blackout"), then the Company shall make to each Holder a Monthly Delay Payment for each 30 day period (or portion thereof) from and after the expiration of the Suspension Grace Period. In lieu of receiving the Monthly Delay Payment as provided above, a Holder shall have the right but not the obligation to elect to have the Company redeem its Securities at a price equal to the Premium Redemption Price.

Blackout Periods. In the event any Holder is unable to sell Registrable Securities under the Registration Statement for more than (A) 10 seven (7) consecutive Trading Days days or (B) an aggregate of 30 Trading Days thirty (30) days in any 12 month period ("Suspension Grace Period"), including without limitation by reason of a suspension of trading of the Common Stock on the Approved Market, any suspension or stop order with respect to the Registration Statement or the fact that an event has occurred as a result of which the prospectus (including any supplements thereto) included in such Registration Statement then in effect includes an untrue statement of material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, or the number of shares of Common Stock covered by the Registration Statement is insufficient at such time to make such sales (a "Blackout"), then the Company shall make pay in cash or Common Stock (as provided in Section 2(b)(v)) to each Holder a Monthly Delay Payment for each 30 30-day period (or portion thereof) from and after the expiration of the Suspension Grace Period, which Delay Payment shall not exceed the maximum percentage permitted by law. In lieu of receiving the Monthly Delay Payment as provided above, a Holder shall have the right but not the obligation to elect to have the Company redeem its Securities Debentures, Warrants, Common Shares and Warrant Shares at a the price equal to the Premium Redemption Price.

Blackout Periods. In the event any Holder is unable to sell Registrable Securities under the Registration Statement for more than (A) 10 seven (7) consecutive Trading Days days or (B) an aggregate of 30 Trading Days twenty (20) days in any 12 month period ("“Suspension Grace Period"”), including without limitation by reason of a suspension of trading of the Common Stock on the Approved Market, any suspension or stop order with respect to the Registration Statement or the fact that an event has occurred as a result of which the prospectus (including any supplements thereto) included in such Registration Statement then in effect includes an untrue statement of material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, or the number of shares of Common Stock covered by the Registration Statement is insufficient at such time to make such sales (a "“Blackout"”), then the Company shall make pay in cash or Common Stock (as provided in Section 2(b)(v)) to each Holder a Monthly Delay Payment for each 30 30-day period (or portion thereof) from and after the expiration of the Suspension Grace Period, which Delay Payment shall not exceed the maximum percentage permitted by law. In lieu of receiving the Monthly Delay Payment as provided above, a Holder shall have the right but not the obligation to elect to have the Company redeem its Securities Warrants and Warrant Shares at a the price equal to the Premium Redemption Price.

Blackout Periods. In the event any Holder is unable Holder's ability to sell Registrable Securities under the Registration Statement is suspended for more than (Ai) 10 five (5) consecutive Trading Days days or (Bii) an aggregate of 30 Trading Days fifteen (15) days in any 12 month 360-day period ("Suspension Grace Period"), including without limitation by reason of a suspension of trading of the Common Stock on the Approved Market, any suspension or stop order with respect to the Registration Statement or the fact that an event has occurred as a result aresult of which the prospectus (including any supplements thereto) included in such Registration Statement then in effect includes an untrue statement of material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, or the number of shares of Common Stock covered by the Registration Statement is insufficient at such time to make such sales (a "Blackout"), then the Company shall make pay in cash to each Holder a Monthly Delay default payment at the Default Payment Rate of the Debenture Amount for the Debentures held by such Holder for each 30 day 30-d period (or portion thereof) from and after the expiration of the Suspension Grace Period. In lieu of receiving the Monthly Delay Payment as provided aboveAlternatively, a Holder holder shall have the right but not the obligation to elect to have (i) require the Company redeem its Securities at a price to purchase the Debentures for cash in an amount equal to the Premium Conversion Price, and/or (ii) require the Company to redeem the Warrants for cash in an amount equal to the Warrant Redemption Price.

