Failure to Deliver Certificates. If, in the case of any Notice of Conversion, such certificate or certificates are not delivered to or as directed by the applicable Holder by the Share Delivery Date, the Holder shall be entitled to elect by written notice to the Company at any time on or before its receipt of such certificate or certificates, to rescind such Conversion, in which event the Company shall promptly return to the Holder any original Note delivered to the Company and the Holder shall promptly return to the Company the Common Stock certificates issued to such Holder pursuant to the rescinded Conversion Notice. Whether or not the Holder elects to rescind any such Conversion, the Company shall promptly, upon demand therefor, reimburse the Holder in cash for any fees and costs that the Holder may have directly or indirectly incurred by virtue of such untimely delivery or absolute delivery failure. Such fees and costs include, but are not limited to, interest charges, margin fees, and costs of “buy-in.” Further, the principal amount of the Note shall be increased by $1,000.00 for each calendar day that a failure to deliver the certificates continues.
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Samples: Uppercut Brands, Inc., Creative Medical Technology Holdings, Inc., Creative Medical Technology Holdings, Inc.
Failure to Deliver Certificates. If, in the case of any Notice of Conversion, such certificate or certificates are not delivered to or as directed by the applicable Holder by the Share Delivery Date, the Holder shall be entitled to elect by written notice to the Company at any time on or before its receipt of such certificate or certificates, to rescind such Conversion, in which event the Company shall promptly return to the Holder any original Note delivered to the Company and the Holder shall promptly return to the Company the Common Stock certificates issued to such Holder pursuant to the rescinded Conversion Notice. Whether or not the Holder elects to rescind any such Conversion, the Company shall promptly, upon demand therefor, reimburse the Holder in cash for any fees and costs that the Holder may have directly or indirectly incurred by virtue of such untimely delivery or absolute delivery failure. Such fees and costs include, but are not limited to, interest charges, and margin fees, and costs of “buy-in” in accordance with Section 4(c)(v) hereof.” Further, the principal amount of the Note shall be increased by $1,000.00 for each calendar day that a failure to deliver the certificates continues.
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