Additional Investment Option. The Buyer shall have a 6 month option to purchase an additional $50,000 Note on the same terms herein and as set forth in the Note being issued herein.
Additional Investment Option. (a) From the date of this Agreement until March 31, 2017, the Purchasers, subject to approval by the Company, shall have the right to purchase from the Company the same securities issued pursuant to the Transaction Documents on the same terms, conditions and price provided for in the Transaction Documents, in an aggregate subscription amount (which shall be distributed amongst the Purchasers on a pro rata basis depending upon each such Purchaser’s Subscription Amount) up to $3,000,000.
Additional Investment Option. From the Effective Date until December 31, 2004, ("Company Exercise Period"), if (a) each VWAP during any 10 consecutive Trading Days during the Company Exercise Period is at least $2.00, subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions of the Common Stock that occur after the date of this Agreement and (b) no Triggering Event under the Certificate of Designations shall have occurred since the Closing Date, then the Company may, in its sole determination and by notice to the Purchasers within 2 Trading Days' of the end of any Company Exercise Period cause each Purchaser to purchase, in the ratio of such Purchaser's Subscription Amount on the Closing Date to the aggregate Subscription Amounts of all Purchasers on the Closing Date, additional shares of Preferred Stock for an aggregate purchase price among all Purchasers of up to $7,000,000. Any additional investment will be on terms, conditions and prices (as set on the Closing Date) identical those set forth in the Transaction Documents, mutatis mutandis. Notwithstanding the foregoing, for clarification, the Warrant exercise prices and the conversion price for any additional shares of Preferred Stock issued in accordance with this Section 4.15 shall be based upon the then current VWAP which is at least $2.00. In order to effectuate a purchase and sale of the additional shares of Preferred Stock, the Company and the Purchasers shall enter into the following agreements: (x) a securities purchase agreement identical to this Agreement, mutatis mutandis and shall include updated disclosure schedules and (y) a registration rights agreement identical to the Registration Rights Agreement, mutatis mutandis and shall include updated disclosure schedules. Any such additional Investment shall close within 5 Trading Days of notice to the Purchasers by the Company that the Company elects to exercise its rights hereunder. The Company's right hereunder shall be applied ratably to all Purchasers as set forth above. The Purchasers shall not be obligated to purchase such securities, notwithstanding this right, if a Material Adverse Effect has occurred during the period from the Closing Date to the date of such exercise or if a Purchaser reasonably believes that, based on the information contained in the disclosure schedules, a Material Adverse Effect will occur.
Additional Investment Option. (a) From the Effective Date until the 9 month anniversary of the Effective Date ("Company Exercise Period"), if on any Trading Day during such period (i) the Company duly satisfies the Corporate Milestones and provides written confirmation in the form of a Secretary's Certificate of the Company and a duly authorized representative of each AWP vendor where the Company's "Amusement with Prize" machines have been deployed in satisfaction of such Corporate Milestones to each Purchaser, (ii) the Company has hired a full-time chief financial officer with senior financial management experience with other publicly traded companies and (iii) for a period of 20 Trading Days prior to such day through the closing date of the Company Option (as defined below), the daily volume for the Common Stock on the Trading Market exceeds $100,000 per Trading Day with a VWAP for each such Trading Day equal to or greater than $2.00 per share (subject to adjustment for forward and reverse stock splits and the like), each Purchaser shall be required to purchase, in the ratio of such Purchaser's Subscription Amount on the Closing Date to the aggregate Subscription Amounts of all Purchasers on the Closing Date (such amount, the Purchaser's "Pro Rata Share"), additional shares of Preferred Stock and Warrants, for an aggregate purchase price of up to the difference between $10,000,000 and the aggregate Subscription Amounts hereunder (the "Company Option"). Any Company Option shall close within 10 Trading Days of notice to each Purchaser by the Company that the Company has duly satisfied the Corporate Milestones and that the Company elects to exercise its Company Option hereunder. The Purchasers shall not be obligated to purchase such securities issuable pursuant to the Company Option, notwithstanding this right, if a Material Adverse Effect has occurred during the period from the Closing Date to the date of such exercise or if such Purchaser reasonably believes that, based on the information contained in the disclosure schedules, a Material Adverse Effect will occur or, if from the commencement of the Company Exercise Period until the additional investment is closed, the Equity Conditions (as defined in the Certificate of Designation) are not satisfied as to the Preferred Stock and Warrants.
Additional Investment Option. If the Subscriber’s aggregate Purchase Price paid pursuant to this Subscription Agreement equals or exceeds $3,000,000, then for a period of twelve (12) months from the Closing Date the Subscriber will have the right but not the obligation to purchase additional Units up to 50% of the dollar amount invested by such investor in the Offering at a price of $1.35 per Unit, provided that the additional Warrants included in such additional Investment Units shall not be subject to cashless exercise (“the Additional Investment Option”). For example, if the investor invested $4,000,000 in the Offering, then for a period of 12 months from the Closing Date, such investor shall have the option to purchase an additional $2,000,000 in Units except that the price per Unit shall be $1.35 and the Warrants included in such additional Units shall not be subject to cashless exercise. For purposes of this Additional Investment Option, all investments managed by the same Investment Advisor shall be aggregated and deemed to be as one.
