Common use of Failure to Timely Deliver; Buy-In Clause in Contracts

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Securities Purchase Agreement (Iceweb Inc)

Failure to Timely Deliver; Buy-In. If (x) the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer the Purchaser by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer the Purchaser that is free from all restrictive and other legends or (ii) credit the balance account of such Buyerthe Purchaser’s or such Buyerthe Purchaser’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of and (Ay) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer the Purchaser (or any other Person in respect, or on behalf, of such Buyerthe Purchaser) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer the Purchaser of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer the Purchaser so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyerthe Purchaser, the Company shall, within three (3) Trading Days after such Buyerthe Purchaser’s written request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer the Purchaser in an amount equal to such Buyerthe Purchaser’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyerthe Purchaser’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer the Purchaser a certificate or certificates or credit such Buyerthe Purchaser’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer the Purchaser in an amount equal to the excess (if any) of the Buy-In Price over minus the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer the Purchaser by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O WarrantsWarrant) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the has so issued such delivered and made such payment in each case may be) and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Subscription Agreement (ARCA Biopharma, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion shares of Common Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the sum of the number of shares of Common Stock not so delivered Shares or credited Warrant Shares (as the case may be) not issued to such Buyer or on a timely basis and to which such Buyer’s nominee multiplied by Buyer is entitled and (B) the Closing Sale Price (as defined in the Warrants) of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Common Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Usa Technologies Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) following registration on a Registration Statement, credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares Securities so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited Exercise Price (as defined in the case may beapplicable Warrant) attributable to the Securities that the issuance or credit of such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Datewas not timely effected. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three two (32) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Neurotrope, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails fails, for any reason or for no reason, to (i) issue and deliver (or cause to be delivered) to a Buyer the Holder (or its designee) by the Required Delivery Date Date, if the Transfer Agent is not participating in FAST, a certificate representing for the Securities so delivered number of New Conversion Shares to which the Company by Holder is entitled and register such Buyer that New Conversion Shares on the Company’s share register or, if the Transfer Agent is free from all restrictive and other legends or (ii) participating in FAST, to credit the balance account of such Buyerthe Holder or the Holder’s or such Buyer’s nominee designee with DTC for such number of New Conversion Shares or Warrant Shares so delivered submitted for legend removal by the Holder pursuant to the CompanySection 23.4 above (a “Delivery Failure”), then, in addition to all other remedies available to such Buyerthe Holder, the Company shall pay in cash to such Buyer the Holder on each Trading Day day after the Required Share Delivery Date that the issuance or credit of and during such shares is not timely effected Delivery Failure an amount equal to 12% of the product of (A) the sum of the number of shares of Common Stock not so delivered issued to the Holder on or credited (as prior to the case may be) Required Delivery Date and to such Buyer or such Buyer’s nominee multiplied by which the Holder is entitled, and (B) the Closing Sale Price any trading price of the Common Stock selected by the Holder in writing as in effect at any time during the period beginning on the Trading Day immediately preceding date of the Required delivery by the Holder to the Company of the applicable New Conversion Shares and ending on the applicable Share Delivery Date. In addition to the foregoing, if on or prior to the Required Delivery Date if the Transfer Agent is not participating in FAST, the Company fails shall fail to so properly issue and deliver a certificate to the Holder and register such unlegended certificates or so properly shares of Common Stock on the Company’s share register or, if the Transfer Agent is participating in FAST, credit the balance account of such Buyerthe Holder or the Holder’s or such Buyer’s nominee designee with DTC for the number of shares of Common Stock to which the Holder submitted for legend removal by the Required Delivery DateHolder pursuant to Section 23.4 above, and if on or after such Trading Day the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases Holder acquires (in an open market transaction transaction, stock loan or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal corresponding to all or any portion of the number of shares of Common Stock, Stock issuable upon such conversion that such Buyer so anticipated receiving the Holder is entitled to receive from the Company without any restrictive legendand has not received from the Company in connection with such Delivery Failure (a “Buy-In”), then, in addition to all other remedies available to such Buyer, then the Company shall, within three one (31) Trading Days Day after such Buyerthe Holder’s request and in such Buyerthe Holder’s sole discretion, either (i) pay cash to such Buyer the Holder in an amount equal to such Buyerthe Holder’s total purchase price (including brokerage commissions commissions, stock loan costs and other out-of-pocket expenses, if any) , for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if anyacquired) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyerthe Holder’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer the Holder a certificate or certificates or credit such Buyerthe balance account of the Holder or the Holder’s designee with DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of New Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer the Holder by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O WarrantsC Certificate of Designations) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer the Holder to the Company of the applicable New Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii). Nothing shall limit the Holder’s right to pursue any other remedies available to it hereunder, at law or in equity, including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver certificates representing shares of Common Stock (or to electronically deliver such shares of Common Stock) as required pursuant to the terms hereof. Notwithstanding anything herein to the contrary, with respect to any given Delivery Failure, this Section 23.5 shall not apply to the applicable Holder the extent the Company has already paid such amounts in full to the Holder with respect to such Delivery Failure pursuant to the analogous sections of the Series C Certificate of Designations.

Appears in 1 contract

Sources: Third Amendment and Exchange Agreement (ECD Automotive Design, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day (as defined in the Warrant) after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price (as defined in the Warrants) of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three five (35) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Securities Purchase Agreement (Freeseas Inc.)

Failure to Timely Deliver; Buy-In. If In addition to any other rights available to the Company fails Sellers, if Sellers have made all notifications and deliveries to the Transfer Agent and EFI contemplated by paragraph (i) b), EFI fails, for any reason or for no reason, to issue and deliver (or cause to be delivered) to a Buyer Seller (or its designee) by the later of the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or three (ii3) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day Canadian Business Days after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC receipt by the Required Delivery DateTransfer Agent and EFI of all such required notifications and deliveries, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of date such Buyer) purchases Seller is required by its broker to purchase (in an open market transaction or otherwise) shares of Common Stock or such Seller’s brokerage firm otherwise purchases, EFI Shares to deliver in satisfaction of a sale by such Buyer of all or any portion Seller of the number of shares of Common StockClosing EFI Shares (a “Buy-In”), or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three then EFI shall (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i1) pay in cash to such Buyer in an the Seller the amount equal to such Buyerby which (x) the Seller’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock EFI Shares so purchased exceeds (including brokerage commissions and other out-of-pocket expensesy) the amount obtained by multiplying (A) the number of Closing EFI Shares that EFI was required to deliver times (B) the price at which the sell order giving rise to such purchase obligation was executed. For example, if any) (the “such Seller purchases EFI Shares having a total purchase price of $11,000 to cover a Buy-In Price”)with respect to an attempted sale of Closing EFI Shares with an aggregate sale price giving rise to such purchase obligation of $10,000, at which point under clause (1) of the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares immediately preceding sentence EFI shall be cancelled, or (ii) promptly honor its obligation required to so deliver pay such Seller $1,000. Such Seller shall provide EFI with written notice indicating the amounts payable to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer Seller in an amount equal to the excess (if any) respect of the Buy-In Price over and, upon request of EFI, evidence of the product amount of (A) such number loss. Nothing shall limit such Seller’s right to pursue any other remedies available to it hereunder, at law or in equity, including, without limitation, a decree of shares of Conversion Shares or Warrant specific performance and/or injunctive relief with respect to EFI’s failure to timely deliver certificates representing EFI Shares (or to electronically deliver such shares) as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer pursuant to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)terms hereof.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Energy Fuels Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s 's or such Buyer’s 's nominee with DTC for such number of Conversion shares of Common Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 12% of the product of (A) the sum of the number of shares of Common Stock not so delivered Shares or credited Warrant Shares (as the case may be) not issued to such Buyer or on a timely basis and to which such Buyer’s nominee multiplied by Buyer is entitled and (B) the Closing Sale Price (as defined in the Warrants) of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s 's or such Buyer’s 's nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s 's request and in such Buyer’s 's sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s 's total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other outthe "BUY-of-pocket expenses, if any) (the “Buy-In Price”IN PRICE"), at which point the Company’s 's obligation to so deliver such certificate or credit such Buyer’s 's balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s 's DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Common Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Imaging3 Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares, Interest Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Pacific Ethanol, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price (as defined in the applicable Note or Warrant) of the Common Stock on the Trading Day (as defined in the applicable Note or Warrant) immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares, Interest Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (WPCS International Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion shares of Common Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the sum of the number of shares of Common Stock not so delivered Shares or credited Warrant Shares (as the case may be) not issued to such Buyer or on a timely basis and to which such Buyer’s nominee multiplied by Buyer is entitled and (B) the Closing Sale Price (as defined below) of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Common Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Royale Energy Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares Securities so delivered to the CompanyCompany by the Required Delivery Date, then, in addition to all other remedies available to such Buyer, at the sole discretion of such Buyer, the Company shall shall: (i) pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and ; or (ii) if on or after the Required Delivery Date Date, such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock (the “Replacement Shares”) equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three one (31) Trading Days Day after such Buyer▇▇▇▇▇’s request and in such Buyer’s sole discretion, either (iA) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock Replacement Shares so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (iiB) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A1) such number of shares of Conversion Shares or Warrant Shares (as the case may be) Common Stock that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B2) the lowest Closing Sale Price (as defined in the Series O WarrantsConvertible Notes) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Replacement Shares (as the case may be) and ending on the date of such delivery and payment under this clause (iiB).

