Common use of Regulatory Violation Clause in Contracts

Regulatory Violation. (1) Upon the occurrence of a Regulatory Violation (as defined below), in addition to any other rights and remedies to which it may be entitled (whether under this Agreement or any other agreement, the Articles of Incorporation or otherwise), such SBIC Holder shall have the right, to the extent required under Section 107.760(b) of the SBIC Regulations, to demand the immediate repurchase of all of the outstanding Securities owned by such SBIC Holder at a price equal to, with respect to the Notes, the aggregate unpaid principal amount (plus all accrued and unpaid interest thereon), with respect to the Series A Preferred, the aggregate liquidation preference thereon (plus all accrued and unpaid dividends thereon, whether or not declared) and with respect to the Warrants and the Warrant Stock, the purchase price paid by such SBIC Holder for such Warrants and Warrant Stock, by delivering written notice of such demand to the Company. The Company shall pay the purchase price for such Securities by a cashier's or certified check or by wire transfer of immediately available funds to such SBIC Holder within 30 days after the Company's receipt of the demand notice, and, upon such payment, such SBIC Holder shall deliver the certificates evidencing the Securities being repurchased duly endorsed for transfer or accompanied by duly executed forms of assignment.

Regulatory Violation. (1) Upon the occurrence of a Regulatory Violation (as defined below)Violation, in addition to any other rights and remedies to which it may be entitled as a holder of the Notes, the Warrants or the Underlying Common Stock (whether under this Agreement or any other agreementAgreement, the Articles Notes, the Warrants, the Company's Certificate of Incorporation or otherwise), such each SBIC Holder shall have the right, right to the extent required under Section 107.760(b) of the SBIC Regulations, Regulations to demand the immediate repurchase of all of the outstanding Securities and Underlying Common Stock owned by such SBIC Holder at a price equal to, with respect to the Notes, the aggregate unpaid principal amount (plus all accrued and unpaid interest thereon), with respect to the Series A Preferred, the aggregate liquidation preference thereon (plus all accrued and unpaid dividends thereon, whether or not declared) and with respect to the Warrants and the Warrant Stock, the purchase price paid by such SBIC Holder for such Warrants Securities and Warrant Underlying Common Stock, plus all accrued interest on the Notes, by delivering written notice of such demand to the Company. The Company shall pay the purchase price for such Securities and Underlying Common Stock by a cashier's or certified check or by wire transfer of immediately available funds to such each SBIC Holder demanding repurchase within 30 thirty (30) days after the Company's receipt of the demand notice, and, and upon such payment, each such SBIC Holder shall deliver the certificates evidencing the Securities being and Underlying Common Stock to be repurchased duly endorsed for transfer or accompanied by duly executed forms of assignment.

Regulatory Violation. (1) Upon the occurrence of a Regulatory Violation (as defined below)) or in the event that any SBIC Investor determines in its reasonable good faith judgment that a Regulatory Violation has occurred, in addition to any other rights and remedies to which it may be entitled (whether under this Agreement or any other agreement, the Articles of Incorporation or otherwise), such SBIC Holder Investor shall have the right, to the extent required under Section 107.760(b) of the SBIC Regulations, to demand the immediate repurchase of all of the outstanding Securities Preferred Stock owned by such SBIC Holder Investor at a price equal to, with respect to the Notes, the aggregate unpaid principal amount (plus all accrued and unpaid interest thereon), with respect to the Series A Preferred, the aggregate liquidation preference thereon (plus all accrued and unpaid dividends thereon, whether or not declared) and with respect to the Warrants and the Warrant Stock, the purchase price paid by such SBIC Holder for such Warrants and Warrant Stock, Preferred Stock hereunder plus accrued dividends by delivering written notice of such demand to the Company; PROVIDED, HOWEVER, that, in the event of a Regulatory Violation, any SBIC Investor shall, prior to demanding the repurchase of all of the outstanding shares of Preferred Stock owned by such SBIC Investor, use reasonable efforts to retain its investment in the Preferred Stock, including, without limitation, petitioning the SBA for its approval with respect to any unforeseen changes in the principal business activity of the Company. The Company shall pay the purchase price for such Securities shares of Preferred Stock by a cashier's or certified check or by wire transfer of immediately available funds to such SBIC Holder Investor within 30 thirty (30) days after the Company's receipt of the demand notice, and, upon such payment, such SBIC Holder Investor shall deliver the certificates certificates, if any, evidencing the Securities Preferred Stock being repurchased duly endorsed for transfer or accompanied by duly executed forms of assignment.