No Violation of Applicable Law. Notwithstanding any provision of this Agreement to the contrary, if the redemption of Debentures or Debenture Shares otherwise required under this Agreement or the Registration Rights Agreement would be prohibited by the relevant provisions of the General Corporation Law of the State of Delaware, such redemption shall be effected as soon as it is permitted under such law; provided, however, that from the fifth (5th) day after such redemption notice until such redemption price is paid in full, interest on any such unpaid amount shall accrue and be payable at the rate of 15% per annum in accordance with the Debentures.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Endocare Inc), Securities Purchase Agreement (Endocare Inc)
No Violation of Applicable Law. Notwithstanding any provision of this Agreement to the contrary, if the redemption of Debentures or Debenture Shares shares of Preferred Stock otherwise required under this Agreement or the Registration Rights Agreement would be prohibited by the relevant provisions of the Delaware General Corporation Law of the State of DelawareLaw, such redemption shall be effected as soon as it is permitted under such law; provided, however, that from the fifth (5th) day after such redemption notice until such redemption price is paid in full, interest on any such unpaid amount shall accrue and be payable at the rate of 15% per annum in accordance with the Debenturesapplicable Certificate of Designation.
Appears in 2 contracts
Samples: Exchange Agreement (Level 8 Systems Inc), Securities Purchase Agreement (Level 8 Systems Inc)
No Violation of Applicable Law. Notwithstanding any provision of this Agreement to the contrary, if the redemption of Debentures the Shares or Debenture Underlying Shares otherwise required under this Agreement or the Registration Rights Agreement would be prohibited by the relevant provisions of the Delaware General Corporation Law of the State of DelawareLaw, such redemption shall be effected as soon as it is permitted under such law; provided, however, that from the fifth (5th) 5th day after such redemption notice until such redemption price is paid in full, interest on any such unpaid amount shall accrue and be payable at the rate of 15% per annum in accordance with the Debenturesannum.
Appears in 2 contracts
Samples: Convertible Preferred Stock Purchase Agreement (Usci Inc), Convertible Preferred Stock Purchase Agreement (Usci Inc)
No Violation of Applicable Law. Notwithstanding any provision of this Agreement to the contrary, if the redemption of Debentures Shares or Debenture Underlying Shares otherwise required under this Agreement or the Registration Rights Agreement would be prohibited by the relevant provisions of the Delaware General Corporation Law of the State of DelawareLaw, such redemption shall be effected as soon as it is permitted under such law; provided, however, that from interest payable by the fifth (5th) day after Company with respect to any such redemption notice until such redemption price is paid in full, interest on any such unpaid amount shall continue to accrue and be payable at the rate of 15% per annum in accordance with the DebenturesSection 3.11.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Illinois Superconductor Corporation), Convertible Preferred Stock Purchase Agreement (Xoma Corp /De/)
No Violation of Applicable Law. Notwithstanding any provision of this Agreement to the contrary, if the redemption of Debentures Shares or Debenture Underlying Shares otherwise required under this Agreement or the Registration Rights Agreement any other Transaction Document would be prohibited by the relevant provisions of the Delaware General Corporation Law of the State of DelawareLaw, such redemption shall be effected as soon as it is permitted under such law; provided, however, that from the fifth (5th) 5th day after such redemption notice until such redemption price is paid in full, interest on any such unpaid amount shall accrue and be payable at the rate of 15% per annum in accordance with the Debenturesannum.
Appears in 1 contract
No Violation of Applicable Law. Notwithstanding any provision of this Agreement to the contrary, if the redemption of Debentures Shares or Debenture Underlying Shares otherwise required under this Agreement or the Registration Rights Agreement would be prohibited by the relevant provisions of the Delaware General Corporation Law of the State of DelawareLaw, such redemption shall be effected as soon as it is permitted under such law; provided, however, that from the fifth (5th) 5th day after such redemption notice until such redemption price is paid in full, interest on any such unpaid amount shall accrue and be payable at the rate of 15% per annum in accordance with the Debenturesannum.
Appears in 1 contract
Samples: Convertible Preferred Stock Purchase Agreement (Cytogen Corp)
No Violation of Applicable Law. Notwithstanding any provision of this Agreement to the contrary, if the any redemption of Debentures Shares, Warrants, Underlying Shares or Debenture Warrant Shares otherwise required under this Agreement or the Registration Rights Agreement Transaction Documents would be prohibited by the relevant provisions of the Delaware General Corporation Law of the State of DelawareLaw, such redemption shall be effected as soon as it is permitted under such law; providedPROVIDED, however, that from that, interest payable by the fifth (5th) day after Company with respect to any such redemption notice until such redemption price is paid in full, interest on any such unpaid amount shall continue to accrue and be payable at the rate of 15% per annum in accordance with the DebenturesSection 4.10 during any such period.
Appears in 1 contract
Samples: Convertible Preferred Stock Purchase Agreement (National Registry Inc)