Appears in 1 contract

Sources: Securities Purchase Agreement (Nuburu, Inc.)

Failure to Timely Deliver; Buy-In. If the Company is a Reporting Company and the Company improperly fails to (i) issue and deliver dispatch for delivery (or cause to be deliveredso dispatched) to a Buyer Designated Recipient by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such BuyerDesignated Recipient’s or such BuyerDesignated Recipient’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the business day immediately following the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legendlegend (the “Buy-In Shares”), then, in addition to all other remedies available to such Buyer, then the Company shall, within three five (35) Trading Business Days after such Buyer’s request and in such Buyer’s sole discretion, either (ix) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-out of pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other outsuch Buy-of-pocket expenses, if any) In Shares (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such BuyerDesignated Recipient’s balance account shall terminate and such shares shall be cancelled, or (iiy) promptly honor its obligation to so deliver to such Buyer Designated Recipient a certificate or certificates or credit such BuyerDesignated Recipient’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer Designated Recipient by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O Warrants) closing sale price of the Common Stock on any Trading Day the Business Days during the period commencing on the date of the delivery by such Buyer Designated Recipient to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (iiy).

Appears in 1 contract

Sources: Securities Purchase Agreement (Atomera Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares Securities so delivered to the CompanyCompany by the Required Delivery Date, then, in addition to all other remedies available to such Buyer, at the sole discretion of such Buyer, the Company shall shall: (i) pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates ; or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and (ii) if on or after the Required Delivery Date Date, such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock (the “Replacement Shares”) equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three one (31) Trading Days Day after such Buyer’s request and in such Buyer’s sole discretion, either (iA) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock Replacement Shares so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (iiB) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A1) such number of shares of Conversion Shares or Warrant Shares (as the case may be) Common Stock that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B2) the lowest Closing Sale Price (as defined in the Series O WarrantsConvertible Notes) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Replacement Shares (as the case may be) and ending on the date of such delivery and payment under this clause (iiB).

Appears in 1 contract

Sources: Securities Purchase Agreement (Nuburu, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails fails, for any reason or for no reason, to (i) issue and deliver (or cause to be delivered) to a Buyer the Holder (or its designee) by the Required Delivery Date Date, if the Transfer Agent is not participating in the DTC Fast Automated New Securities Transfer Program, a certificate representing for the number of New Conversion Shares to which the Holder is entitled and register such New Conversion Shares on the Company’s share register or, if the Transfer Agent is participating in the DTC Fast Automated New Securities so delivered Transfer Program, to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyerthe Holder or the Holder’s or such Buyer’s nominee designee with DTC for such number of New Conversion Shares or Warrant Shares so delivered submitted for legend removal by the Holder pursuant to the CompanySection 7(d) above (a “Delivery Failure”), then, in addition to all other remedies available to such Buyerthe Holder, the Company shall pay in cash to such Buyer the Holder on each Trading Day day after the Required Share Delivery Date that the issuance or credit of and during such shares is not timely effected Delivery Failure an amount equal to 12% of the product of (A) the sum of the number of shares of Common Stock not so delivered issued to the Holder on or credited (as prior to the case may be) Required Delivery Date and to such Buyer or such Buyer’s nominee multiplied by which the Holder is entitled, and (B) the Closing Sale Price any trading price of the Common Stock selected by the Holder in writing as in effect at any time during the period beginning on the Trading Day immediately preceding date of the Required delivery by the Holder to the Company of the applicable New Conversion Shares and ending on the applicable Share Delivery Date. In addition to the foregoing, if on or prior to the Required Delivery Date either (I) if the Transfer Agent is not participating in the DTC Fast Automated New Securities Transfer Program, the Company fails shall fail to so properly issue and deliver a certificate to the Holder and register such unlegended certificates or so properly shares of Common Stock on the Company’s share register or, if the Transfer Agent is participating in the DTC Fast Automated New Securities Transfer Program, credit the balance account of such Buyerthe Holder or the Holder’s or such Buyer’s nominee designee with DTC for the number of shares of Common Stock to which the Holder submitted for legend removal by the Required Delivery DateHolder pursuant to Section 7(d) above (ii) below, and if on or after such Trading Day the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) Holder purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number Holder of shares of Common Stock equal submitted for legend removal by the Holder pursuant to all or any portion of Section 7(d) above that the number of shares of Common Stock, that such Buyer so anticipated receiving Holder is entitled to receive from the Company without any restrictive legend(a “Buy-In”), then, in addition to all other remedies available to such Buyer, then the Company shall, within three two (32) Trading Days after such Buyerthe Holder’s request and in such Buyerthe Holder’s sole discretion, either (i) pay cash to such Buyer the Holder in an amount equal to such Buyerthe Holder’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) , for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if anypurchased) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyerthe Holder’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer the Holder a certificate or certificates or credit such Buyerthe balance account of the Holder or the Holder’s designee with DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of New Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer the Holder by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O WarrantsNew Note) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer the Holder to the Company of the applicable New Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii). Nothing shall limit the Holder’s right to pursue any other remedies available to it hereunder, at law or in equity, including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver certificates representing shares of Common Stock (or to electronically deliver such shares of Common Stock) as required pursuant to the terms hereof. Notwithstanding anything herein to the contrary, with respect to any given Delivery Failure, this Section 7(e) shall not apply to the Holder the extent the Company has already paid such amounts in full to the Holder with respect to such Delivery Failure, as applicable, pursuant to the analogous sections of the New Note, as applicable, held by the Holder.

Appears in 1 contract

Sources: Amendment and Exchange Agreement (Innovate Biopharmaceuticals, Inc.)

Failure to Timely Deliver; Buy-In. If For any Buyer that has converted the Company Notes into Conversion Shares if the SPAC fails to (i) to, for any reason or for no reason, issue and deliver (or cause to be delivered) to a Buyer (or its designee) by the Required Delivery Date Date, either if the Transfer Agent is not participating in FAST, a certificate representing for the number of Exchange Securities so delivered to the Company by which such Buyer that is free from all restrictive entitled and other legends or (ii) register such Exchange Securities on the SPAC’s share register or, if the Transfer Agent is participating in FAST, to credit the balance account of such Buyer’s Buyer or such Buyer’s nominee designee with DTC for such number of Conversion Shares or Warrant Shares so delivered Exchange Securities to the Companywhich such Buyer is entitled (a “Delivery Failure”), then, in addition to all other remedies available to such Buyer, the Company SPAC shall pay in cash to such Buyer on each Trading Day day after the Required Share Delivery Date that the issuance or credit of and during such shares is not timely effected Delivery Failure an amount equal to 12% of the product of (A) the sum of the number of shares of Common Stock not so delivered or credited (as the case may be) issued to such Buyer on or prior to the Required Delivery Date and to which such Buyer’s nominee multiplied by Buyer is entitled, and (B) the Closing Sale Price any trading price of the Common Stock selected by such Buyer in writing as in effect at any time during the period beginning on the Trading Day immediately preceding Required Delivery Date and ending on the Required applicable Share Delivery Date. In addition to the foregoing, if on or prior to the Company fails Required Delivery Date, if the Transfer Agent is not participating in FAST, the SPAC shall fail to so properly issue and deliver a certificate to a Buyer and register such unlegended certificates or so properly shares of Common Stock on the SPAC’s share register or, if the Transfer Agent is participating in FAST, credit the balance account of such Buyer’s Buyer or such Buyer’s nominee designee with DTC by for the Required Delivery Datenumber of shares of Exchange Securities to which such Buyer is entitled, and if on or after the Required Delivery Date such Trading Day such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal Exchange Securities to all or any portion of the number of shares of Common Stock, that which such Buyer so anticipated receiving is entitled to receive from the Company without any restrictive legendSPAC (a “Buy-In”), then, in addition to all other remedies available to such Buyer, then the Company SPAC shall, within three two (32) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) , for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if anypurchased) (the “Buy-In Price”), at which point the CompanySPAC’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit the balance account of such Buyer or such Buyer’s designee with DTC account representing such number of shares of Common Stock that would have been so delivered if the Company SPAC timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) Exchange Securities that the Company SPAC was required to deliver to such Buyer by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O WarrantsNotes) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) Required Delivery Date and ending on the date of such delivery and payment under this clause (ii). Nothing shall limit such ▇▇▇▇▇’s right to pursue any other remedies available to it hereunder, at law or in equity, including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s or SPAC’s, as applicable, failure to timely deliver certificates representing shares of Common Stock (or to electronically deliver such shares of Common Stock) as required pursuant to the terms hereof. Notwithstanding anything herein to the contrary, with respect to any given Delivery Failure, this Section 5(e) shall not apply to the applicable Buyer to the extent the SPAC has already paid such amounts in full to such Buyer with respect to such Delivery Failure, as applicable, pursuant to the analogous sections of the Note held by such Buyer.

Appears in 1 contract

Sources: Securities Purchase Agreement (GigCapital5, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver credit (or cause to be deliveredcredited) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares Securities so delivered to the Company, then, in addition to all other remedies available to such Buyer, at the sole discretion of Buyer, the Company shall shall: (i) pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and ; or (ii) if on or after the Required Delivery Date such Date, Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock (“Replacement Shares”) to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three five (35) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (ix) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) Replacement Shares (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, cancelled or (iiB) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A1) such number of shares of Conversion Shares or Warrant Shares (as the case may be) Common Stock that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B2) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion purchased Replacement Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Securities Purchase Agreement (Net Element, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such BuyerB▇▇▇▇’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares Securities so delivered to the CompanyCompany by the Required Delivery Date, then, in addition to all other remedies available to such Buyer, at the sole discretion of Buyer, the Company shall shall: (i) pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and ; or (ii) if on or after the Required Delivery Date such Date, Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock (the “Replacement Shares”) equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three one (31) Trading Days Day after such Buyer’s request and in such Buyer’s sole discretion, either (iA) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock Replacement Shares so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (iiB) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A1) such number of shares of Conversion Shares or Warrant Shares (as the case may be) Common Stock that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B2) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Replacement Shares (as the case may be) and ending on the date of such delivery and payment under this clause (iiB).

