Common use of Obligation Absolute Clause in Contracts

Obligation Absolute. Borrower’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In the event the Holder of this Note shall elect to convert any or all of the outstanding principal amount hereof, Borrower may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 57 contracts

Samples: Convertible Note (Integrated Ventures, Inc.), Convertible Note (Aethlon Medical Inc), Global Technologies LTD

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Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares, excluding an event generally considered force majeure in the United States and the British Virgin Islands causing a temporary delay in the delivery of Conversion Shares which is beyond the control of the Company; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note shall elect to convert any or all of the outstanding principal amount Principal and any accrued and unpaid Interest thereon (if any) hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150125% of the outstanding principal amount Principal and any accrued and unpaid Interest thereon (if any) of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue the Conversion Shares or, if applicable, cash, upon delivery of a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable lawNotice.

Appears in 9 contracts

Samples: SEALSQ Corp, SEALSQ Corp, SEALSQ Corp

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note shall elect to convert any or all of the outstanding principal amount hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to The Holder shall have the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Company’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 5 contracts

Samples: Intellinetics, Inc., Bridgeline Digital, Inc., Intellinetics, Inc.

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note Debenture in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note Debenture shall elect to convert any or all of the outstanding principal amount hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of lawlaw or any agreement (except if, agreement or for upon the Holder’s election to convert any other reasonprincipal amount here, the Company’s delivery of Conversion Shares in connection therewith constitutes a violation of law by the Company, evidenced by a written opinion of counsel to the Company), unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note Debenture shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150125% of the outstanding principal amount of this NoteDebenture, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Company fails for any reason to deliver to the Holder such certificate or certificates Conversion Shares pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being begin to accrue) for each Trading Day after such Share Delivery Date until such certificates Conversion Shares are delivered or Holder rescinds such conversion. Nothing herein shall limit a HolderHxxxxx’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Company’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 4 contracts

Samples: Ideanomics, Inc., Ideanomics, Inc., Ideanomics, Inc.

Obligation Absolute. Borrower’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In the event the Holder of this Note shall elect to convert any or all of the outstanding principal amount hereof, Borrower may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Subject to the last sentence of Section 4(c)(ii), if Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 4 contracts

Samples: Greater Cannabis Company, Inc., Greater Cannabis Company, Inc., Greater Cannabis Company, Inc.

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided. The Company shall issue Conversion Shares or, howeverif applicable, that such delivery shall not operate as cash, upon a waiver by Borrower of any such action Borrower may have against the Holderproperly noticed conversion. In the event that the Holder of this Note shall elect to convert any or all of the outstanding principal amount hereofOutstanding Balance hereof and accrued but unpaid interest thereon in accordance with the terms of this note, the Borrower may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and the Borrower posts a surety bond for the benefit of the Holder in the amount of 150% two hundred percent of the outstanding principal amount Outstanding Balance of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Borrow shall issue Conversion Shares or, if applicable, cash, conversion shares upon a properly noticed notices conversion. If All payments under this Note (whether made by the Borrower fails or any other person) to or for the account of the Holder hereunder shall be made free and clear of and without reduction by reason of any reason present and future income, stamp, registration and other taxes, levies, duties, costs and charges whatsoever imposed, assessed, levied or collected by the United States or any political subdivision or taxing authority thereof or therein, together with interest thereon and penalties with respect thereto, if any on or in respect of this Note (such taxes, levies, duties, costs and charges being herein collectively called “Taxes”). The Borrower shall not be required to pay any tax which may be payable in respect of any transfer involved in the issue and delivery of shares of Common Stock or other securities or property on conversion of this Note in a name other than that of the Holder (or in street name), and the Borrower shall not be required to issue or deliver any such shares or other securities or property unless and until the person or persons (other than the Holder or the custodian in whose street name such shares are to be held for the Holder’s account) requesting the issuance thereof shall have paid to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by Borrower the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights tax or shall not prohibit have established to the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable lawsatisfaction of the Borrower that such tax has been paid.

Appears in 4 contracts

Samples: ETAO International Co., Ltd., Bruush Oral Care Inc., Grom Social Enterprises, Inc.

Obligation Absolute. Borrower’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In the event the Holder of this Note shall elect to convert any or all of the outstanding principal amount hereof, Borrower may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 4 contracts

Samples: Echo Therapeutics, Inc., GT Biopharma, Inc., Echo Therapeutics, Inc.

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note shall elect to convert any or all of the outstanding principal amount Principal and any accrued and unpaid Interest thereon (if any) hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150120% of the outstanding principal amount Principal and any accrued and unpaid Interest thereon (if any) of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue the Conversion Shares or, if applicable, cash, upon delivery of a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable lawNotice.

Appears in 3 contracts

Samples: Trio Petroleum Corp., Trio Petroleum Corp., Caravelle International Group

Obligation Absolute. BorrowerSubject to Section 6.4 and subject to Xxxxxx’s obligations right to rescind a Notice of Conversion pursuant to Section 6.5.1, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series A Non-Voting Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6.4 and subject to Xxxxxx’s right to rescind a Notice of Conversion pursuant to Section 6.5.1, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series A Non-Voting Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series A Non-Voting Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series A Non-Voting Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6.4 and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6.5.1, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (Aeglea BioTherapeutics, Inc.), Agreement and Plan of Merger (Aeglea BioTherapeutics, Inc.), Agreement and Plan of Merger (Spyre Therapeutics, Inc.)

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which that might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note shall elect to convert any or all of the outstanding principal amount hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150100% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgmentdispute. In the absence of such injunction, Borrower the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Company fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 500 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a HolderXxxxxx’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Company’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 3 contracts

Samples: Spectrum Global Solutions, Inc., Mantra Venture Group Ltd., Mantra Venture Group Ltd.

Obligation Absolute. Borrower’s obligations The Corporation's obligation to issue and deliver the Conversion Shares upon conversion of this Note Series A Preferred in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Personperson, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Corporation of any such action Borrower that the Corporation may have against the such Holder. In the event the a Holder of this Note shall elect to convert any or all of the outstanding principal Stated Value, plus the amount hereofof the accrued, Borrower but unpaid dividends, of its Series A Preferred, the Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series A Preferred of such Holder shall have been sought and obtained, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal Stated Value, plus the amount of this Notethe accrued, but unpaid dividends, of Series A Preferred which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Corporation shall issue Conversion Shares orand, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Asta Holdings, Corp.), Merger and Share Exchange Agreement (Asta Holdings, Corp.), Merger and Share Exchange Agreement (Asta Holdings, Corp.)

Obligation Absolute. BorrowerThe Company’s obligations obligation to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are is absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note shall elect to convert any or all of the outstanding principal amount hereof, Borrower The Company may not refuse conversion to deliver any Conversion Shares required to be delivered hereunder based on any claim that the Holder or anyone associated or affiliated Affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to the Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of one hundred fifty percent (150% %) of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue deliver Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason required to deliver to be delivered hereunder in accordance with the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversionterms hereof. Nothing herein shall limit a the Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 the terms hereof for Borrowerthe Company’s failure to deliver Conversion Shares within the applicable period specified herein in this Note and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 3 contracts

Samples: Securities Purchase Agreement (ObsEva SA), Securities Purchase Agreement (ObsEva SA), Securities Purchase Agreement (ObsEva SA)

Obligation Absolute. Borrower’s obligations to issue and deliver the Conversion Shares upon conversion of this Note Debenture in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In the event the Holder of this Note Debenture shall elect to convert any or all of the outstanding principal amount hereof, Borrower may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note Debenture shall have been sought and obtained, and Borrower posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this NoteDebenture, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 7 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Western Magnesium Corp.), Securities Purchase Agreement (Western Magnesium Corp.), Securities Purchase Agreement (Western Magnesium Corp.)

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note shall elect to convert any or all of the outstanding principal amount Principal and any accrued and unpaid Interest thereon (if any) hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150120% of the outstanding principal amount Principal and any accrued and unpaid Interest thereon (if any) of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains any judgment. In the absence of such injunction, Borrower the Company shall issue the Conversion Shares or, if applicable, cash, upon delivery of a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable lawNotice.

Appears in 2 contracts

Samples: Healthcare Triangle, Inc., Healthcare Triangle, Inc.

