Late Issuance Sample Clauses

Late Issuance. Upon conversion of this Convertible Debenture, in whole or in part, if the Holder does not receive the Common Shares within three (3) trading days after the conversion of this Convertible Debenture (a “Late Issuance”), the Corporation shall pay to the Holder the greater of (i) one thousand dollars (CAD$1,000) per trading day of delay in the delivery of the Common Shares, and (ii) an amount equal to the difference (if positive) between the closing price of the Common Shares four (4) trading days after the conversion of this Convertible Debenture and the closing price of the Common Shares on the trading day immediately prior to the date on which the relevant Common Shares are effectively issued to the Holder, for each new Common Share which was issued upon the relevant conversion of the Debentures. Notwithstanding the foregoing, if, prior to the delivery of the relevant Common Shares to the Holder, an Event of Default occurs of the type described in clause (ii) of the definition thereof and the Holder elects to require the Corporation to immediately to pay in cash all or any of this Convertible Debenture in respect of such Late Issuance in accordance with Section 2.1(b), then the Corporation shall pay to the Holder the amount calculated in accordance with this Section 2.6, up to and including the date the Holder’s notice to the Corporation of its redemption election is to be delivered pursuant to Section 2.1(b) concurrently with the redemption payment for the amount of the Outstanding Principal of this Convertible Debenture so redeemed. The Corporation shall pay any payments incurred under this section in immediately available funds upon demand.
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Late Issuance. Upon exercise of the right to subscribe and purchase Warrants Shares as provided herein, in whole or in part, if the Holder does not receive the Common Shares within ten
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Late Issuance. Upon conversion of the Debentures or exercise of the Warrants, if the Investor does not receive the relevant Common Shares within three (3) trading days after the date of such conversion or exercise (as applicable, a Late Issuance), the Corporation shall pay to the Investor the greater of (i) one thousand dollars ($1,000) per trading day of delay in the delivery of the Common Shares; and (ii) an amount equal to the difference (if positive) between the closing price of the Common Shares four (4) trading days after the date of such conversion or exercise, as applicable, and the closing price of the Common Shares on the trading day immediately prior to the date on which the relevant Common Shares are issued to the Investor, for each new Common Share which was issued upon the relevant conversion of the Debentures or the relevant exercise of the Warrants, as applicable. Notwithstanding the foregoing, if, prior to the delivery of the relevant Common Shares to the Investor, an Event of Default occurs of the type described in clause (ii) of the definition thereof and the Investor elects to require the Corporation to immediately redeem in cash all or any of its Debentures subject to the conversion in respect of such Late Issuance in accordance with Section 2.2(d), then the Corporation shall pay to the Investor the amount calculated in accordance with this Section 2.2(e), up to and including the date the Investor’s notice to the Corporation of its redemption election is to be delivered pursuant to Section 2.2(d) concurrently with the redemption payment for the Debentures so redeemed. The Corporation shall pay any payments incurred under this section in immediately available funds upon demand.
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Late Issuance. Upon exercise of the right to subscribe and purchase Warrants Shares as provided herein, in whole or in part, if the Holder does not receive the Common Shares within five (5) trading days (a “Late Issuance”), the Corporation shall pay to the Holder the greater of (i) one thousand dollars (US$1,000) per trading day of delay in the delivery of the Common Shares, and (ii) an amount equal to the difference (if positive) between the closing price of the Common Shares eleven (11) trading days after delivery of the executed Subscription Form and the closing price of the Common Shares on the trading day immediately prior to the date on which the relevant Common Shares are effectively issued to the Holder, for each new Common Share which was issued upon the relevant exercise of the right to subscribe and purchase Warrants Shares. For the purpose of this Section 17 only, “trading day” has the meaning specified in the Subscription Agreement.
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Late Issuance. Upon exercise of the right to subscribe and purchase Warrants Shares as provided herein, in whole or in part, if the Holder does not receive the Common Shares within ten (10) trading days (a “Late Issuance”), the Corporation shall pay to the Holder the greater of
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Late Issuance. Upon conversion of Debentures, if the holder does not receive the relevant Common Shares within five (5) trading days (a Late Issuance), the Corporation shall pay to the holder the greater of (i) one thousand dollars ($1,000) per trading day of delay in the delivery of the Common Shares; and (ii) an amount equal to the difference (if positive) between the closing price of the Common Shares six (6) trading days after the Conversion Notice date and the closing price of the Common Shares on the trading day immediately prior to the date on which the relevant Common Shares are issued to the holder, for each new Common Share which was issued upon the relevant conversion of the Debentures. Notwithstanding the foregoing, if, prior to the delivery of the relevant Common Shares to the holder, an Event of Default occurs of the type described in clause
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Late Issuance. Upon conversion of the Debentures and the exercise of the Warrants, in whole or in part, if the Investor does not receive a copy of the DRS advice reflecting the issuance of the relevant Common Shares to be issued with respect to the conversion of such Debentures and/or exercise of such Warrants within two (2) Business Days following the delivery of a Conversion Notice or Warrant Exercise Notice (as applicable, a “Late Issuance”), the Corporation shall pay to the Investor the greater of (i) one thousand dollars ($1,000) per Business Day of delay in the delivery of the DRS advice with respect to the relevant Common Shares; and (ii) for each Common Share issued upon the conversion of the Debentures or the exercise of the Warrants, as applicable, an amount equal to the difference (if positive) between
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Late Issuance. Upon conversion of the Outstanding Principal, in whole or in part, if the Holder does not receive a copy of the DRS advice reflecting the issuance of the relevant Common Shares to be issued with respect to the conversion of such Debentures within two (2) Business Days following delivery of a Conversion Notice or the Maturity Date (a “Late Issuance”), as applicable, the Corporation shall pay to the Holder the greater of: (a) one thousand dollars ($1,000) per Business Day of delay in the delivery of the DRS advice with respect to the relevant Common Shares; and (b) for each Conversion Share which issued upon the relevant conversion of Outstanding Principal, an amount equal to the difference (if positive) between (i) the closing price of the Common Shares two (2) Business Days after the date of delivery of the Conversion Notice or the Maturity Date, as applicable, and (ii) the closing price of the Common Shares on the Business Day immediately prior to the date on which the DRS advice with respect to the relevant Conversion Shares is delivered to the Holder. Notwithstanding the foregoing, in connection with a Late Issuance, if, prior to the delivery to the Holder of the DRS advice with respect to the relevant Conversion Shares, an Event of Default occurs of the type described in clause (b) of the definition thereof and the Holder elects to require the Corporation to immediately redeem in cash all or any of this Convertible Debenture in respect of such Late Issuance in accordance with Section 2.2(b), then the Corporation shall pay to the Holder the amount calculated in accordance with this Section 2.6, up to and including the date the Holder’s notice to the Corporation of its redemption election is to be delivered pursuant to Section 2.2(b) concurrently with the redemption payment for the amount of the Outstanding Principal so redeemed. The Corporation shall pay any payments incurred under this section in immediately available funds upon demand.
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Late Issuance. Upon exercise of the Warrants, in whole or in part, if the Holder does not receive a copy of the DRS advice reflecting the issuance of the relevant Warrant Shares to be issued with respect to the exercise of such Warrants within two (2) Business Days following the delivery of an Exercise Notice (a “Late Issuance”), the Company shall pay to the Holder the greater of (i) one thousand dollars ($1,000) per business day of delay in the delivery of the DRS advice with respect to the relevant Warrant Shares; and (ii) for each new Warrant Share which was issued upon the relevant exercise of the Warrants, an amount equal to the difference (if positive) between‌
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Related to Late Issuance

