Common use of Payment for Purchase Shares Clause in Contracts

Payment for Purchase Shares. For each Regular Purchase, the Buyer shall pay to the Company an amount equal to the Purchase Amount minus any amounts or credits whatsoever due to Buyer, as full payment for such Purchase Shares via wire transfer of immediately available funds on or before the fourth Business Day following delivery of the Purchase Shares to Buyer. For each Additional Purchase, the Buyer shall pay to the Company an amount equal to the Additional Purchase Amount minus any amounts or credits whatsoever due to Buyer, as full payment for such Additional Purchase Shares via wire transfer of immediately available funds on or before the fourth Business Day following the delivery of Additional Purchase Shares to Buyer. All payments made under this Agreement shall be made in lawful money of the United States of America via wire transfer of immediately available funds to such account as the Company may from time to time designate by written notice in accordance with the provisions of this Agreement. Whenever any amount expressed to be due by the terms of this Agreement is due on any day that is not a Business Day, the same shall instead be due on the next succeeding day that is a Business Day. Failure to deliver the Purchase Shares or Additional Purchase Shares within three Business Days of the Purchase Date or Additional Purchase Date, the Company will pay Buyer as liquidated damages, and not as a penalty, five percent (5%) of the value of the Common Stock based on the closing bid price of the Common stock for each such day until the Shares are delivered to Buyer.

Appears in 2 contracts

Samples: Common Stock Purchase Agreement (Immune Pharmaceuticals Inc), Common Stock Purchase Agreement (Immune Pharmaceuticals Inc)

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Payment for Purchase Shares. For each Regular Purchase, the Buyer Investor shall pay to the Company an amount equal to the Purchase Amount minus any amounts or credits whatsoever due with respect to Buyersuch Regular Purchase as full payment for such Purchase Shares via wire transfer of immediately available funds on the same Business Day that the Investor receives such Purchase Shares, if such Purchase Shares are received by the Investor before 1:00 p.m., Eastern time, or, if such Purchase Shares are received by the Investor after 1:00 p.m., Eastern time, the next Business Day. For each Accelerated Purchase and each Additional Accelerated Purchase, the Investor shall pay to the Company an amount equal to the Purchase Amount with respect to such Accelerated Purchase and Additional Accelerated Purchase, respectively, as full payment for such Purchase Shares via wire transfer of immediately available funds on or before the fourth Business Day following delivery of the Purchase Shares to Buyer. For each Additional Purchase, the Buyer shall pay to the Company an amount equal to the Additional Purchase Amount minus any amounts or credits whatsoever due to Buyer, as full payment for such Additional Purchase Shares via wire transfer of immediately available funds on or before the fourth third Business Day following the delivery date that the Investor receives such Purchase Shares. The Company shall not issue any fraction of a share of Common Stock upon any Regular Purchase, Accelerated Purchase or Additional Purchase Shares Accelerated Purchase. If the issuance would result in the issuance of a fraction of a share of Common Stock, the Company shall round such fraction of a share of Common Stock up or down to Buyerthe nearest whole share. All payments made under this Agreement shall be made in lawful money of the United States of America via or wire transfer of immediately available funds to such account as the Company may from time to time designate by written notice in accordance with the provisions of this Agreement. Whenever any amount expressed to be due by the terms of this Agreement is due on any day that is not a Business Day, the same shall instead be due on the next succeeding day that is a Business Day. Failure to deliver the Purchase Shares or Additional Purchase Shares within three Business Days of the Purchase Date or Additional Purchase Date, the Company will pay Buyer as liquidated damages, and not as a penalty, five percent (5%) of the value of the Common Stock based on the closing bid price of the Common stock for each such day until the Shares are delivered to Buyer.

Appears in 2 contracts

Samples: Purchase Agreement (Anavex Life Sciences Corp.), Purchase Agreement (Anavex Life Sciences Corp.)