Appears in 1 contract

Sources: Securities Purchase Agreement (Mullen Automotive Inc.)

Failure to Timely Deliver; Buy-In. If At any time following the Business Combination Closing, for any Buyer that has converted the Notes into Conversion Shares if the Combined Company fails to (i) to, for any reason or for no reason, issue and deliver (or cause to be delivered) to a Buyer (or its designee) by the Required Delivery Date Date, either if the Transfer Agent is not participating in FAST, a certificate representing for the number of Exchange Securities so delivered to the Company by which such Buyer that is free from all restrictive entitled and other legends or (ii) register such Exchange Securities on the Combined Company’s share register or, if the Transfer Agent is participating in FAST, to credit the balance account of such Buyer’s Buyer or such Buyer’s nominee designee with DTC for such number of Conversion Shares or Warrant Shares so delivered Exchange Securities to the Companywhich such Buyer is entitled (a “Delivery Failure”), then, in addition to all other remedies available to such Buyer, the Combined Company shall pay in cash to such Buyer on each Trading Day day after the Required Share Delivery Date that the issuance or credit of and during such shares is not timely effected Delivery Failure an amount equal to 12% of the product of (A) the sum of the number of shares of Common Stock not so delivered or credited (as the case may be) issued to such Buyer on or prior to the Required Delivery Date and to which such Buyer’s nominee multiplied by Buyer is entitled, and (B) the Closing Sale Price any trading price of the Common Stock selected by such Buyer in writing as in effect at any time during the period beginning on the Trading Day immediately preceding Required Delivery Date and ending on the Required applicable Share Delivery Date. In addition to the foregoing, if on or prior to the Required Delivery Date, if the Transfer Agent is not participating in FAST, the Combined Company fails shall fail to so properly issue and deliver a certificate to a Buyer and register such unlegended certificates or so properly shares of Common Stock on the Combined Company’s share register or, if the Transfer Agent is participating in FAST, credit the balance account of such Buyer’s Buyer or such Buyer’s nominee designee with DTC by for the Required Delivery Datenumber of shares of Exchange Securities to which such Buyer is entitled, and if on or after the Required Delivery Date such Trading Day such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal Exchange Securities to all or any portion of the number of shares of Common Stock, that which such Buyer so anticipated receiving is entitled to receive from the Combined Company without any restrictive legend(a “Buy-In”), then, in addition to all other remedies available to such Buyer, then the Combined Company shall, within three two (32) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) , for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if anypurchased) (the “Buy-In Price”), at which point the Combined Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit the balance account of such Buyer or such Buyer’s designee with DTC account representing such number of shares of Common Stock that would have been so delivered if the Combined Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) Exchange Securities that the Combined Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O WarrantsNotes) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) Required Delivery Date and ending on the date of such delivery and payment under this clause (ii). Nothing shall limit such ▇▇▇▇▇’s right to pursue any other remedies available to it hereunder, at law or in equity, including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s or Combined Company’s, as applicable, failure to timely deliver certificates representing shares of Common Stock (or to electronically deliver such shares of Common Stock) as required pursuant to the terms hereof. Notwithstanding anything herein to the contrary, with respect to any given Delivery Failure, this Section 6(d) shall not apply to the applicable Buyer to the extent the Combined Company has already paid such amounts in full to such Buyer with respect to such Delivery Failure, as applicable, pursuant to the analogous sections of the Note held by such Buyer.

Appears in 1 contract

Sources: Senior Secured Note Purchase Agreement (Berenson Acquisition Corp. I)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of shares of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 12% of the product original principal amount of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery DateNote. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Tapimmune Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer Purchaser by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer Purchaser that is free from all restrictive and other legends or (ii) credit the balance account of such BuyerPurchaser’s or such BuyerPurchaser’s nominee with DTC for such number of Conversion Common Shares or Warrant Conversion Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) Purchaser purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number Purchaser of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so Purchaser anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such BuyerPurchaser, the Company shall, within three (3) Trading Days after such BuyerPurchaser’s request and in such BuyerPurchaser’s sole discretion, either (i) pay cash to such Buyer Purchaser in an amount equal to such BuyerPurchaser’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such BuyerPurchaser’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer Purchaser a certificate or certificates or credit such BuyerPurchaser’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer Purchaser in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer Purchaser by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to Required Delivery Date. For so long as any Purchaser owns Securities, the Company will not effect or publicly announce its intention to effect any exchange, recapitalization or other transaction that effectively requires or rewards physical delivery of certificates evidencing the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date shares of such delivery and payment under this clause (ii)Common Stock.

Appears in 1 contract

Sources: Securities Purchase Agreement (Dialogic Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to, for any reason or for no reason, to (i) issue and deliver (or cause to be delivered) to a the Buyer (or its designee) by the Required Delivery Date Date, either (I) if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program or the Company’s securities are not DTC eligible, a certificate representing for the number of Note Conversion Shares, Warrant Conversion Shares, or Purchase Right Conversion Shares to which the Buyer is entitled and register such Note Conversion Shares, Warrant Conversion Shares, or Purchase Right Conversion Shares on the Company’s share register or, (II) if the Transfer Agent is participating in the DTC Fast Automated Securities so delivered Transfer Program, to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such the Buyer or the Buyer’s or such Buyer’s nominee designee with DTC for such number of Note Conversion Shares, Warrant Shares, or Purchase Right Shares or Warrant Shares so delivered submitted for legend removal by the Buyer pursuant to Section 5(d) above (the Companyevent described in the immediately foregoing clause (I) above, thena “Delivery Failure”),then, in addition to all other remedies available to such the Buyer, the Company shall pay in cash to such the Buyer on each Trading Day day after the Required Share Delivery Date that the issuance or credit of and during such shares is not timely effected Delivery Failure an amount equal to 12% of the product of (A) the sum of the number of shares of Common Stock not so delivered issued to the Buyer on or credited (as prior to the case may be) Required Delivery Date and to such which the Buyer or such Buyer’s nominee multiplied by is entitled, and (B) the Closing Sale Price any trading price of the Common Stock selected by the Buyer in writing as in effect at any time during the period beginning on the Trading Day immediately preceding date of the Required delivery by the Buyer to the Company of the applicable Note Conversion Shares, Warrant Conversion Shares, or Purchase Right Conversion Shares and ending on the applicable Share Delivery Date. In addition to the foregoing, if on or prior to the Required Delivery Date either (I) if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program, the Company fails shall fail to so properly issue and deliver a certificate to the Buyer and register such unlegended certificates or so properly shares of Common Stock on the Company's share register or, if the Transfer Agent is participating in the DTC Fast Automated Securities Transfer Program, credit the balance account of such the Buyer or the Buyer’s or such Buyer’s nominee designee with DTC for the number of shares of Common Stock to which the Buyer submitted for legend removal by the Required Buyer pursuant to Section 5(d) above (ii) below or (II) a Delivery DateFailure occurs, and if on or after such Trading Day the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such the Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal submitted for legend removal by the Buyer pursuant to all or any portion of Section 5(d) above that the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend(a “Buy-In”), then, in addition to all other remedies available to such Buyer, then the Company shall, within three (3) Trading Business Days after such the Buyer’s request and in such the Buyer’s sole discretion, either (i) pay cash to such the Buyer in an amount equal to such the Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) , for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if anypurchased) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such the Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such the Buyer a certificate or certificates or credit such the balance account of the Buyer or the Buyer’s designee with DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such the Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Note Conversion Shares, Warrant Shares, or Purchase Right Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such the Buyer by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O WarrantsNotes) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such the Buyer to the Company of the applicable Note Conversion Shares, Warrant Shares, or Purchase Right Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii). Nothing shall limit the Buyer’s right to pursue any other remedies available to it hereunder, at law or in equity, including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver certificates representing shares of Common Stock (or to electronically deliver such shares of Common Stock) as required pursuant to the terms hereof. Notwithstanding anything herein to the contrary, with respect to any given Delivery Failure, this Section 5(e) shall not apply to the Buyer to the extent the Company has already paid such amounts in full to the Buyer with respect to such Delivery Failure, as applicable, pursuant to the analogous sections of the Note held by the Buyer.

Appears in 1 contract

Sources: Securities Purchase Agreement (Avant Diagnostics, Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Common Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, Stock that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (iA) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (iiB) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (AI) such number of shares of Conversion Common Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (BII) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Common Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (iiB). If requested by the Company, such Buyer shall provide the Company written notice indicating the amounts payable to the Buyer in respect of the Buy-In and, upon request of the Company, reasonable evidence of the amount of such loss.

