Common use of Failure to Maintain Effectiveness of a Registration Statement Clause in Contracts

Failure to Maintain Effectiveness of a Registration Statement. Subject to Section 1.1(e) hereto, in the event the Company fails to maintain the effectiveness of any Registration Statement (or the underlying prospectus) throughout the period set forth in Section 4.2, other than any temporary suspensions permitted by Section 1.1(e), and the Investor holds any Registrable Securities at any time during the period of such ineffectiveness (an "Ineffective Period"), the Company shall pay to the Investor in immediately available funds into an account designated by the Investor an amount equal to one percent (1%) of the aggregate Purchase Price of all of the Registrable Securities then held by the Investor for each thirty (30) calendar day period (prorated for partial periods) of such Ineffective Period. The payments required by this Section 1.1(d) shall be made on the first Trading Day after the expiration of an Ineffective Period (or if an Ineffective Period shall last more than thirty (30) calendar days, the expiration of each additional thirty (30) calendar day period of an Ineffective Period).

Failure to Maintain Effectiveness of a Registration Statement. Subject to Section 1.1(e) hereto, in the event the Company fails to maintain the effectiveness of any Registration Statement (or the underlying prospectus) throughout the period set forth in Section 4.2term of this Agreement, other than including any temporary suspensions permitted by Section 1.1(e), and the Investor holds any Registrable Securities at any time during the period of such ineffectiveness (an "Ineffective PeriodINEFFECTIVE PERIOD"), the Company shall pay to the Investor in immediately available funds into an account designated by the Investor an amount equal to one percent (1%) of the aggregate Purchase Price of all of the Registrable Securities then held by the Investor for each thirty (30) calendar day period (prorated for partial periods) of such Ineffective Period. The payments required by this Section 1.1(d) shall be made on the first Trading Day after the earliest to occur of (i) the expiration of the Commitment Period, and (ii) the expiration of an Ineffective Period (or if an Ineffective Period shall last more than thirty (30) calendar days, the expiration of each additional thirty (30) calendar day period days of an Ineffective Period).

Failure to Maintain Effectiveness of a Registration Statement. Subject to Section 1.1(e) hereto, in In the event the Company fails to maintain the effectiveness of any Registration Statement (or the underlying prospectus) throughout the period set forth in Section 4.2term of this Agreement, other than any temporary suspensions permitted by Section 1.1(e), and the Investor holds any Registrable Securities at any time during the period of such ineffectiveness (an "Ineffective Period"), the Company shall pay to the Investor in immediately available funds into an account designated by the Investor an amount equal to one percent (1%) of the aggregate Purchase Price of all of the Registrable Securities then held by the Investor for each thirty (30) calendar day period (prorated for partial periods) of such Ineffective Period; provided, that the Company shall be entitled to credit against any such payment the value of the Blackout Shares (based on the applicable New Bid Price) issued to the Investor pursuant to Section 2.6 of the Investment Agreement. The payments required by this Section 1.1(d) shall be made on the first Trading Day after the earliest to occur of (i) the expiration of the Commitment Period, and (ii) the expiration of an Ineffective Period (or if an Ineffective Period shall last more than thirty (30) calendar days, the expiration of each additional thirty (30) calendar day period days of an Ineffective Period).]