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

Purchase and Issuance of the Units. (a) Upon the terms and subject to the conditions of this Agreement, the Subscriber hereby agrees to purchase from the Company, and the Company hereby agrees to sell to the Subscriber, simultaneously with the closing of the IPO (the “Initial Closing Date”), 327,500 Units for a purchase price of $3,275,000 (the “Purchase Price”), consisting of: (i) a cash payment of Purchase Price less the amount of the Advanced Expenses, and (ii) the repayment of the Advanced Expenses. (b) Simultaneously with the consummation of the closing of the underwriters’ over-allotment option in connection with the IPO (the “Over-Allotment Option”) or on such earlier time and date as may be mutually agreed by the Subscriber and the Company (each such date, an “Over-allotment Closing Date,” and each Over-allotment Closing Date (if any) and the Initial Closing Date being sometimes referred to herein as a “Closing Date”), the Company shall issue and sell to the Subscriber, and the Subscriber shall purchase from the Company, an aggregate of up to 22,500 Units at a price of $10.00 per Unit for an aggregate purchase price of up to $225,000 (if the Over- Allotment Option is exercised in full) (the “Over-allotment Purchase Price”) such that the gross proceeds of such purchase will be no less than the amount of underwriting commissions due in connection with the Over-Allotment Option (excluding any deferred portion). Purchaser shall pay the Over-allotment Purchase Price by wire transfer of immediately available funds to the Trust Account (as defined below) maintained by Continental (as defined below) at least one (1) business day prior to the Over-allotment Closing Date.

Appears in 2 contracts

Samples: Private Placement Units Subscription Agreement (Global Lights Acquisition Corp), Private Placement Units Subscription Agreement (Miao Zhizhuang)

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Purchase and Issuance of the Units. (a) Upon For the aggregate sum of $4,600,000 (the “Initial Purchase Price”), upon the terms and subject to the conditions of this Agreement, the Subscriber Purchaser hereby agrees to purchase from the Company, and the Company hereby agrees to sell to the SubscriberPurchaser, simultaneously with on the closing of the IPO Closing Date (as defined in Section 1.2) (the “Initial Closing DateOffering), 327,500 ) 460,000 Units for a purchase price of at $3,275,000 10.00 per Unit (the “Purchase PriceInitial Units”), consisting of: (i) a cash payment of Purchase Price less the amount of the Advanced Expenses, and (ii) the repayment of the Advanced Expenses. (b) Simultaneously with Additionally, if the consummation of underwriter in the closing of the underwriters’ IPO exercises its over-allotment option in connection with full or part, the IPO undersigned further agrees to purchase (the “Over-Allotment OptionOverallotment Purchase”) or on such earlier time and date as may be mutually agreed by the Subscriber and the Company (each such date, an “Over-allotment Closing Date,” and each Over-allotment Closing Date (if any) and the Initial Closing Date being sometimes referred to herein as a “Closing Date”), the Company shall issue and sell to the Subscriber, and the Subscriber shall purchase from the Company, an aggregate of up to 22,500 an additional 45,000 Units (“Additional Units”) at a price of $10.00 per Unit unit for an aggregate purchase price of up to $225,000 (if the Over- Allotment Option is exercised in full) 450,000 (the “Over-allotment Allotment Purchase Price” and together with the Initial Purchase Price, the “Purchase Price”). The parties may also mutually agree to close on the Overallotment Purchase if the underwriters do not exercise their IPO over-allotment option on such date and time, and in such amounts, as the parties mutually agree. (c) such The undersigned agrees that if the gross proceeds size of such purchase will be no less than the IPO is increased or decreased for any reason, the amount of underwriting commissions due the Purchaser’s investment will be either increased or decreased, as applicable, so that the Purchaser’s percentage of the aggregate investment in connection with Units made by the Over-Allotment Option (excluding any deferred portion)Purchaser and other investors of the Company remains the same. Purchaser shall pay If the Over-allotment size of the offering is increased, the undersigned agrees that it will deliver the purchase price for such additional securities to CST as set forth in Section 1.3 below or as promptly as is reasonably practicable following the increase. If the size of the offering is decreased, the unused portion of the Purchase Price by wire transfer of immediately available funds shall be returned to the Trust Account (as defined below) maintained by Continental (as defined below) at least one (1) business day prior to the Over-allotment Closing Dateundersigned.

Appears in 2 contracts

Samples: Unit Subscription Agreement (HNR Acquisition Corp.), Unit Subscription Agreement (HNR Acquisition Corp.)

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Purchase and Issuance of the Units. (a) Upon For the aggregate sum of $4,600,000 (the “Initial Purchase Price”), upon the terms and subject to the conditions of this Agreement, the Subscriber Purchaser hereby agrees to purchase from the Company, and the Company hereby agrees to sell to the SubscriberPurchaser, simultaneously with on the closing of the IPO Closing Date (as defined in Section 1.2) (the “Initial Closing DateOffering), 327,500 ) 460,000 Units for a purchase price of at $3,275,000 10.00 per Unit (the “Purchase PriceInitial Units”), consisting of: (i) a cash payment of Purchase Price less the amount of the Advanced Expenses, and (ii) the repayment of the Advanced Expenses. (b) Simultaneously with Additionally, if the consummation of underwriter in the closing of the underwriters’ IPO exercises its over-allotment option in connection with full or part, the IPO undersigned further agrees to purchase (the “Over-Allotment OptionOverallotment Purchase”) or on such earlier time and date as may be mutually agreed by the Subscriber and the Company (each such date, an “Over-allotment Closing Date,” and each Over-allotment Closing Date (if any) and the Initial Closing Date being sometimes referred to herein as a “Closing Date”), the Company shall issue and sell to the Subscriber, and the Subscriber shall purchase from the Company, an aggregate of up to 22,500 an additional 40,000 Units (“Additional Units”) at a price of $10.00 per Unit unit for an aggregate purchase price of up to $225,000 (if the Over- Allotment Option is exercised in full) 400,000 (the “Over-allotment Allotment Purchase Price” and together with the Initial Purchase Price, the “Purchase Price”). The parties may also mutually agree to close on the Overallotment Purchase if the underwriters do not exercise their IPO over-allotment option on such date and time, and in such amounts, as the parties mutually agree. (c) such The undersigned agrees that if the gross proceeds size of such purchase will be no less than the IPO is increased or decreased for any reason, the amount of underwriting commissions due the Purchaser’s investment will be either increased or decreased, as applicable, so that the Purchaser’s percentage of the aggregate investment in connection with Units made by the Over-Allotment Option (excluding any deferred portion)Purchaser and other investors of the Company remains the same. Purchaser shall pay If the Over-allotment size of the offering is increased, the undersigned agrees that it will deliver the purchase price for such additional securities to CST as set forth in Section 1.3 below or as promptly as is reasonably practicable following the increase. If the size of the offering is decreased, the unused portion of the Purchase Price by wire transfer of immediately available funds shall be returned to the Trust Account (as defined below) maintained by Continental (as defined below) at least one (1) business day prior to the Over-allotment Closing Dateundersigned.

Appears in 1 contract

Samples: Unit Subscription Agreement (HNR Acquisition Corp.)

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