Initial Purchase of Common Stock Sample Clauses
Initial Purchase of Common Stock. Upon the satisfaction of the conditions set forth in Sections 7 and 8 hereof (the “Commencement” and the date of satisfaction of such conditions the “Commencement Date”), the Investor shall purchase 3,510,527 Purchase Shares at an aggregate purchase price of $1,999,999.89 (such purchase the “Initial Purchase” and such Purchase Shares, the “Initial Purchase Shares”).
Initial Purchase of Common Stock. Subject to the satisfaction of all of the conditions set forth in Sections 7 and 8 hereof (the “Commencement” and the date of satisfaction of such conditions the “Commencement Date”), at any time within 30 days of the Commencement Date, the Company shall have the right, but not the obligation, to direct the Investor by the Company’s delivery to the Investor of the Initial Purchase Notice, and the Investor thereupon shall have the obligation, to buy the Initial Purchase Amount of Initial Purchase Shares as specified by the Company therein at the Initial Purchase Price (such purchase, the “Initial Purchase”); provided, however, that (i) the Company may not deliver to the Investor more than one (1) Initial Purchase Notice pursuant to this Agreement, (ii) the Company may not deliver the Initial Purchase Notice for an Initial Purchase Amount in excess of 325,000 Initial Purchase Shares (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction after the date of this Agreement), and (iv) the Investor’s total committed obligation under the Initial Purchase shall not exceed Two Million Seven Hundred Eighty Eight Thousand Five Hundred Dollars ($2,788,500). If the Company delivers the Initial Purchase Notice for an Initial Purchase Amount in excess of the limitations contained in this Section 2(a), such Initial Purchase Notice shall be void ab initio to the extent of the amount by which the number of Initial Purchase Shares set forth in such Initial Purchase Notice exceeds the number of Initial Purchase Shares which the Company is permitted to include in such Initial Purchase Notice in accordance herewith, and the Investor shall have no obligation to purchase such excess Initial Purchase Shares in respect of such Initial Purchase Notice; provided that the Investor shall remain obligated to purchase the number of Initial Purchase Shares which the Company is permitted to include in such Initial Purchase Notice.
Initial Purchase of Common Stock. Subject to the terms and conditions of this Agreement, and in reliance on the representations and warranties contained in this Agreement, the Company agrees to sell to P&U and P&U agrees to purchase from the Company, at the Initial Closing (as defined below), for a per share price of $1.8256 and aggregate consideration of two million dollars ($2,000,000), 1,095,506 shares of Common Stock.
Initial Purchase of Common Stock. On the date hereof the Investor shall purchase 367,647 Purchase Shares at a purchase price of $1.36 per share (such purchase the “Initial Purchase” and such Purchase Shares, the “Initial Purchase Shares”).
Initial Purchase of Common Stock. On the First Closing Date, the Company shall use the Members' First Capital Contributions to purchase shares of Common Stock as set forth in the Purchase Agreement.
Initial Purchase of Common Stock. Upon the satisfaction of the conditions set forth in Sections 7 and 8 hereof (the “Commencement” and the date of satisfaction of such conditions the “Commencement Date”), the Company shall sell, and the Investor shall purchase, a number of Purchase Shares equal to Three Million Dollars ($3,000,000) divided by the Purchase Price, calculated as of the effective date of the Registration Statement (such purchase, the “Initial Purchase” and such Purchase Shares, the “Initial Purchase Shares”).
Initial Purchase of Common Stock. Subject to the satisfaction (or waiver) of the conditions set forth in Sections 7 and 8 below, the Company shall issue and sell to the Buyers and the Buyers shall purchase from the Company an aggregate of not less than $5 million and not more than $10 million of Common Stock (the "Initial Purchase Price") in the respective amounts as are set forth opposite each Buyer's name on the Schedule of Buyers at an initial closing (the "Initial Closing"). The per share purchase price (the "Purchase Price") of the Common Stock shall be $3.00. On the Initial Closing Date (as defined below) the Company shall deliver to each Buyer a stock certificate representing the number of shares which such Buyer is then purchasing (as indicated opposite such Buyer's name on the Schedule of Buyers), duly executed on behalf of the Company and registered in the name of such Buyer or its designee (the "Stock Certificates").
Initial Purchase of Common Stock. Upon the execution of this Agreement, the Company shall sell to the Investor and the Investor shall purchase from the Company $1,000,000 worth of Purchase Shares (such purchase the "Initial Purchase" and such Purchase Shares are referred to herein as "Initial Purchase Shares”) and warrants in the form of Exhibit F attached hereto to purchase shares of Common Stock equivalent to 40% of the Initial Purchase Shares (the "Warrants" and the shares of Common Stock underlying such Warrants, the "Warrant Shares"), at a purchase price per share of the Initial Purchase Shares equal to the Signing Market Price. The Warrants shall have a term of five (5) years and an exercise price equal to the Signing Market Price per Warrant Share. Upon receipt of such Initial Purchase Shares and Warrants, the Investor shall pay to the Company as the purchase price for such Initial Purchase Shares and Warrants, the sum of $1,000,000 via wire transfer.