Issuance of Securities at the Closing. Upon the terms and subject to the conditions set forth in this Agreement, and in accordance with applicable law, the Company agrees to sell to the Investors, and the Investors agree, severally and not jointly, to purchase from the Company, for a per Unit purchase price of $0.25 (the “Per Unit Purchase Price”), on the Closing Date, the number of Units opposite each Investor’s name on Exhibit A attached hereto, each Unit to consist of (i) one (1) Share and (ii) one-half (1/2) Warrant to purchase one (1) share of Common Stock.
Issuance of Securities at the Closing. Upon the terms and subject to the conditions set forth in this Agreement, and in accordance with applicable law, the Company agrees to issue to the Investor, and the Investor agrees to accept from the Company, a Warrant in the form of Exhibit A to purchase [___,000] shares of Common Stock.
Issuance of Securities at the Closing. The Company will instruct its transfer agent to credit each Purchaser the number of Shares set forth on the Schedule of Purchasers on Exhibit A (and, upon request, will deliver stock certificates to the Purchasers representing the Shares). At the Closing, the Company shall issue or deliver to each Purchaser (a) evidence of a book entry position evidencing the Shares purchased by such Purchaser hereunder, registered in the name of such Purchaser, or in such nominee name(s) as designated by such Purchaser, representing the number of Shares to be purchased by such Purchaser at such Closing as set forth in the Schedule of Purchasers on Exhibit A hereto against payment of the purchase price for such Shares and (b) a Warrant registered in the name of such Purchaser, or in such nominee name(s) as designated by such Purchaser, representing the number of Underlying Shares as set forth in the Schedule of Purchasers on Exhibit A hereto. The name(s) in which the shares and Warrant are to be issued to each Purchaser are set forth in the Schedule of Purchasers.
Issuance of Securities at the Closing. (a) Upon the terms and subject to the conditions set forth in this Agreement, and in accordance with applicable law, the Company agrees to issue to the Investor, and the Investor agrees to accept from the Company, a Warrant in the form of Exhibit A to purchase 600,000 shares of Common Stock.
(b) Notwithstanding any other provision of the Warrant or this Agreement to the contrary, the Investor shall have no right to purchase any Warrant Shares upon exercise of the Warrant unless and until the Company and/or its affiliates have received at least $10 million by June 30, 2013 under accepted and executed contracts or purchase orders from Investor. Investor shall be entitled to exercise warrants to purchase 400,000 shares of Common Stock upon reaching the threshold of $10 million and shall be entitled to exercise warrants to purchase 200,000 additional shares of Common Stock upon reaching the threshold of $15 million. The Company reserves the right to initially accept or reject the individual contracts or purchase orders from Holder which may be applied towards the threshold attainment.
