Common use of Suspension of Trading Clause in Contracts

Suspension of Trading. In addition to adjustments of the Repricing Price and any other rights and remedies which the Buyer has under this Agreement and under applicable law, for each Business Day on which trading in the shares of Common Stock is suspended or prohibited on the principal securities market for the Common Stock (including, if applicable, the OTC Bulletin Board), the Company shall pay the Buyer an amount equal to 0.2% of the product of (1) the number of Warrant Shares then held by the Buyer and (2) the Closing Price of the Common Stock on the Trading Day prior to such suspension or prohibition. The cumulative amount of such amounts which have accrued shall be paid by the Company to the Buyer every seven Business Days after the date of such suspension or prohibition.

Appears in 1 contract

Samples: Note Purchase Agreement (Newcom Inc)

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Suspension of Trading. In addition to adjustments of the Repricing Price and any other rights and remedies which the Buyer has Investors have under this Agreement and under applicable law, for each Business Day business day on which trading in the shares of Common Stock is suspended or prohibited on the principal securities market for the Common Stock (including, if applicable, the OTC Bulletin Board)Principal Market, the Company shall pay the Buyer Investors an amount equal to 0.2% of the product of (1) the number of Conversion Shares and Warrant Shares then held by the Buyer Investors or into which the Purchased Shares are then convertible and for which the Warrants are then exercisable and (2) the Closing Market Price of the Common Stock on the Trading Day trading day prior to such suspension or prohibition. The cumulative amount of such amounts which have accrued shall be paid by the Company to the Buyer Investors every seven Business Days (7) business days after the date of such suspension or prohibition.

Appears in 1 contract

Samples: Convertible Preferred Stock and Warrants Purchase Agreement (Atlantic Technology Ventures Inc)

Suspension of Trading. In addition to adjustments of the Repricing Price and any other rights and remedies which the Buyer has Investors have under this Agreement and under applicable law, for each Business Day business day on which trading in the shares of Common Stock is suspended or prohibited on the principal securities market for the Common Stock (including, if applicable, the OTC Bulletin Board)Principal Market, the Company shall pay the Buyer Investors an amount equal to 0.2% of the product of (1) the number of Conversion Shares and Warrant Shares then held by the Buyer Investors or into which the Debentures are then convertible and for which the Warrants are then exercisable and (2) the Closing Market Price of the Common Stock on the Trading Day prior to such suspension or prohibition. The cumulative amount of such amounts which that have accrued shall be paid by the Company to the Buyer Investors every seven (7) Business Days after the date of such suspension or prohibition.

Appears in 1 contract

Samples: Warrants Purchase Agreement (Datatec Systems Inc)

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Suspension of Trading. In addition to adjustments of the Repricing Price and any other rights and remedies which the Buyer has under this Agreement and under applicable law, for each Business Day on which trading in the shares of Common Stock is suspended or prohibited on the principal securities market for the Common Stock (including, if applicable, the OTC Bulletin Board), the Company shall pay the Buyer an amount equal to 0.2% of the product of (1) the number of Warrant Shares and Repricing Rights then held by the Buyer and (2) the Closing Price of the Common Stock on the Trading Day prior to such suspension or prohibition. The cumulative amount of such amounts which have accrued shall be paid by the Company to the Buyer every seven Business Days after the date of such suspension or prohibition.

Appears in 1 contract

Samples: Subscription Agreement (Newcom Inc)

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