Payment for Purchase Shares. The Investor shall pay to the Company the Initial Purchase Price via wire transfer of immediately available funds on the same Business Day that the Investor receives the Initial Purchase Shares as DWAC Shares, if such Initial Purchase Shares are so received by the Investor before 1:00 p.m., Eastern time, or, if such Initial Purchase Shares are so received by the Investor after 1:00 p.m., Eastern time, the next Business Day. For each Regular Purchase, the Buyer Investor shall pay to the Company an amount equal to the Purchase Amount minus any amounts or credits whatsoever due with respect to Buyer, such Regular Purchase as full payment for such Purchase Shares via wire transfer of immediately available funds on or before the fourth same Business Day following delivery of that the Investor receives such Purchase Shares to Buyerif they are received by the Investor before 1:00 p.m., Eastern time, or if received by the Investor after 1:00 p.m., Eastern time, the next Business Day. For each Additional Accelerated Purchase, the Buyer Investor shall pay to the Company an amount equal to the Additional Purchase Amount minus any amounts or credits whatsoever due with respect to Buyer, such Accelerated Purchase as full payment for such Additional Purchase Shares via wire transfer of immediately available funds on or before the fourth third Business Day following the delivery date that the Investor receives such Purchase Shares. The Company shall not issue any fraction of Additional a share of Common Stock upon the Initial Purchase Shares or any Regular Purchase or Accelerated Purchase. If the issuance would result in the issuance of a fraction of a share of Common Stock, the Company shall round such fraction of a share of Common Stock up or down to Buyerthe nearest whole share. All payments made under this Agreement shall be made in lawful money of the United States of America via or wire transfer of immediately available funds to such account as the Company may from time to time designate by written notice in accordance with the provisions of this Agreement. Whenever any amount expressed to be due by the terms of this Agreement is due on any day that is not a Business Day, the same shall instead be due on the next succeeding day that is a Business Day. Failure to deliver the Purchase Shares or Additional Purchase Shares within three Business Days of the Purchase Date or Additional Purchase Date, the Company will pay Buyer as liquidated damages, and not as a penalty, five percent (5%) of the value of the Common Stock based on the closing bid price of the Common stock for each such day until the Shares are delivered to Buyer.

Appears in 1 contract

Samples: Purchase Agreement (Anthera Pharmaceuticals Inc)

Payment for Purchase Shares. For each Regular Purchase, the Buyer shall pay to the Company an amount equal to the Purchase Amount minus any amounts or credits whatsoever due to Buyer, as full payment for such Purchase Shares via wire transfer of immediately available funds on or before the fourth Business Day following delivery of the Purchase Shares to Buyer. For each Additional Purchase, the Buyer shall pay to the Company an amount equal to the Additional Purchase Amount minus any amounts or credits whatsoever due to Buyer, as full payment for such Additional Purchase Shares via wire transfer of immediately available funds on or before the fourth Business Day following the delivery of Additional Purchase Shares to Buyer. All payments made under this Agreement shall be made in lawful money of the United States of America via wire transfer of immediately available funds to such account as the Company may from time to time designate by written notice in accordance with the provisions of this Agreement. Whenever any amount expressed to be due by the terms of this Agreement is due on any day that is not a Business Day, the same shall instead be due on the next succeeding day that is a Business Day. Failure to deliver the Purchase Shares or Additional Purchase Shares within three Business Days of the Purchase Date or Additional Purchase Date, the Company will pay Buyer as liquidated damages, and not as a penalty, an amount in cash equal to five percent (5%) of the value of the Common Stock Purchase Shares or Additional Purchase Shares, as the case may be, based on the closing bid price Closing Bid Price of the Common stock for each such day until the Purchase Shares or Additional Purchase Shares, as the case may be, are delivered to Buyer.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Immune Pharmaceuticals Inc)