  • Issuance Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which the Issuing Lenders may reasonably require, during the Commitment Period each Issuing Lender shall issue, and the Revolving Lenders shall participate in, Letters of Credit for the account of the Borrower from time to time upon request in a form acceptable to the applicable Issuing Lender; provided, however, that (i) the aggregate principal amount of LOC Obligations shall not at any time exceed THIRTY-SEVEN MILLION, FIVE HUNDRED THOUSAND DOLLARS ($37,500,000) (the “LOC Committed Amount”), (ii) the sum of the aggregate principal amount of outstanding Revolving Loans plus the aggregate principal amount of outstanding LOC Obligations shall not at any time exceed the Revolving Committed Amount then in effect, (iii) no Issuing Lender will be required to issue Letters of Credit in an aggregate amount in excess of such Issuing Lender’s Issuing Lender Sublimit, (iv) all Letters of Credit shall be denominated in Dollars and (v) Letters of Credit shall be issued for any lawful corporate purposes and may be issued as standby letters of credit, including in connection with workers’ compensation and other insurance programs and commercial letters of credit. Except as otherwise expressly agreed upon by all the Revolving Lenders, no Letter of Credit shall have an original expiry date more than twelve (12) months from the date of issuance; provided, however, so long as no Default or Event of Default has occurred and is continuing and subject to the other terms and conditions to the issuance of Letters of Credit hereunder, the expiry dates of Letters of Credit may be extended annually or periodically from time to time on the request of the Borrower or by operation of the terms of the applicable Letter of Credit to a date not more than twelve (12) months from the date of extension; provided, further, that no Letter of Credit, as originally issued or as extended, shall have an expiry date extending beyond the date that is thirty (30) days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance and expiry date of each Letter of Credit shall be a Business Day. Each Letter of Credit issued hereunder shall be in a minimum original face amount of $100,000 or such lesser amount as approved by the applicable Issuing Lender. The Borrower’s Reimbursement Obligations in respect of each Existing Letter of Credit, and each Revolving Lender’s participation obligations in connection therewith, shall be governed by the terms of this Credit Agreement. The Existing Letters of Credit shall, as of the Closing Date, be deemed to have been issued as Letters of Credit hereunder and subject to and governed by the terms of this Agreement.