Appears in 1 contract

Sources: Securities Purchase Agreement (Intercloud Systems, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares Securities so delivered to the Company, then, in addition to all other remedies available to such Buyer, at the sole discretion of Buyer, the Company shall shall: (i) pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 12% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and ; or (ii) if on or after the Required Delivery Date such Date, Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three five (35) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (iA) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (iiB) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A1) such number of shares of Conversion Shares or Warrant Shares (as the case may be) Common Stock that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B2) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (iiB).. DM_US 86580026-11.096039.0012 ▇▇▇▇-▇▇▇▇-▇▇▇▇, v. 1

Appears in 1 contract

Sources: Securities Purchase Agreement (Skyline Medical Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Interest Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount in cash equal to 11.5% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price (as defined in the applicable Note) of the Common Stock on the Trading Day (as defined in the applicable Note) immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Interest Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O WarrantsNote) of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Crumbs Bake Shop, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer warrant holder by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer warrant holder that is free from all restrictive and other legends or (ii) credit the balance account of such Buyerwarrant holder’s or such Buyerwarrant holder’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyerwarrant holder, the Company shall pay in cash to such Buyer warrant holder on each Trading Day (as defined in the Warrant) after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer warrant holder or such Buyerwarrant holder’s nominee multiplied by (B) the Closing Sale Price (as defined in the Warrants) of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyerwarrant holder’s or such Buyerwarrant holder’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person person in respect, or on behalf, of such Buyerwarrant holder) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer warrant holder of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer warrant holder so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyerwarrant holder, the Company shall, within three five (35) Trading Days after such Buyerwarrant holder’s request and in such Buyerwarrant holder’s sole discretion, either (i) pay cash to such Buyer warrant holder in an amount equal to such Buyerwarrant holder’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyerwarrant holder’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyerwarrant holder’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer warrant holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer warrant holder by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer warrant holder to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Consulting Agreement (22nd Century Group, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities Conversion Shares or Warrant Shares (as the case may be) so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of shares of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, but subject to the Limitation on Damages (as defined in the Certificate of Designation), the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 11.0% of the product of (A) the sum of the number of shares of Common Stock not so delivered Conversion Shares or credited Warrant Shares (as the case may be) not issued to such Buyer or on a timely basis and to which such Buyer’s nominee multiplied by Buyer is entitled and (B) the Closing Sale Price (as defined in the Certificate of Designation) of the shares of Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legendlegend (a “Buy-In”), then, in addition to all other remedies available to such Buyer, then the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (City Language Exchange Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) use its best efforts to issue and deliver (or cause to be delivered) to a Buyer by the Holder within two (2) Business Days following the Required Delivery Date a certificate representing the Securities required to be so delivered by the Company to the Company by such Buyer Holder that is free from all restrictive and other legends or (ii) credit the balance account of such Buyerthe Holder’s or such Buyerthe Holder’s nominee with DTC for within two (2) Business Days following the Required Delivery Date with such number of Conversion Common Shares or Warrant Shares required to be so delivered to by the Company, then, in addition to all other remedies available to such Buyerthe Holder, the Company shall pay in cash to such Buyer the Holder on each Trading day after such second (2nd) Business Day after following the Required Delivery Date that the such issuance or credit of such shares is not timely effected an amount equal to 10.5% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price aggregate principal amount of the Common Stock on the Trading Day immediately preceding the Required Delivery DateNotes exchanged hereunder. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyerthe Holder’s or such Buyerthe Holder’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) the Holder purchases (in an open market transaction or otherwise) shares of Common Stock Shares to deliver in satisfaction of a sale by such Buyer the Holder of all or any portion of Securities that the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so Holder anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyerthe Holder, the Company shall, within three (3) Trading Business Days after such Buyerthe Holder’s request and in such Buyerthe Holder’s sole discretion, either (i) pay cash to such Buyer the Holder in an amount equal to such Buyerthe Holder’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock Shares so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyerthe Holder’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer the Holder a certificate or certificates or credit such Buyerthe Holder’s DTC account representing such number of shares of Common Stock Shares that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Common Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer the Holder by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) closing sale price of the Common Stock on any Trading Day during the period commencing Shares on the date of Business Day immediately preceding the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Exchange and Share Purchase Agreement (Workstream Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer Purchaser by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer Purchaser that is free from all restrictive and other legends or (ii) credit the balance account of such BuyerPurchaser’s or such BuyerPurchaser’s nominee with DTC for such number of Conversion Shares or Warrant Underlying Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) Purchaser purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number Purchaser of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so Purchaser anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such BuyerPurchaser, the Company shall, within three (3) Trading Days after such BuyerPurchaser’s request and in such BuyerPurchaser’s sole discretion, either (i) pay cash to such Buyer Purchaser in an amount equal to such BuyerPurchaser’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such BuyerPurchaser’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer Purchaser a certificate or certificates or credit such BuyerPurchaser’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer Purchaser in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Underlying Shares (as the case may be) that the Company was required to deliver to such Buyer Purchaser by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Ads in Motion, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) following registration on a Registration Statement, credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares Securities so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 12% of the product of (A) the number of shares of Common Stock not so delivered or credited Stated Value (as defined in the case may beCertificate of Designations, Preferences and Rights of Series B Preferred Stock) or Exercise Price (as defined in the applicable Warrant) attributable to the Securities that the issuance or credit of such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Datewas not timely effected. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Underlying Series B Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Neurotrope, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) following registration on a Registration Statement, credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares Securities so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) Underlying Common Stock that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) closing bid price of the Common Stock on any the Eligible Market on which the Common Stock principally trades on the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Atrinsic, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such BuyerB▇▇▇▇’s or such BuyerB▇▇▇▇’s nominee with DTC for such number of Conversion Shares or Warrant Shares Securities so delivered to the CompanyCompany by the Required Delivery Date, then, in addition to all other remedies available to such Buyer, at the sole discretion of such Buyer, the Company shall shall: (i) pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates ; or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and (ii) if on or after the Required Delivery Date Date, such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock (the “Replacement Shares”) equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three one (31) Trading Days Day after such Buyer’s request and in such Buyer’s sole discretion, either (iA) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock Replacement Shares so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (iiB) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A1) such number of shares of Conversion Shares or Warrant Shares (as the case may be) Common Stock that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B2) the lowest Closing Sale Price (as defined in the Series O WarrantsConvertible Notes) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Replacement Shares (as the case may be) and ending on the date of such delivery and payment under this clause (iiB).

Appears in 1 contract

Sources: Securities Purchase Agreement (Nuburu, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer Lender by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer Lender that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s Lender or such Buyer’s its nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery DateLender, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) Lender purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number Lender of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so Lender anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such BuyerLender, the Company shall, within three (3) Trading Days after such BuyerLender’s request and in such BuyerLender’s sole discretion, either (i) pay cash to such Buyer Lender in an amount equal to such BuyerLender’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such BuyerLender’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer Lender a certificate or certificates or credit such BuyerLender’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer Lender in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer Lender by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) closing sale price of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Subordination Agreement (Digital Domain Media Group, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to use its best efforts to (i) issue and deliver (or cause to be delivered) to a Buyer the Holder by the Required Delivery Date a certificate representing the Securities required to be so delivered by the Company to the Company by such Buyer Holder that is free from all restrictive and other legends or (ii) credit the balance account of such Buyerthe Holder’s or such Buyerthe Holder’s nominee with DTC for such number of Conversion Shares or Warrant Shares required to be so delivered to by the Company, then, in addition to all other remedies available to such Buyerthe Holder, the Company shall pay in cash to such Buyer the Holder on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price original principal amount of the Common Stock on the Trading Day immediately preceding the Required Delivery DateNote. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyerthe Holder’s or such Buyerthe Holder’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) the Holder purchases (in an open market transaction or otherwise) shares of Common Stock Shares to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares Holder of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of Shares that the number of shares of Common Stock, that such Buyer so Holder anticipated receiving from the Company without any restrictive legendlegend (a “Buy-In”), then, in addition to all other remedies available to such Buyer, then the Company shall, within three (3) Trading Days after such Buyerthe Holder’s request and in such Buyerthe Holder’s sole discretion, either (i) pay cash to such Buyer the Holder in an amount equal to such Buyerthe Holder’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock Shares so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyerthe Holder’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer the Holder a certificate or certificates or credit such Buyerthe Holder’s DTC account representing such number of shares of Common Stock Shares that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer the Holder by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in average of the Series O Warrants) VWAP of the Common Stock on any Shares for the five (5) Trading Day during period immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Exchange Agreement (Workstream Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver credit (or cause to be deliveredcredited) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares Securities so delivered to the Company, then, in addition to all other remedies available to such Buyer, at the sole discretion of Buyer, the Company shall shall: (i) pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and ; or (ii) if on or after the Required Delivery Date such Date, Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock (“Replacement Shares”) to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three one (31) Trading Days Day after such Buyer’s request and in such Buyer’s sole discretion, either (ix) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) Replacement Shares (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, cancelled or (iiB) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A1) such number of shares of Conversion Shares or Warrant Shares (as the case may be) Common Stock that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B2) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion purchased Replacement Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Securities Purchase Agreement (Mullen Automotive Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion shares of Common Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 12% of the product of (A) the sum of the number of shares of Common Stock not so delivered Shares or credited Warrant Shares (as the case may be) not issued to such Buyer or on a timely basis and to which such Buyer’s nominee multiplied by Buyer is entitled and (B) the Closing Sale Price (as defined in the Warrants) of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Common Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Reeds Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, Stock that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of Trading Day immediately preceding the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) Required Delivery Date and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Securities Purchase Agreement (Worlds Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion shares of Common Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the sum of the number of shares of Common Stock not so delivered Shares or credited Warrant Shares (as the case may be) not issued to such Buyer or on a timely basis and to which such Buyer’s nominee multiplied by Buyer is entitled and (B) the Closing Sale Price (as defined below) of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legendlegend (a “Buy-In”), then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Common Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Royale Energy Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer Purchaser by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer Purchaser that is free from all restrictive and other legends or (ii) credit the balance account of such BuyerPurchaser’s or such BuyerPurchaser’s nominee with DTC for such number of Conversion Shares or Warrant Underlying Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) Purchaser purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number Purchaser of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so Purchaser anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such BuyerPurchaser, the Company shall, within three (3) Trading Days after such BuyerPurchaser’s request and in such BuyerPurchaser’s sole discretion, either (i) pay cash to such Buyer Purchaser in an amount equal to such BuyerPurchaser’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the Buy-In PricePrice ”), at which point the Company’s obligation to so deliver such certificate or credit such BuyerPurchaser’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer Purchaser a certificate or certificates or credit such BuyerPurchaser’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer Purchaser in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Underlying Shares (as the case may be) that the Company was required to deliver to such Buyer Purchaser by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Ads in Motion, Inc.)

