Common use of BSTI's Failure to Timely Exchange Clause in Contracts

BSTI's Failure to Timely Exchange. If BSTI shall fail to issue to a holder on a Closing Date, a certificate for the number of shares of Conversion Shares to which such holder is entitled upon such holder's exchange of Common Stock, in addition to all other available remedies which such holder may pursue hereunder (including indemnification pursuant to Section 7 hereof), the Company shall pay additional damages to such holder on each day after the fifth (5th) Trading Day following the applicable Closing Date for which such exchange is not timely effected, an amount equal to 1.0% of the product of number of Conversion Shares not issued to such holder to which such holder is entitled by the Exchange Price for each calendar month until such exchange is made unless Buyer elects to enforce the terms of Section 11 herein.