Consequence of Failure to Meet Conditions Clause Samples

Consequence of Failure to Meet Conditions. (a) The Company shall not issue Conversion Shares in a conversion of all or any part of any Amount Outstanding, to the Investor or its designee or nominee, without the prior written consent of the Investor if, on the issue of the relevant Shares, any of the conditions in clause 8.2 have not been fulfilled. (b) If the Company purports to issue Conversion Shares in breach of paragraph 8.3(a), the relevant issue will not be deemed to have been accepted by the Investor, such issuance shall be deemed not to have been undertaken for the purposes of this Agreement, and in the case of the Conversion Shares, that part of the Amount Outstanding which is purported to have been converted in accordance with clause 8.1 will be deemed to remain outstanding.
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Consequence of Failure to Meet Conditions. (a) The Company shall not issue Shares as discharge of all or any part of any Amount Outstanding, to the Investor or its nominee without the prior written consent of the Investor if, on the issue of the relevant Shares, any of the conditions in clause 6.1 have not been fulfilled. (b) If the Company issues Shares in breach of sub-clause 6.2(a): (i) the relevant Shares will be deemed not to have been accepted by the Investor and the Shares will be surrendered by the Investor and repurchased for cancellation by the Company, and the Investor agrees to co-operate to effect that repurchase and cancellation. The costs of such repurchase and cancellation will be borne by the Company and the Company shall indemnify the Investor in respect of any liability arising to the Investor in accordance with clause 16.2; and (ii) the obligation of the Company to deliver Shares in accordance with clause 5 will be deemed not to have been discharged.
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Related to Consequence of Failure to Meet Conditions

  • Effect of Failure to Comply Failure to comply with reporting requirements shall result in the withholding of funds, the return of improper payments or Unallowable Costs, will be considered a material breach of this Agreement and may be the basis to recover Grant Funds. Grantee's failure to comply with this ARTICLE XIII, ARTICLE XIV, or ARTICLE XV shall be considered prima facie evidence of a breach and may be admitted as such, without further proof, into evidence in an administrative proceeding before Grantor, or in any other legal proceeding. Grantee should refer to the State of Illinois Grantee Compliance Enforcement System for policy and consequences for failure to comply.

  • Failure to Fulfill Conditions In the event that either of the parties hereto determines that a condition to its respective obligations to consummate the transactions contemplated hereby cannot be fulfilled on or prior to the termination of this Agreement, it will promptly notify the other party.

  • Failure to Complete If Artist becomes ill, dies, or is otherwise unable or unwilling to complete the Project in accordance with the Agreement, any work already done on the Project will be the City’s property. The City will be entitled to withhold any sums not yet paid to Artist, and may use any such sums toward completion of the Project in any manner the City deems appropriate.

  • LIABILITY FOR FAILURE TO COMPLETE TRANSACTIONS If We do not

  • Stipulated Penalties for Failure to Comply with Certain Obligations As a contractual remedy, Extendicare and OIG hereby agree that failure to comply with certain obligations as set forth in this CIA may lead to the imposition of the following monetary penalties (hereinafter referred to as “Stipulated Penalties”) in accordance with the following provisions. 1. A Stipulated Penalty of $2,500 (which shall begin to accrue on the day after the date the obligation became due) for each day Extendicare fails to establish and effectively implement any of the following obligations as described in Section III: a. a Compliance Officer; b. a Compliance Committee;