Common use of Exchange of Stock Clause in Contracts

Exchange of Stock. Exchange Agreement. Upon the terms and subject to the conditions set forth in this Agreement and upon the representations and warranties made herein by each of the parties to the other, the Company shall recommend to the Shareholders to deliver to the Buyer, in exchange for Buyers' Shares on the basis of 2.845618 Buyers Shares for each Company Share, all of their Company Shares. The maximum number of Company Shares available to be exchanged by the Shareholders hereunder is 5,717,563 common shares. These shares represent 100% of the total shares outstanding of the Company. The Buyer reserves the right to accept less than 5,717,563 Company Shares in the case where less than 5,717,563 Company Shares are offered by the Shareholders for exchange and further reserves the right to withdraw the share exchange offer in the event that insufficient Company Shares, at the Buyers sole discretion, are offered for exchange.

Exchange of Stock. Exchange Agreement. ------------------- Upon the terms and subject to the conditions set forth in this Agreement and upon the representations and warranties made herein by each of the parties to the other, the Company shall recommend to the Shareholders to deliver to the Buyer, in exchange for Buyers' Shares on the basis of 2.845618 Buyers Shares for each Company Share, all of their Company Shares. The maximum number of Company Shares available to be exchanged by the Shareholders hereunder is 5,717,563 common shares. These shares represent 100% of the total shares outstanding of the Company. The Buyer reserves the right to accept less than 5,717,563 Company Shares in the case where less than 5,717,563 Company Shares are offered by the Shareholders for exchange and further reserves the right to withdraw the share exchange offer in the event that insufficient Company Shares, at the Buyers sole discretion, are offered for exchange.