Common use of Computation of Certain Consideration Clause in Contracts

Computation of Certain Consideration. For purposes of any computation with respect to the consideration received pursuant to Sections 6(a) and 6(b) above, the following shall apply: (i) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Company for any underwriting of the issue or otherwise in connection therewith; (ii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Company (irrespective of the accounting treatment thereof), whose determination shall be conclusive; and (iii) in the case of a Convertible Stock Issuance, the aggregate consideration received therefor shall be deemed to be the consideration received by the Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Company upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (i) and (ii) of this Section 6(d)).

Appears in 7 contracts

Samples: Securities Purchase Agreement (Protocall Technologies Inc), Securities Purchase Agreement (Protocall Technologies Inc), Securities Purchase Agreement (Protocall Technologies Inc)

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Computation of Certain Consideration. For purposes of any computation with respect to the consideration received pursuant to Sections 6(a) and 6(b) above, the following shall apply: (i) in the case of the issuance of shares of Common Stock common stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Company for any underwriting of the issue or otherwise in connection therewith; (ii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Company (irrespective of the accounting treatment thereof), whose determination shall be conclusive; and (iii) in the case of a Convertible Stock Issuance, the aggregate consideration received therefor shall be deemed to be the consideration received by the Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Company upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (i) and (ii) of this Section 6(d3(d)).

Appears in 2 contracts

Samples: Subscription Agreement (CrowdGather, Inc.), Subscription Agreement (CrowdGather, Inc.)

Computation of Certain Consideration. For purposes of any computation with respect to the consideration received pursuant to Sections 6(a4.12(a) and 6(b4.12(b) above, the following shall apply: (i) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Company for any underwriting of the issue or otherwise in connection therewith; (ii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Company (irrespective of the accounting treatment thereof), whose determination shall be conclusive; and (iii) in the case of a Convertible Stock Issuance, the aggregate consideration received therefor shall be deemed to be the consideration received by the Company for the issuance of such securities New Convertible Securities plus the additional minimum consideration, if any, to be received by the Company upon the conversion conversion, exercise or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (i) and (ii) of this Section 6(d4.12(d)).

Appears in 1 contract

Samples: Securities Purchase Agreement (I-Level Media Group Inc)

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Computation of Certain Consideration. For purposes of any computation with respect to the consideration received pursuant to Sections 6(a) 6.1 and 6(b) 6.2 above, the following shall apply: (ia) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Company Pubco for any underwriting of the issue or otherwise in connection therewith; (iib) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Company Pubco (irrespective of the accounting treatment thereof), whose determination shall be conclusive; and (iiic) in the case of a Convertible Stock Issuancethe issuance of securities convertible or exercisable into or exchangeable for shares of Common Stock, the aggregate consideration received therefor shall be deemed to be the consideration received by the Company Pubco for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Company Pubco upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (ia) and (iib) of this Section 6(d)6.4).

Appears in 1 contract

Samples: Subscription Agreement (Lions Gate Investment LTD)

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