Common use of Delay Fees Clause in Contracts

Delay Fees. If the Closing shall not actually occur on any date ---------- on which the Closing is scheduled to occur, and the Company shall have failed to notify each Investor prior to 10:00 A.M. local time, in the place in which an Investor is located, on the day prior to such scheduled Closing that such Closing has been postponed, the Company shall pay to each Investor (as compensation for such Investor's loss of fund and administrative costs) an amount equal to interest on the purchase price for the Securities to have been purchased by each such Investor on such scheduled date at such Closing, at the rate per annum on the Senior Subordinated Notes as if the Senior Subordinated Notes had been issued on the scheduled date of Closing, for each day from and including such scheduled date of Closing to but not including the earlier of the date on which such Closing actually occurs or the date on which the amount to be paid by each such Investor as said purchase price is available to such Investor for reinvestment, but in any case not less than one day's interest; provided, however, that the Company shall not -------- ------- owe any Investor any amount under this paragraph 13M if the Company has fulfilled all of its obligations under this Agreement and such Investor is not willing or able to fulfill its obligations on the scheduled date of Closing.

Delay Fees. If the Closing shall not actually occur on ---------- any date ---------- on which the Closing is scheduled to occur, and the Company shall have failed to notify each Investor the Purchasers prior to 10:00 A.M. local 1:00 P.M., New York time, in the place in which an Investor is located, on the day prior to date of such scheduled Closing that such Closing has been postponed, the Company shall pay to each Investor the Purchasers (as compensation for such Investor's the Purchasers' loss of fund funds and administrative costs) an amount of immediately available funds equal to interest on the purchase price for the Securities to have been purchased by each such Investor the Purchasers on such scheduled date at such Closing, Closing at the rate per annum on the Senior Subordinated Notes Securities which the Purchasers have agreed to purchase as if the Senior Subordinated Notes Securities had been issued on the scheduled date of Closing, for each day from and including such scheduled date of Closing to but not including the earlier of the date on which such Closing actually occurs or the date on which the amount to be paid by each such Investor the Purchasers as said purchase price is available to such Investor the Purchasers for reinvestment, but in any case not less than one day's interest; provided, --------- however, that the Company shall not -------- ------- owe any Investor any amount Purchaser anything under this paragraph 13M ------- Section 6.1 if the Company has fulfilled all of its obligations obligation under this Agreement and such Investor Purchaser is not willing or able to fulfill its obligations on the scheduled date of Closing.