Common use of Pre-Closing Share Credit Clause in Contracts

Pre-Closing Share Credit. Within three (3) business days after the Advance Notice Date, the Company shall deliver share certificates of the Company's Common Stock to the Investor in an amount equal to the amount of the requested Advance divided by the closing Bid Price of the Company's Common Stock as of the Advance Notice Date multiplied by one point one (1.1). Any adjustments to the number of shares to be delivered to the Investor at the Closing as a result of fluctuations in the closing Bid Price of the Company's Common Stock shall be made as of the date of the Closing. Any excess shares shall be credited to the next Advance. In no event shall the number of shares issuable to the Investor pursuant to an Advance cause the Investor to own in excess of nine and nine tenths percent (9.9%) of the then outstanding Common Stock of the Company.

Appears in 2 contracts

Samples: Equity Line of Credit Agreement (Smartire Systems Inc), Equity Line of Credit Agreement (Smartire Systems Inc)

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Pre-Closing Share Credit. Within three two (32) business days after the Advance Notice Date, the Company shall deliver share certificates cause its transfer agent to issue shares of the Company's Common Stock to the Investor in an amount equal to the amount of the requested Advance divided by the closing Bid Price of the Company's Common Stock as of the Advance Notice Date multiplied by one point one (1.11. 1). Any adjustments to the number of shares to be delivered to the Investor at the Closing as a result of fluctuations in the closing Bid Price of the Company's Common Stock shall be made as of the date of the Closing. Any excess shares shall be credited to the next Advance. In no event shall the number of shares issuable to the Investor pursuant to an Advance cause the Investor to own in excess of nine and nine tenths 9/10 percent (9.9%) of the then outstanding Common Stock of the Company.

Appears in 2 contracts

Samples: Equity Line of Credit Agreement (Ivoice Com Inc /De), Equity Line of Credit Agreement (Ivoice Com Inc /De)

Pre-Closing Share Credit. Within three two (32) business days after the Advance Notice Date, the Company shall deliver share certificates to the Investor shares of the Company's ’s Common Stock to the Investor Stock, via physical stock certificate, in an amount equal to the amount of the requested Advance divided by the closing Bid Price of the Company's ’s Common Stock as of the Advance Notice Date multiplied by one point one (1.1). Any adjustments to the number of shares to be delivered to the Investor at the Closing as a result of fluctuations in the closing Bid Price of the Company's ’s Common Stock shall be made as of the date of the Closing. Any excess shares shall be credited to the next Advance. In no event shall the number of shares issuable to the Investor pursuant to an Advance cause the Investor to own in excess of nine and nine tenths 9/10 percent (9.9%) of the then outstanding Common Stock of the Company.

Appears in 1 contract

Samples: Standby Equity Distribution Agreement (Stock Market Solutions Inc)

Pre-Closing Share Credit. Within three two (32) business days after the Advance Notice Date, the Company shall deliver share certificates credit shares of the Company's ’s Common Stock to the Investor Investor’s account with Jantaq INC, in an amount equal to the amount of the requested Advance divided by the closing Bid Price VWAP of the Company's ’s Common Stock as of the Advance Notice Date [multiplied by one point one (1.1)]. Any adjustments to the number of shares to be delivered to the Investor at the Closing as a result of fluctuations in the closing Bid Price of the Company's ’s Common Stock shall be made as of the date of the Closing. Any excess shares shall be credited to the next Advance. In no event shall the number of shares issuable to the Investor pursuant to an Advance cause the Investor to own in excess of exceed nine and nine tenths 9/10 percent (9.9%) of the then outstanding Common Stock of the Company.

Appears in 1 contract

Samples: Equity Line of Credit Agreement (Cardinal Communications, Inc)

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Pre-Closing Share Credit. Within three four (34) business days after the Advance Notice Date, the Company shall deliver share certificates issue shares of the Company's Common Stock to the Investor Investor's Counsel's , in an amount equal to the amount of the requested Advance divided by the closing Bid Price of the Company's Common Stock as of the Advance Notice Date multiplied by one point one (1.11. 1). Any adjustments to the number of shares to be delivered to the Investor at the Closing as a result of fluctuations in the closing Bid Price of the Company's Common Stock shall be made as of the date of the Closing. Any excess shares shall be credited to the next Advance. In no event shall the number of shares issuable to the Investor pursuant to an Advance cause the Investor to own in excess of nine and nine tenths 9/10 percent (9.9%) of the then outstanding Common Stock of the Company.

Appears in 1 contract

Samples: Standby Equity Distribution Agreement (Smartire Systems Inc)

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