Failure to Pay Put Price Sample Clauses

Failure to Pay Put Price. If the Company is not lawfully able or fails to pay the Put Price in full on or before the sixtieth day after the date of the Put Notice (the “Put Payment Date”), then, at any time thereafter, at the option of the Majority Holders, all of the rights heretofore represented by this Warrant or any Warrant Shares for which repurchase has been demanded, including any right of such holder hereof to cause the Company to purchase such Warrant Shares, shall convert, automatically and irrevocably and without any further action or acknowledgment on the part of the Company or the holder hereof, into an obligation of the Company to pay to such holder hereof, on demand, an amount equal to the unpaid portion of the Put Price, together with accrued interest (based on a 365-day year) on the unpaid principal amount thereof at a rate of fourteen percent (14%) per annum (such rate, as adjusted from time to time pursuant to the following sentence, the “Default Rate”), with interest compounding quarterly until the maturity thereof. Nothing in this Section 6.4 shall require the Company to pay interest at a rate in excess of the maximum rate permitted by applicable law. The obligation of the Company created pursuant to this Section 6.4 may be prepaid by the Company at any time without premium or penalty. The entire principal amount of the obligation and any interest accrued thereon, if not sooner demanded by the holder thereof, shall become immediately due and payable and must be repaid upon the earliest of (i) consummation of any registered public offering after the Closing Date, (ii) any acceleration by any holder of Funded Indebtedness owed to such holder, (iii) the occurrence of any Value Event involving any Company Group Member, (iv) the occurrence of a payment default required any senior credit agreement to which the Company or any Company Subsidiary is a party, and (v) the first anniversary of the Put Payment Date. All payments of principal and interest on such obligation shall be made by wire transfer of immediately available funds to an account or accounts designated in writing by such holder. Upon the request of any holder of Warrant Shares, accompanied by such holder’s delivery to the Company of all warrant and stock certificates representing Warrant Shares (or in lieu thereof, an affidavit of lost warrant or stock certificate, as the case may be, reasonably acceptable to the Company) that in accordance with this Section 6.4 have been converted into the Company’s payme...
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Related to Failure to Pay Put Price

  • Failure to Pay Rent Any failure of Concessionaire to timely pay any rent due or any other monetary sums required to be paid hereunder where such failure continues for a period of ten (10) consecutive days after such sums are due.

  • Failure to Pay Principal The Borrower fails to pay or cause to be paid any principal of such Exchange Note on the applicable Final Scheduled Payment Date and, if such failure is due to an administrative omission, mistake or technical difficulty such failure continues for three (3) Business Days after the date when such principal became due or such other length of time as specified in the Exchange Note Supplement;

  • Failure to Pay The Borrower fails to make a payment under this Agreement when due.

  • Failure to Pay Insurance If any Borrower fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, if Agent so elects, may obtain such insurance and pay the premium therefor on behalf of such Borrower, and charge Borrowers’ Account therefor as a Revolving Advance of a Domestic Rate Loan and such expenses so paid shall be part of the Obligations.

  • Termination for Failure to Pay If Company fails to make any payment due hereunder, Hospital shall have the right to terminate this Agreement upon ten (10) business days written notice, unless Company makes such payments plus any interest due, as set forth in Section 4.7, within said ten (10) day notice period. If payments are not made, Hospital may immediately terminate this Agreement at the end of said ten (10) day period. Company shall be entitled to only one such cure period in a calendar year; for a second failure to make payment on time, Hospital shall have the right to terminate this Agreement immediately upon written notice.

  • Failure to Make Payment In the event a participating Authorized User fails to make payment to the Contractor for Products delivered, accepted and properly invoiced, within thirty calendar days of such delivery and acceptance, the Contractor may, upon five business days advance written notice to both the Commissioner and the Authorized User’s purchasing official, suspend additional shipments of Product or provision of services to such entity until such time as reasonable arrangements have been made and assurances given by such entity for current and future Contract payments.

  • Failure to Pay Principal or Interest The Borrower fails to pay any installment of principal or interest hereon when due and such failure continues for a period of ten (10) days after the due date. The ten (10) day period described in this Section 3.1 is the same ten (10) day period described in Section 1.1 hereof.

  • Inability to Pay Debts; Attachment (i) Any Loan Party or any Subsidiary thereof becomes unable or admits in writing its inability or fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part of the property of any such Person and is not released, vacated or fully bonded within 30 days after its issue or levy; or

  • Failure to Pay or Deliver Failure by the party to make, when due, any payment under this Agreement or delivery under Section 2(a)(i) or 2(e) required to be made by it if such failure is not remedied on or before the third Local Business Day after notice of such failure is given to the party;

  • Inability to Pay Debts The Borrower or any Restricted Subsidiary shall become unable, admit in writing its inability or fail generally to pay its debts as they become due;

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