Conversion Default Payments. If, at any time, (1) a Holder submits a --------------------------- Notice of Conversion (or is deemed to submit such notice pursuant to Section IV.H) and the Company fails for any reason to deliver, on or prior to the expiration of the Delivery Period for such conversion, such number of shares of Common Stock to which such Holder is entitled upon such conversion, or (2) the Company provides notice to any Holder at any time of its intention not to issue shares of Common Stock upon exercise by (including by way of public announcement) to such Holder in accordance with the terms of the Series A Preferred Stock or (3) the Company fails to deliver certificates representing Common Stock to the Holder free from any restrictive legend as required under the Securities Purchase Agreement (each of (1), (2) and (3) being a "Conversion ---------- Default"), then the Company shall pay to such Holder damages in an amount equal ------- to the product of (x) the Damages Amount times (y) Conversion Default Days times ----- ----- (2) 0.01, where:
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Conversion Default Payments. If, at any time, (1) a Holder submits a --------------------------- Notice of Conversion (or is deemed to submit such notice pursuant to Section IV.H) and the Company fails for any reason to deliver, on or prior to the expiration of the Delivery Period for such conversion, such number of shares of Common Stock to which such Holder is entitled upon such conversion, or (2) the Company provides notice to any Holder at any time of its intention not to issue shares of Common Stock upon exercise by (including by way of public announcement) to such Holder in accordance with the terms of the Series A B Preferred Stock or (3) the Company fails to deliver certificates representing Common Stock to the Holder free from any restrictive legend as required under the Securities Purchase Agreement (each of (1), (2) and (3) being a "Conversion ---------- Default"), then the Company shall pay to such Holder damages in an amount equal ------- to the product of (x) the Damages Amount times (y) Conversion Default Days times ----- ----- (2) 0.01, where:
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