Consideration for Extension. In addition to the Number of CPOs and/or the Acquisition Amount to be delivered by CEMEX in consideration for the Seller's Shares from time to time, CEMEX agrees to pay to the Seller in arrears on each Payment Date an amount equal to the Base Deferral Fee, and any other amount due hereunder, in accordance with the following:
Consideration for Extension. As consideration for the extension set forth in Section 4 hereof, the Company agrees to issue to AJB 165,000 shares of Common Stock (the “Extension Shares”). Upon request by the Holder, the Company shall instruct its transfer agent (the “Transfer Agent”) to issue from time to time following the Amendment Effective Date, share certificate(s) or book entry statement(s) for an aggregate amount of 165,000 shares of Common Stock, such that the Holder shall never be in possession of an amount of Common Stock greater than 9.99% of the issued and outstanding Common Stock of the Company; provided, however that (i) this ownership restriction described in this Section may be waived by Hxxxxx, in whole or in part, upon 61 days’ prior written notice, or (ii) the Company shall not issue such shares until such time as Holder’s ownership is less than 9.99%. In the event any certificate or book entry statement representing the Extension Shares issuable hereunder shall not be delivered to the Holder within two (2) Business Days following any request hereunder, the same shall be an immediate default under this Amendment, the Notes, and any other documents or agreements executed in connection with the transactions contemplated hereunder (the “Transaction Documents”). The Extension Shares, when issued, shall be deemed to be validly issued, fully paid, and non-assessable shares of the Company’s Common Stock. The Extension Shares shall be deemed fully earned as of the date hereof. For the avoidance of doubt, the foregoing described Extension Shares are in addition to any other shares of Common Stock owing to AJB pursuant to the Notes, the Prior Global Amendments or any other documents or agreements executed in connection therewith. If necessary, the Company shall obtain shareholder approval and make all the necessary regulatory filings relating to the issuance of the Extension Shares.
Consideration for Extension. As consideration for the above, the Company will issue to the Purchasers the following warrants (the “New Warrants”), in the form attached hereto as Exhibit B, provided, however, that the following number of shares of common stock of the Company underlying such New Warrants shall be the following: Name of Holder Number of Warrant Shares Exercise Price per Share Kxxxxxx Investment, LLC 420,000 $0.06 Nxxxxx X. Xxxxx 31,112 $0.06 Dxxxx Xxxxxxx 40,000 $0.06 Axxxxx X. Xxxxxx 40,000 $0.06
Consideration for Extension. Buyer shall pay Seller, contemporaneously with execution of this Amendment and delivery of notice of each subsequent exercise of an Option, the sum of One Hundred Thousand Dollars ($100,000) (for a total of Three Hundred Thousand Dollars ($300,000) if Buyer exercises all three Options). Of each such One Hundred Thousand Dollars ($100,000), Sixty-Seven Thousand Dollars ($67,000) shall unconditionally belong to Seller, and Thirty-Three Thousand Dollars ($33,000) shall be (i) applied toward the Cash Purchase Price if the Closing occurs, and (ii) treated in the same fashion as the Deposit if the Closing does not occur.
Consideration for Extension. SGI shall pay Bluegrass the sum of $50,000 for the extension being provided for in this Second Amendment. That payment shall be made as follows: $16,667 shall be paid to Bluegrass on July 1, 2000; $16,667 shall be paid to Bluegrass on August 1, 2000; and finally $16,666 shall be paid to Bluegrass on September 1, 2000. The parties also acknowledge that as additional consideration for the extension SGI shall obtain a written acknowledgement (the "Written Acknowledgement") from Vulcan and/or Triton that the $36,000,000 bond required under the Facility Use and Indemnity Agreement (the "Indemnity Agreement") can be reduced to $10,000,000. SGI shall and is authorized to act on behalf of Sellers to obtain the Written Acknowledgement. SGI hereby waives any claim against AEI for the $15,000 paid by Xxxxxxx Coal to TEK-KOL for a Phase I study, which might have been retained by AEI. In return, except as set forth in Section 4 below, AEI agrees that SGI does not owe it for any bond premiums for coverage through June 30, 2000 beyond the payments already made by SGI for $10,000,000 in bonding as required by the First Amendment.
Consideration for Extension. As consideration for the above, the Company will issue to the holders of the September Notes an aggregate of 100,000 restricted shares of its common stock as set forth on Exhibit A hereto.
Consideration for Extension. SGI shall pay Bluegrass the sum of $50,000 for the extension being provided for in this First Amendment. That payment shall be made as follows: $16,667 shall be paid to Bluegrass on April 1, 2000; $16,667 shall be paid to Bluegrass on May 1, 2000; and finally $16,666 shall be paid to Bluegrass on June 1, 2000.
Consideration for Extension. As consideration for extension of the Maturity Date, the principal amount owing to Lenders shall be increased by an amount equal to two percent (2%) multiplied by the principal amount owing immediately prior to execution of this Amendment.
Consideration for Extension. The Subsidiary shall agree to pay to the Company an additional sum of Three Hundred Thousand Dollars ($300,000) (the “Supplemental Consideration”) and shall concurrently herewith execute and deliver to the Company a promissory note (in the form attached hereto as Exhibit A) in the principal amount of Three Hundred Thousand Dollars in satisfaction thereof (the “Supplemental Note”), which the Parties agree and acknowledge represents a portion of the increased value of the Purchased Assets received by the Subsidiary under the Asset Purchase Agreement, and the Purchase Price Consideration is hereby increased by the Supplemental Consideration (net of any forgiveness under the Supplemental Note), which shall be allocated for tax purposes among the Purchased Assets in proportion to the valuations set forth in Disclosure Schedule 3.6 of the Asset Purchase Agreement and the value of each category of Purchased Assets shall be appropriately increased thereby.
Consideration for Extension. In consideration of Seller granting the extension of time to close Escrow as herein provided, Xxxxxxxx shall pay directly to Seller, outside of Escrow, the sum of Two Million and No/100 Dollars ($2,000,000.00), which such amount shall be credited against the Purchase Price at the Closing. Promptly upon receipt of such payment, Seller shall acknowledge its receipt by sending written notice to Escrow Holder, with a copy to Xxxxxxxx. Escrow Holder is directed, upon its receipt of a copy of this Second Amendment, to immediately return to Buyer the current Deposit, to wit, the Letter of Credit in the amount of Twenty Five Thousand Dollars ($25,000) and the Letter of Credit in the amount of Three Hundred and Twenty-Five Thousand Dollars ($325,000) previously deposited with Escrow Holder. Sections 2(a), 2(b), 2(d) and 2(e) of the Purchase Agreement are hereby deleted in their entirety. The amounts payable to Seller hereunder, together with the amounts, if any, paid to Seller pursuant to Section 13 of this Second Amendment, shall constitute the only amounts payable to Seller in the event Buyer elects not to purchase the Property hereunder.
