Common use of Failure to Comply with the 1934 Act Clause in Contracts

Failure to Comply with the 1934 Act. So long as the Buyer beneficially owns the Note, the Company shall comply with the reporting requirements of the 1934 Act; and the Company shall continue to be subject to the reporting requirements of the 1934 Act. Notwithstanding anything herein to the contrary the late filing of a Form 8-K or the filing of an Form 12b-25 with regards to a Form 10-Q or a Form 10-K shall not be considered a breach of the Agreement (so long as the Form 10-Q or 10-K are filed within the time period allotted to it under Form 12b-25).

Failure to Comply with the 1934 Act. So long as the Buyer beneficially owns the Note, the Company shall comply with the reporting requirements of the 1934 Act; and the Company shall continue to be subject to the reporting requirements of the 1934 Act. Notwithstanding anything herein If, after giving effect to any as of right extension, the Company fails to comply with the 1934 Act until such time as it shall cure such failure, the Interest Rate, as defined in the Purchase Agreement, shall increase by an additional 1% per month for each month that the Company fails to comply. Such 1% shall be paid to the contrary the late filing of Holder on a Form 8-K or the filing of an Form 12b-25 with regards to a Form 10-Q or a Form 10-K shall not be considered a breach of the Agreement (so long as the Form 10-Q or 10-K are filed within the time period allotted to it under Form 12b-25).monthly basis

Failure to Comply with the 1934 Act. So long as the Buyer Buyers beneficially owns own the NoteNotes, the Company shall comply with the reporting requirements of the 1934 Act; and the Company shall continue to be subject to the reporting requirements of the 1934 Act. Notwithstanding anything herein to ; provided, however, if the contrary the late filing of a Company files its Annual Report on Form 810-K or for the filing of an Form 12b-25 with regards to a fiscal year ended December 31, 2015 by May 31, 2016 and its Quarterly Report on Form 10-Q or a Form 10-K for the fiscal quarter ended March 31, 2016 by June 30, 2016, the Company shall not be considered a breach in default in respect of the Agreement (so long as the Form 10-Q or 10-K are filed within the time period allotted to it under Form 12b-25)this covenant.