Commencement of Purchases of Common Stock. After the Commencement Date (as defined below), the purchase and sale of Purchase Shares hereunder shall occur from time to time upon written notices by the Company to the Buyer on the terms and conditions as set forth herein following the satisfaction of the conditions (the “Commencement”) as set forth in Sections 6 and 7 below (the date of satisfaction of such conditions, the “Commencement Date”).
Commencement of Purchases of Common Stock. The purchase and sale of Common Stock hereunder shall commence (the "Commencement") within five (5) Trading Days following the date of satisfaction (or waiver) of the conditions to the Commencement set forth in Sections 6 and 7 below (the date of such Commencement, the "Commencement Date").
Commencement of Purchases of Common Stock. After Commencement (as defined below), the Buyer may purchase the Purchase Shares, pursuant to the terms of this Agreement. At the time of each respective purchase hereunder, Buyer shall pay to the Company the respective purchase price at the time that the respective portion of the Purchase Shares are reflected in the Buyer’s brokerage account, via wire transfer, according to the wiring instructions attached hereto as Exhibit C (if this occurs after the wire cutoff time for Buyer’s bank, then Buyer shall pay the respective purchase price on immediately following Business Day). Upon issuance of the Purchase Shares as provided herein, such Purchase Shares shall be validly issued and fully paid and non-assessable. The purchase and sale of Purchase Shares hereunder shall occur from time to time upon written notices by the Company to the Buyer on the terms and conditions as set forth herein following the satisfaction of the conditions (the “Commencement”) as set forth in Sections 6 and 7 below (the date of satisfaction of such conditions, the “Commencement Date”).
Commencement of Purchases of Common Stock. The purchase and sale of Common Stock hereunder shall commence (the "Commencement") within five (5) Trading Days following the date of satisfaction (or waiver) of the conditions to the Commencement set forth in Sections 6 and 7 below (or such later date as is mutually agreed to by the Company and Buyer) (the date of such Commencement, the "Commencement Date"), provided, however, that on the date hereof, the Buyer agrees to purchase and the Company agrees to sell 1,250,000 Purchase Shares ("Initial Purchase Shares")at a purchase price per share equal to $0.20 ("Initial Purchase Price") and warrants (the "Warrants") in the form of EXHIBIT F hereto to purchase 937,500 shares of Common Stock ("Warrant Shares") at an exercise price of $0.40 per share. Upon receipt of the Initial Purchase Shares in certificated form, the Warrants, and the Initial Commitment Shares in accordance with Section 4(f) hereof, the Buyer shall pay to the Company $250,000 as full payment for the purchase of the Initial Purchase Shares and the Warrants.
Commencement of Purchases of Common Stock. After the Commencement Date (as defined below), the purchase and sale of Purchase Shares hereunder shall occur from time to time upon written notices by the Company to the Buyer on the terms and conditions as set forth herein following the satisfaction of the conditions (the “Commencement”) as set forth in Sections 6 and 7 below (the date of satisfaction of such conditions, the “Commencement Date”). Subject to the terms and conditions of this Agreement, after the Commencement Date, the Company shall be obligated to sell and the Buyer shall be obligated to purchase an aggregate of $2,000,000 of Common Stock (the “Merger Regular Purchase”) from the Company on the date of the closing of the Financing (as defined in that certain Agreement And Plan Of Merger dated as of December 22, 2016 by and among the Company and the parties thereto (the “Merger Agreement”) filed as Exhibit 2.1 to the Current Report on Form 8-K filed by the Company on December 27, 2016). The per share purchase price for the Merger Regular Purchase shall be equal to the per share price for Common Stock in the Financing paid to the Company by the Financing Investors (as defined in the Merger Agreement), however, in no event shall the per share purchase price for the Merger Regular Purchase exceed $0.96, which price shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction.
