Common use of Failure to File Registration Statement Clause in Contracts

Failure to File Registration Statement. The Company hereby agrees that in the event it either refuses to file or fails to file the registration statement specified in this Section 6, then the Investor shall be due liquidated damages in the amount of the greater of i) One Million Dollars ($1,000,000) or ii) the combined market value of the common shares held by the Investor, plus the market value of the shares from the unexercised warrants minus the value of the exercise price.