Common use of Partial Release of Shares Clause in Contracts

Partial Release of Shares. After Investor has received a Put Notice, but prior to the related Closing Date, the Investor, may authorize the Escrow Agent to release, every five (5) Trading Days, a portion of the Purchase Amount from escrow to the Company in exchange for a fixed number of Shares, subject to the following conditions: (i) The Investor shall fill out and sign a Partial Release of Purchase Amount and Shares (the "Partial Release Form"). The Partial Release Form shall set forth the number of Shares to be released to Investor and the dollar amount the Escrow Agent shall wire to the Company. (ii) The Partial Release Form shall be filled out and signed by the appropriate Investor and faxed to the Company prior to 12:00 p.m. New York City time. The number of Shares stated in the Partial Release Form shall be equal to the dollar amount to be released divided by 93% of the lowest closing bid price during the first five (5) Trading Days of the Pricing Period. The Company and Investor agree that on the related Closing Date, an adjustment shall be made so that the terms set forth in the Investment Agreement shall be honored with the balance of the Purchase Amount being released to the Company and the balance of the Shares owed to Investor being released to Investor.

Partial Release of Shares. After Investor has received a Put Notice, but prior to the related Closing Date, the Investor, Investor may authorize the Escrow Agent Company to release, every five (5) Trading Days, a portion of the Purchase Amount from escrow to the Company in exchange for a fixed number of Shares, subject to the following conditions: (i) The Investor shall fill out and sign a Partial Release of Purchase Amount and Shares (the "Partial Release Form"). The Partial Release Form shall set forth the number of Shares to be released to Investor and the dollar amount the Escrow Agent Investor shall wire to the Company. (ii) The Partial Release Form shall be filled out and signed by the appropriate Investor and faxed to the Company prior to 12:00 p.m. New York City time. The number of Shares stated in the Partial Release Form shall be equal to the dollar amount to be released divided by 9394% (ninety-four percent) of the lowest closing best bid price during the first five (5) that number of Trading Days of the Pricing PeriodPeriod that have expired. The Company and Investor agree that on the related Closing Date, an adjustment shall be made so that the terms set forth in the Investment this Agreement shall be honored with the balance of the Purchase Amount being released to the Company and the balance of the Shares owed to the Investor being released to Investor.

Partial Release of Shares. After Investor has received a Put Notice, but prior to the related Closing Date, the Investor, Investor may authorize the Escrow Agent to release, every five (5) Trading Days, a portion of the Purchase Amount from escrow to the Company in exchange for a fixed number of Shares, subject to the following conditions: (i) The Investor shall fill out and sign a Partial Release of Purchase Amount and Shares (the "Partial Release Form"). The Partial Release Form shall set forth the number of Shares to be released to Investor and the dollar amount the Escrow Agent shall wire to the Company. (ii) The Partial Release Form shall be filled out and signed by the appropriate Investor and faxed to the Company prior to 12:00 p.m. New York City time. The number of Shares stated in the Partial Release Form shall be equal to the dollar amount to be released divided by 9392% of the lowest closing bid price during the first five (5) that number of Trading Days of the Pricing PeriodPeriod that have expired. The Company and Investor agree that on the related Closing Date, an adjustment shall be made so that the terms set forth in the Investment this Agreement shall be honored with the balance of the Purchase Amount being released to the Company and the balance of the Shares owed to the Investor being released to Investor.

Partial Release of Shares. After Investor has received a Put Notice, but prior to the related Closing Date, the Investor, Investor may authorize the Escrow Agent Investor to release, every five (5) Trading Days, a portion of the Purchase Amount from escrow the investor to the Company in exchange for a fixed number of Shares, subject to the following conditions: (i) The Investor shall fill out and sign a Partial Release of Purchase Amount and Shares (the "Partial Release Form"). The Partial Release Form shall set forth the number of Shares to be released to Investor and the dollar amount the Escrow Agent Investor shall wire to the Company. (ii) The Partial Release Form shall be filled out and signed by the appropriate Investor and faxed to the Company prior to 12:00 p.m. New York City time. The number of Shares stated in the Partial Release Form shall be equal to the dollar amount to be released divided by 9392% (ninety-two percent) of the lowest closing bid price during the first five (5) that number of Trading Days of the Pricing PeriodPeriod that have expired. The Company and Investor agree that on the related Closing Date, an adjustment shall be made so that the terms set forth in the Investment this Agreement shall be honored with the balance of the Purchase Amount being released to the Company and the balance of the Shares owed to the Investor being released to Investor.