Document ID: 16766

Text:
(c)If: (i) the Initial Registration Statement is not filed with the Commission on or prior to the Filing Deadline, (ii) the Initial Registration Statement or the New Registration Statement, as applicable, is not declared effective by the Commission (or otherwise does not become effective) for any reason on or prior to the Effectiveness Deadline or (iii) after its Effective Date and except for the reasons as set forth in Section 3(h), (A) such Registration Statement ceases for any reason (including, without limitation, by reason of a stop order or the Companys failure to update the Registration Statement), to remain continuously effective as to all Registrable Securities included in such Registration Statement or (B) the Holders are not permitted to utilize the Prospectus therein to resell such Registrable Securities for any reason (other than due to a change in the Plan of Distribution or the inaccuracy of any information regarding the Holders), in each case, for more than an aggregate of 45 calendar days (which need not be consecutive days) during any 12-month period (other than as a result of a material breach of this Agreement by a Holder or a Holders failure to return a Selling Stockholder Questionnaire within the time period provided by Section 2(d) hereof) (any such failure or breach in clauses (i) through (iii) above being referred to as an Event, and, for purposes of clauses (i) or (ii), the date on which such Event occurs, or for purposes of clause (iii), the date on which such 45 calendar day period is exceeded, being referred to as an Event Date), then in addition to any other rights the Holders may have hereunder or under applicable law: (x) within five Business Days after an Event Date relating to a failure in clause (i) only, the Company shall pay to each Holder an amount in cash, as liquidated damages and not as a penalty, equal to 1.0% of the aggregate purchase price paid by such Holder pursuant to the Purchase Agreement for any Registrable Securities held by such Holder on such Event Date; and (y) on each 30-day anniversary (or pro rata portion thereof) following any Event Date (including, for the avoidance of doubt, a failure in clause (i), in which case each 30-day anniversary shall be measured commencing on the 31st day following such Event Date) until the earlier of (1) the applicable Event is cured or (2) the Registrable Securities are eligible for resale pursuant to Rule 144 without manner of sale or volume restrictions, the Company shall pay to each Holder an amount in cash, as liquidated damages and not as a penalty, equal to 1.0% of the aggregate purchase price paid by such Holder pursuant to the Purchase Agreement for any unregistered Registrable Securities then held by such Holder. The amounts payable pursuant to the foregoing clauses (x) and (y) are referred to collectively as Liquidated Damages. The parties agree that (1) notwithstanding anything to the contrary herein or in the Purchase Agreement, no Liquidated Damages shall be payable with respect to any period after the expiration of the Effectiveness Period and in no event shall the aggregate amount of Liquidated Damages payable to a Holder exceed, in the aggregate, 6.0% of the aggregate purchase price paid by such Holder pursuant to the Purchase Agreement and (2) in no event shall the Company be liable in any 30-day period for Liquidated Damages under this Agreement in excess of 1.0% of the aggregate purchase price paid by the Holders pursuant to the Purchase Agreement. If the Company fails to pay any Liquidated Damages pursuant to this Section 2(c) in full within 30 Business Days after the date payable, the Company will pay interest thereon at a rate of 1.0% per month (or such lesser maximum amount that is permitted to be paid by applicable law) to the Holder, accruing daily from the date such Liquidated Damages are due until such amounts, plus all such interest thereon, are paid in full. Unless otherwise specified in Section 2(c), the Liquidated Damages pursuant to the terms hereof shall apply on a daily pro-rata basis for any portion of a month prior to the cure of an Event, except in the case of the first Event Date. Notwithstanding the foregoing, nothing shall preclude any Holder from pursuing or obtaining any available remedies at law, specific performance or other equitable relief with respect to this Section 2(c) in accordance with applicable law. The Company shall not be liable for Liquidated Damages under this Agreement as to any Registrable Securities which may then be resold under Rule 144 or which are not permitted by the Commission to be included in a Registration Statement due solely to SEC Guidance from the time that it is determined that such Registrable Securities are not permitted to be registered until such time as the provisions of this Agreement as to the Remainder Registration Statements required to be filed hereunder are triggered, in which case the provisions of this Section 2(c) shall once again apply, if applicable. In such case, the Liquidated Damages shall be calculated to only apply to the percentage of Registrable Securities which are permitted in accordance with SEC Guidance to be included in such Registration Statement. The Effectiveness Deadline for a Registration Statement shall be extended without default or Liquidated Damages hereunder in the event that the Companys failure to obtain the effectiveness of the Registration Statement on a timely basis results from the failure of a Holder to timely provide the Company with information requested by the Company and necessary to complete the Registration Statement in accordance with the requirements of the Securities Act ( in which the Effectiveness Deadline would be extended with respect to Registrable Securities held by such Holder).

