Common use of Failure to Register Clause in Contracts

Failure to Register. In the event that the Registration Statement is ------------------- not declared effective by the Commission on or before the Registration Deadline, then the Company shall pay to the Investor an amount equal to three percent (3%) of the Investor's original purchase price of the Registrable Securities per month, for each month that the Registration Statement has not been declared effective. Payment of amounts due and owing under this Section 2 shall be payable by the Company within thirty (30) days of its receipt of a written demand from the Investor.

Failure to Register. In the event that the Registration Statement ------------------- is ------------------- not declared effective by the Commission on or before the Registration Deadline, then the Company shall pay to the Investor an amount equal to three percent (3%) of the Investor's original purchase price of the Registrable Securities per month, for each month that the Registration Statement has not been declared effective. Payment of amounts due and owing under this Section 2 shall be payable by the Company within thirty (30) days of its receipt of a written demand from the Investor.