Obligation Absolute. BorrowerThe Company’s obligations obligation to issue and deliver the Conversion Shares upon conversion of this Note Series C Preferred in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the such Holder or any other Personperson, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the such Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower that the Company may have against the such Holder. In the event the a Holder of this Note shall elect to convert any or all of the outstanding principal amount hereofSeries C Preferred, Borrower the Company may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series C Preferred of such Holder shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount par value of this Note, the Series C Preferred which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares orand, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 2 contracts

Samples: Exercise Agreement (Star Mountain Resources, Inc.), Stock Purchase Agreement (Great Plains Holdings, Inc.)

Obligation Absolute. BorrowerSubject to Section 7(g)) hereof and subject to a Holder’s obligations right to void a conversion pursuant to Section 7(f)(ii) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series 1 Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Personperson, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 7(g) hereof and subject to a Holder’s right to void a conversion pursuant to Section 7(f)(ii) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series 1 Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series 1 Preferred Stock of such Holder shall have been sought and obtained, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150125% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series 1 Preferred Stock which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 2 contracts

Samples: Subscription Agreement (ArTara Therapeutics, Inc.), Subscription Agreement (Proteon Therapeutics Inc)

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note shall elect to convert any or all of the outstanding principal amount hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 2 contracts

Samples: PSQ Holdings, Inc., PSQ Holdings, Inc.

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion SharesShares ; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note shall elect to convert any or all of the outstanding principal Principal amount hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue the Conversion Shares or, if applicable, cash, upon delivery of a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable lawNotice.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Tuatara Capital Acquisition Corp), SpringBig Holdings, Inc.

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note Debenture in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note Debenture shall elect to convert any or all of the outstanding principal amount hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note Debenture shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this NoteDebenture, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 2 contracts

Samples: Genspera Inc, Global Roaming Distribution, Inc.

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series Y Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series Y Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series Y Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series Y Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Corporation fails for any reason to deliver to the a Holder such certificate or certificates certificates, or electronically deliver (or cause its transfer agent to electronically deliver) such shares in the case of a DWAC Delivery, pursuant to Section 4(c)(ii6(d)(i) by on or prior to the fifth Trading Day after the Share Delivery DateDate applicable to such conversion (other than a failure caused by incorrect or incomplete information provided by Holder to the Corporation), Borrower then, unless the Holder has rescinded the applicable Notice of Conversion pursuant to Section 6(d)(i) above, the Corporation shall pay to the Holder, in cash, (as liquidated damages and not as a penalty) to such Holder an amount payable, at the Corporation’s option, either (a) in cash or (b) to the extent that it would not cause the Holder or its Attribution Parties to exceed the Beneficial Ownership Limitation, in shares of Common Stock that are valued for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day these purposes at the Closing Sale Price on the date of such calculation, in each case equal to the product of (x) the number of Conversion Shares required to have been issued by the Corporation on such Share Delivery Date, (y) an amount equal to the Daily Failure Amount and (z) the number of Trading Days actually lapsed after such fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such the Share Delivery Date until during which such certificates are delivered have not been delivered, or, in the case of a DWAC Delivery, such shares have not been electronically delivered; provided, however, the Holder shall only receive up to such amount of shares of Common Stock such that Holder and its Attribution Parties and any other persons or entities whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act (including shares held by any “group” of which the Holder rescinds such conversionis a member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth herein) shall not collectively beneficially own greater than the Beneficial Ownership Limitation. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 2 contracts

Samples: Investment Agreement (XOMA Corp), Investment Agreement (Biotechnology Value Fund L P)

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note shall elect to convert any or all of the outstanding principal amount hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to The Holder shall have the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 6 hereof for Borrowerthe Company’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 2 contracts

Samples: NewBridge Global Ventures, Inc., Bridgeline Digital, Inc.

Obligation Absolute. Borrower’s 's obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In the event the Holder of this Note shall elect to convert any or all of the outstanding principal amount hereof, Borrower may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s 's right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s 's failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law. v. Compensation for Buy-In on Failure to Timely Deliver Certificates Upon Conversion. In addition to any other rights available to the Holder, if Borrower fails for any reason to deliver to the Holder such certificate or certificates 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 or 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 Borrower 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 Note 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 Borrower 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 Note 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, Borrower shall be required to pay the Holder $1,000. The Holder shall provide Borrower written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of Borrower, evidence of the amount of such loss. Nothing herein shall limit a Xxxxxx'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 Xxxxxxxx's failure to timely deliver certificates representing shares of Common Stock upon conversion of this Note as required pursuant to the terms hereof. vi.

Appears in 2 contracts

Samples: Emerald Medical Applications Corp., Emerald Medical Applications Corp.

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note Debenture in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note Debenture shall elect to convert any or all of the outstanding principal amount hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note Debenture shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this NoteDebenture, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to The Holder shall have the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Company’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 2 contracts

Samples: SCOLR Pharma, Inc., SCOLR Pharma, Inc.

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series B Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series B Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series B Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series B Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Corporation fails for any reason to deliver to the a Holder such certificate or certificates certificates, or electronically deliver (or cause its transfer agent to electronically deliver) such shares in the case of a DWAC Delivery, pursuant to Section 4(c)(ii6(d)(i) by on or prior to the fifth (5th) Trading Day after the Share Delivery DateDate applicable to such conversion (other than a failure caused by incorrect or incomplete information provided by Holder to the Corporation), Borrower then, unless the Holder has rescinded the applicable Conversion Notice pursuant to Section 6(d)(i) above, the Corporation shall pay to the Holder, in cash, (as liquidated damages and not as a penalty) to such Holder an amount payable, at the Corporation’s option, either (a) in cash or (b) to the extent that it would not cause the Holder or its Attribution Parties to exceed the Beneficial Ownership Limitation, in shares of Common Stock that are valued for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day these purposes at the Closing Sale Price on the date of such calculation, in each case equal to the product of (x) the number of Conversion Shares required to have been issued by the Corporation on such Share Delivery Date, (y) an amount equal to the Daily Failure Amount and (z) the number of Trading Days actually lapsed after such fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such the Share Delivery Date until during which such certificates are delivered have not been delivered, or, in the case of a DWAC Delivery, such shares have not been electronically delivered; provided, however, the Holder shall only receive up to such amount of shares of Common Stock such that Holder and its Attribution Parties and any other persons or entities whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act (including shares held by any “group” of which the Holder rescinds such conversionis a member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth herein) shall not collectively beneficially own greater than the Beneficial Ownership Limitation. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 2 contracts

Samples: Securities Exchange Agreement (Oncothyreon Inc.), Underwriting Agreement (Oncothyreon Inc.)

Obligation Absolute. Borrower’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In the event the Holder of this Note shall elect to convert any or all of the outstanding principal and/or accrued interest amount hereof, Borrower may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 2 contracts

Samples: nDivision Inc., Nevada Canyon Gold Corp.

Obligation Absolute. BorrowerSubject to Section 6.3 hereof and subject to Holder’s obligations right to rescind a Notice of Conversion pursuant to Section 6.4.1 above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series A Non-Voting Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6.3 hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6.4.1 above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series A Non-Voting Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series A Non-Voting Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series A Non-Voting Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6.3 hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6.4.1 above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Aprea Therapeutics, Inc.), Agreement and Plan of Merger (Miragen Therapeutics, Inc.)

Obligation Absolute. Borrower’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In the event the Holder of this Note shall elect to convert any or all of the outstanding principal amount hereof, Borrower may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 7 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 2 contracts

Samples: Securities Purchase Agreement (PV Nano Cell, Ltd.), PV Nano Cell, Ltd.

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note Debenture in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note Debenture shall elect to convert any or all of the outstanding principal amount and accrued interest hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note Debenture shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this NoteDebenture, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 2 contracts

Samples: UAS Drone Corp., UAS Drone Corp.

Obligation Absolute. BorrowerSubject to Section 6(b) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(c)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series D Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(b) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(c)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series D Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series D Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series D Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(b) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(c)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Letter Agreement (Pieris Pharmaceuticals, Inc.)

Obligation Absolute. BorrowerThe Corporation’s obligations obligation to issue and deliver the Conversion Shares upon conversion of this Note Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Personperson, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Corporation of any such action Borrower that the Corporation may have against the such Holder. In the event the a Holder of this Note shall elect to convert any or all of the outstanding principal amount hereofStated Value of its Preferred Stock, Borrower the Corporation may not refuse conversion based on any claim that the such Holder or anyone any one associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Preferred Stock of such holder shall have been sought and obtained, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount Stated Value of this Note, Preferred Stock which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Corporation shall issue Conversion Shares orand, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Registration Rights Agreement (Phunware, Inc.)