Named Entities:
383
386
Percentage
399
400
Title
494
495
Regulation
637
640
Percentage
711
715
Regulation
920
921
Regulation
1084
1085
Act

Tokenized Text:
(
c
)
If
:
(
i
)
the
Initial
Registration
Statement
is
not
filed
with
the
Commission
on
or
prior
to
the
Filing
Deadline
,
(
ii
)
the
Initial
Registration
Statement
or
the
New
Registration
Statement
,
as
applicable
,
is
not
declared
effective
by
the
Commission
(
or
otherwise
does
not
become
effective
)
for
any
reason
on
or
prior
to
the
Effectiveness
Deadline
or
(
iii
)
after
its
Effective
Date
and
except
for
the
reasons
as
set
forth
in
Section
3
(
h
)
,
(
A
)
such
Registration
Statement
ceases
for
any
reason
(
including
,
without
limitation
,
by
reason
of
a
stop
order
or
the
Companys
failure
to
update
the
Registration
Statement
)
,
to
remain
continuously
effective
as
to
all
Registrable
Securities
included
in
such
Registration
Statement
or
(
B
)
the
Holders
are
not
permitted
to
utilize
the
Prospectus
therein
to
resell
such
Registrable
Securities
for
any
reason
(
other
than
due
to
a
change
in
the
Plan
of
Distribution
or
the
inaccuracy
of
any
information
regarding
the
Holders
)
,
in
each
case
,
for
more
than
an
aggregate
of
45
calendar
days
(
which
need
not
be
consecutive
days
)
during
any
12-month
period
(
other
than
as
a
result
of
a
material
breach
of
this
Agreement
by
a
Holder
or
a
Holders
failure
to
return
a
Selling
Stockholder
Questionnaire
within
the
time
period
provided
by
Section
2
(
d
)
hereof
)
(
any
such
failure
or
breach
in
clauses
(
i
)
through
(
iii
)
above
being
referred
to
as
an
Event
,
and
,
for
purposes
of
clauses
(
i
)
or
(
ii
)
,
the
date
on
which
such
Event
occurs
,
or
for
purposes
of
clause
(
iii
)
,
the
date
on
which
such
45
calendar
day
period
is
exceeded
,
being
referred
to
as
an
Event
Date
)
,
then
in
addition
to
any
other
rights
the
Holders
may
have
hereunder
or
under
applicable
law
:
(
x
)
within
five
Business
Days
after
an
Event
Date
relating
to
a
failure
in
clause
(
i
)
only
,
the
Company
shall
pay
to
each
Holder
an
amount
in
cash
,
as
liquidated
damages
and
not
as
a
penalty
,
equal
to
1
.
0
%
of
the
aggregate
purchase
price
paid
by
such
Holder
pursuant
to
the
Purchase
Agreement
for
any
Registrable
Securities
held
by
such
Holder
on
such
Event
Date
;
and
(
y
)
on
each
30-day
anniversary
(
or
pro
rata
portion
thereof
)
following
any
Event
Date
(
including
,
for
the
avoidance
of
doubt
,
a
failure
in
clause
(
i
)
,
in
which
case
each
30-day
anniversary
shall
be
measured
commencing
on
the
31st
day
following
such
Event
Date
)
until
the
earlier
of
(
1
)
the
applicable
Event
is
cured
or
(
2
)
the
Registrable
Securities
are
eligible
for
resale
pursuant
to
Rule
144
without
manner
of
sale
or
volume
restrictions
,
the
Company
shall
pay
to
each
Holder
an
amount
in
cash
,
as
liquidated
damages
and
not
as
a
penalty
,
equal
to
1
.