Blackout Periods. In the event any Holder is ---------------- unable to sell Registrable Securities under the Registration Statement for more than (A) 10 seven (7) consecutive Trading Days days or (B) an aggregate of 30 Trading Days thirty (30) days in any 12 month period ("Suspension Grace Period"), including without limitation by reason of a suspension of trading of the Common Stock on the Approved Market, any suspension or stop order with respect to the Registration Statement or the fact that an event has occurred as a result of which the prospectus (including any supplements thereto) included in such Registration Statement then in effect includes an untrue statement of material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, or the number of shares of Common Stock covered by the Registration Statement is insufficient at such time to make such sales (a "Blackout"), then the Company shall make pay in cash or Common Stock (as provided in Section 2(b)(v)) to each Holder a Monthly Delay Payment for each 30 30-day period (or portion thereof) from and after the expiration of the Suspension Grace Period, which Delay Payment shall not exceed the maximum percentage permitted by law. In lieu of receiving the Monthly Delay Payment as provided above, a Holder shall have the right but not the obligation to elect to have the Company redeem its Securities Debentures, Warrants, Common Shares and Warrant Shares at a the price equal to the Premium Redemption Price.

Blackout Periods. In the event any Holder is unable to sell Registrable Securities under the Registration Statement for more than (A) 10 five (5) consecutive Trading Days days or (B) an aggregate of 30 Trading Days twenty (20) days in any 12 month period ("Suspension Grace PeriodSUSPENSION GRACE PERIOD"), including without limitation by reason of a suspension of trading of the Common Stock on the Approved Market, any suspension or stop order with respect to the Registration Statement or the fact that an event has occurred as a result of which the prospectus (including any supplements thereto) included in such Registration Statement then in effect includes an untrue statement of material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, or the number of shares of Common Stock covered by the Registration Statement is insufficient at such time to make such sales (a "BlackoutBLACKOUT"), then the Company shall make pay in cash or Common Stock (as provided in Section 2(b)(v)) to each Holder a Monthly Delay Default Payment for each 30 30-day period (or portion thereof) from and after the expiration of the Suspension Grace Period, which Default Payment shall not exceed the maximum percentage permitted by law. In lieu of receiving the Monthly Delay Default Payment as provided above, a Holder shall have the right but not the obligation to elect to have the Company redeem its Securities Debentures and Common Shares and Warrant Shares at a the price equal to the Premium Redemption Price.

Blackout Periods. In the event any Holder is unable to sell Registrable Securities under the Registration Statement for more than (A) 10 seven (7) consecutive Trading Days days or (B) an aggregate of 30 Trading Days thirty (30) days in any 12 month period ("Suspension Grace Period"), including without limitation by reason of a suspension of trading of the Common Stock on the Approved Market, any suspension or stop order with respect to the Registration Statement or the fact that an event has occurred as a result of which the prospectus (including any supplements thereto) included in such Registration Statement then in effect includes an untrue statement of material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, or the number of shares of Common Stock covered by the Registration Statement is insufficient at such time to make such sales (a "Blackout"), then the Company shall make pay in cash to each Holder a Monthly Delay Payment for each 30 30-day period (or portion thereof) from and after the expiration of the Suspension Grace Period. In lieu of receiving the Monthly Delay Payment as provided above, a Holder shall have the right but not the obligation to elect to have the Company redeem its Securities at a the price equal to the Premium Redemption Price.

Blackout Periods. In the event any Holder is unable to sell Registrable Securities under the Registration Statement for more than (A) 10 five (5) consecutive Trading Days days or (B) an aggregate of 30 Trading Days ten (10) days in any 12 month period ("Suspension Grace PeriodSUSPENSION GRACE PERIOD"), including without limitation by reason of a suspension of trading of the Common Stock on the Approved Market, any suspension or stop order with respect to the Registration Statement or the fact that an event has occurred as a result of which the prospectus (including any supplements thereto) included in such Registration Statement then in effect includes an untrue statement of material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, or the number of shares of Common Stock covered by the Registration Statement is insufficient at such time to make such sales (a "BlackoutBLACKOUT"), then the Company shall make to each Holder cause a Monthly Delay Payment Conversion Price Reduction for each 30 30-day period (or portion thereof) from and after the expiration of the Suspension Grace Period. In lieu of receiving the Monthly Delay Payment Conversion Price Reduction as provided above, a Holder shall have the right but not the obligation to elect to have the Company redeem its Securities Debentures, Warrants, Common Shares and Warrant Shares at a price equal to the Premium Redemption Price.