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series E Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series E Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series E Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series E Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Corporation fails for any reason to deliver to the a Holder such certificate or certificates certificates, or electronically deliver (or cause its transfer agent to electronically deliver) such shares in the case of a DWAC Delivery, pursuant to Section 4(c)(ii6(d)(i) by on or prior to the fifth (5th) Trading Day after the Share Delivery DateDate applicable to such conversion (other than a failure caused by incorrect or incomplete information provided by Holder to the Corporation), Borrower then, unless the Holder has rescinded the applicable Conversion Notice pursuant to Section 6(d)(i) above, the Corporation shall pay to the Holder, in cash, (as liquidated damages and not as a penalty) to such Holder an amount payable, at the Holder’s option, either (a) in cash or (b) to the extent that it would not cause the Holder or its Attribution Parties to exceed the Beneficial Ownership Limitation, in shares of Common Stock that are valued for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day these purposes at the Closing Sale Price on the date of such calculation, in each case equal to the product of (x) the number of Conversion Shares required to have been issued by the Corporation on such Share Delivery Date, (y) an amount equal to the Daily Failure Amount and (z) the number of Trading Days actually lapsed after such fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such the Share Delivery Date until during which such certificates are delivered have not been delivered, or, in the case of a DWAC Delivery, such shares have not been electronically delivered; provided, however, the Holder shall only receive up to such amount of shares of Common Stock such that Holder and its Attribution Parties and any other persons or entities whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act (including shares held by any “group” of which the Holder rescinds such conversionis a member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth herein) shall not collectively beneficially own greater than the Beneficial Ownership Limitation. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Underwriting Agreement (Cascadian Therapeutics, Inc.)

Obligation Absolute. BorrowerSubject to Sections 6(c) and 6(d) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(e)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Class X Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Sections 6(c) and 6(d) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(e)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Class X Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Class X Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Class X Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Sections 6(c) and 6(d) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(e)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (aTYR PHARMA INC)

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series A Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series A Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series A Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series A Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Corporation fails for any reason to deliver to the a Holder such certificate or certificates certificates, or electronically deliver (or cause its transfer agent to electronically deliver) such shares in the case of a DWAC Delivery, pursuant to Section 4(c)(ii6(d)(i) by on or prior to the fifth (5th) Trading Day after the Share Delivery DateDate applicable to such conversion (other than a failure caused by incorrect or incomplete information provided by Holder to the Corporation), Borrower then, unless the Holder has rescinded the applicable Notice of Conversion pursuant to Section 6(d)(i) above, the Corporation shall pay to the Holder, in cash, (as liquidated damages and not as a penalty) to such Holder an amount payable, at the Corporation’s option, either (a) in cash or (b) to the extent that it would not cause the Holder or its Attribution Parties to exceed the Beneficial Ownership Limitation, in shares of Common Stock that are valued for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day these purposes at the Closing Sale Price on the date of such calculation, in each case equal to the product of (x) the number of Conversion Shares required to have been issued by the Corporation on such Share Delivery Date, (y) an amount equal to the Daily Failure Amount and (z) the number of Trading Days actually lapsed after such fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such the Share Delivery Date until during which such certificates are delivered have not been delivered, or, in the case of a DWAC Delivery, such shares have not been electronically delivered; provided, however, the Holder shall only receive up to such amount of shares of Common Stock such that Holder and its Attribution Parties and any other persons or entities whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act (including shares held by any “group” of which the Holder rescinds such conversionis a member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth herein) shall not collectively beneficially own greater than the Beneficial Ownership Limitation. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Underwriting Agreement (Molecular Templates, Inc.)

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Advance Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereofhereof (other than any express written waiver by the Holder entitled to receive such Conversion Shares of the obligation to issue and deliver the same), the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion SharesShares (other than any such limitation expressly set forth in the Transaction Documents); provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Advance Note shall elect to convert any or all of the outstanding principal amount Principal and any accrued and unpaid Interest thereon hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Advance Note shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150100% of the outstanding principal amount Principal of this NoteAdvance Note and any accrued and unpaid Interest thereon, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains a favorable judgment, with any amount of the surety bond in excess of any such money judgment to be applied as a repayment of such outstanding Principal and accrued and unpaid interest thereon and other amounts then payable by the Company to the Holder under this Advance Note. In the absence of such injunction, Borrower the Company shall issue the Conversion Shares or, if applicable, cash, upon delivery of a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 Notice of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day Conversion on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or terms set forth in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable lawthis Advance Note.

Appears in 1 contract

Samples: Pledge Agreement (Ascent Solar Technologies, Inc.)

Obligation Absolute. BorrowerSubject to Section 6(c) and Section 6(d)(v) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series A Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) and Section 6(d)(v) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series A Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone any one associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series A Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series A Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) and Section 6(d)(v) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Letter Agreement (Verastem, Inc.)

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series A Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series A Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series A Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series A Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Corporation fails for any reason to deliver to the a Holder such certificate or certificates certificates, or electronically deliver (or cause its transfer agent to electronically deliver) such shares in the case of a DWAC Delivery, pursuant to Section 4(c)(ii6(d)(i) by on or prior to the fifth (5th) Trading Day after the Share Delivery DateDate applicable to such conversion (other than a failure caused by incorrect or incomplete information provided by Holder to the Corporation), Borrower then, unless the Holder has rescinded the applicable Notice of Conversion pursuant to Section 6(d)(i) above, the Corporation shall pay to the Holder, in cash, (as liquidated damages and not as a penalty) to such Holder an amount payable, at the Corporation’s option, either (a) in cash or (b) to the extent that it would not cause the Holder or its Attribution Parties to exceed the Beneficial Ownership Limitation, in shares of Common Stock that are valued for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day these purposes at the Closing Sale Price on the date of such calculation, in each case equal to the product of (x) the number of Conversion Shares required to have been issued by the Corporation on such Share Delivery Date, (y) an amount equal to the Daily Failure Amount and (z) the number of Trading Days actually lapsed after such fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such the Share Delivery Date until during which such certificates are delivered have not been delivered, or, in the case of a DWAC Delivery, such shares have not been electronically delivered; provided, however, the Holder shall only receive up to such amount of shares of Common Stock such that Holder and its Attribution Parties and any other persons or entities whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act (including shares held by any “group” of which the Holder rescinds such conversionis a member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth herein) shall not collectively beneficially own greater than the Beneficial Ownership Limitation. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided, that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Aimmune Therapeutics, Inc.)

Obligation Absolute. Borrower’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder New Purchaser to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder New Purchaser or any other Person of any obligation to Borrower or any violation or alleged violation of law by the Holder New Purchaser or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower to the Holder New Purchaser in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the HolderNew Purchaser. In the event the Holder New Purchaser of this Note shall elect to convert any or all of the outstanding principal amount hereof, Borrower may not refuse conversion based on any claim that the Holder New Purchaser or anyone associated or affiliated with the Holder New Purchaser has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to HolderNew Purchaser, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower posts a surety bond for the benefit of the Holder New Purchaser in the amount of 150% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder New Purchaser to the extent it obtains judgment. In the absence of such injunction, Borrower shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder New Purchaser such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the HolderNew Purchaser, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder New Purchaser rescinds such conversion. Nothing herein shall limit a HolderNew Purchaser’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder New Purchaser shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder New Purchaser from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Emerald Medical Applications Corp.

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event If the Holder of this Note shall elect to convert any or all of the outstanding principal amount hereofthen Outstanding Balance of this Note, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, violation of any agreement to which the Holder or the Company is a party, or for any other reason, unless (i) an injunction from issued by a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower (ii) the Company posts a surety bond for the benefit of the Holder in the amount of 150125% of the outstanding principal amount of this NoteOutstanding Balance, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder (as liquidated damages) to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue the Conversion Shares or, if applicable, cash, upon delivery of a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable lawNotice.

Appears in 1 contract

Samples: iQSTEL Inc

Obligation Absolute. BorrowerSubject to Section 6(b) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(c)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series D Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(b) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(c)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series D Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone any one Person associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to such Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series D Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series D Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Corporation shall issue Conversion Shares orand, if applicable, cash, upon a properly noticed conversion. If Borrower the Corporation fails for any reason to deliver to the a Holder such certificate or certificates Conversion Shares pursuant to Section 4(c)(ii6(c)(i) by on the Share Delivery DateDate applicable to such conversion, Borrower the Corporation shall pay to the such Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 5,000 of principal amount Stated Value of Series D Preferred Stock being converted, $10 50 per Trading Day (increasing to $20 100 per Trading Day on the fifth (5th) third Trading Day and increasing to $200 per Trading Day on the sixth Trading Day after such liquidated damages being begin to accrue) for each Trading Day after such the Share Delivery Date until such certificates Conversion Shares are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (InspireMD, Inc.)

