Faraday未按照1.1(a)和/或1.1(b)款的规定支付结算费用将被自动视为违约("违约”). In the event of Default, Palantir shall be entitled to recommence the Arbitration Proceeding, including but not limited to seeking payment for amounts due thereunder, in the form of cash, as in effect immediately prior to the effectiveness of this Agreement.
For the avoidance of doubt, Palantir shall have no obligation to perform any obligation pursuant to the MSA and/or Order Form #1 from the Effective Date until the Termination Date. Faraday shall have no obligation to perform any obligation pursuant to the MSA or Order Form #1 from the Effective Date until the Termination Date, unless it Defaults.
Notwithstanding anything to the contrary in this Agreement, to the extent any proposed payment in the form of Acquired Shares or issuance of Acquired Shares to Palantir would, after giving effect to such
proposed payment or issuance, result in Palantir beneficially owning over 18.50% of the Faraday’s then-outstanding shares of Class A common stock or other applicable class or series of securities as the Acquired Shares (as publicly disclosed in Faraday’s then-current filings with the SEC or as set forth in a written or emailed notice to Palantir from the Company or its transfer agent as of the proposed date of issuance of such Acquired Shares), as calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations thereunder, the Faraday shall not issue and may not make such payment in the form of Acquired Shares and, instead, such payment shall instead be immediately due and payable only in the form of cash.
2.Effect of Amendments and Modifications
Any amendments or modifications to the Settlement Agreement shall be deemed fully incorporated in that agreement. Collectively, this Letter Amendment to the Settlement Agreement and the Settlement Agreement shall be referred to as the “Agreement.”
Except as modified by this Letter Amendment, the Settlement Agreement is incorporated herein and made a part hereof.
To the extent there is a conflict between this Letter Amendment and the Settlement Agreement, this Letter Amendment controls.