Failure to Timely Deliver; Buy-In. If the Company SPAC fails to (i) to, for any reason or for no reason, issue and deliver (or cause to be delivered) to a Buyer Subscriber (or its designee) by the Required Delivery Date Date, either if the Transfer Agent is not participating in FAST, a certificate representing for the number of Exchange Securities so delivered to which Subscriber is entitled and register such Exchange Securities on the Company by such Buyer that SPAC’s share register or, if the Transfer Agent is free from all restrictive and other legends or (ii) participating in FAST, to credit the balance account of such BuyerSubscriber or Subscriber’s or such Buyer’s nominee designee with DTC for such number of Conversion Shares or Warrant Shares so delivered Exchange Securities to the Companywhich Subscriber is entitled (a “Delivery Failure”), then, in addition to all other remedies available to such BuyerSubscriber, the Company SPAC shall pay in cash to such Buyer Subscriber on each Trading Day day after the Required Share Delivery Date that the issuance or credit of and during such shares is not timely effected Delivery Failure an amount equal to 12% of the product of (A) the sum of the number of shares of SPAC Common Stock not so delivered issued to Subscriber on or credited (as prior to the case may be) Required Delivery Date and to such Buyer or such Buyer’s nominee multiplied by which Subscriber is entitled, and (B) the Closing Sale Price any trading price of the SPAC Common Stock selected by Subscriber in writing as in effect at any time during the period beginning on the Trading Day immediately preceding Required Delivery Date and ending on the Required applicable Share Delivery Date. In addition to the foregoing, if on or prior to the Company fails Required Delivery Date, if the Transfer Agent is not participating in FAST, the SPAC shall fail to so properly issue and deliver a certificate to Subscriber and register such unlegended certificates or so properly shares of SPAC Common Stock on the SPAC’s share register or, if the Transfer Agent is participating in FAST, credit the balance account of such BuyerSubscriber or Subscriber’s or such Buyer’s nominee designee with DTC by for the Required Delivery Datenumber of shares of Exchange Securities to which Subscriber is entitled, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) Trading Day Subscriber purchases (in an open market transaction or otherwise) shares of SPAC Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion Subscriber of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal Exchange Securities to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving which Subscriber is entitled to receive from the Company without any restrictive legendSPAC (a “Buy-In”), then, in addition to all other remedies available to such Buyer, then the Company SPAC shall, within three two (32) Trading Days after such BuyerSubscriber’s request and in such BuyerSubscriber’s sole discretion, either (i) pay cash to such Buyer Subscriber in an amount equal to such BuyerSubscriber’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) , for the shares of SPAC Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if anypurchased) (the “Buy-In Price”), at which point the CompanySPAC’s obligation to so deliver such certificate or credit such BuyerSubscriber’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer Subscriber a certificate or certificates or credit such Buyerthe balance account of Subscriber or Subscriber’s designee with DTC account representing such number of shares of SPAC Common Stock that would have been so delivered if the Company SPAC timely complied with its obligations hereunder and pay cash to such Buyer Subscriber in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) Exchange Securities that the Company SPAC was required to deliver to such Buyer Subscriber by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O WarrantsNotes) of the SPAC Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) Required Delivery Date and ending on the date of such delivery and payment under this clause (ii). Nothing shall limit Subscriber’s right to pursue any other remedies available to it hereunder, at law or in equity, including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s or SPAC’s, as applicable, failure to timely deliver certificates representing shares of SPAC Common Stock (or to electronically deliver such shares of SPAC Common Stock) as required pursuant to the terms hereof. Notwithstanding anything herein to the contrary, with respect to any given Delivery Failure, this Section 6(e) shall not apply to Subscriber to the extent the SPAC has already paid such amounts in full to Subscriber with respect to such Delivery Failure, as applicable, pursuant to the analogous sections of the Note held by Subscriber.

Appears in 1 contract

Sources: Subscription Agreement (GigCapital5, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails fails, for any reason or for no reason, to (i) issue and deliver (or cause to be delivered) to a Buyer (or its designee) by the Required Delivery Date Date, if the Transfer Agent is not participating in FAST, a certificate representing for the Securities so delivered number of Conversion Shares to the Company by which such Buyer that is free from all restrictive entitled and other legends or (ii) register such Conversion Shares on the Company’s share register or, if the Transfer Agent is participating in FAST, to credit the balance account of such Buyer’s Buyer or such Buyer’s nominee designee with DTC for such number of Conversion Shares or Warrant Shares so delivered submitted for legend removal by such Buyer pursuant to the CompanySection 5(d) above (a “Delivery Failure”), then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Share Delivery Date that the issuance or credit of and during such shares is not timely effected Delivery Failure an amount equal to 1% two percent (2%) of the product of (A) the sum of the number of shares of Common Stock not so delivered or credited (as the case may be) issued to such Buyer on or prior to the Required Delivery Date and to which such Buyer’s nominee multiplied by Buyer is entitled, and (B) the Closing Sale Price any trading price of the Common Stock selected by such Buyer in writing as in effect at any time during the period beginning on the Trading Day immediately preceding date of the Required delivery by such Buyer to the Company of the applicable Conversion Shares and ending on the applicable Share Delivery Date. In addition to the foregoing, if on or prior to the Required Delivery Date if the Transfer Agent is not participating in FAST, the Company fails shall fail to so properly issue and deliver a certificate to a Buyer and register such unlegended certificates or so properly shares of Common Stock on the Company’s share register or, if the Transfer Agent is participating in FAST, credit the balance account of such Buyer’s Buyer or such Buyer’s nominee designee with DTC for the number of shares of Common Stock to which such Buyer submitted for legend removal by the Required Delivery Datesuch Buyer pursuant to Section 5(d) above (ii) below, and if on or after the Required Delivery Date such Trading Day such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal submitted for legend removal by such Buyer pursuant to all or any portion of the number of shares of Common Stock, Section 5(d) above that such Buyer so anticipated receiving is entitled to receive from the Company without any restrictive legend(a “Buy-In”), then, in addition to all other remedies available to such Buyer, then the Company shall, within three two (32) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) , for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if anypurchased) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit the balance account of such Buyer or such Buyer’s designee with DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii). Nothing shall limit such B▇▇▇▇’s right to pursue any other remedies available to it hereunder, at law or in equity, including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver certificates representing shares of Common Stock (or to electronically deliver such shares of Common Stock) as required pursuant to the terms hereof. Notwithstanding anything herein to the contrary, with respect to any given Delivery Failure, this Section 5(e) shall not apply to the applicable Buyer the extent the Company has already paid such amounts in full to such Buyer with respect to such Delivery Failure pursuant to the analogous sections of the Note held by such Buyer.

Appears in 1 contract

Sources: Securities Purchase Agreement (Chromocell Therapeutics Corp)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares Securities so delivered to the CompanyCompany by the Required Delivery Date, then, in addition to all other remedies available to such Buyer, at the sole discretion of such Buyer, the Company shall shall: (i) pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates ; or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and (ii) if on or after the Required Delivery Date Date, such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock (the “Replacement Shares”) equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three one (31) Trading Days Day after such Buyer’s request and in such Buyer’s sole discretion, either (iA) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock Replacement Shares so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (iiB) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A1) such number of shares of Conversion Shares or Warrant Shares (as the case may be) Common Stock that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B2) the lowest Closing Sale Price (as defined in the Series O WarrantsExchange Notes) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Replacement Shares (as the case may be) and ending on the date of such delivery and payment under this clause (iiB).