Obligation Absolute. BorrowerThe Corporation’s obligations obligation to issue and deliver the Conversion Shares upon conversion of this Note Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Personperson, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Corporation of any such action Borrower that the Corporation may have against the such Holder. In the event the a Holder of this Note shall elect to convert any or all of the outstanding principal amount hereofStated Value of its Preferred Stock or in connection with any mandatory conversion pursuant to Section 6(a)(ii), Borrower the Corporation may not refuse conversion based on any claim that the such Holder or anyone any one associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Preferred Stock of such Holder shall have been sought and obtained, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount Stated Value of this Note, Preferred Stock which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Corporation shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Amyris, Inc.)

Obligation Absolute. BorrowerThe Corporation’s obligations obligation to issue and deliver the Conversion Shares upon conversion of this Note Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Personperson, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Corporation of any such action Borrower that the Corporation may have against the such Holder. In the event the a Holder of this Note shall elect to convert any or all of the outstanding principal amount hereofStated Value of its Preferred Stock, Borrower the Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, law or agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Preferred Stock of such Holder shall have been sought and obtained, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount Stated Value of this Note, Preferred Stock which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Corporation shall issue Conversion Shares orand, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity equity, including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Arrowhead Research Corp)

Obligation Absolute. BorrowerThe Company’s obligations obligation to issue and deliver the Conversion Shares upon conversion of this Note Series D Preferred in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the such Holder or any other Personperson, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the such Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower that the Company may have against the such Holder. In the event the a Holder of this Note shall elect to convert any or all of the outstanding principal amount hereofSeries D Preferred, Borrower the Company may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series D Preferred of such Holder shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount market value of this Note, which is subject to the injunctionConversion Shares based on the closing price of the Common Stock as quoted on the OTC Markets as of the Conversion Date, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares orand, if applicable, cash, upon a properly noticed conversion. If Borrower the Company fails for any reason to deliver to the a Holder such certificate or certificates Conversion Shares pursuant to Section 4(c)(ii5(c)(iii) by the fifth Trading Day after the Share Delivery DateDate applicable to such conversion, Borrower the Company shall pay to the such Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 5,000 of principal amount Conversion Amount being converted, $10 50 per Trading Day (increasing to $20 100 per Trading Day on the fifth (5th) sixth Trading Day and increasing to $200 per Trading Day on the tenth Trading Day after such liquidated damages being begin to accrue) for each Trading Day after such fifth Trading Day after the Share Delivery Date until such certificates Conversion Shares are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Company’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Great Plains Holdings, Inc.)

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note shall elect to convert any or all of the outstanding principal amount hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150100% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a HolderXxxxxx’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 7 hereof for Borrowerthe Company’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section section hereof or under applicable law.

Appears in 1 contract

Samples: AtheroNova Inc.

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series Z Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series Z Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series Z Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series Z Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Corporation fails for any reason to deliver to the a Holder such certificate or certificates certificates, or electronically deliver (or cause its transfer agent to electronically deliver) such shares in the case of a DWAC Delivery, pursuant to Section 4(c)(ii6(d)(i) by on or prior to the fifth Trading Day after the Share Delivery DateDate applicable to such conversion (other than a failure caused by incorrect or incomplete information provided by Holder to the Corporation), Borrower then, unless the Holder has rescinded the applicable Notice of Conversion pursuant to Section 6(d)(i) above, the Corporation shall pay to the Holder, in cash, (as liquidated damages and not as a penalty) to such Holder an amount payable, at the Corporation’s option, either (a) in cash or (b) to the extent that it would not cause the Holder or its Attribution Parties to exceed the Beneficial Ownership Limitation, in shares of Common Stock that are valued for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day these purposes at the Closing Sale Price on the date of such calculation, in each case equal to the product of (x) the number of Conversion Shares required to have been issued by the Corporation on such Share Delivery Date, (y) an amount equal to the Daily Failure Amount and (z) the number of Trading Days actually lapsed after such fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such the Share Delivery Date until during which such certificates are delivered have not been delivered, or, in the case of a DWAC Delivery, such shares have not been electronically delivered; provided, however, the Holder shall only receive up to such amount of shares of Common Stock such that Holder and its Attribution Parties and any other persons or entities whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act (including shares held by any “group” of which the Holder rescinds such conversionis a member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth herein) shall not collectively beneficially own greater than the Beneficial Ownership Limitation. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Investment Agreement (XOMA Corp)

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series D Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series D Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series D Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series D Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Corporation fails for any reason to deliver to the a Holder such certificate or certificates certificates, or electronically deliver (or cause its transfer agent to electronically deliver) such shares in the case of a DWAC Delivery, pursuant to Section 4(c)(ii6(d)(i) by on or prior to the fifth (5th) Trading Day after the Share Delivery DateDate applicable to such conversion (other than a failure caused by incorrect or incomplete information provided by Holder to the Corporation), Borrower then, unless the Holder has rescinded the applicable Notice of Conversion pursuant to Section 6(d)(i) above, the Corporation shall pay to the Holder, in cash, (as liquidated damages and not as a penalty) to such Holder an amount payable, at the Corporation’s option, either (a) in cash or (b) to the extent that it would not cause the Holder or its Attribution Parties to exceed the Beneficial Ownership Limitation, in shares of Common Stock that are valued for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day these purposes at the Closing Sale Price on the date of such calculation, in each case equal to the product of (x) the number of Conversion Shares required to have been issued by the Corporation on such Share Delivery Date, (y) an amount equal to the Daily Failure Amount and (z) the number of Trading Days actually lapsed after such fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such the Share Delivery Date until during which such certificates are delivered have not been delivered, or, in the case of a DWAC Delivery, such shares have not been electronically delivered; provided, however, the Holder shall only receive up to such amount of shares of Common Stock such that Holder and its Attribution Parties and any other persons or entities whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act (including shares held by any “group” of which the Holder rescinds such conversionis a member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth herein) shall not collectively beneficially own greater than the Beneficial Ownership Limitation. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Underwriting Agreement (Spero Therapeutics, Inc.)

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series X Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series X Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series X Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150125% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series X Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Corporation fails for any reason to deliver to the a Holder such certificate or certificates certificates, or electronically deliver (or cause its transfer agent to electronically deliver) such shares in the case of a DWAC Delivery, pursuant to Section 4(c)(ii6(d)(i) by on or prior to the fifth Trading Day after the Share Delivery DateDate applicable to such conversion (other than a failure caused by incorrect or incomplete information provided by Holder to the Corporation), Borrower then, unless the Holder has rescinded the applicable Notice of Conversion pursuant to Section 6(d)(i) above, the Corporation shall pay to the Holder, in cash, (as liquidated damages and not as a penalty) to such Holder an amount payable, at the Corporation’s option, either (a) in cash or (b) to the extent that it would not cause the Holder or its Attribution Parties to exceed the Beneficial Ownership Limitation, in shares of Common Stock that are valued for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day these purposes at the Closing Sale Price on the date of such calculation, in each case equal to the product of (x) the number of Conversion Shares required to have been issued by the Corporation on such Share Delivery Date, (y) an amount equal to the Daily Failure Amount and (z) the number of Trading Days actually lapsed after such fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such the Share Delivery Date until during which such certificates are delivered have not been delivered, or, in the case of a DWAC Delivery, such shares have not been electronically delivered; provided, however, the Holder shall only receive up to such amount of shares of Common Stock such that Holder and its Attribution Parties and any other persons or entities whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act (including shares held by any “group” of which the Holder rescinds such conversionis a member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth herein) shall not collectively beneficially own greater than the Beneficial Ownership Limitation. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Letter Agreement (Cidara Therapeutics, Inc.)

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note Debenture in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note Debenture shall elect to convert any or all of the outstanding principal amount hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note Debenture shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this NoteDebenture, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Company’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Ocz Technology Group Inc

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note shall elect to convert any or all of the outstanding principal amount hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150125% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to Upon the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for BorrowerCompany’s failure to deliver Conversion Shares within the period specified herein and herein, the Holder shall have the right to pursue all remedies available to it hereunderunder the transaction documents, including the declaration of an Event of Default, and at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Note and Warrant Purchase Agreement (Brekford Corp.)

