Common use of Purchase and Issuance of the Private Units Clause in Contracts

Purchase and Issuance of the Private Units. (a) Upon the terms and subject to the conditions of this Agreement, the Purchaser hereby agrees to purchase from the Company, and the Company hereby agrees to sell to the Purchaser, on the Closing Date (as defined below) the Initial Units in consideration of the payment of the Initial Purchase Price (as defined below). On the Closing Date, the Company shall, at its option, deliver to the Purchaser the certificates representing the Initial Units purchased or effect such delivery in book-entry form.

Purchase and Issuance of the Private Units. (a) Upon the terms and subject to the conditions of this Agreement, the Purchaser Subscriber hereby agrees to purchase from the Company, and the Company hereby agrees to sell to the PurchaserSubscriber, on the initial Closing Date (as defined below) the Initial Private Units in consideration of the payment of the Initial Purchase Price (as defined below)Price. On the initial Closing Date, the Company shall, at its option, deliver to the Purchaser Subscriber the certificates representing the Initial Units Securities purchased by Subscriber or effect such delivery in book-entry form.