  • Valid Issuance All shares of Common Stock issued upon the proper exercise of a Warrant in conformity with this Agreement shall be validly issued, fully paid and non-assessable.

  • Share Issuance Subject to the provisions of this Section, if the Borrower at any time shall issue any shares of Common Stock prior to the conversion of the entire principal amount of the Note (otherwise than as: (i) provided in Sections 2.1(c)A, 2.1(c)B or 2.1(c)C or this subparagraph D; (ii) pursuant to options, warrants, or other obligations to issue shares, outstanding on the date hereof as described in the Reports and Other Written Information, as such terms are defined in the Subscription Agreement (which agreement is incorporated herein by this reference); or (iii) Excepted Issuances, as defined in Section 12 of the Subscription Agreement; ((i), (ii) and (iii) above, are hereinafter referred to as the "Existing Option Obligations") for a consideration less than the Conversion Price that would be in effect at the time of such issue, then, and thereafter successively upon each such issue, the Conversion Price shall be reduced as follows: (i) the number of shares of Common Stock outstanding immediately prior to such issue shall be multiplied by the Conversion Price in effect at the time of such issue and the product shall be added to the aggregate consideration, if any, received by the Borrower upon such issue of additional shares of Common Stock; and (ii) the sum so obtained shall be divided by the number of shares of Common Stock outstanding immediately after such issue. The resulting quotient shall be the adjusted conversion price. Except for the Existing Option Obligations, for purposes of this adjustment, the issuance of any security of the Borrower carrying the right to convert such security into shares of Common Stock or of any warrant, right or option to purchase Common Stock shall result in an adjustment to the Conversion Price upon the issuance of shares of Common Stock upon exercise of such conversion or purchase rights.

  • Compensation for Buy-In on Failure to Timely Deliver Conversion Shares Upon Conversion In addition to any other rights available to the Holder, if the Company fails for any reason to deliver to the Holder such Conversion Shares by the Share Delivery Date pursuant to Section 4(c)(ii), and if after such Share Delivery Date the Holder is required by its brokerage firm to purchase (in an open market transaction or otherwise), or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Conversion Shares which the Holder was entitled to receive upon the conversion relating to such Share Delivery Date (a “Buy-In”), then the Company shall (A) pay in cash to the Holder (in addition to any other remedies available to or elected by the Holder) the amount, if any, by which (x) the Holder’s total purchase price (including any brokerage commissions) for the Common Stock so purchased exceeds (y) the product of (1) the aggregate number of shares of Common Stock that the Holder was entitled to receive from the conversion at issue multiplied by (2) the actual sale price at which the sell order giving rise to such purchase obligation was executed (including any brokerage commissions) and (B) at the option of the Holder, either reissue (if surrendered) this Debenture in a principal amount equal to the principal amount of the attempted conversion (in which case such conversion shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have been issued if the Company had timely complied with its delivery requirements under Section 4(c)(ii). For example, if the Holder purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted conversion of this Debenture with respect to which the actual sale price of the Conversion Shares (including any brokerage commissions) giving rise to such purchase obligation was a total of $10,000 under clause (A) of the immediately preceding sentence, the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver Conversion Shares upon conversion of this Debenture as required pursuant to the terms hereof.

  • Stock Issuance Upon exercise of the Warrant, the Company will use its best efforts to cause stock certificates representing the shares of Preferred Stock purchased pursuant to the exercise to be issued in the individual names of Holder, its nominees or assignees, as appropriate at the time of such exercise. Upon conversion of the shares of Preferred Stock to shares of Common Stock, the Company will issue the Common Stock in the individual names of Holder, its nominees or assignees, as appropriate.

  • Deferred Issuance In any case in which this Section 11 shall require that an adjustment in the Purchase Price be made effective as of a record date for a specified event, the Company may elect to defer until the occurrence of such event the issuance to the holder of any Right exercised after such record date of that number of shares of Preferred Stock and shares of other capital stock or securities of the Company, if any, issuable upon such exercise over and above the Preferred Stock and shares of other capital stock or other securities, assets or cash of the Company, if any, issuable upon such exercise on the basis of the Purchase Price in effect prior to such adjustment; provided, however, that the Company shall deliver to such holder a due xxxx or other appropriate instrument evidencing such holder’s right to receive such additional shares upon the occurrence of the event requiring such adjustment.

