Common use of Right to Require Payment of Default Amount Clause in Contracts

Right to Require Payment of Default Amount. If the Corporation fails, and such failure continues uncured for five (5) business days after the Corporation has been notified thereof in writing by Holder, for any reason (other than because such issuance would exceed Holder's allocable portion of the Reserved Amount or Cap Amount, for which failures Holder shall have the remedies set forth in Articles III and V, respectively) to issue shares of Common Stock within ten (10) business days after the expiration of the Delivery Period with respect to any exercise of this Warrant, then Holder may elect at any time prior to the Default Cure Date for such Exercise Default, by delivery of a Default Notice (as defined in Article VI.C.) to the Corporation, to require the Corporation to pay to Holder an amount in cash equal to the Default Amount (as defined in Article VI.B). Upon payment by the Corporation of the Default Amount, this Warrant shall be null and void. If the Corporation fails to pay such 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 VI.C.

Right to Require Payment of Default Amount. If the Corporation fails, and such failure continues uncured for five (5) business days after the Corporation has been notified thereof in writing by HolderHoldxx, for xxr any reason (other than because such issuance would exceed Holder's allocable Holdxx'x xllocable portion of the Reserved Amount or Cap Amount, for which failures Holder shall have the remedies set forth in Articles III and V, respectively) to issue shares of Common Stock within ten (10) business days after the expiration of the Delivery Period with respect to any exercise of this Warrant, then Holder may elect at any time prior to the Default Cure Date for such Exercise Default, Default by delivery of a Default Notice (as defined in Article VI.C.VI.C) to the Corporation, to require the Corporation to pay to Holder an amount in cash equal to the Default Amount (as defined in Article VI.B). Upon payment by the Corporation of the Default Amount, this Warrant shall be null and void. If the Corporation fails to pay such 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 VI.C.

Right to Require Payment of Default Amount. If the Corporation fails, and such failure continues uncured for five (5) business days after the Corporation has been notified thereof in writing by Holder, for any reason (other than because such issuance would exceed Holder's allocable portion of the Reserved Amount or Cap Amount, for which failures Holder shall have the remedies set forth in Articles III and V, respectively) to issue shares of Common Stock within ten (10) business days after the expiration of the Delivery Period with respect to any exercise of this Warrant, then Holder may elect at any time prior to the Default Cure Date for such Exercise Default, Default by delivery of a Default Notice (as defined in Article VI.C.VI.C) to the Corporation, to require the Corporation to pay to Holder an amount in cash equal to the Default Amount (as defined in Article VI.B). Upon payment by the Corporation of the Default Amount, this Warrant shall be null and void. If the Corporation fails to pay such 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 VI.C.