Appears in 1 contract

Sources: Exchange Agreement (Nuburu, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails fails, for any reason or for no reason, to (i) issue and deliver (or cause to be delivered) to a Buyer the Holder (or its designee) by the Required Delivery Date Date, if the Transfer Agent is not participating in FAST, a certificate representing for the Securities so delivered number of New Conversion Shares to which the Company by Holder is entitled and register such Buyer that New Conversion Shares on the Company’s share register or, if the Transfer Agent is free from all restrictive and other legends or (ii) participating in FAST, to credit the balance account of such Buyerthe Holder or the Holder’s or such Buyer’s nominee designee with DTC for such number of New Conversion Shares or Warrant Shares so delivered submitted for legend removal by the Holder pursuant to the CompanySection 21(d) above (a “Delivery Failure”), then, in addition to all other remedies available to such Buyerthe Holder, the Company shall pay in cash to such Buyer the Holder on each Trading Day day after the Required Share Delivery Date that the issuance or credit of and during such shares is not timely effected Delivery Failure an amount equal to 1% of the product of (A) the sum of the number of shares of Common Stock Ordinary Shares not so delivered issued to the Holder on or credited (as prior to the case may be) Required Delivery Date and to such Buyer or such Buyer’s nominee multiplied by which the Holder is entitled, and (B) the Closing Sale Price any trading price of the Common Stock Ordinary Shares selected by the Holder in writing as in effect at any time during the period beginning on the Trading Day immediately preceding date of the Required delivery by the Holder to the Company of the applicable New Conversion Shares and ending on the applicable Share Delivery Date. In addition to the foregoing, if on or prior to the Required Delivery Date if the Transfer Agent is not participating in FAST, the Company fails shall fail to so properly issue and deliver a certificate to the Holder and register such unlegended certificates or so properly Ordinary Shares on the Company’s share register or, if the Transfer Agent is participating in FAST, credit the balance account of such Buyerthe Holder or the Holder’s or such Buyer’s nominee designee with DTC for the number of Ordinary Shares to which the Holder submitted for legend removal by the Required Delivery DateHolder pursuant to Section 21(d) above, and if on or after such Trading Day the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases Holder acquires (in an open market transaction transaction, stock loan or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal Ordinary Shares corresponding to all or any portion of the number of shares of Common Stock, Ordinary Shares issuable upon such exercise that such Buyer so anticipated receiving the Holder is entitled to receive from the Company without any restrictive legendand has not received from the Company in connection with such Delivery Failure (a “Buy-In”), then, in addition to all other remedies available to such Buyer, then the Company shall, within three one (31) Trading Days Day after such Buyerthe Holder’s request and in such Buyerthe Holder’s sole discretion, either (i) pay cash to such Buyer the Holder in an amount equal to such Buyerthe Holder’s total purchase price (including brokerage commissions commissions, stock loan costs and other out-of-pocket expenses, if any) , for the shares of Common Stock Ordinary Shares so purchased (including brokerage commissions and other out-of-pocket expenses, if anyacquired) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyerthe Holder’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer the Holder a certificate or certificates or credit such Buyerthe balance account of the Holder or the Holder’s designee with DTC account representing such number of shares of Common Stock Ordinary Shares that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of New Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer the Holder by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O WarrantsMemorandum and Articles of Association) of the Common Stock Ordinary Shares on any Trading Day during the period commencing on the date of the delivery by such Buyer the Holder to the Company of the applicable New Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii). Nothing shall limit the Holder’s right to pursue any other remedies available to it hereunder, at law or in equity, including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver certificates representing Ordinary Shares (or to electronically deliver such Ordinary Shares) as required pursuant to the terms hereof. Notwithstanding anything herein to the contrary, with respect to any given Delivery Failure, this Section 21(e) shall not apply to the applicable Holder the extent the Company has already paid such amounts in full to the Holder with respect to such Delivery Failure pursuant to the analogous sections of the Memorandum and Articles of Association.

Appears in 1 contract

Sources: Amendment and Exchange Agreement (Freight Technologies, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares Securities so delivered to the CompanyCompany by the Required Delivery Date, then, in addition to all other remedies available to such Buyer, at the sole discretion of such Buyer, the Company shall shall: (i) pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and ; or (ii) if on or after the Required Delivery Date Date, such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock (the “Replacement Shares”) equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three one (31) Trading Days Day after such Buyer▇▇▇▇▇’s request and in such Buyer’s sole discretion, either either (iA) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock Replacement Shares so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (iiB) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A1) such number of shares of Conversion Shares or Warrant Shares (as the case may be) Common Stock that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B2) the lowest Closing Sale Price (as defined in the Series O WarrantsConvertible Notes) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Replacement Shares (as the case may be) and ending on the date of such delivery and payment under this clause (iiB).

Appears in 1 contract

Sources: Securities Purchase Agreement (Nuburu, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to use its best efforts to (i) issue and deliver (or cause to be delivered) to a Buyer the Lender by the Required Delivery Date a certificate representing the Securities Warrant Shares so delivered to the Company by such Buyer the Lender that is free from all restrictive and other legends or (ii) credit the balance account of such Buyerthe Lender’s or such Buyerthe Lender’s nominee with DTC for such number of Conversion Shares or shares of Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyerthe Lender, but subject to the Limitation on Damages (as defined in the Warrant), the Company shall pay in cash to such Buyer the Lender on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 13% of the product of (A) the sum of the number of shares of Common Stock Warrant Shares not so delivered or credited (as issued to the case may be) Lender on a timely basis and to such Buyer or such Buyer’s nominee multiplied by which the Lender is entitled and (B) the Closing Sale Price (as defined in the Warrant) of the Common Stock Shares on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyerthe Lender’s or such Buyerthe Lender’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) the Lender purchases (in an open market transaction or otherwise) shares of Common Stock Shares to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares Lender of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of Shares that the number of shares of Common Stock, that such Buyer so Lender anticipated receiving from the Company without any restrictive legendlegend (a “Buy-In”), then, in addition to all other remedies available to such Buyer, then the Company shall, within three (3) Trading Days after such Buyerthe Lender’s request and in such Buyerthe Lender’s sole discretion, either (i) pay cash to such Buyer the Lender in an amount equal to such Buyerthe Lender’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock Shares so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer the Lender a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock Shares that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer the Lender in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer the Lender by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing Shares on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Transaction Agreement (Workstream Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the second (2nd) Trading Day following the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion shares of Common Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the sum of the number of shares of Common Stock not so delivered Shares or credited Warrant Shares (as the case may be) not issued to such Buyer or on a timely basis and to which such Buyer’s nominee multiplied by Buyer is entitled and (B) the Closing Sale Price (as defined in the Warrants) of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Common Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (China Armco Metals, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends in accordance with Section 5(d) above, or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of shares of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 12% of the product original principal amount of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery DateNote. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legendlegend (a “Buy-In”), then, in addition to all other remedies available to such Buyer, then the Company shall, within three two (32) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) average VWAP of the Common Stock on any for the five (5) Trading Day during period immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Freedom Leaf Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of shares of Conversion Shares, Interest Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares, Interest Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Kandi Technologies Corp)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer Purchaser by the Required Delivery Date a certificate representing the Securities Shares so delivered to the Company by such Buyer Purchaser that is free from all restrictive and other legends or (ii) credit the balance account of such BuyerPurchaser’s or such BuyerPurchaser’s nominee with DTC for such number of Conversion Shares or Warrant such Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer Purchaser (or any other Person in respect, or on behalf, of such BuyerPurchaser) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer Purchaser of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer Purchaser so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such BuyerPurchaser, the Company shall, within three (3) Trading Days after such BuyerPurchaser’s request and in such BuyerPurchaser’s sole discretion, either (i) pay cash to such Buyer Purchaser in an amount equal to such BuyerPurchaser’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such BuyerPurchaser’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer Purchaser a certificate or certificates or credit such BuyerPurchaser’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer Purchaser in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares Common Stock (as the case may be) that the Company was required to deliver to such Buyer Purchaser by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O Warrants) closing sale price of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer Purchaser to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) shares of Common Stock and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Securities Purchase Agreement (OptimizeRx Corp)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, Stock that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Securities Purchase Agreement (Ascent Solar Technologies, Inc.)

Failure to Timely Deliver; Buy-In. If the Company improperly fails to (i) issue and deliver dispatch for delivery (or cause to be deliveredso dispatched) to a Buyer Purchaser by the Required Delivery Date a certificate representing the Securities Shares so delivered to the Company by such Buyer Purchaser that is free from all restrictive and other legends or (ii) credit the balance account of such BuyerPurchaser’s or such BuyerPurchaser’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the business day immediately following the Required Delivery Date such Buyer Purchaser (or any other Person in respect, or on behalf, of such BuyerPurchaser) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer Purchaser of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer Purchaser so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such BuyerPurchaser, the Company shall, within three five (35) Trading Business Days after such BuyerPurchaser’s request and in such BuyerPurchaser’s sole discretion, either (ix) pay cash to such Buyer Purchaser in an amount equal to such BuyerPurchaser’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such BuyerPurchaser’s balance account shall terminate and such shares shall be cancelled, or (iiy) promptly honor its obligation to so deliver to such Buyer Purchaser a certificate or certificates or credit such BuyerPurchaser’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer Purchaser in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer Purchaser by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O Warrants) closing sale price of the Common Stock on any Trading Business Day during the period commencing on the date of the delivery by such Buyer Purchaser to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (iiy).

Appears in 1 contract

Sources: Stock Purchase Agreement (Aqua Metals, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such BuyerPurchaser’s or such BuyerPurchaser’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) a Purchaser purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number Purchaser of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so Purchaser anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such BuyerPurchaser, the Company shall, within three (3) five Trading Days after the Required Delivery Date, promptly honor its obligation to deliver to such BuyerPurchaser a certificate or certificates or credit such Purchaser’s request DTC account representing such number of shares of Common Stock that would have been issued if the Company timely complied with its obligations hereunder and in such Buyer’s sole discretion, either (i) pay cash to such Buyer Purchaser in an amount equal to the excess (if any) of the Buy-In Price (as defined below) over the product of (A) such number of shares of Common Stock that the Company was required to deliver to such Purchaser by the Required Delivery Date times (B) the closing price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. If within five Trading Days following the Required Delivery Date, the Company fails to deliver to such Purchaser a certificate or certificates or credit such Purchaser’s DTC account representing such number of shares of Common Stock that would have been issued if the Company timely complied with its obligations hereunder, the Company shall pay cash to such Purchaser in an amount equal to such BuyerPurchaser’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such BuyerPurchaser’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Securities Purchase Agreement (Blue Calypso, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares Securities so delivered to the Company, then, in addition to all other remedies available to such Buyer, at the sole discretion of Buyer, the Company shall shall: (i) pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 12% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and ; or (ii) if on or after the Required Delivery Date such Date, Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three five (35) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (iA) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (iiB) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A1) such number of shares of Conversion Shares or Warrant Shares (as the case may be) Common Stock that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B2) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (iiB).

