Examples of Filing Default in a sentence
On or after such 90th day, or if the Company elects to pay the Additional Extension Fee, the 120th day (if the Filing Default has not been cured or waived prior to such 90th or 120th day, as applicable) after the Filing Default, the Trustee or the holders of not less than 25% in principal amount of the Notes may declare the principal of and accrued and unpaid interest (including Additional Interest) on all such Notes to be due and payable immediately.
If the Extension Fee and, if applicable, the Additional Extension Fee is payable under this Section 5.01, on the date the Company elects to pay the Extension Fee or the Additional Extension Fee, the Company shall deliver to the Trustee a certificate to that effect stating (i) the amount of Extension Fee and, if applicable, the Additional Extension Fee that is payable, and (ii) the Filing Default Date.
If the Company elects to pay the Extension Fee or the Additional Extension Fee, such fee shall be payable in respect of all Notes outstanding on the date on which the related Filing Default first occurs, which will be the 60th day after notice to the Company of its failure to so comply (the “Filing Default Date”).
Any Liquidated Damages payable with respect to a Filing Default shall accrue from and including the day after the last day of the applicable time period specified in Section 2.1(d) to but excluding the earliest to occur of (1) the date such Filing Default is cured, (2) the expiration of the Effectiveness Period or (3) the date on which the relevant Notes either (i) cease to be Registrable Securities or (ii) are converted into Common Stock.
In order to elect to pay the Extension Fee and, if applicable, the Additional Extension Fee as the sole remedy for a Filing Default during the first 90 or 120 days, as applicable, after the occurrence of such Event of Default, the Company shall notify, in the manner provided for in Section 15.03, the Noteholders and the Trustee of such election at any time on or before the Close of Business on the Filing Default Date.
In no event shall Additional Interest pursuant to this Section 6.03, together with any Additional Interest payable pursuant to Section 4.06(d) as a result of a Filing Default, accrue at a rate in excess of 0.50% per annum, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.
The Company shall file such Registration Statement no later than ninety (90) days after the Closing Date (the “Filing Default”), and shall use reasonable best efforts to cause such Registration Statement to become effective within one hundred and fifty (150) days after the Closing Date (the “Effectiveness Default”, and each of an Effectiveness Default and a Filing Default, a “Registration Default”).
In connection with the financing activity with Ionic, the Company issued 15,000 Ordinary Shares as Filing Default Shares and 10,000 Effectiveness Default Shares.On May 6, 2021, the Company issued 80,232 Ordinary Shares as compensation fees to two service for marketing and promotion services of the Company.
Any Liquidated Damages payable with respect to a Filing Default shall accrue from the last day of the applicable time period specified in Section 2.1(d) until the earlier of (1) the date such Filing Default is cured or (2) the expiration of the Effectiveness Period.
The liquidated damages will apply on a daily pro-rata basis for any portion of a month prior to curing of the Filing Default.