Common use of INABILITY TO CONVERT DUE TO CAP AMOUNT Clause in Contracts

INABILITY TO CONVERT DUE TO CAP AMOUNT. A. OBLIGATION TO CURE. If at any time the then unissued portion of Holder's Cap Amount is less than 135% of the number of shares of Common Stock then issuable upon conversion of this Debenture (a "TRADING MARKET TRIGGER EVENT"), the Corporation shall immediately notify the Holders of such occurrence and shall take immediate action (including, if necessary, seeking the approval of its shareholders to authorize the issuance of the full number of shares of Common Stock which would be issuable upon the conversion of this Debenture but for the Cap Amount) to eliminate any prohibitions under applicable law or the rules or regulations of any stock exchange, interdealer quotation system or other self-regulatory organization with jurisdiction over the Corporation or any of its securities on the Corporation's ability to issue shares of Common Stock in excess of the Cap Amount. In the event the Corporation fails to eliminate all such prohibitions within ninety (90) days after the Trading Market Trigger Event, Holder shall thereafter have the option, exercisable in whole or in part at any time and from time to time by delivery of a Default Notice (as defined in Article VIII.C) to the Corporation, to require the Corporation to pay for cash, at the Default Amount, a portion of the principal amount of this Debenture (and accrued and unpaid interest thereon) such that, after giving effect to such prepayment, Holder's allocated portion of the Cap Amount exceeds 135% of the total number of shares of Common Stock issuable to Holder upon conversion of this Debenture on the date of such Default Notice. Additionally, if at any time and from time to time the then unissued portion of Holder's Cap Amount is less than the number of shares of Common Stock then issuable upon conversion of this Debenture, Holder shall thereafter have the option, exercisable in whole or in part at any time and from time to time by delivery of a Default Notice (as defined in Article VIII.C) to the Corporation, to require the Corporation to pay for cash, at the Default Amount, a portion of the principal amount of this Debenture (and accrued and unpaid interest thereon) such that, after giving effect to such prepayment, Holder's allocated portion of the Cap Amount equals the total number of shares of Common Stock issuable to Holder upon conversion of this Debenture on the date of such Default Notice. If the Corporation fails to pay the Default Amount within five (5) business days after its receipt of a Default Notice, then Holder shall be entitled to the remedies provided in Article VIII.C.

INABILITY TO CONVERT DUE TO CAP AMOUNT. A. OBLIGATION TO CURE. If at any time the then unissued portion of Holder's Cap Amount is less than 135% of the number of shares of Common Stock Ordinary Shares then issuable upon conversion of this Debenture Series B Preferred Shares (a "TRADING MARKET TRIGGER EVENT"), the Corporation Company shall immediately notify the Holders of such occurrence and shall take immediate action (including, if necessary, seeking the approval of its shareholders to authorize the issuance of the full number of shares of Common Stock Ordinary Shares which would be issuable upon the conversion of this Debenture Series B Preferred Shares but for the Cap Amount) to eliminate any prohibitions under applicable law or the rules or regulations of any stock exchange, interdealer quotation system or other self-regulatory organization with jurisdiction over the Corporation Company or any of its securities on the CorporationCompany's ability to issue shares of Common Stock Ordinary Shares in excess of the Cap Amount. In the event the Corporation Company fails to eliminate all such prohibitions within ninety (90) days after the Trading Market Trigger Event, Holder shall thereafter have the option, exercisable in whole or in part at any time and from time to time by delivery of a Default Redemption Notice (as defined in Article VIII.C) to the CorporationCompany, to require the Corporation Company to pay for cash, at the Default Redemption Amount, a portion of the principal amount then unissued portion of this Debenture (and accrued and unpaid interest thereon) the Holder's Cap Amount such that, after giving effect to such prepayment, Holder's allocated portion of the Cap Amount exceeds 135% of the total number of shares of Common Stock Ordinary Shares issuable to Holder upon conversion of this Debenture such Holder's Series B Preferred Shares on the date of such Default Notice. Additionally, if at any time and from time to time the then unissued portion of Holder's Cap Amount is less than the number of shares of Common Stock Ordinary Shares then issuable upon conversion of this Debenturesuch Holder's Series B Preferred Shares, Holder shall thereafter have the option, exercisable in whole or in part at any time and from time to time by delivery of a Default Redemption Notice (as defined in Article VIII.C) to the CorporationCompany, to require the Corporation Company to pay for cash, at the Default Redemption Amount, a portion of the principal amount then unissued portion of this Debenture such Holder's Cap Amount (and accrued and unpaid interest Premium thereon) such that, after giving effect to such prepayment, Holder's allocated portion of the Cap Amount equals the total number of shares of Common Stock Ordinary Shares issuable to Holder upon conversion of this Debenture such Holder's Series B Preferred Shares on the date of such Default Redemption Notice. If the Corporation Company fails to pay the Default Redemption Amount within five (5) business days after its receipt of a Default Redemption Notice, then Holder shall be entitled to the remedies provided in Article VIII.C.

