Common use of Consideration Received Clause in Contracts

Consideration Received. In the case of the issuance, sale, distribution or grant of Common Stock for cash, the consideration shall be deemed to be the amount of cash paid therefor before deducting any reasonable discounts, commissions or other expenses allowed, paid or incurred by this corporation for any underwriting or otherwise in connection with the issuance and sale thereof. In the case of the issuance, sale, distribution or grant of the 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 value thereof at the time of such issuance or sale as determined in good faith by the Board of Directors irrespective of any accounting treatment.

Consideration Received. In the case of the issuance, sale, distribution or grant of Common Stock for cash, the consideration shall be deemed to be the amount of cash paid therefor before deducting any reasonable discounts, commissions or other expenses allowed, paid or incurred by this corporation the Company for any underwriting or otherwise in connection with the issuance and sale thereof. In the case of the issuance, sale, distribution or grant of the 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 value thereof at the time of such issuance or sale as determined in good faith by the Board of Directors irrespective of any accounting treatment.