Additional Investment Option. (a) From the Effective Date until the 6 month anniversary of the Effective Date (“Company Exercise Period”), if on any Trading Day during such period the Company duly satisfies the Corporate Milestones and provides written confirmation in the form of a Secretary’s Certificate of the Company of satisfaction of such Corporate Milestones to each Purchaser, each Purchaser shall be required to purchase, in the ratio of such Purchaser’s Subscription Amount on the Closing Date to the aggregate Subscription Amounts of all Purchasers on the Closing Date (such amount, the Purchaser’s “Pro Rata Share”), additional Debentures and Warrants, for an aggregate cash purchase price of up to fifty percent (50%) of the aggregate cash Subscription Amounts hereunder (the “Company Option”). Any Company Option shall close within 10 Trading Days of notice to each Purchaser by the Company that the Company has duly satisfied the Corporate Milestones and that the Company elects to exercise its Company Option hereunder. The Purchasers shall not be obligated to purchase such securities issuable pursuant to the Company Option, notwithstanding this right, if (i) a Material Adverse Effect has occurred during the period from the Closing Date to the date of such exercise until the additional investment is closed or (ii) the Equity Conditions (as defined in the Debentures) are not satisfied as to the Debentures and Warrants.
Additional Investment Option. (a) From the date hereof until June 30, 2017 each Purchaser may elect to purchase, severally and not jointly with the other Purchasers and in one or more purchases, in the ratio of such Purchaser’s original Subscription Amount to the original aggregate Subscription Amount of all Purchasers, additional Debentures and shares of Preferred Stock with an aggregate subscription amount thereof equal to $3,000,000 in accordance with the calculations in Section 2.2 (such securities, the “Additional Securities” and such right to receive the Additional Securities pursuant to this Section 4.18, the “Additional Rights”).
Additional Investment Option. From the date hereof until 180 days after the Effective Date, Crestview Capital Funds LLC ("Crestview") and Midsummer Investments Ltd. ("Midsummer") may, in their respective determination, elect to purchase additional Preferred Stock and Warrants for an aggregate purchase price of up to $2,000,000 as to Crestview and $1,000,000 as to Midsummer. Any additional investment will be on terms and prices identical those set forth in the Transaction Documents, mutatis mutandis. In order to effectuate a purchase and sale of the additional shares of Preferred Stock and Warrants, the Company and Crestview and/or Midsummer shall enter into the following agreements: (x) a securities purchase agreement identical to this Agreement, mutatis mutandis and shall include updated disclosure schedules and (y) a registration rights agreement identical to the Registration Rights Agreement, mutatis mutandis and shall include updated disclosure schedules. Any such additional investment shall close within 10 Trading Days of notice to the Company by Crestview and/or Midsummer that Crestview and/or Midsummer elects to exercise its rights hereunder.
Additional Investment Option. From the date of Shareholder Approval until the later of 6 months after the Effective Date and 6 month following the date of Shareholder Approval, each Purchaser may, in its sole determination and severally and not jointly with the other Purchasers, elect to purchase, in the ratio of such Purchaser's Subscription Amount on the Closing Date to the aggregate Subscription Amounts of all Purchasers on the Closing Date, additional Debentures and Warrants for an aggregate Subscription Amount among all Purchasers of up to $1,000,000. Any additional investment will be on terms and prices identical those set forth in the Transaction Documents, mutatis mutandis. In order to effectuate a purchase and sale of the additional Debentures and Warrants, the Company and the Purchasers shall enter into the following agreements: (x) a securities purchase agreement identical to this Agreement, mutatis mutandis and shall include updated disclosure schedules and (y) a registration rights agreement identical to the Registration Rights Agreement, mutatis mutandis and shall include updated disclosure schedules. Any such additional Investment shall close within 10 Trading Days of notice to the Company by a Purchaser that such Purchaser elects to exercise its rights hereunder. The parties hereby agree and acknowledge that the rights granted hereunder to a Purchaser are independent and separate of the rights granted to any other Purchaser and a Purchasers election to exercise its right to an additional investment hereunder does not obligate any other Purchaser to also elect at such time nor does it waive any Purchaser's right to elect to exercise at a later date.
Additional Investment Option. From the date hereof until ---------------------------- 180 days after the Effective Date, Midsummer Investments Ltd. ("Midsummer") may, in its sole determination, elect to purchase --------- additional Preferred Stock and Warrants for an aggregate purchase price of up to $2,000,000. Any additional investment will be on terms and prices identical those set forth in the Transaction Documents, mutatis mutandis. In order to effectuate a purchase and sale of the additional shares of Preferred Stock and Warrants, the Company and Midsummer shall enter into the following agreements: (x) a securities purchase agreement identical to this Agreement, mutatis mutandis and shall include updated disclosure schedules and (y) a registration rights agreement identical to the Registration Rights Agreement, mutatis mutandis and shall include updated disclosure schedules. Any such additional investment shall close within 10 Trading Days of notice to the Company by Midsummer that it elects to exercise its rights hereunder.
