Examples of Effectiveness Failure in a sentence
Notwithstanding the foregoing, any Registration Delay Payments due and payable as a result of an Effectiveness Failure will accrue but remain unpaid for sixty (60) calendar days after such Effectiveness Failure (the “Effectiveness Cure Period”).
In the event the Company cures Effectiveness Failure the Effectiveness Cure Period, the accrued but unpaid Registration Delay Payments shall be forgiven.
A failure to cure the Effectiveness Failure in the Effectiveness Cure Period shall result in all Registration Delay Payments accrued and unpaid since the Effectiveness Failure to be due and payable.
Registration Delay Payments shall be paid on the day of the Filing Failure, Effectiveness Failure and the initial day of a Maintenance Failure, as applicable, and thereafter on the earlier of (I) the thirtieth day after the event or failure giving rise to the Registration Delay Payments has occurred and (II) the third Business Day after the event or failure giving rise to the Registration Delay Payments is cured.
Any reduction made to securities included in a Registration Statement in accordance with this Section 2(e) shall not constitute a Filing Failure, Effectiveness Failure or a Maintenance Failure and shall not be subject to the payment requirements under Section 2(d).