Common use of Delay in Effectiveness of Registration Statement Clause in Contracts

Delay in Effectiveness of Registration Statement. If the Registration Statement is not filed by the Company with the Commission on or prior to the Filing Date, then for each month, consisting of a thirty (30) day period (a "Month") (or pro rata portion thereof), following the Filing Date, until but excluding the date the Registration Statement is filed, or if the Registration Statement is not declared effective by the Commission by the Required Effective Date, then for each Month (or pro rata portion thereof) following the Required Effective Date, until but excluding the date the Commission declares the Registration Statement effective, the Company shall, for each such Month (pro rated for any period less than thirty (30) days), pay the Purchaser with respect to any such failure, as liquidated damages and not as a penalty, an amount equal to one and one-half percent (1.5%) of the aggregate purchase price paid by such Purchaser for its Shares pursuant to this Agreement; and for any such Month, such payment shall be made no later than the fifth (5th) business day of the calendar month next succeeding the applicable Month for which payment is to be made by the Company. Notwithstanding the foregoing provisions, in no event shall the Company be obligated to pay such liquidated damages to more than one Purchaser in respect of the same Shares for the same period of time and in no event shall the Company be required to pay aggregate liquidated damages under this Section 7.7 in excess of twenty-five percent (25%) of the aggregate purchase price paid by the Purchasers for the Shares pursuant to this Agreement. Such payments shall be made to the Purchaser in cash.

Delay in Effectiveness of Registration Statement. If the (a) a Registration Statement covering the Shares is not filed declared effective by the Company with the Commission on or prior to the Filing Datelater of the Effectiveness Deadline or the expiration of the Lock Up Period (as defined in Exhibit A), then for each month, consisting of a thirty (30) day period (a "Month") (or pro rata portion thereof), following the Filing Date, until but excluding later of the date Effectiveness Deadline or the Registration Statement is filed, or if expiration of the Registration Statement is not declared effective by the Commission by the Required Effective Date, then for each Month (or pro rata portion thereof) following the Required Effective DateLock Up Period, until but excluding the date the Commission declares the Registration Statement effective, the Company shall, for each such Month (pro rated for any period less than thirty (30) days)day, pay the each Purchaser with respect to any such failure, as liquidated damages and not as a penalty, an amount per thirty (30)-day period equal to one and one-half percent (1.5%) 1.0% of the aggregate purchase price paid by such Purchaser for its Shares pursuant to this AgreementAgreement (calculated on a daily pro rata basis for any portion of such thirty (30)-day period prior to the cure of such failure); and for any such Monththirty (30)-day period (or earlier period if such failure is cured prior to thirty (30) days), such payment shall be made no later than the fifth three (5th3) business day of the calendar month next succeeding the applicable Month for which payment Business Days following such thirty (30)-day period (or earlier period if such failure is cured prior to be made by the Companythirty (30) days). Notwithstanding the foregoing provisions, in no event shall the Company be obligated to pay such any liquidated damages pursuant to this Section 6.6 to more than one Purchaser in respect of the same Shares for the same period of time and or in no event shall the Company be required to pay an aggregate liquidated damages under this Section 7.7 in excess of twenty-five percent (25%) amount that exceeds 5% of the aggregate purchase price paid by the Purchasers for the Shares pursuant to this Agreement. Such payments shall be made to the Purchaser Purchasers in cash.

Delay in Effectiveness of Registration Statement. If the Registration Statement is not filed by the Company with the Commission on or prior to the Filing Date, then for each month, consisting of a thirty (30) day period (a "“Month"”) (or pro rata portion thereof), following the Filing Date, until but excluding the date the Registration Statement is filed, or if the Registration Statement is not declared effective by the Commission by the Required Effective Date, then for each Month (or pro rata portion thereof) following the Required Effective Date, until but excluding the date the Commission declares the Registration Statement effective, the Company shall, for each such Month (pro rated for any period less than thirty (30) days), pay the Purchaser with respect to any such failure, as liquidated damages and not as a penalty, an amount equal to one and one-half percent (1.5%) of the aggregate purchase price paid by such Purchaser for its Shares Units pursuant to this Agreement; and for any such Month, such payment shall be made no later than the fifth (5th) business day of the calendar month next succeeding the applicable Month for which payment is to be made by the Company. Notwithstanding the foregoing provisions, in no event shall the Company be obligated to pay such liquidated damages to more than one Purchaser in respect of the same Shares for the same period of time and in no event shall the Company be required to pay aggregate liquidated damages under this Section 7.7 in excess of twenty-five twelve percent (2512%) of the aggregate purchase price paid by the Purchasers for the Shares Units pursuant to this Agreement. Such payments shall be made to the Purchaser in cash.

Delay in Effectiveness of Registration Statement. If the (a) a Registration Statement covering the Shares and Warrant Shares is not filed on or prior to the Filing Deadline or declared effective by the Company with the Commission on or prior to the Filing DateEffectiveness Deadline, then for each month, consisting of a thirty (30) day period (a "Month") (or pro rata portion thereof), following the Filing Date, Effectiveness Deadline until but excluding the date the Registration Statement is filed, Company files or if the Registration Statement is not declared effective by the Commission by the Required Effective Date, then for each Month (or pro rata portion thereof) following the Required Effective Date, until but excluding the date the Commission declares effective the Registration Statement effectiveStatement, as the case may be, the Company shall, for each such Month (pro rated for any period less than thirty (30) days)day, pay the each Purchaser with respect to any such failure, as liquidated damages and not as a penalty, an amount per thirty (30)-day period equal to one and one-half percent (1.5%) 1.0% of the aggregate purchase price paid by such Purchaser for its Shares and Warrant Shares pursuant to this AgreementAgreement (calculated on a daily pro rata basis for any portion of such thirty (30)-day period prior to the cure of such failure); and for any such Monththirty (30)-day period (or earlier period if such failure is cured prior to thirty (30) days), such payment shall be made no later than the fifth three (5th3) business day of the calendar month next succeeding the applicable Month for which payment Business Days following such thirty (30)-day period (or earlier period if such failure is cured prior to be made by the Companythirty (30) days). Notwithstanding the foregoing provisions, in no event shall the Company be obligated to pay such any liquidated damages pursuant to this Section 6.5 to more than one Purchaser in respect of the same Shares or Warrant Shares for the same period of time and or in no event shall the Company be required to pay an aggregate liquidated damages under this Section 7.7 in excess of twenty-five percent (25%) amount that exceeds 6.0% of the aggregate purchase price paid by the Purchasers for the Shares and Warrant Shares pursuant to this Agreement. Such payments shall be made to the Purchaser Purchasers in cash.