Appears in 1 contract

Sources: Securities Purchase Agreement (Tanzanian Royalty Exploration Corp)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such BuyerB▇▇▇▇’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares Securities so delivered to the CompanyCompany by the Required Delivery Date, then, in addition to all other remedies available to such Buyer, at the sole discretion of Buyer, the Company shall shall: (i) pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and ; or (ii) if on or after the Required Delivery Date such Date, Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock (the “Replacement Shares”) equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three one (31) Trading Days Day after such Buyer’s request and in such Buyer’s sole discretion, either (iA) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock Replacement Shares so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (iiB) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A1) such number of shares of Conversion Shares or Warrant Shares (as the case may be) Common Stock that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B2) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Replacement Shares (as the case may be) and ending on the date of such delivery and payment under this clause (iiB).

Appears in 1 contract

Sources: Securities Purchase Agreement (Mullen Automotive Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver credit (or cause to be deliveredcredited) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares Securities so required to be delivered to by the Company, then, in addition to all other remedies available to such Buyer, at the sole discretion of Buyer, the Company shall shall: (i) pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the shares of Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and ; or (ii) if on or after the Required Delivery Date such Date, Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock (“Replacement Shares”) to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three five (35) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (ix) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) Replacement Shares (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such BuyerB▇▇▇▇’s balance account shall terminate and such shares shall be cancelled, cancelled or (iiB) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A1) such number of shares of Conversion Shares or Warrant Shares (as the case may be) Common Stock that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B2) the lowest Closing Sale Price (as defined in the Series O Warrants) of the shares of Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion purchased Replacement Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Securities Purchase Agreement (Ideanomics, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares Securities so delivered to the Company, then, in addition to all other remedies available to such Buyer, at the sole discretion of Buyer, the Company shall shall: (i) pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and ; or (ii) if on or after the Required Delivery Date such Date, Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock (“Replacement Shares”) to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three five (35) Trading Days after such Buyer’s request and in such Buyer’s sole ​ ​ discretion, either (ix) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) Replacement Shares (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, cancelled or (iiB) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A1) such number of shares of Conversion Shares or Warrant Shares (as the case may be) Common Stock that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B2) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion purchased Replacement Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Securities Purchase Agreement (Mullen Automotive Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion shares of Common Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 12% of the product of (A) the sum of the number of shares of Common Stock not so delivered Shares or credited Warrant Shares (as the case may be) not issued to such Buyer or on a timely basis and to which such Buyer’s nominee multiplied by Buyer is entitled and (B) the Closing Sale Price (as defined in the Warrants) of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Companyto deliver to such Buyer by the Required Delivery Date times (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery ▇▇▇▇.▇▇▇▇▇▇▇’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Common Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)required.

Appears in 1 contract

Sources: Securities Purchase Agreement (Bovie Medical Corp)

Failure to Timely Deliver; Buy-In. If the Company fails fails, for any reason or for no reason, to (i) issue and deliver (or cause to be delivered) to a Buyer the Holder (or its designee) by the Required Delivery Date Date, if the Transfer Agent is not participating in FAST, a certificate representing for the Securities so delivered number of New Conversion Shares to which the Company by Holder is entitled and register such Buyer that New Conversion Shares on the Company’s share register or, if the Transfer Agent is free from all restrictive and other legends or (ii) participating in FAST, to credit the balance account of such Buyerthe Holder or the Holder’s or such Buyer’s nominee designee with DTC for such number of New Conversion Shares or Warrant Shares so delivered submitted for legend removal by the Holder pursuant to the CompanySection 22(d) above (a “Delivery Failure”), then, in addition to all other remedies available to such Buyerthe Holder, the Company shall pay in cash to such Buyer the Holder on each Trading Day day after the Required Share Delivery Date that the issuance or credit of and during such shares is not timely effected Delivery Failure an amount equal to 12% of the product of (A) the sum of the number of shares of Common Stock not so delivered issued to the Holder on or credited (as prior to the case may be) Required Delivery Date and to such Buyer or such Buyer’s nominee multiplied by which the Holder is entitled, and (B) the Closing Sale Price any trading price of the Common Stock selected by the Holder in writing as in effect at any time during the period beginning on the Trading Day immediately preceding date of the Required delivery by the Holder to the Company of the applicable New Conversion Shares and ending on the applicable Share Delivery Date. In addition to the foregoing, if on or prior to the Required Delivery Date if the Transfer Agent is not participating in FAST, the Company fails shall fail to so properly issue and deliver a certificate to the Holder and register such unlegended certificates or so properly shares of Common Stock on the Company’s share register or, if the Transfer Agent is participating in FAST, credit the balance account of such Buyerthe Holder or the Holder’s or such Buyer’s nominee designee with DTC for the number of shares of Common Stock to which the Holder submitted for legend removal by the Required Delivery DateHolder pursuant to Section 22(d) above, and if on or after such Trading Day the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases Holder acquires (in an open market transaction transaction, stock loan or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal corresponding to all or any portion of the number of shares of Common Stock, Stock issuable upon such exercise that such Buyer so anticipated receiving the Holder is entitled to receive from the Company without any restrictive legendand has not received from the Company in connection with such Delivery Failure (a “Buy-In”), then, in addition to all other remedies available to such Buyer, then the Company shall, within three one (31) Trading Days Day after such Buyerthe Holder’s request and in such Buyerthe Holder’s sole discretion, either (i) pay cash to such Buyer the Holder in an amount equal to such Buyerthe Holder’s total purchase price (including brokerage commissions commissions, stock loan costs and other out-of-pocket expenses, if any) , for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if anyacquired) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyerthe Holder’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer the Holder a certificate or certificates or credit such Buyerthe balance account of the Holder or the Holder’s designee with DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of New Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer the Holder by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O WarrantsNew Certificate of Designations) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer the Holder to the Company of the applicable New Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii). Nothing shall limit the Holder’s right to pursue any other remedies available to it hereunder, at law or in equity, including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver certificates representing shares of Common Stock (or to electronically deliver such shares of Common Stock) as required pursuant to the terms hereof. Notwithstanding anything herein to the contrary, with respect to any given Delivery Failure, this Section 22(e) shall not apply to the applicable Holder the extent the Company has already paid such amounts in full to the Holder with respect to such Delivery Failure pursuant to the analogous sections of the New Certificate of Designations.

Appears in 1 contract

Sources: Amendment and Exchange Agreement (TruGolf Holdings, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, Stock that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Securities Purchase Agreement (Ascent Solar Technologies, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by within two (2) Trading Days following the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of shares of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each day after the second (2nd) Trading Day after following the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 12% of the product original principal amount of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery DateNote. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Nacel Energy Corp)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares, Interest Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of Trading Day immediately preceding the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) Required Delivery Date and ending on the date of such delivery issuance and payment under this clause (ii).

Appears in 1 contract

Sources: Securities Purchase Agreement (Atp Oil & Gas Corp)

Failure to Timely Deliver; Buy-In. If After the Company is an issuer subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, if the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Business Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 12% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day trading day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three five (35) Trading Business Days after such Buyer’s request and in such Buyer’s sole discretion, either (i1) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii2) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (Aa) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (Bb) the lowest Closing Sale Price (as defined in the Series O Warrants) closing sale price of the Common Stock on any Trading Business Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii2).

