Penalty Payments. The Employer shall not be liable for more than one (1) penalty payment for the same hours worked under this Agreement.
Penalty Payments. In the event that the Registration Statement relating to the resale of the Registrable Stock is not (i) filed with the Commission by the Company on or before the File Date, or (ii) declared effective by the Commission within 120 days of the Closing date, then, the Company shall pay the Investors the following amounts ("Penalty Payments"): (i) 1% of the purchase price of the Stock (the "Purchase Price") paid by the Investors to the Company if (A) the Registration Statement is not filed with the Commission by the File Date, and/or (B) the Registration Statement is not declared effective by the Commission within 120 days of the Closing date, (ii) all additional 1% of the Purchase Price if the Registration Statement is not declared effective by the Commission within 150 days of the Closing date, and (iii) an additional 3% of the Purchase Price for each 30-day period thereafter in which the Registration Statement is not declared effective by the Commission. Penalties for failure to file and/or to obtain effectiveness shall be cumulative. The Company shall be liable to the Investor for a full 30-day period, determined in accordance with the above schedule, regardless of by how many days it misses one of the targeted filing or effective dates set forth above. All such Penalty Payments shall be immediately payable by the Company to the Investors (on a pro rata basis based on the number of shares of Stock purchased by each under the Purchase Agreement) via wire transfer of immediately available funds by the close of business on last day of each respective period set forth above.
Penalty Payments. Roche shall pay fees due to FMI pursuant to Sections 6.1.2.4 (Regulatory Partner), 7.3.1 (F1CDx Initial Launch Plan), and 7.3.2 (Subsequent Claim Filings and Non-Regulated Updates) (each, a “Penalty Payment”), if any, within […***…] following Roche’s receipt of an invoice therefor.
Penalty Payments. 37.1 The provisions of this clause 37 are to be read in conjunction with subclauses 42.7(d) and 42.7(e) (Rate of Pay).
Penalty Payments. In the event that either the University License Agreement or the Sublicense Agreement are terminated during the term of this Agreement, Licensor shall pay to Licensee one half of all direct expenses and costs Licensee has incurred on the research and development of the compounds, technology or Products pursued under this Agreement which exceed the cumulative gross profit earned by Licensee on such Products as of the date of termination of such agreement.
Penalty Payments. In the event LICENSEE has not (i) initiated recruitment of patients for a Phase III Clinical Trial for the Licensed Products, or (ii) initiated the filing of a NDA within six (6) months of signing this Agreement, LICENSEE shall pay LICENSOR one hundred thousand dollars ($100,0,00) within seven (7) calendar days of the six (6) month anniversary of the Effective Date of this Agreement.
Penalty Payments. In the event that either the Ole Miss License Agreement, the UT License Agreement or the Sublicense Agreement are terminated during the term of this Agreement, Licensor shall pay to Licensee one half of all direct expenses and costs Licensee has incurred on the research and development of the compounds, technology or Products pursued under this Agreement which exceed the cumulative gross profit earned by Licensee on such Products as of the date of termination of such agreement.
Penalty Payments. (a) The Parties hereto agree that in the event that the Company and the Founder, on the one hand, breach the provisions of Section 5.7, or China Growth, on the other hand, breaches the provisions of Section 6.3, as applicable, then, if within six (6) months after such breach, the breaching Party closes any transaction or financing relating to the capital stock, debt, assets or business, in whole or in part, whether through direct purchase, merger, consolidation or other business combinations; the breaching Party(s) shall pay to the non- breaching Party the sum of US$3 million, plus non-breaching Party’s reasonable costs incurred in enforcing this Section, within thirty (30) days after request by the non-breaching Party.
(b) The Company and the Founder shall be jointly and severally liable for any amounts payable to China Growth under this Section 9.8.
(c) Any amounts payable by China Growth under this Section 9.8, shall be assumed by Xuesong Song and Xxx Xxx pursuant to the Assumption Agreement.
Penalty Payments. If the entire Payment due hereunder is not received by the Lender on or before the date three (3) months from the date of this Note (the "Penalty Date"), then the Lender shall be entitled to receive, for each month after the Penalty Date in which any portion of the Payment is still outstanding, a warrant to purchase ___ (____) shares of common stock of the Borrower [one half of one share per dollar of principal amount loaned], with a per share exercise price of Fifty Cents ($0.50) per share ("Warrant Payment"). The first Warrant Payment shall be due on the first day after the Penalty Date, and shall continue each month thereafter until the Payment has been paid in full. Should repayment be delayed beyond one month from the Penalty Date, additional warrant(s) shall be issued on each one month anniversary of the first day after the Penalty Date.
Penalty Payments. In the event that the Registration Statement ---------------- relating to the resale of the Registrable Stock is not (i) filed with the Commission by the Company on or before the File Date and/or the Company has not exercised its best efforts to facilitate the Registration Statement being declared effective within 90 days of the date hereof, or (ii) declared effective by the Commission by December 31, 1998, then, the Company shall pay the Investors the following amounts ("Penalty Payments"): (i) 1% of the purchase price of the Preferred Stock and Warrants (the "Purchase Price") paid by the Investors to the Company for the first 30-day period in which the Company is not in compliance with any of the above provisions; (ii) an additional 1% of the Purchase Price for the next 30-day period in which the Company is not in compliance with any of the above provisions; and (iii) 3% of the Purchase Price for each 30-day period thereafter in which the Registration Statement is not declared effective by the Commission. Penalties for failure to file and/or to obtain effectiveness shall be cumulative, but in no event shall the aggregate of all such Penalty Payments paid hereunder exceed 100% of the Purchase Price . The Company shall be liable to the Investor for a full 30-day period, determined in accordance with the above schedule, regardless of by how many days it misses one of the targeted filing or effective dates set forth above. All such Penalty Payments shall be immediately payable by the Company to the Investors (on a pro rata basis based on the number of shares of Preferred Stock purchased by each under the Purchase Agreement) via wire transfer or Company check by the close of business on last day of each respective period set forth above. 6.