  • Request for Issuance Each Letter of Credit shall be issued upon notice, given not later than 12:00 Noon (New York City time) on the fifth Business Day prior to the date of the proposed issuance of such Letter of Credit, by the Borrower to any Issuing Bank, which shall give to the Administrative Agent and each Lender prompt notice thereof by telex, telecopier or e-mail or by means of the Approved Electronic Platform. Each such notice of issuance of a Letter of Credit (a “Notice of Issuance”) shall be by telephone, confirmed immediately in writing, telex, telecopier or e-mail, in each case in substantially in the form of Exhibit C hereto, specifying therein the requested (i) date of such issuance (which shall be a Business Day), (ii) Available Amount of such Letter of Credit, (iii) expiration date of such Letter of Credit, (iv) name and address of the beneficiary of such Letter of Credit and (v) form of such Letter of Credit, and shall be accompanied by such application and agreement for letter of credit as such Issuing Bank may specify to the Borrower for use in connection with such requested Letter of Credit (a “Letter of Credit Agreement”). If (y) the requested form of such Letter of Credit is acceptable to such Issuing Bank in its sole discretion and (z) it has not received notice of objection to such issuance from the Required Lenders, such Issuing Bank will, upon fulfillment of the applicable conditions set forth in Article III, make such Letter of Credit available to the Borrower at its office referred to in Section 9.02 or as otherwise agreed with the Borrower in connection with such issuance. In the event and to the extent that the provisions of any Letter of Credit Agreement shall conflict with this Agreement, the provisions of this Agreement shall govern. All Existing Letters of Credit shall be deemed to have been issued pursuant to this Section 2.03(a).

  • Issuance of Ordinary Shares on Exercise As soon as practicable after the exercise of any Warrant and the clearance of the funds in payment of the Warrant Price (if payment is pursuant to subsection 3.3.1(a)), the Company shall issue to the Registered Holder of such Warrant a book-entry position or certificate, as applicable, for the number of Ordinary Shares to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it on the register of members of the Company, and if such Warrant shall not have been exercised in full, a new book-entry position or countersigned Warrant, as applicable, for the number of shares as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, the Company shall not be obligated to deliver any Ordinary Shares pursuant to the exercise of a Warrant and shall have no obligation to settle such Warrant exercise unless a registration statement under the Securities Act with respect to the Ordinary Shares underlying the Public Warrants is then effective and a prospectus relating thereto is current, subject to the Company’s satisfying its obligations under Section 7.4 or a valid exemption from registration is available. No Warrant shall be exercisable and the Company shall not be obligated to issue Ordinary Shares upon exercise of a Warrant unless the Ordinary Shares issuable upon such Warrant exercise have been registered, qualified or deemed to be exempt from registration or qualification under the securities laws of the state of residence of the Registered Holder of the Warrants. Subject to Section 4.6 of this Agreement, a Registered Holder of Warrants may exercise its Warrants only for a whole number of Ordinary Shares. The Company may require holders of Public Warrants to settle the Warrant on a “cashless basis” pursuant to Section 7.4. If, by reason of any exercise of Warrants on a “cashless basis”, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in an Ordinary Share, the Company shall round down to the nearest whole number, the number of Ordinary Shares to be issued to such holder.

  • Issuance of Ordinary Shares As soon as practicable after the exercise of any Warrant and the clearance of the funds in payment of the Warrant Price (if any), the Company shall issue to the registered holder of such Warrant a certificate or certificates, or book entry position, for the number of Ordinary Shares to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it, and if such Warrant shall not have been exercised in full, a new countersigned Warrant, or book entry position, for the number of shares as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, in no event will the Company be required to net cash settle the Warrant exercise. No Warrant shall be exercisable for cash and the Company shall not be obligated to issue Ordinary Shares upon exercise of a Warrant unless the Ordinary Shares issuable upon such Warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the Warrants. In the event that the condition in the immediately preceding sentence is not satisfied with respect to a Warrant, the holder of such Warrant shall not be entitled to exercise such Warrant for cash and such Warrant may have no value and expire worthless, in which case the purchaser of a Unit containing such Warrants shall have paid the full purchase price for the Unit solely for the Ordinary Shares underlying such Unit. Warrants may not be exercised by, or securities issued to, any registered holder in any state in which such exercise or issuance would be unlawful.

  • Issuable on Exercise of Warrant; Financial Statements The Company will at all times reserve and keep available, solely for issuance and delivery on the exercise of the Warrants, all shares of Common Stock (or Other Securities) from time to time issuable on the exercise of the Warrant. This Warrant entitles the Holder hereof to receive copies of all financial and other information distributed or required to be distributed to the holders of the Company's Common Stock.

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