Obligation Absolute. Borrower’s The Company's obligations to issue and deliver the Conversion Shares upon conversion of this Note Debenture in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note Debenture shall elect to convert any or all of the outstanding principal amount hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of lawlaw or any agreement (except if, agreement or for upon the Holder's election to convert any other reasonprincipal amount here, the Company's delivery of Conversion Shares in connection therewith constitutes a violation of law by the Company, evidenced by a written opinion of counsel to the Company), unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note Debenture shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150125% of the outstanding principal amount of this NoteDebenture, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Company fails for any reason to deliver to the Holder such certificate or certificates Conversion Shares pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being begin to accrue) for each Trading Day after such Share Delivery Date until such certificates Conversion Shares are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s Hxxxxx's right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s the Company's failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitationlimitation , a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Ideanomics, Inc.

Obligation Absolute. BorrowerThe Corporation’s obligations obligation to issue and deliver the Conversion Underlying Shares upon conversion of this Note Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Personperson, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Underlying Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Corporation of any such action Borrower that the Corporation may have against the such Holder. In the event the a Holder of this Note shall elect to convert any or all of its shares of Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Preferred Stock of such Holder shall have been sought and obtained, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount Stated Value of this Note, Preferred Stock which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Corporation shall issue Conversion the Underlying Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Underlying Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Lilis Energy, Inc.)

Obligation Absolute. BorrowerSubject to Section 6.3 hereof and subject to Xxxxxx’s obligations right to rescind a Notice of Conversion pursuant to Section 6.4.1 above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series Z Non-Voting Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6.3 hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6.4.1 above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series Z Non-Voting Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series Z Non-Voting Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series Z Non-Voting Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6.3 hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6.4.1 above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Idera Pharmaceuticals, Inc.)

Obligation Absolute. BorrowerSubject to Section 6.3 hereof and subject to Holder’s obligations right to rescind a Notice of Conversion pursuant to Section 6.4.1 above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series A Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6.3 hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6.4.1 above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series A Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series A Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series A Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6.3 hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6.4.1 above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Unum Therapeutics Inc.)

Obligation Absolute. BorrowerThe Corporation’s obligations obligation to issue and deliver the Conversion Shares upon conversion of this Note Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Personperson, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Corporation of any such action Borrower that the Corporation may have against the such Holder. In the event the a Holder of this Note shall elect to convert any or all of the outstanding principal amount hereofStated Value of its Preferred Stock, Borrower the Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Preferred Stock of such Holder shall have been sought and obtained, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount Stated Value of this Note, Preferred Stock which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Corporation shall issue Conversion Shares orand, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an a Triggering Event of Default pursuant to Section 8 10 hereof for Borroweras a result of the Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce obtain damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Adoption Agreement (Greenman Technologies Inc)

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series A Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series A Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone any one associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series A Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series A Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Corporation fails for any reason to deliver to the a Holder such certificate or certificates certificates, or electronically deliver (or cause its transfer agent to electronically deliver) such shares in the case of a DWAC Delivery, pursuant to Section 4(c)(ii6(d)(i) by on or prior to the fifth (5th) Trading Day after the Share Delivery DateDate applicable to such conversion (other than a failure caused by incorrect or incomplete information provided by Holder to the Corporation), Borrower then, unless the Holder has rescinded the applicable Conversion Notice pursuant to Section 6(d)(i) above, the Corporation shall pay to the Holder, in cash, (as liquidated damages and not as a penalty) to such Holder an amount payable, at the Corporation’s option, either (a) in cash or (b) in shares of Common Stock that are valued for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day these purposes at the Closing Sale Price on the date of such calculation, in each case equal to the product of (x) the number of Conversion Shares required to have been issued by the Corporation on such Share Delivery Date, (y) an amount equal to the Daily Failure Amount and (z) the number of Trading Days actually lapsed after such fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such the Share Delivery Date until during which such certificates are delivered have not been delivered, or, in the case of a DWAC Delivery, such shares have not been electronically delivered; provided, however, the Holder shall only receive up to such amount of shares of Common Stock such that Holder and any other persons or entities whose beneficial ownership of Common Stock would be aggregated with the [ ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. Holder’s for purposes of Section 13(d) of the Exchange Act (including shares held by any “group” of which the Holder rescinds such conversionis a member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth herein) shall not collectively beneficially own greater than 9.98% of the total number of shares of Common Stock of the Corporation then issued and outstanding. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Loan and Security Agreement (Cytokinetics Inc)

Obligation Absolute. BorrowerThe Company’s obligations obligation to issue and deliver the Conversion Shares upon conversion of this Note Preferred Shares in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder a holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder such holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder such holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder such holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower that the Company may have against the Holdersuch holder. In the event the Holder of this Note a holder shall elect to convert any or all of the outstanding principal amount hereofStated Value of its Preferred Shares, Borrower the Company may not refuse conversion based on any claim that the Holder such holder or anyone associated or affiliated with the Holder such holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holderholder, restraining and or and/or enjoining conversion of all or part of this Note the Preferred Shares of such holder shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder such holder in the amount of 150% of the outstanding principal amount Stated Value of this Note, Preferred Shares which is are subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder such holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares orand, if applicable, cash, upon a properly noticed conversion. If Borrower the Company fails for any reason to deliver to the Holder a holder such certificate or certificates Conversion Shares pursuant to Section 4(c)(ii(2)(d)(i) by on the Share Delivery DateDate applicable to such conversion, Borrower the Company shall pay to the such Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount Stated Value of the Preferred Shares being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) third Trading Day after such liquidated damages being to accruethe Share Delivery Date) for each Trading Day after such the Share Delivery Date until such certificates Conversion Shares are delivered or Holder holder rescinds such conversion. Nothing herein shall limit a Holderholder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Company’s failure to deliver Conversion Shares within the period specified herein and the Holder such holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder a holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (LENSAR, Inc.)

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Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note Debenture in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note Debenture shall elect to convert any or all of the outstanding principal amount hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note Debenture shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this NoteDebenture, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a HolderHxxxxx’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Company’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Pressure Biosciences Inc

Obligation Absolute. BorrowerSubject to Section 7(g) and Section 7(h) hereof and subject to a Holder’s obligations right to void a conversion pursuant to Section 7(f)(ii) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series A Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Personperson, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 7(g) and Section 7(h) hereof and subject to a Holder’s right to void a conversion pursuant to Section 7(f)(ii) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series A Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series A Preferred Stock of such Holder shall have been sought and obtained, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150125% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series A Preferred Stock which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Proteon Therapeutics Inc)

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series B Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series B Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone any one associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series B Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series B Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Corporation fails for any reason to deliver to the a Holder such certificate or certificates certificates, or electronically deliver (or cause its transfer agent to electronically deliver) such shares in the case of a DWAC Delivery, pursuant to Section 4(c)(ii6(d)(i) by on or prior to the fifth (5th) Trading Day after the Share Delivery DateDate applicable to such conversion (other than a failure caused by incorrect or incomplete information provided by Holder to the Corporation), Borrower then, unless the Holder has rescinded the applicable Conversion Notice pursuant to Section 6(d)(i) above, the Corporation shall pay to the Holder, in cash, (as liquidated damages and not as a penalty) to such Holder an amount [ ] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. payable, at the Corporation’s option, either (a) in cash or (b) in shares of Common Stock that are valued for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day these purposes at the Closing Sale Price on the date of such calculation, in each case equal to the product of (x) the number of Conversion Shares required to have been issued by the Corporation on such Share Delivery Date, (y) an amount equal to the Daily Failure Amount and (z) the number of Trading Days actually lapsed after such fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such the Share Delivery Date until during which such certificates are delivered have not been delivered, or, in the case of a DWAC Delivery, such shares have not been electronically delivered; provided, however, the Holder shall only receive up to such amount of shares of Common Stock such that Holder and any other persons or entities whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act (including shares held by any “group” of which the Holder rescinds such conversionis a member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth herein) shall not collectively beneficially own greater than 9.98% of the total number of shares of Common Stock of the Corporation then issued and outstanding. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Loan and Security Agreement (Cytokinetics Inc)

Obligation Absolute. BorrowerSubject to Section 6(c) and Section 6(d)(v) hereof and subject to Holder’s obligations right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series X1 Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) and Section 6(d)(v) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series X1 Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series X1 Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series X1 Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) and Section 6(d)(v) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Novus Therapeutics, Inc.)

