Common use of National Exchange Listing Clause in Contracts

National Exchange Listing. Within one hundred and twenty (120) days post closing the Company must have sent in the necessary paperwork to apply for a listing on the American Stock Exchange. If within one hundred and twenty (120) days post closing the Company has not sent in the necessary paperwork to the appropriate parties than the Company shall pay to the Investors, pro rata, as liquidated damages and not as a penalty, an amount equal to one percent (1%) of the Purchase Price per month, payable monthly in cash or stock (based on the closing price of this transaction).

National Exchange Listing. Within one hundred and twenty eighty (120180) days post closing the Company must have sent in the necessary paperwork to apply for a listing on the American Stock Exchange. If within one hundred and twenty eighty (120180) days post closing the Company has not sent in the necessary paperwork to the appropriate parties than the Company shall pay to the Investors, pro rata, as liquidated damages and not as a penalty, an amount equal to one percent (1%) of the Purchase Price per month, payable monthly in cash or stock (based on the closing price of this transaction).