Commencement of Purchases of Common Stock. The purchase and sale of Purchase Shares hereunder shall commence (the "Commencement") within five (5) Trading Days following the date of satisfaction of the conditions to the Commencement set forth in Sections 6 and 7 below (the date of such Commencement, the "Commencement Date") provided, however, that on the date that the registration statement described in Section 4(a) hereof is declared effective by the SEC, the Buyer agrees to purchase and the Company agrees to sell 1,333,334 Purchase Shares (“Initial Purchase Shares”) at a purchase price per share equal to $0.15. Upon receipt of the Initial Purchase Shares in certificated form in accordance with Section 4(f) hereof, the Buyer shall pay to the Company $200,000 as full payment for the purchase of the Initial Purchase Shares.
Commencement of Purchases of Common Stock. The purchase and sale of Common Stock hereunder shall commence (the "Commencement") within five (5) Trading Days following the date of satisfaction (or waiver) of the conditions to the Commencement set forth in Sections 6 and 7 below, (the date of such Commencement, the "Commencement Date"). Notwithstanding anything in this Agreement to the contrary, in the event that the Buyer pays any Prepaid Amount (as defined in Section 1(b) below) to the Company at any time, and from time to time, prior to the Commencement, the Company agrees to issue, sell and deliver or cause to be delivered to the Buyer, upon submission of a Purchase Notice, shares of Common Stock in accordance with Section 1 of this Agreement as if the Commencement had occurred. In the event the Company is unable to deliver or cause to be delivered to the Buyer shares of Common Stock which are freely tradable without restriction under the 1933 Act, than the Company shall be required to deliver shares of Common Stock that are "restricted" under the 1933 Act in satisfaction of any Purchase Notice delivered to the Company prior to the Commencement.
Commencement of Purchases of Common Stock. On the day following the filing of the Form 8-K as described in Section 4 herein, but not later than February 3, 2017 (“Effective Date”), the Company shall deliver such number of shares of Common Stock or a combination thereto, at the election of Buyer, representing a dollar amount equal to $230,167 representing the payment of the Commitment Shares (as defined in Section 4(e)) based on a per share price equal to the lowest intraday bid price on the Effective Date (each such tranche of the purchase, the “Initial Purchase” and each such tranche of the initial Purchase Shares are referred to herein as “Initial Purchase Shares”). Such Initial Purchase Shares shall be validly issued and fully paid and non-assessable. Thereafter, the purchase and sale of additional Purchase Shares hereunder shall occur from time to time upon written notices by the Company to the Buyer on the terms and conditions as set forth herein following the satisfaction of the conditions (the “Commencement”) as set forth in Sections 6 and 7 below (the date of satisfaction of such conditions, the “Commencement Date”).
Commencement of Purchases of Common Stock. The purchase and sale of Common Stock hereunder shall commence (the "Commencement") within five (5) Trading Days following the date of satisfaction (or waiver) of the conditions to the Commencement set forth in Sections 6 and 7 below (or such later date as is mutually agreed to by the Company and Buyer) (the date of such Commencement, the "Commencement Date"), provided, however, that on the date hereof, the Buyer agrees to purchase and the Company agrees to sell 200,000 Purchase Shares at a purchase price per share equal to $2.50 ("Initial Purchase Shares") and warrants to purchase 500,000 shares of Common Stock at an exercise price of $2.50 per share. Upon receipt of the Initial Purchase Shares in certificated form, the Warrants, and the Commitment Shares in accordance with Section 4(f) hereof, the Buyer shall pay to the Company $500,000 as full payment for the purchase of the Initial Purchase Shares.
Commencement of Purchases of Common Stock. After Commencement (as defined below), the Buyer may purchase the Purchase Shares, pursuant to the terms of this Agreement. The sale of the Purchase Shares hereunder shall occur upon delivery of the Purchase Notice by the Company to the Buyer on the terms and conditions as set forth herein following the satisfaction of the conditions (the “Commencement”) as set forth in Sections 6 and 7 below (the date of satisfaction of such conditions, the “Commencement Date”). Upon issuance of the Purchase Shares as provided herein, such Purchase Shares shall be validly issued and fully paid and non-assessable. Buyer shall pay to the Company the respective purchase price on the Closing Date, as long as the Purchase Shares are reflected in the Buyer’s brokerage account, via wire transfer according to the wiring instructions attached hereto as Exhibit C.