Obligation Absolute. BorrowerSubject to Section 6(b) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(c)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series E Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(b) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(c)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series E Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series E Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series E Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(b) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(c)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Letter Agreement (Pieris Pharmaceuticals, Inc.)

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series A Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series A Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series A Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series A Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Corporation fails for any reason to deliver to the a Holder such certificate or certificates certificates, or electronically deliver (or cause its transfer agent to electronically deliver) such shares in the case of a DWAC Delivery, pursuant to Section 4(c)(ii6(d)(i) by on or prior to the fifth (5th) Trading Day after the Share Delivery DateDate applicable to such conversion (other than a failure caused by incorrect or incomplete information provided by Holder to the Corporation), Borrower then, unless the Holder has rescinded the applicable Conversion Notice pursuant to Section 6(d)(i) above, the Corporation shall pay to the Holder, in cash, (as liquidated damages and not as a penalty) to such Holder an amount payable, at the Corporation’s option, either (a) in cash or (b) to the extent that it would not cause the Holder or its Attribution Parties to exceed the Beneficial Ownership Limitation, in shares of Common Stock that are valued for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day these purposes at the Closing Sale Price on the date of such calculation, in each case equal to the product of (x) the number of Conversion Shares required to have been issued by the Corporation on such Share Delivery Date, (y) an amount equal to the Daily Failure Amount and (z) the number of Trading Days actually lapsed after such fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such the Share Delivery Date until during which such certificates are delivered have not been delivered, or, in the case of a DWAC Delivery, such shares have not been electronically delivered; provided, however, the Holder shall only receive up to such amount of shares of Common Stock such that Holder and its Attribution Parties and any other persons or entities whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act (including shares held by any “group” of which the Holder rescinds such conversionis a member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth herein) shall not collectively beneficially own greater than the Beneficial Ownership Limitation. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Securities Exchange Agreement (Vericel Corp)

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series C Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided, however, . The Corporation understands that such a delay in the delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Conversion Shares after the Share Delivery Date could result in economic loss to the Holder. In the event As compensation to the Holder of this Note shall elect for such loss, if (i) the Corporation fails to convert any or all of cause the outstanding principal amount hereof, Borrower may not refuse conversion based on any claim that Corporation’s transfer agent to transmit to the Holder or anyone associated or affiliated the Conversion Shares in accordance with the Holder has been engaged in any violation provisions of law, agreement Section 6(a) above pursuant to a Notice of Conversion on or for any before the Share Delivery Date (other reason, unless an injunction from than a court, on notice to Holder, restraining and failure caused by incorrect or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to incomplete information provided by the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to Corporation) and (ii) the Holder has not exercised its Buy-In rights as provided below with respect to such certificate or certificates pursuant Conversion Shares, the Corporation agrees to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, (as liquidated damages and not as a penalty, ) to the Holder for each late issuance of the Conversion Shares the proportionate amount of $1,000 of principal amount being converted, $10 100 per Trading Day (increasing to $20 200 per Trading Day on after the fifth tenth (5th10th) Trading Day Day) after such liquidated damages being to accrue) for each Trading Day after such the Share Delivery Date until such certificates for each $10,000 of Conversion Shares covered by the applicable Notice of Conversion that are delivered or Holder rescinds such conversionnot timely delivered. For purposes of clarification, if the Corporation is obligated to make payments of liquidated damages pursuant to this Section 6(d)(ii) for late issuance of the Conversion Shares, then it shall not also be obligated to make Buy-In payments as described below with respect to those same Conversion Shares. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law. The Corporation shall pay any payments incurred under this Section 6(d)(ii) in immediately available funds upon demand.

Appears in 1 contract

Samples: Registration Rights Agreement (Bain Capital Life Sciences Fund, L.P.)

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note shall elect to convert any or all of the outstanding principal amount hereofthen Outstanding Balance, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150125% of the outstanding principal amount of this NoteOutstanding Balance, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue the Conversion Shares or, if applicable, cash, upon delivery of a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable lawNotice.

Appears in 1 contract

Samples: Snail, Inc.

Obligation Absolute. BorrowerThe Corporation’s obligations obligation to issue and deliver the Conversion Shares upon conversion of this Note shares of Series 19 Preferred Stock in accordance with the terms hereof are is absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Personperson, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Corporation of any such action Borrower that the Corporation may have against the such Holder. In the event the a Holder of this Note shall elect to convert any or all of the outstanding principal amount hereofStated Value of its Series 19 Preferred Stock, Borrower the Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series 19 Preferred Stock of such Holder shall have been sought and obtained, and Borrower posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such an injunction, Borrower the Corporation shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity equity, including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Development, Commercialization and License Agreement (Cell Therapeutics Inc)

Obligation Absolute. BorrowerSubject to Section 6(c) and Section 6(d)(v) hereof and subject to Holder’s obligations right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series X Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) and Section 6(d)(v) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series X Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series X Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series X Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) and Section 6(d)(v) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Corporation fails for any reason to deliver to the a Holder such certificate or certificates certificates, or electronically deliver (or cause its transfer agent to electronically deliver) such shares in the case of a DWAC Delivery, pursuant to Section 4(c)(ii6(d)(i) by on or prior to the fifth (5th) Trading Day after the Share Delivery DateDate applicable to such conversion (other than a failure caused by incorrect or incomplete information provided by Holder to the Corporation), Borrower then, unless the Holder has rescinded the applicable Notice of Conversion pursuant to Section 6(d)(i) above, the Corporation shall pay to the Holder, in cash, (as liquidated damages and not as a penalty) to such Holder an amount payable, at the Corporation’s option, either (a) in cash or (b) to the extent that it would not cause the Holder or its Attribution Parties to exceed the Beneficial Ownership Limitation, in shares of Common Stock that are valued for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day these purposes at the Closing Sale Price on the date of such calculation, in each case equal to the product of (x) the number of Conversion Shares required to have been issued by the Corporation on such Share Delivery Date, (y) an amount equal to the Daily Failure Amount and (z) the number of Trading Days actually lapsed after such fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such the Share Delivery Date until during which such certificates are delivered have not been delivered, or, in the case of a DWAC Delivery, such shares have not been electronically delivered; provided, however, the Holder shall only receive up to such amount of shares of Common Stock such that Holder and its Attribution Parties and any other persons or entities whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act (including shares held by any “group” of which the Holder rescinds such conversionis a member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth herein) shall not collectively beneficially own greater than the Beneficial Ownership Limitation. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Investment Agreement (Cti Biopharma Corp)

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series B Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series B Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone any one associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series B Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series B Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Letter Agreement (Pieris Pharmaceuticals, Inc.)

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares and Warrants upon conversion of this Note Debenture in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note Debenture shall elect to convert any or all of the outstanding principal amount hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note Debenture shall have been sought and obtained, and Borrower posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares or, if applicable, cashand Warrants, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 7 hereof for Borrowerthe Company’s failure to deliver Conversion Shares and Warrants within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Subscription Agreement (Trunity Holdings, Inc.)

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note Debenture in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note Debenture shall elect to convert any or all of the outstanding principal amount hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note Debenture shall have been sought and obtained, and Borrower posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Company fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Targeted Medical Pharma, Inc.

Obligation Absolute. BorrowerThe Corporation’s obligations obligation to issue and deliver the Conversion Shares upon conversion of this Note Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Personperson, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Corporation of any such action Borrower that the Corporation may have against the such Holder. In the event the a Holder of this Note shall elect to convert any or all of the outstanding principal amount hereofStated Value of its Preferred Stock, Borrower the Corporation may not refuse conversion based on any claim that the such Holder or anyone any one associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Preferred Stock of such Holder shall have been sought and obtained, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount Stated Value of this Note, Preferred Stock which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Corporation shall issue Conversion Shares orand, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Arrowhead Research Corp)

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Class A-[•] Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Class A-[•] Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Class A-[•] Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Class A-[•] Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Preferred Stock Purchase Agreement (Alder Biopharmaceuticals Inc)

Obligation Absolute. BorrowerThe Corporation’s obligations obligation to issue and deliver the Conversion Shares upon conversion of this Note Series A Preferred in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Personperson, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Corporation of any such action Borrower that the Corporation may have against the such Holder. In the event the a Holder of this Note shall elect to convert any or all of the outstanding principal amount hereofStated Value of its Series A Preferred, Borrower the Corporation may not refuse conversion based on any claim that the such Holder or anyone any one associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series A Preferred of such Holder shall have been sought and obtained, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount Stated Value of this Note, Series A Preferred which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Corporation shall issue Conversion Shares orand, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Stock Exchange Agreement (Sibling Group Holdings, Inc.)

