REGISTRATION DEFAULTS

REGISTRATION DEFAULTS. Shall mean the occurrence of any of the following events: (i) on or prior to the 90th day following the date of original issuance of the Preferred Stock, a Shelf Registration Statement has not been filed with the SEC, (ii) on or prior to the 180th day following the date of original issuance of the Preferred Stock, a Shelf Registration Statement has not been declared effective by the SEC or ... (iii) after a Shelf Registration Statement has been declared effective by the SEC, such Shelf Registration Statement thereafter ceases to be effective or usable (except as provided in the second to last paragraph of Section 3) in connection with resales of the Registrable Securities during the period specified in the third sentence of Section 2(a); provided, however, that a Registration Default shall cease to occur and be cured under clause (i) above at such time as the Shelf Registration Statement is filed; under cause (ii) above at such time as the Shelf Registration Statement is declared effective by the SEC; and under clause (iii) above at such time as the Shelf Registration Statement becomes effective or usable again after ceasing to be effective or usable. 3 4 View More