Minimum Commitment Amount. During the Commitment Period, the Company shall make Draw Downs of at least $250,000, in the aggregate, pursuant to this Agreement. In the event that the Company fails to make Draw Downs of at least $250,000, in the aggregate, during the Commitment Period, the Company shall pay the Purchaser, as liquidated damages, within five (5) days from the end of the Commitment Period, an amount equal to $250,000 minus the aggregate Purchase Price of all Draw Downs.
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Samples: Common Stock Purchase Agreement (Emagin Corp), Common Stock Purchase Agreement (Lumenon Innovative Lightwave Technology Inc)
Minimum Commitment Amount. During the Commitment Period, the Company shall make Draw Downs of at least five hundred thousand dollars ($250,000500,000), in the aggregate, pursuant to this Agreement. In the event that the Company fails to make Draw Downs of at least five hundred thousand dollars ($250,000500,000), in the aggregate, during the Commitment Period, the Company shall pay the Purchaser, as liquidated damages, within five (5) days from the end of the Commitment Period, an amount equal to based on the following formula: $250,000 minus the aggregate Purchase Price of all - [(Aggregate Draw Downs.Downs x $250,000)/$500,000]
Appears in 2 contracts
Samples: Common Stock Purchase Agreement (GTC Telecom Corp), Common Stock Purchase Agreement (Artificial Life Inc)
Minimum Commitment Amount. During the Commitment Period, the Company shall make Draw Downs of at least $250,000500,000, in the aggregate, pursuant to this Agreement. In the event that the Company fails to make Draw Downs of at least $250,000500,000, in the aggregate, during the Commitment Period, the Company shall pay the Purchaser, as liquidated damages, within five (5) days from the end of the Commitment Period, an amount equal to $250,000 minus 500,000 less the aggregate Purchase Price of all Draw Downs.
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