Obligation Absolute. BorrowerSubject to Section 6.3 hereof and subject to Xxxxxx’s obligations right to rescind a Notice of Conversion pursuant to Section 6.4.1 above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series X Non-Voting Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6.3 hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6.4.1 above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series X Non-Voting Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series X Non-Voting Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series X Non-Voting Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6.3 hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6.4.1 above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Baudax Bio, Inc.)

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note Debenture in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note Debenture shall elect to convert any or all of the outstanding principal amount hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of lawlaw or any agreement (except if, agreement or for upon the Holder’s election to convert any other reasonprincipal amount here, the Company’s delivery of Conversion Shares in connection therewith constitutes a violation of law by the Company, evidenced by a written opinion of counsel to the Company), unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note Debenture shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150125% of the outstanding principal amount of this NoteDebenture, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a HolderHxxxxx’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Company’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Ideanomics, Inc.

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, except as set forth below, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series C-1 Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series C-1 Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series C-1 Preferred Stock of such Holder shall have been sought and obtained, and Borrower posts a surety bond for obtained by the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgmentCorporation. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Stock Purchase Agreement (Agenus Inc)

Obligation Absolute. BorrowerSubject to Section 6.04 and subject to Xxxxxx’s obligations right to rescind a Notice of Optional Conversion pursuant to Section 6.05(a), the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series A Non-Voting Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6.04 and subject to Xxxxxx’s right to rescind a Notice of Optional Conversion pursuant to Section 6.05(a), however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall automatically convert or elect to convert any or all of its Series A Non-Voting Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note the Series A Non-Voting Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series A Non-Voting Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6.04 and subject to Holder’s right to rescind a Notice of Optional Conversion pursuant to Section 6.05(a), issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Selecta Biosciences Inc)

Obligation Absolute. BorrowerSubject to Section 6.4 and subject to Hxxxxx’s obligations right to rescind a Notice of Conversion pursuant to Section 6.5.1, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series C Non-Voting Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6.4 and subject to Hxxxxx’s right to rescind a Notice of Conversion pursuant to Section 6.5.1, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series C Non-Voting Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series C Non-Voting Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series C Non-Voting Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6.4 and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6.5.1, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Support Agreement (Traws Pharma, Inc.)

Obligation Absolute. BorrowerSubject to Sections 6(c) and 6(d) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(e)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Class A Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Sections 6(c) and 6(d) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(e)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Class A Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Class A Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Class A Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Sections 6(c) and 6(d) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(e)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Fate Therapeutics Inc)

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery . The Company shall not operate as issue Conversion Shares upon a waiver by Borrower of any such action Borrower may have against the Holderproperly noticed conversion. In the event that the Holder of this Note shall elect to convert any or all of the outstanding principal amount Outstanding Balance hereof, the Borrower may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note shall have been sought and obtained, and the Borrower posts a surety bond for the benefit of the Holder in the amount of 150% two hundred percent of the outstanding principal amount Outstanding Balance of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Borrow shall issue Conversion Shares or, if applicable, cash, conversion shares upon a properly noticed conversionsubmitted Conversion Notice. If All payments under this Note (whether made by the Borrower fails or any other person) to or for the account of the Holder hereunder shall be made free and clear of and without reduction by reason of any reason present and future income, stamp, registration and other taxes, levies, duties, costs and charges whatsoever imposed, assessed, levied or collected by the United States or any political subdivision or taxing authority thereof or therein, together with interest thereon and penalties with respect thereto, if any on or in respect of this Note (such taxes, levies, duties, costs and charges being herein collectively called “Taxes”). The Borrower shall not be required to pay any tax which may be payable in respect of any transfer involved in the issue and delivery of Ordinary Shares or other securities or property on conversion of this Note in a name other than that of the Holder (or in street name), and the Borrower shall not be required to issue or deliver any such shares or other securities or property unless and until the person or persons (other than the Holder or the custodian in whose street name such shares are to be held for the Holder’s account) requesting the issuance thereof shall have paid to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by Borrower the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights tax or shall not prohibit have established to the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable lawsatisfaction of the Borrower that such tax has been paid.

Appears in 1 contract

Samples: SMX (Security Matters) Public LTD Co

Obligation Absolute. BorrowerSubject to Section 6(ii) hereof and subject to a Series C Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(iii)(a) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series C Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Series C Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Series C Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Series C Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Series C Holder in connection with the issuance of such Conversion Shares; provided. Subject to the Beneficial Ownership Limitation herein and subject to a Series C Holder’s right to rescind a Conversion Notice pursuant to Section 6(iii)(a) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Series C Holder of this Note shall elect to convert any or all of its Series C Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Series C Holder or anyone any one Person associated or affiliated with the such Series C Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to such Series C Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series C Preferred Stock of such Series C Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Series C Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series C Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Series C Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to the Beneficial Ownership Limitation herein and subject to Series C Holder’s right to rescind a Conversion Notice pursuant to Section 6(iii)(a) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Corporation fails for any reason to deliver to the a Series C Holder such certificate or certificates certificates, or electronically deliver (or cause its transfer agent to electronically deliver) such shares in the case of a DWAC Delivery, pursuant to Section 4(c)(ii6(iii)(a) by on or prior to the Share Delivery DateDate applicable to such conversion (other than a failure caused by incorrect or incomplete information provided by Series C Holder to the Corporation), Borrower then, unless the Series C Holder has rescinded the applicable Conversion Notice pursuant to Section 6(iii)(a) above, the Corporation shall pay to the Holder, in cash, (as liquidated damages and not as a penalty) to such Series C Holder an amount payable in cash equal to two percent (2%) of the product of (x) the number of Conversion Shares required to have been issued by the Corporation on such Share Delivery Date, for each $1,000 (y) the Attributed Value and (z) the number of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day Business Days actually lapsed after such Share Delivery Date until during which such certificates are delivered or Holder rescinds have not been delivered, or, in the case of a DWAC Delivery, such conversionshares have not been electronically delivered. Nothing herein shall limit a Series C Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Series C Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Series C Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Series C Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Securities Exchange Agreement (Unique Logistics International Inc)

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series C Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series C Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series C Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series C Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Corporation fails for any reason to deliver to the a Holder such certificate or certificates certificates, or electronically deliver (or cause its transfer agent to electronically deliver) such shares in the case of a DWAC Delivery, pursuant to Section 4(c)(ii6(d)(i) by on or prior to the fifth (5th) Trading Day after the Share Delivery DateDate applicable to such conversion (other than a failure caused by incorrect or incomplete information provided by Holder to the Corporation), Borrower then, unless the Holder has rescinded the applicable Conversion Notice pursuant to Section 6(d)(i) above, the Corporation shall pay to the Holder, in cash, (as liquidated damages and not as a penalty) to such Holder an amount payable, at the Corporation’s option, either (a) in cash or (b) to the extent that it would not cause the Holder or its Attribution Parties to exceed the Beneficial Ownership Limitation, in shares of Common Stock that are valued for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day these purposes at the Closing Sale Price on the date of such calculation, in each case equal to the product of (x) the number of Conversion Shares required to have been issued by the Corporation on such Share Delivery Date, (y) an amount equal to the Daily Failure Amount and (z) the number of Trading Days actually lapsed after such fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such the Share Delivery Date until during which such certificates are delivered have not been delivered, or, in the case of a DWAC Delivery, such shares have not been electronically delivered; provided, however, the Holder shall only receive up to such amount of shares of Common Stock such that Holder and its Attribution Parties and any other persons or entities whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act (including shares held by any “group” of which the Holder rescinds such conversionis a member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth herein) shall not collectively beneficially own greater than the Beneficial Ownership Limitation. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Securities Exchange Agreement (Oncothyreon Inc.)

