Common use of OPTION TO INCREASE INVESTMENT AMOUNT Clause in Contracts

OPTION TO INCREASE INVESTMENT AMOUNT. At any time before the end of the Commitment Period, the Company shall have the right, but not the obligation, to increase the Investment Amount to an amount not to exceed $10,000,000 in the aggregate by providing written notice of the Company’s election to increase the Investment Amount, which shall include the amount of the increase and the revised aggregate Investment Amount, to the Investor by email and by overnight courier at its address set forth in Section 10.16. Such increase in Investment Amount shall become effective upon the Company’s issuance and delivery to Investor of additional Commitment Shares pursuant to Section 6.4.

Appears in 2 contracts

Samples: Purchase Agreement (Adial Pharmaceuticals, Inc.), Purchase Agreement (NeuBase Therapeutics, Inc.)

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OPTION TO INCREASE INVESTMENT AMOUNT. At any time before the end of the Commitment Period, the Company shall have the right, but not the obligation, to increase the Investment Amount to an amount not to exceed $10,000,000 in the aggregate by providing written notice of the Company’s election to increase the Investment Amount, which shall include the amount of the increase (an “Additional Investment Amount”) and the revised aggregate Investment Amount, to the Investor by email and by overnight courier at its email address set forth in Section 10.16. Such increase in Investment Amount shall become effective upon the Company’s issuance and delivery to Investor of additional Additional Commitment Shares pursuant to Section 6.4.

Appears in 1 contract

Samples: Purchase Agreement (Motorsport Games Inc.)

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OPTION TO INCREASE INVESTMENT AMOUNT. At any time before the end of the Commitment Period, the Company shall have the right, but not the obligation, to may request a one-time increase in the Investment Amount to an amount not to exceed $10,000,000 in the aggregate by providing written notice of the Company’s election desire to increase the Investment Amount, which shall include the amount of the increase and the revised aggregate Investment Amount, to the Investor by email and by overnight courier at its address set forth in Section 10.16. Such increase in Investment Amount shall become effective upon solely upon (a) the Investor’s written consent delivered to the Company accepting such increase and then (b) the Company’s issuance and delivery to Investor of additional the Increase Commitment Shares pursuant to Section 6.4.

Appears in 1 contract

Samples: Purchase Agreement (Adial Pharmaceuticals, Inc.)

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