Appears in 1 contract

Sources: Securities Purchase Agreement (Resonant Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion shares of Common Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the sum of the number of shares of Common Stock not so delivered Shares or credited Warrant Shares (as the case may be) not issued to such Buyer or on a timely basis and to which such Buyer’s nominee multiplied by Buyer is entitled and (B) the Closing Sale Price VWAP (as defined below) of the shares of Common Stock on for the five (5) Trading Day period immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legendlegend (a “Buy-In”), then, in addition to all other remedies available to such Buyer, then the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Common Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) average VWAP of the Common Stock on any for the five (5) Trading Day during period immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Royale Energy Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price (as defined in the Warrants) of the Common Stock on the Trading Day (as defined in the Warrants) immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares, Dividend Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (BII) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Securities Purchase Agreement (WPCS International Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion shares of Common Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 12% of the product of (A) the sum of the number of shares of Common Stock not so delivered Shares or credited Warrant Shares (as the case may be) not issued to such Buyer or on a timely basis and to which such Buyer’s nominee multiplied by Buyer is entitled and (B) the Closing Sale Price VWAP (as defined below) of the shares of Common Stock on for the five (5) Trading Day period immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legendlegend (a “Buy-In”), then, in addition to all other remedies available to such Buyer, then the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Common Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) average VWAP of the Common Stock on any for the five (5) Trading Day during period immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Freedom Leaf Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Common Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Common Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Common Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Securities Purchase Agreement (Arch Therapeutics, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 11.5% of the product of (A) the aggregate number of shares of Common Stock Conversion Shares not so delivered or credited (as the case may be) issued to such Buyer or on a timely basis and to which such Buyer’s nominee multiplied by Buyer is entitled and (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Datelast possible date on which the Company could have issued such Conversion Shares to the Holder without violating Section 5(d). In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O WarrantsCertificate of Designations) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Securities Purchase Agreement (Genius Brands International, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) use its best efforts to issue and deliver (or cause to be delivered) to a Buyer by the Holder within two (2) Business Days following the Required Delivery Date a certificate representing the Securities Holder Exchanged Shares required to be so delivered by the Company to the Company by such Buyer Holder that is free from all restrictive and other legends or (ii) credit the balance account of such Buyerthe Holder’s or such Buyerthe Holder’s nominee with DTC for within two (2) Business Days following the Required Delivery Date with such number of Conversion Common Shares or Warrant Shares required to be so delivered to by the Company, then, in addition to all other remedies available to such Buyerthe Holder, the Company shall pay in cash to such Buyer the Holder on each Trading day after such second (2nd) Business Day after following the Required Delivery Date that the such issuance or credit of such shares is not timely effected an amount equal to 10.5% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price aggregate principal amount of the Common Stock on the Trading Day immediately preceding the Required Delivery DateNotes exchanged hereunder. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyerthe Holder’s or such Buyerthe Holder’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) the Holder purchases (in an open market transaction or otherwise) shares of Common Stock Shares to deliver in satisfaction of a sale by such Buyer the Holder of all or any portion of Holder Exchanged Shares that the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so Holder anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyerthe Holder, the Company shall, within three (3) Trading Business Days after such Buyerthe Holder’s request and in such Buyerthe Holder’s sole discretion, either (i) pay cash to such Buyer the Holder in an amount equal to such Buyerthe Holder’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock Shares so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyerthe Holder’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer the Holder a certificate or certificates or credit such Buyerthe Holder’s DTC account representing such number of shares of Common Stock Shares that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Common Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer the Holder by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) closing sale price of the Common Stock on any Trading Day during the period commencing Shares on the date of Business Day immediately preceding the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Exchange Agreement (Magnetar Financial LLC)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of shares of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product original principal amount of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery DateNote. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expensescommissions, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered issued if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by times (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any the Trading Day during immediately preceding the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii)Required Delivery Date.

Appears in 1 contract

Sources: Securities Purchase Agreement (Magnum dOr Resources Inc)

Failure to Timely Deliver; Buy-In. If the Company fails fails, for any reason or for no reason, to (i) issue and deliver (or cause to be delivered) to a Buyer the Holder (or its designee) by the Required Delivery Date Date, if the Transfer Agent is not participating in FAST, a certificate representing for the Securities so delivered number of New Conversion Shares to which the Company by Holder is entitled and register such Buyer that New Conversion Shares on the Company’s share register or, if the Transfer Agent is free from all restrictive and other legends or (ii) participating in FAST, to credit the balance account of such Buyerthe Holder or the Holder’s or such Buyer’s nominee designee with DTC for such number of New Conversion Shares or Warrant Shares so delivered submitted for legend removal by the Holder pursuant to the CompanySection 21(d) above (a “Delivery Failure”), then, in addition to all other remedies available to such Buyerthe Holder, the Company shall pay in cash to such Buyer the Holder on each Trading Day day after the Required Share Delivery Date that the issuance or credit of and during such shares is not timely effected Delivery Failure an amount equal to 12% of the product of (A) the sum of the number of shares of Common Stock not so delivered issued to the Holder on or credited (as prior to the case may be) Required Delivery Date and to such Buyer or such Buyer’s nominee multiplied by which the Holder is entitled, and (B) the Closing Sale Price any trading price of the Common Stock selected by the Holder in writing as in effect at any time during the period beginning on the Trading Day immediately preceding date of the Required delivery by the Holder to the Company of the applicable New Conversion Shares and ending on the applicable Share Delivery Date. In addition to the foregoing, if on or prior to the Required Delivery Date if the Transfer Agent is not participating in FAST, the Company fails shall fail to so properly issue and deliver a certificate to the Holder and register such unlegended certificates or so properly shares of Common Stock on the Company’s share register or, if the Transfer Agent is participating in FAST, credit the balance account of such Buyerthe Holder or the Holder’s or such Buyer’s nominee designee with DTC for the number of shares of Common Stock to which the Holder submitted for legend removal by the Required Delivery DateHolder pursuant to Section 21(d) above, and if on or after such Trading Day the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases Holder acquires (in an open market transaction transaction, stock loan or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal corresponding to all or any portion of the number of shares of Common Stock, Stock issuable upon such exercise that such Buyer so anticipated receiving the Holder is entitled to receive from the Company without any restrictive legendand has not received from the Company in connection with such Delivery Failure (a “Buy-In”), then, in addition to all other remedies available to such Buyer, then the Company shall, within three one (31) Trading Days Day after such Buyerthe Holder’s request and in such Buyerthe Holder’s sole discretion, either (i) pay cash to such Buyer the Holder in an amount equal to such Buyerthe Holder’s total purchase price (including brokerage commissions commissions, stock loan costs and other out-of-pocket expenses, if any) , for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if anyacquired) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyerthe Holder’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer the Holder a certificate or certificates or credit such Buyerthe balance account of the Holder or the Holder’s designee with DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of New Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer the Holder by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O WarrantsNew Certificate of Designation) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer the Holder to the Company of the applicable New Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii). Nothing shall limit the Holder’s right to pursue any other remedies available to it hereunder, at law or in equity, including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver certificates representing shares of Common Stock (or to electronically deliver such shares of Common Stock) as required pursuant to the terms hereof. Notwithstanding anything herein to the contrary, with respect to any given Delivery Failure, this Section 21(e) shall not apply to the applicable Holder the extent the Company has already paid such amounts in full to the Holder with respect to such Delivery Failure pursuant to the analogous sections of the New Certificate of Designation.

Appears in 1 contract

Sources: Amendment and Exchange Agreement (La Rosa Holdings Corp.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three five (35) Trading Days (as defined in the Note) after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Securities Purchase Agreement (American Superconductor Corp /De/)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Common Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price (as defined in the Warrants) of the Common Stock on the Trading Day (as defined in the Warrant) immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three (3) Trading Business Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Securities Purchase Agreement (Lightpath Technologies Inc)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer Holder by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer Holder that is free from all restrictive and other legends or (ii) credit the balance account of such BuyerHolder’s or such BuyerHolder’s nominee with DTC for such number of Conversion Shares or Warrant Shares Securities so delivered to the Company, then, in addition to all other remedies available to such BuyerHolder, at the sole discretion of Holder, the Company shall shall: (i) pay in cash to such Buyer Holder on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer Holder or such BuyerHolder’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and ; or (ii) if on or after the Required Delivery Date such Buyer Date, Holder (or any other Person in respect, or on behalf, of such BuyerHolder) purchases (in an open market transaction or otherwise) shares of Common Stock (“Replacement Shares”) to deliver in satisfaction of a sale by such Buyer Holder of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer Holder so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three five (35) Trading Days after such BuyerHolder’s request and in such BuyerHolder’s sole discretion, either (ix) pay cash to such Buyer Holder in an amount equal to such BuyerHolder’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) Replacement Shares (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such BuyerHolder’s balance account shall terminate and such shares shall be cancelled, cancelled or (iiB) promptly honor its obligation to so deliver to such Buyer Holder a certificate or certificates or credit such BuyerHolder’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A1) such number of shares of Conversion Shares or Warrant Shares (as the case may be) Common Stock that the Company was required to deliver to such Buyer Holder by the Required Delivery Date multiplied by (B2) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Holder purchased Replacement Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Exchange Agreement (Net Element, Inc.)

Failure to Timely Deliver; Buy-In. If the Company fails to (i) issue and deliver (or cause to be delivered) to a Buyer by the Required Delivery Date a certificate representing the Securities so delivered to the Company by such Buyer that is free from all restrictive and other legends or (ii) credit the balance account of such Buyer’s or such Buyer’s nominee with DTC for such number of Conversion Shares or Warrant Shares so delivered to the Company, then, in addition to all other remedies available to such Buyer, the Company shall pay in cash to such Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected an amount equal to 12% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to such Buyer or such Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. In addition to the foregoing, if the Company fails to so properly deliver such unlegended certificates or so properly credit the balance account of such Buyer’s or such Buyer’s nominee with DTC by the Required Delivery Date, and if on or after the Required Delivery Date such Buyer (or any other Person in respect, or on behalf, of such Buyer) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, that such Buyer so anticipated receiving from the Company without any restrictive legend, then, in addition to all other remedies available to such Buyer, the Company shall, within three five (35) Trading Days after such Buyer’s request and in such Buyer’s sole discretion, either (i) pay cash to such Buyer in an amount equal to such Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”), at which point the Company’s obligation to so deliver such certificate or credit such Buyer’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to so deliver to such Buyer a certificate or certificates or credit such Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely complied with its obligations hereunder and pay cash to such Buyer in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Conversion Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Buyer by the Required Delivery Date multiplied by (B) the lowest Closing Sale Price (as defined in the Series O Warrants) of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Buyer to the Company of the applicable Conversion Shares or Warrant Shares (as the case may be) and ending on the date of such delivery and payment under this clause (ii).

Appears in 1 contract

Sources: Securities Purchase Agreement (Aura Systems Inc)