Common use of Commencement of Regular Sales of Common Stock Clause in Contracts

Commencement of Regular Sales of Common Stock. Upon the satisfaction of the conditions set forth in Sections 7 and 8 hereof (the “Commencement” and the date of satisfaction of such conditions the “Commencement Date”) and thereafter, the Company shall have the right, but not the obligation, to direct the Investor, by its delivery to the Investor of a Request Notice from time to time, to purchase shares of common stock at the Purchase Price on the Purchase Date. If the Company delivers any Request Notice for a Purchase Share Amount in excess of the Request Limits, such Request Notice shall be void ab initio to the extent of the number by which the number of Purchase Shares set forth in such Request Notice exceeds the number of Purchase Shares which the Company is permitted to include in such Request Notice in accordance herewith, and the Investor shall have no obligation to purchase such excess Purchase Shares in respect of such Request Notice; provided that the Investor shall remain obligated to purchase the number of Purchase Shares which the Company is permitted to include in such Request Notice. The Company may deliver Request Notices to the Investor as often as every Business Day, so long as the Company has not failed to deliver Purchase Shares for all prior Share Purchases, including, without limitation, those that have been effected on the same Business Day as the applicable Purchase Date, have theretofore been received by the Investor as DWAC Shares in accordance with this Agreement.

Appears in 3 contracts

Samples: Purchase Agreement (Item 9 Labs Corp.), Purchase Agreement (One World Products, Inc.), Purchase Agreement (Organicell Regenerative Medicine, Inc.)

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Commencement of Regular Sales of Common Stock. Upon the satisfaction of the conditions set forth in Sections 7 and 8 hereof (the “Commencement” and the date of satisfaction of such conditions the “Commencement Date”), the Investor shall during the Term purchase up to 3,500,000 Purchase Shares at the Purchase Price. Beginning one (1) and thereafterBusiness Day following the Commencement Date, the Company shall have the right, but not the obligation, to direct the Investor, by its delivery to the Investor of a Request Put Notice from time to time, to purchase shares any number of common stock Purchase Shares (each such purchase a “Purchase”), at the Purchase Price on the Purchase Put Date, subject to the Put Ceiling. If the Company delivers any Request Put Notice for a number of Purchase Share Amount Shares in excess of the Request Limitslimitations contained in the immediately preceding sentence, such Request Put Notice shall be void ab initio to the extent of the number amount by which the number of Purchase Shares set forth in such Request Put Notice exceeds the number of Purchase Shares which the Company is permitted to include in such Request Purchase Notice in accordance herewith, and the Investor shall have no obligation to purchase such excess Purchase Shares in respect of such Request Put Notice; provided that the Investor shall remain obligated to purchase the number of Purchase Shares which the Company is permitted to include in such Request Put Notice. The Company may deliver Request Notices to the Investor as often as every Business Day, so long as the Company has not failed shall be permitted to deliver Purchase Shares for all prior Share Purchases, including, without limitation, those that have been effected on the same Business Day as the applicable Purchase Date, have theretofore been received by the Investor as DWAC Shares in accordance with this Agreementup to four (4) Put Notices per month.

Appears in 1 contract

Samples: Capital Access Agreement (Immune Pharmaceuticals Inc)

Commencement of Regular Sales of Common Stock. Upon the satisfaction of the conditions set forth in Sections 7 and 8 hereof (the “Commencement” and the date of satisfaction of such conditions the “Commencement Date”), the Investor shall during the Term purchase up to 3,700,000 Purchase Shares at the Purchase Price. Beginning one (1) and thereafterBusiness Day following the Commencement Date, the Company shall have the right, but not the obligation, to direct the Investor, by its delivery to the Investor of a Request Put Notice from time to time, to purchase shares any number of common stock Purchase Shares (each such purchase a “Purchase”), at the Purchase Price on the Purchase Put Date, subject to the Put Ceiling. If the Company delivers any Request Put Notice for a number of Purchase Share Amount Shares in excess of the Request Limitslimitations contained in the immediately preceding sentence, such Request Put Notice shall be void ab initio to the extent of the number amount by which the number of Purchase Shares set forth in such Request Put Notice exceeds the number of Purchase Shares which the Company is permitted to include in such Request Purchase Notice in accordance herewith, and the Investor shall have no obligation to purchase such excess Purchase Shares in respect of such Request Put Notice; provided that the Investor shall remain obligated to purchase the number of Purchase Shares which the Company is permitted to include in such Request Put Notice. The Company may shall be permitted to deliver Request up to four (4) Put Notices to per month. For the Investor as often as every Business Dayfirst put only initiated under this agreement, so long as Regatta shall advance the Company has not failed $125,000 as an advance to deliver Purchase Shares for all prior Share Purchases, including, without limitation, those that have been effected on be reduced from the same Business Day as proceeds received from the applicable Purchase Date, have theretofore been received by the Investor as DWAC Shares in accordance with this Agreementfirst put.

Appears in 1 contract

Samples: Capital Access Agreement (Immune Pharmaceuticals Inc)

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Commencement of Regular Sales of Common Stock. Upon the satisfaction of the conditions set forth in Sections 7 and 8 hereof (the "Commencement" and the date of satisfaction of such conditions the "Commencement Date") and thereafter, the Company shall have the right, but not the obligation, to direct the Investor, by its delivery to the Investor of a Request Notice from time to time, to purchase shares of common stock at the Purchase Price on the Purchase Date. If the Company delivers any Request Notice for a Purchase Share Amount in excess of the Request Limits, such Request Notice shall be void ab initio to the extent of the number by which the number of Purchase Shares set forth in such Request Notice exceeds the number of Purchase Shares which the Company is permitted to include in such Request Notice in accordance herewith, and the Investor shall have no obligation to purchase such excess Purchase Shares in respect of such Request Notice; provided that the Investor shall remain obligated to purchase the number of Purchase Shares which the Company is permitted to include in such Request Notice. The Company may deliver Request Notices to the Investor as often as every Business Day, so long as the Company has not failed to deliver Purchase Shares for all prior Share Purchases, including, without limitation, those that have been effected on the same Business Day as the applicable Purchase Date, have theretofore been received by the Investor as DWAC Shares in accordance with this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (Cannapharmarx, Inc.)

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