Penalty for Failure to Fund. By March 31st of each year, the Company and Rusnano will calculate the amount of Russian Funding actually transferred by the Company to RusCo for such applicable Period (the "Actual Funding Amount"). In the event that the Company fails to meet its funding obligations to RusCo for such Period (as set forth in Section 2.1 above), the Company shall pay a one-time penalty fee to RUSNANO (the "Penalty"), calculated as follows : Penalty = 10% x (0.8 x A - B) Where: A = The Investment Amount B = The Actual Funding Amount For the avoidance of doubt, a separate penalty shall be assessed for each fiscal year during which the Company fails to meet its funding obligations to RusCo as set forth in Section 2.1.
Appears in 3 contracts
Samples: Agreement Regarding Investment in Series F Preferred Stock Financing (Quantenna Communications Inc), Agreement Regarding Investment in Series F Preferred Stock Financing (Quantenna Communications Inc), Agreement Regarding Investment in Series F Preferred Stock Financing (Quantenna Communications Inc)
Penalty for Failure to Fund. By March 31st of each year, the Company and Rusnano will calculate the amount of Russian Funding actually transferred by the Company to RusCo for such applicable Period (the "Actual Funding Amount"). In the event that the Company fails to meet its funding obligations to RusCo for such Period (as set forth in Section 2.1 above), the Company shall pay a one-time penalty fee to RUSNANO (the "Penalty"), calculated as follows : Penalty = 10% x (0.8 x A - B) Where:
A = The Investment Amount
Amount B = The Actual Funding Amount For the avoidance of doubt, a separate penalty shall be assessed for each fiscal year during which the Company fails to meet its funding obligations to RusCo as set forth in Section 2.1.
Appears in 1 contract
Samples: Agreement Regarding Investment in Convertible Promissory Notes (Quantenna Communications Inc)
