Examples of Sale Notice in a sentence
A Sale Notice shall be deemed delivered on (i) the business day it is received by email by the Investor, if the Sale Notice is received on or prior to 8:30 a.m. Los Angeles, California time, or (ii) the immediately succeeding business day if either it is received by email after 8:30 a.m. Los Angeles, California time on a business day or at any time on a day which is not a business day.
Without the written consent of the Investor, which may be withheld in its discretion, the Company may only deliver a Sale Notice (i) once each month, (ii) in a minimum amount of $20,000.00, (iii) in an aggregate maximum amount of $750,000.00 per each three month period ending on June 30, September 30, December 31 and March 31 of each year.
If the value of the Sale Shares stated in the Sale Notice delivered to the Investor causes the Company to exceed the Maximum Commitment Amount, then the amounts of the Sale Shares and Purchase price will be reduced automatically to not exceed the Maximum Commitment Amount.
Upon the terms and conditions set forth herein, the Company shall have the right, but not the obligation, from time to time, to deliver a Sale Notice to the Investor.
The Company may terminate this Agreement at any time by written notice to the Investor, except during any the period after the giving of a Sale Notice and ending on the Closing hereof, unless the Investor has rejected the sale and purchase of the Sale Shares as provided herein.