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Payment for Purchase Shares. For On or prior to each Regular PurchaseClosing Date, the Buyer Company shall deliver to the Investor all of the documents required to be delivered pursuant to Section 8 of this Agreement. On the Settlement Date, the Company the Company shall use its commercially reasonable efforts to cause the Transfer Agent to electronically transmit, prior to the applicable Settlement Date, the applicable Purchase Shares by crediting the account of the Investor's prime broker with DTC through its Deposit Withdrawal Agent Commission ("DWAC") system, and provide proof satisfactory to the Investor of such delivery and the Investor shall pay to the escrow agent for delivery to the Company an amount equal to the Draw Down Amount with respect to such Purchase Amount minus any amounts or credits whatsoever due to Buyer, Shares as full payment for such Purchase Shares via wire transfer of immediately available funds on or before the fourth Business Day following delivery within twenty-four (24) hours of evidence of credit to its account of the Purchase Shares to BuyerShares. For each Additional PurchaseIf the issuance would result in the issuance of a fraction of a share of Common Stock, the Buyer Company shall pay round such fraction of a share of Common Stock up or down to the Company an amount equal to the Additional Purchase Amount minus any amounts or credits whatsoever due to Buyer, as full payment for such Additional Purchase Shares via wire transfer of immediately available funds on or before the fourth Business Day following the delivery of Additional Purchase Shares to Buyernearest whole share. All payments made under this Agreement shall be made in lawful money of the United States of America via or wire transfer of immediately available funds to such account as the Company may from time to time designate by written notice in accordance with the provisions of this Agreement. Whenever any amount expressed to be due by the terms of this Agreement is due on any day that is not a Business Trading Day, the same shall instead be due on the next succeeding day that is a Business Trading Day. Failure In addition, on or prior to deliver the Purchase Shares or Additional Purchase Shares within three Business Days each Closing Date, each of the Purchase Date Company and Investor shall deliver to each other all documents, instruments and writings required to be delivered or Additional Purchase Date, reasonably requested by either of them pursuant to this Agreement in order to implement and effect the Company will pay Buyer as liquidated damages, and not as a penalty, five percent (5%) of the value of the Common Stock based on the closing bid price of the Common stock for each such day until the Shares are delivered to Buyertransactions contemplated herein.

Appears in 1 contract

Samples: Purchase Agreement (Sauer Energy, Inc.)

Payment for Purchase Shares. For each Regular Purchase, the Buyer Investor shall pay to the Company an amount equal to the Purchase Amount minus any amounts or credits whatsoever due with respect to Buyer, such Regular Purchase as full payment for such Purchase Shares via wire transfer of immediately available funds on or before the fourth same Business Day following delivery of that the Investor receives such Purchase Shares to Buyerif they are received by the Investor before 1:00 p.m., Eastern time, or if received by the Investor after 1:00 p.m., Eastern time, the next Business Day. For each Additional Accelerated Purchase, the Buyer Investor shall pay to the Company an amount equal to the Additional Purchase Amount minus any amounts or credits whatsoever due with respect to Buyer, such Accelerated Purchase as full payment for such Additional Purchase Shares via wire transfer of immediately available funds on or before the fourth third Business Day following the delivery date that the Investor receives such Purchase Shares. The Company shall not issue any fraction of Additional a share of Common Stock upon any Regular Purchase Shares or Accelerated Purchase. If the issuance would result in the issuance of a fraction of a share of Common Stock, the Company shall round such fraction of a share of Common Stock up or down to Buyerthe nearest whole share. All payments made under this Agreement shall be made in lawful money of the United States of America via or wire transfer of immediately available funds to such account as the Company may from time to time designate by written notice in accordance with the provisions of this Agreement. Whenever any amount expressed to be due by the terms of this Agreement is due on any day that is not a Business Day, the same shall instead be due on the next succeeding day that is a Business Day. Failure to deliver the Purchase Shares or Additional Purchase Shares within three Business Days of the Purchase Date or Additional Purchase Date, the Company will pay Buyer as liquidated damages, and not as a penalty, five percent (5%) of the value of the Common Stock based on the closing bid price of the Common stock for each such day until the Shares are delivered to Buyer.

Appears in 1 contract

Samples: Purchase Agreement (Anthera Pharmaceuticals Inc)

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