An Exchange Offer Registration Statement pursuant to Section. 2(a) hereof or a Shelf Registration Statement pursuant to Section 2(b) hereof will not be deemed to have become effective unless it has been declared effective by the SEC; PROVIDED, HOWEVER, that, if, after it has been declared effective, the offering of Registrable Securities pursuant to a Shelf Registration Statement is interfered with by any stop order, injunction or other order or requirement of the SEC or any other governmental agency or court, such Registration Statement will be deemed not to have become effective during the period of such interference until the offering of Registrable Securities pursuant to such Registration Statement may legally resume. As provided for in the Indenture, in the event that the Exchange Offer is not consummated and the Shelf Registration Statement is not declared effective on or prior to December 12, 1998, interest on the Securities (in addition to the accrual of interest otherwise due on the Securities) will accrue from December 12, 1998, at a rate of 0.5% per annum, and be payable in cash semi-annually, commencing December 15, 1998, until the Exchange Offer is consummated or a Shelf Registration Statement is declared effective by the SEC.
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An Exchange Offer Registration Statement pursuant to Section. 2(a) hereof or a Shelf Registration Statement pursuant to Section 2(b) hereof will not be deemed to have become effective unless it has been declared effective by the SEC; PROVIDEDprovided, HOWEVERhowever, that, if, after it has been declared effective, the offering of Registrable Securities Notes pursuant to a Shelf Registration Statement is interfered with by any stop order, injunction or other order or requirement of the SEC or any other governmental agency or court, such Registration Statement will be deemed not to have become effective during the period of such interference until the offering of Registrable Securities Notes pursuant to such Registration Statement may legally resume. As provided for in the Indenture, in the event that the Exchange Offer is not consummated and the Shelf Registration Statement is not declared effective on or prior to December 12July 15, 19982000, interest on the Securities Notes (in addition to the accrual of interest (or original issue discount) otherwise due on the SecuritiesNotes) will accrue from December 12July 15, 19982000, at a rate of 0.50.5 % per annum, annum and be payable in cash semi-annually, commencing December January 15, 19982001, until the Exchange Offer is consummated or a the Shelf Registration Statement is declared effective by the SEC.
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Sources: Placement Agreement (Earthwatch Inc)
An Exchange Offer Registration Statement pursuant to Section. 2(a) hereof or a Shelf Registration Statement pursuant to Section 2(b) hereof will not be deemed to have become effective unless it has been declared effective by the SEC; PROVIDEDprovided, HOWEVERhowever, that, if, after it such Registration Statement has been declared effective, the offering of Registrable Securities pursuant to a Shelf Registration Statement is interfered with by any stop order, injunction or other order or requirement of the SEC or any other governmental agency or court, such Registration Statement will be deemed not to have become effective during the period of such interference until the offering of Registrable Securities pursuant to such Registration Statement may legally resume. As provided for in the Indenture, in In the event that (i) the Exchange Offer is not consummated and or the Shelf Registration Statement is not declared effective by the SEC on or prior to December 12February 25, 19982002, or (ii) the Shelf Registration Statement has been declared effective by the SEC but thereafter ceases to be effective without being succeeded within 45 days after the Shelf Registration Statement cease to be effective by an additional registration statement covering the Registrable Securities that is declared effective by the SEC, the interest rate on the Securities (in addition to the accrual of interest otherwise due on the Securities) will accrue from December 12, 1998, at a rate of 0.5be increased by .50% per annum, and be payable in cash semi-annually, commencing December 15, 1998, annum (the "Special Interest Premium") until the Exchange Offer is consummated or a the Shelf Registration Statement is declared effective by or again becomes effective, as the SECcase may be. All accrued Special Interest Premium shall be paid to the Holders in the same manner and on the same dates as interest is payable on the Notes.
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An Exchange Offer Registration Statement pursuant to Section. 2(a) hereof or a Shelf Registration Statement pursuant to Section 2(b) hereof will not be deemed to have become effective unless it has been declared effective by the SEC; PROVIDEDprovided, HOWEVERhowever, that, if, after it has been declared effective, the -------- ------- offering of Registrable Securities pursuant to a Shelf Registration Statement is interfered with by any stop order, injunction or other order or requirement of the SEC or any other governmental agency or court, such Registration Statement will be deemed not to have become effective during the period of such interference until the offering of Registrable Securities pursuant to such Registration Statement may legally resume. As provided for in the Indenture, in the event that the Exchange Offer is not consummated and the a Shelf Registration Statement is not declared effective on or prior to December 12March 30, 1998, the annual interest on rate borne by the Securities (in addition to the accrual of interest otherwise due on the Securities) will accrue from December 12, 1998, at a rate of be increased by 0.5% per annum, and be payable in cash semi-annually, commencing December 15, 1998, annum until the Exchange Offer is consummated or a the Shelf Registration Statement is declared effective by effective. Upon consummation of the SECExchange Offer or the effectiveness of the Shelf Registration Statement, the interest rate on the Securities will decrease to the original interest rate of 9-3/4% per annum.
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