Common use of Failure to Timely File or Maintain Effectiveness of Registration Statements Clause in Contracts

Failure to Timely File or Maintain Effectiveness of Registration Statements. In the event the Company fails to timely amend or file the Registration Statement in the time period set forth in Section 1.1(a) or fails to timely respond to SEC comments as required pursuant to Section 2.1(a), or fails to maintain the effectiveness of a Registration Statement (or the underlying prospectus) throughout the period set forth in Section 4.2, and the Holder holds Note or Registrable Securities at any time during the period of such ineffectiveness (an "Ineffective Period"), the Company shall pay to the Holder in immediately available funds into one or more accounts designated by the Holder an amount equal to one-half of one percent (0.5%) of the aggregate Note principal (as set forth on Schedule A hereto) of Note Registrable Securities then held by the Holder for each of the first four seven-calendar-day periods (or portion thereof) of an Ineffective Period and one percent (1.0%) of such aggregate Note principal or each subsequent seven-calendar-day periods (or portion thereof) of such Ineffective Period. Such payments shall be made on the first business day after the earliest to occur of (i) the expiration of an Ineffective Period, (ii) the expiration of the first twenty-eight calendar days of an Ineffective Period and (iii) the expiration of each additional twenty-eight calendar-day period during an Ineffective Period.

Failure to Timely File or Maintain Effectiveness of Registration Statements. In the event the Company fails to timely amend or file the Registration Statement in the time period set forth in Section 1.1(a) or fails to timely respond to SEC comments as required pursuant to Section 2.1(a), or fails to maintain the effectiveness of a Registration Statement (or the underlying prospectus) throughout the period set forth in Section 4.2, and the Holder holds Note or Registrable Securities at any time during the period of such ineffectiveness (an "Ineffective Period"), the Company shall pay to the Holder in immediately available funds into one or more accounts designated by the Holder an amount equal to one-half of one percent (0.5%) of the aggregate Note principal (as set forth on Schedule A hereto) of Note Registrable Securities then held by the Holder for each of the first four seven-calendar-day periods (or portion thereof) of an Ineffective Period and one percent (1.0%) of such aggregate Note principal or for each subsequent seven-calendar-day periods (or portion thereof) of such Ineffective Period. Such payments shall be made on the first business day after the earliest to occur of (i) the expiration of an Ineffective Period, (ii) the expiration of the first twenty-eight calendar days of an Ineffective Period and (iii) the expiration of each additional twenty-eight calendar-day period during an Ineffective Period.

Failure to Timely File or Maintain Effectiveness of Registration Statements. In the event the Company fails to timely amend or file the Registration Statement in the time period set forth in Section 1.1(a) or fails to timely respond to SEC comments as required pursuant to Section 2.1(a), or fails to maintain the effectiveness of a Registration Statement (or the underlying prospectus) throughout the period set forth in Section 4.2, and the Holder holds Note Preferred Shares or Registrable Securities at any time during the period of such ineffectiveness (an "Ineffective Period"), the Company shall pay to the Holder in immediately available funds into one or more accounts designated by the Holder an amount equal to one-half of one percent (0.5%) of the aggregate Note principal Stated Value of the Preferred Shares (as set forth on Schedule A hereto) of Note Registrable Securities then held by the Holder for each of the first four seven-calendar-day periods (or portion thereof) of an Ineffective Period and one percent (1.0%) of such aggregate Note principal Stated Value or each subsequent seven-calendar-day periods (or portion thereof) of such Ineffective Period. Such payments shall be made on the first business day after the earliest to occur of (i) the expiration of an Ineffective Period, (ii) the expiration of the first twenty-eight calendar days of an Ineffective Period and (iii) the expiration of each additional twenty-eight calendar-day period during an Ineffective Period.