Common use of Failure to Obtain Effectiveness of Registration Statements Clause in Contracts

Failure to Obtain Effectiveness of Registration Statements. In the event the Company fails for any reason to obtain the effectiveness of a Registration Statement within the time period set forth in Section 1.1(b), the Company shall pay to the Investor, within three Trading Days of the date by which such Registration Statement was required to have been declared effective, $10,000 in immediately available funds into an account designated by the Investor; provided, however, that such amount shall not be payable with respect to the postponement of the effectiveness of a Registration Statement (or use of the underlying prospectus) pursuant to Section 1.1(f). Such payment shall be made by wire transfer of immediately available funds.

Failure to Obtain Effectiveness of Registration Statements. In the event the Company fails for any reason to obtain the effectiveness of a Registration Statement within the time period set forth in Section 1.1(b), the Company shall pay to the InvestorInvestors, collectively, within three Trading Days of the date by which such Registration Statement was required to have been declared effective, each Investor's Proportionate Share of the sum of $10,000 100,000 in immediately available funds into an account designated by the Investor; provided, however, that such amount shall not be payable with respect . The Company will also pay to the postponement Finders, collectively, the sum of $25,000 during the effectiveness of a Registration Statement (or use of same time and in the underlying prospectus) pursuant to Section 1.1(f)same manner. Such payment shall be made by wire transfer of immediately available funds.

Failure to Obtain Effectiveness of Registration Statements. In the event the Company fails for any reason to obtain the effectiveness of a Registration Statement within the time period set forth in Section 1.1(b), the Company shall pay to the InvestorInvestors, collectively, within three Trading Days of the date by which such Registration Statement was required to have been declared effective, each Investor's Proportionate Share of the sum of $10,000 25,000 in immediately available funds into an account designated by the Investor; provided. In such event, however, that such amount shall not be payable with respect the Company will also pay to the postponement Warrant Recipients, collectively, the sum of $15,000 at the effectiveness of a Registration Statement (or use of same time and in the underlying prospectus) pursuant to Section 1.1(f)same manner. Such payment payments shall be made by wire transfer of immediately available funds.

Failure to Obtain Effectiveness of Registration Statements. In the event the Company fails for any reason to obtain the effectiveness of a Registration Statement within the time period set forth in Section 1.1(b), the Company shall pay to the InvestorInvestors, collectively, within three Trading Days of the date by which such Registration Statement was required to have been declared effective, each Investor's Proportionate Share of the sum of $10,000 122,000 in immediately available funds into an account designated by the Investor; provided, however, that such amount shall not be payable with respect . The Company will also pay to the postponement Finders, collectively, the sum of $25,000 during the effectiveness of a Registration Statement (or use of same time and in the underlying prospectus) pursuant to Section 1.1(f)same manner. Such payment shall be made by wire transfer of immediately available funds.

Failure to Obtain Effectiveness of Registration Statements. In the event the Company fails for any reason to obtain the effectiveness of a Registration Statement within one hundred and eighty (180) days of the time period set forth in Section 1.1(b)Subscription Date, the Company shall pay to the InvestorInvestors, collectively, within three Trading Days of such date, each Investor's Proportionate Share of the date by which such Registration Statement was required to have been declared effective, sum of $10,000 50,000 in immediately available funds into an account designated by the Investor; provided. In such event, however, that such amount shall not be payable with respect the Company will also pay to the postponement Warrant Recipients, collectively, the sum of $25,000 at the effectiveness of a Registration Statement (or use of same time and in the underlying prospectus) pursuant to Section 1.1(f)same manner. Such payment payments shall be made by wire transfer of immediately available funds.