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note Debenture in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note Debenture shall elect to convert any or all of the outstanding principal amount hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note Debenture shall have been sought and obtained, and Borrower the Company posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this NoteDebenture, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason required to deliver to be delivered hereunder in accordance with the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversionterms hereof. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof 7 for Borrowerthe Company’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Enzo Biochem Inc

Obligation Absolute. BorrowerThe Corporation’s obligations to issue and deliver the Conversion Shares upon conversion of this Note Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the Holder or any other Personperson, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In the event the a Holder of this Note shall elect to convert any or all of its Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone any one associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless unless, an injunction from a court, on notice to Holdernotice, restraining and or enjoining conversion of all or part of this Note Preferred Stock shall have been sought and obtained, obtained and Borrower posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the Corporation shall pay any proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunctionan injunction precluding the same, Borrower the Corporation shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares certificates representing shares of Common Stock upon conversion within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Agreement for Share Exchange (Elite Artz, Inc)

Obligation Absolute. BorrowerSubject to Sections 6(c) and 6(d) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(e)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series C Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Sections 6(c) and 6(d) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(e)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series C Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series C Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series C Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Sections 6(c) and 6(d) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(e)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (T2 Biosystems, Inc.)

Obligation Absolute. BorrowerSubject to Section 6(e) below, the Corporation’s obligations obligation to issue and deliver the Conversion Shares upon conversion of this Note Series A Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Personperson, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Corporation of any such action Borrower that the Corporation may have against the such Holder. In Subject to Section 6(e) below, in the event the a Holder of this Note shall elect to convert any or all of the outstanding principal amount hereofStated Value of its Series A Preferred Stock, Borrower the Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series A Preferred Stock of such Holder shall have been sought and obtained, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount Stated Value of this Note, the Series A Preferred Stock which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Corporation shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Registration Rights Agreement (Cerecor Inc.)

Obligation Absolute. BorrowerThe Corporation’s obligations obligation to issue and deliver the Conversion Shares upon conversion of this Note Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Personperson, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Corporation of any such action Borrower that the Corporation may have against the such Holder. In the event the a Holder of this Note shall elect to convert any or all of the outstanding principal amount hereofStated Value of its Preferred Stock, Borrower the Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Preferred Stock of such Holder shall have been sought and obtained, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount Stated Value of this Note, Preferred Stock which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower the Corporation shall issue Conversion Shares orand, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (SANUWAVE Health, Inc.)

Obligation Absolute. BorrowerSubject to Section 6(c) and Section 6(d)(iv) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series A Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) and Section 6(d)(iv) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series A Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone any one associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series A Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series A Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) and Section 6(d)(iv) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrower’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Letter Agreement (Cullinan Oncology, Inc.)

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series D Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series D Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series D Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series D Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Corporation fails for any reason to deliver to the a Holder such certificate or certificates certificates, or electronically deliver (or cause its transfer agent to electronically deliver) such shares in the case of a DWAC Delivery, pursuant to Section 4(c)(ii6(d)(i) by on or prior to the fifth (5th) Trading Day after the Share Delivery DateDate applicable to such conversion (other than a failure caused by incorrect or incomplete information provided by Holder to the Corporation), Borrower then, unless the Holder has rescinded the applicable Conversion Notice pursuant to Section 6(d)(i) above, the Corporation shall pay to the Holder, in cash, (as liquidated damages and not as a penalty) to such Holder an amount payable, at the Corporation’s option, either (a) in cash or (b) to the extent that it would not cause the Holder or its Attribution Parties to exceed the Beneficial Ownership Limitation, in shares of Common Stock that are valued for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day these purposes at the Closing Sale Price on the date of such calculation, in each case equal to the product of (x) the number of Conversion Shares required to have been issued by the Corporation on such Share Delivery Date, (y) an amount equal to the Daily Failure Amount and (z) the number of Trading Days actually lapsed after such fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such the Share Delivery Date until during which such certificates are delivered have not been delivered, or, in the case of a DWAC Delivery, such shares have not been electronically delivered; provided, however, the Holder shall only receive up to such amount of shares of Common Stock such that Holder and its Attribution Parties and any other persons or entities whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act (including shares held by any “group” of which the Holder rescinds such conversionis a member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth herein) shall not collectively beneficially own greater than the Beneficial Ownership Limitation. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Subscription Agreement (Cascadian Therapeutics, Inc.)

Obligation Absolute. BorrowerThe Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Note Debenture in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to Borrower the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by Borrower the Company of any such action Borrower the Company may have against the Holder. In the event the Holder of this Note Debenture shall elect to convert any or all of the outstanding principal amount hereof, Borrower the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Note Debenture shall have been sought and obtained, or an opinion from legal counsel has been sought and Borrower posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Noteobtained, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Company’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Innovus Pharmaceuticals, Inc.

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series A Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series A Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to such Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series A Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series A Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) hereof and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that the Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Letter Agreement (ImmunoGen, Inc.)

Obligation Absolute. BorrowerSubject to Section 6(c) hereof and subject to Holder’s obligations right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series C Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series C Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series C Preferred Stock of such Holder shall have been sought and obtainedobtained by the Corporation, and Borrower the Corporation posts a surety bond for the benefit of the such Holder in the amount of 150% of the outstanding principal amount value of this Note, the Conversion Shares into which would be converted the Series C Preferred Stock which is subject to the such injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the such Holder to the extent it obtains judgment. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) hereof and subject to Holder’s right to rescind a Notice of Conversion pursuant to Section 6(d)(i) above, issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower the Corporation fails for any reason to deliver to the a Holder such certificate or certificates certificates, or electronically deliver (or cause its transfer agent to electronically deliver) such shares in the case of a DWAC Delivery, pursuant to Section 4(c)(ii6(d)(i) by on or prior to the fifth (5th) Trading Day after the Share Delivery DateDate applicable to such conversion (other than a failure caused by incorrect or incomplete information provided by Holder to the Corporation), Borrower then, unless the Holder has rescinded the applicable Notice of Conversion pursuant to Section 6(d)(i) above, the Corporation shall pay to the Holder, in cash, (as liquidated damages and not as a penalty) to such Holder an amount payable, at the Corporation’s option, either (a) in cash or (b) to the extent that it would not cause the Holder or its Attribution Parties to exceed the Beneficial Ownership Limitation, in shares of Common Stock that are valued for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day these purposes at the Closing Sale Price on the date of such calculation, in each case equal to the product of (x) the number of Conversion Shares required to have been issued by the Corporation on such Share Delivery Date, (y) an amount equal to the Daily Failure Amount and (z) the number of Trading Days actually lapsed after such fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such the Share Delivery Date until during which such certificates are delivered have not been delivered, or, in the case of a DWAC Delivery, such shares have not been electronically delivered; provided, however, the Holder shall only receive up to such amount of shares of Common Stock such that Holder and its Attribution Parties and any other persons or entities whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act (including shares held by any “group” of which the Holder rescinds such conversionis a member, but excluding shares beneficially owned by virtue of the ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar to the limitation set forth herein) shall not collectively beneficially own greater than the Beneficial Ownership Limitation. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

Appears in 1 contract

Samples: Investment Agreement (Spero Therapeutics, Inc.)

Obligation Absolute. BorrowerSubject to Section 6(c) and Section 6(d) and subject to Holder’s obligations right to rescind a Conversion Notice pursuant to Section 6(e)(i), the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of this Note Series X Preferred Stock in accordance with the terms hereof of this Certificate of Designation are absolute and unconditional, irrespective of any action or inaction by the a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the such Holder or any other Person of any obligation to Borrower the Corporation or any violation or alleged violation of law by the such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of Borrower the Corporation to the such Holder in connection with the issuance of such Conversion Shares; provided. Subject to Section 6(c) and Section 6(d) and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(e)(i), however, that such delivery shall not operate as a waiver by Borrower of any such action Borrower may have against the Holder. In in the event the a Holder of this Note shall elect to convert any or all of its Series X Preferred Stock, the outstanding principal amount hereof, Borrower Corporation may not refuse conversion based on any claim that the such Holder or anyone associated or affiliated with the such Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or and/or enjoining conversion of all or part of this Note the Series X Preferred Stock of such Holder shall have been sought and obtained, and Borrower posts a surety bond for obtained by the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgmentCorporation. In the absence of such injunction, Borrower shall the Corporation shall, subject to Section 6(c) and Section 6(d) and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(e)(i), issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If Borrower fails for any reason to deliver to the Holder such certificate or certificates pursuant to Section 4(c)(ii) by the Share Delivery Date, Borrower shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages being to accrue) for each Trading Day after such Share Delivery Date until such certificates are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for Borrowerthe Corporation’s failure to deliver Conversion Shares within the period specified herein and the such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided, that Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit the a Holder from seeking to enforce damages pursuant to any other Section hereof this Certificate of Designation or under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Alpine Immune Sciences, Inc.)

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