0
%
of
the
aggregate
purchase
price
paid
by
such
Holder
pursuant
to
the
Purchase
Agreement
for
any
unregistered
Registrable
Securities
then
held
by
such
Holder
.
The
amounts
payable
pursuant
to
the
foregoing
clauses
(
x
)
and
(
y
)
are
referred
to
collectively
as
Liquidated
Damages
.
The
parties
agree
that
(
1
)
notwithstanding
anything
to
the
contrary
herein
or
in
the
Purchase
Agreement
,
no
Liquidated
Damages
shall
be
payable
with
respect
to
any
period
after
the
expiration
of
the
Effectiveness
Period
and
in
no
event
shall
the
aggregate
amount
of
Liquidated
Damages
payable
to
a
Holder
exceed
,
in
the
aggregate
,
6
.
0
%
of
the
aggregate
purchase
price
paid
by
such
Holder
pursuant
to
the
Purchase
Agreement
and
(
2
)
in
no
event
shall
the
Company
be
liable
in
any
30-day
period
for
Liquidated
Damages
under
this
Agreement
in
excess
of
1
.
0
%
of
the
aggregate
purchase
price
paid
by
the
Holders
pursuant
to
the
Purchase
Agreement
.
If
the
Company
fails
to
pay
any
Liquidated
Damages
pursuant
to
this
Section
2
(
c
)
in
full
within
30
Business
Days
after
the
date
payable
,
the
Company
will
pay
interest
thereon
at
a
rate
of
1
.
0
%
per
month
(
or
such
lesser
maximum
amount
that
is
permitted
to
be
paid
by
applicable
law
)
to
the
Holder
,
accruing
daily
from
the
date
such
Liquidated
Damages
are
due
until
such
amounts
,
plus
all
such
interest
thereon
,
are
paid
in
full
.
Unless
otherwise
specified
in
Section
2
(
c
)
,
the
Liquidated
Damages
pursuant
to
the
terms
hereof
shall
apply
on
a
daily
pro-rata
basis
for
any
portion
of
a
month
prior
to
the
cure
of
an
Event
,
except
in
the
case
of
the
first
Event
Date
.
Notwithstanding
the
foregoing
,
nothing
shall
preclude
any
Holder
from
pursuing
or
obtaining
any
available
remedies
at
law
,
specific
performance
or
other
equitable
relief
with
respect
to
this
Section
2
(
c
)
in
accordance
with
applicable
law
.
The
Company
shall
not
be
liable
for
Liquidated
Damages
under
this
Agreement
as
to
any
Registrable
Securities
which
may
then
be
resold
under
Rule
144
or
which
are
not
permitted
by
the
Commission
to
be
included
in
a
Registration
Statement
due
solely
to
SEC
Guidance
from
the
time
that
it
is
determined
that
such
Registrable
Securities
are
not
permitted
to
be
registered
until
such
time
as
the
provisions
of
this
Agreement
as
to
the
Remainder
Registration
Statements
required
to
be
filed
hereunder
are
triggered
,
in
which
case
the
provisions
of
this
Section
2
(
c
)
shall
once
again
apply
,
if
applicable
.
In
such
case
,
the
Liquidated
Damages
shall
be
calculated
to
only
apply
to
the
percentage
of
Registrable
Securities
which
are
permitted
in
accordance
with
SEC
Guidance
to
be
included
in
such
Registration
Statement
.
The
Effectiveness
Deadline
for
a
Registration
Statement
shall
be
extended
without
default
or
Liquidated
Damages
hereunder
in
the
event
that
the
Companys
failure
to
obtain
the
effectiveness
of
the
Registration
Statement
on
a
timely
basis
results
from
the
failure
of
a
Holder
to
timely
provide
the
Company
with
information
requested
by
the
Company
and
necessary
to
complete
the
Registration
Statement
in
accordance
with
the
requirements
of
the
Securities
Act
(
in
which
the
Effectiveness
Deadline
would
be
extended
with
respect
to
Registrable
Securities
held
by
such
Holder
)
.