Initial Commitment Shares; Initial Purchase Shares Sample Clauses

Initial Commitment Shares; Initial Purchase Shares. In consideration for the Investor’s execution and delivery of this Agreement, concurrently with the execution and delivery of this Agreement on the Closing Date, the Company shall deliver irrevocable instructions to its transfer agent to issue to the Investor, not later than 4:00 p.m. (New York City time) on the Trading Day immediately following the Closing Date, one or more certificate(s) or book-entry statement(s) representing the Initial Commitment Shares in the name of the Investor or its designee (in which case such designee name shall have been provided to the Company on or prior to the Closing Date). For the avoidance of doubt, all of the Initial Commitment Shares shall be fully earned as of the Closing Date regardless of whether any VWAP Purchases are issued by the Company or settled hereunder or any termination of this Agreement. In connection with the Initial Purchase by the Investor of the Initial Purchase Shares from the Company on the Closing Date pursuant to this Agreement, the Company shall, on the Closing Date, deliver irrevocable instructions to its transfer agent to issue to the Investor, not later than 4:00 p.m. (New York City time) on the Trading Day immediately following the Closing Date, one or more certificate(s) or book-entry statement(s) representing the Initial Purchase Shares in the name of the Investor or its designee (in which case such designee name shall have been provided to the Company on or prior to the Closing Date). At the request of the Investor and in accordance with the Investor’s instructions provided to the Company on or prior to the Closing Date, the Initial Commitment Shares and the Initial Purchase Shares shall be represented in a single certificate or book-entry statement, or in any number of certificate(s) or book-entry statement(s) in the name of the Investor or its designee and in such denominations as the Investor may request in such instructions, and such certificate(s) or book-entry statement(s) shall be delivered to the Investor by overnight courier at its address set forth in Section 10.4. Upon issuance, the Initial Commitment Shares and the Initial Purchase Shares shall constitute “restricted securities” as such term is defined in Rule 144(a)(3) under the Securities Act and, subject to the provisions of subsection (iv) of this Section 10.1, each of the certificate(s) or book-entry statement(s) representing the Initial Commitment Shares and the Initial Purchase Shares shall bear the restrictive legend se...