INABILITY TO CONVERT DUE TO CAP AMOUNT. A. OBLIGATION TO CUREObligation to Cure. If at any time the then unissued portion of Holder's Cap Amount is less than 135% of the number of shares of Common Stock then issuable upon conversion of this Debenture (a "TRADING MARKET TRIGGER EVENTTrading Market Trigger Event"), the Corporation shall immediately notify the Holders of such occurrence and shall take immediate action (including, if necessary, seeking the approval of its shareholders to authorize the issuance of the full number of shares of Common Stock which would be issuable upon the conversion of this Debenture but for the Cap Amount) to eliminate any prohibitions under applicable law or the rules or regulations of any stock exchange, interdealer quotation system or other self-regulatory organization with jurisdiction over the Corporation or any of its securities on the Corporation's ability to issue shares of Common Stock in excess of the Cap Amount. In the event the Corporation fails to eliminate all such prohibitions within ninety (90) days after the Trading Market Trigger Event, Holder shall thereafter have the option, exercisable in whole or in part at any time and from time to time by delivery of a Default Notice (as defined in Article VIII.C) to the Corporation, to require the Corporation to pay for cash, at the Default AmountAmount (as defined in Article VIII.B), a portion of the principal amount of this Debenture (and accrued and unpaid interest thereon) such that, after giving effect to such prepayment, Holder's allocated portion of the Cap Amount exceeds 135% of the total number of shares of Common Stock issuable to Holder upon conversion of this Debenture on the date of such Default Notice. Additionally, if at any time and from time to time the then unissued portion of Holder's Cap Amount is less than the number of shares of Common Stock then issuable upon conversion of this Debenture, Holder shall thereafter have the option, exercisable in whole or in part at any time and from time to time by delivery of a Default Notice (as defined in Article VIII.C) to the Corporation, to require the Corporation to pay for cash, at the Default Amount, a portion of the principal amount of this Debenture (and accrued and unpaid interest thereon) such that, after giving effect to such prepayment, Holder's allocated portion of the Cap Amount equals the total number of shares of Common Stock issuable to Holder upon conversion of this Debenture on the date of such Default Notice. If the Corporation fails to pay the Default Amount within five (5) business days after its receipt of a Default Notice, then Holder shall be entitled to the remedies provided in Article VIII.C.

INABILITY TO CONVERT DUE TO CAP AMOUNT. A. OBLIGATION TO CUREObligation to Cure. If at any time the then unissued portion of Holder's Cap Amount is less than 135% of the number of shares of Class A Common Stock then issuable upon conversion of this Debenture (a "TRADING MARKET TRIGGER EVENTTrading Market Trigger Event"), the Corporation shall immediately notify the Holders of such occurrence and shall take immediate action (including, if necessary, seeking the approval of its shareholders to authorize the issuance of the full number of shares of Class A Common Stock which would be issuable upon the conversion of this Debenture but for the Cap Amount) to eliminate any prohibitions under applicable law or the rules or regulations of any stock exchange, interdealer quotation system or other self-regulatory organization with jurisdiction over the Corporation or any of its securities on the Corporation's ability to issue shares of Class A Common Stock in excess of the Cap Amount. In the event the Corporation fails to eliminate all such prohibitions within ninety one hundred twenty (90120) days after the Trading Market Trigger Event, Holder shall thereafter have the option, exercisable in whole or in part at any time and from time to time by delivery of a Default Notice (as defined in Article VIII.C) to the Corporation, to require the Corporation to pay for cash, at the Default Amount, a portion of the principal amount of this Debenture (and accrued and unpaid interest thereon) such that, after giving effect to such prepayment, Holder's allocated portion of the Cap Amount exceeds 135% of the total number of shares of Class A Common Stock issuable to Holder upon conversion of this Debenture on the date of such Default Notice. Additionally, if at any time and from time to time the then unissued portion of Holder's Cap Amount is less than the number of shares of Class A Common Stock then issuable upon conversion of this Debenture, Holder shall thereafter have the option, exercisable in whole or in part at any time and from time to time by delivery of a Default Notice (as defined in Article VIII.C) to the Corporation, to require the Corporation to pay for cash, at the Default Amount, a portion of the principal amount of this Debenture (and accrued and unpaid interest thereon) such that, after giving effect to such prepayment, Holder's allocated portion of the Cap Amount equals the total number of shares of Class A Common Stock issuable to Holder upon conversion of this Debenture on the date of such Default Notice. If the Corporation fails to pay the Default Amount within five (5) business days after its receipt of a Default Notice, then Holder shall be entitled to the remedies provided in Article VIII.C.