Initial Sale and Issuance of Shares Sample Clauses

Initial Sale and Issuance of Shares. Subject to the terms and conditions of this Agreement, the Subscriber agrees to purchase at the Initial Closing and the Company agrees to sell and issue to the Subscriber at the Initial Closing, One Million Seven Hundred Thousand (1,700,000) shares of the Ordinary Common Stock (the "Initial Shares") at a purchase price of $16.00 per share or $27,200,000 in the aggregate (the "Initial Payment"). The purchase and sale of the Initial Shares shall take place at the offices of Milbank, Tweed, Hadley & McCloy LLP, 601 S. Figueroa Street, Los Angeles, CA 90017 a▇ ▇▇:▇0 a.▇., ▇n Nove▇▇▇▇ ▇, ▇▇▇▇ (▇he "Initial Closing Date"), or at such other time and place as the Company and the Subscriber mutually agree upon orally or in writing (which time and place are designated as the "Initial Closing").