Common use of Agreement to Subscribe Clause in Contracts

Agreement to Subscribe. 1.1. Purchase and Issuance of the Private Units. (a) Upon the terms and subject to the conditions of this Agreement, each Subscriber hereby agrees to purchase from the Company, and the Company hereby agrees to sell to each Subscriber, on the initial Closing Date (as defined below) the number of Initial Private Units set forth next to each Subscriber’s name on Schedule A hereto in consideration of the payment of the Initial Purchase Price. On the initial Closing Date, the Company shall, at its option, deliver to each Subscriber the certificates representing the Securities purchased by such Subscriber or effect such delivery in book-entry form. (b) Each Subscriber hereby agrees to purchase up to the amount of Additional Private Units set forth on Schedule A hereto at $10.00 per Additional Private Unit. The purchase and issuance of the Additional Private Units shall occur only in the event that the Over-Allotment Option is exercised in full or in part. The total number of Additional Private Units to be purchased hereunder shall be in the same proportion as the proportion of the Over-Allotment Option that is exercised. Each purchase of Additional Private Units shall occur simultaneously with the consummation of any portion of the Over-Allotment Option.