Common use of Purchase and Sale of New Class B Preferred at Closing Clause in Contracts

Purchase and Sale of New Class B Preferred at Closing. Subject to the terms and conditions of this Agreement, at the Closing, the Company shall issue and sell to each of the Investors, and each of the Investors shall, severally and not jointly and severally, purchase from the Company, that number of shares of the New B-1 Series of New Class B Preferred set forth opposite the name of such Investor on Schedule 3.1 attached hereto for the purchase price set forth opposite that Investor’s name on Schedule 3.1. An aggregate of Forty Thousand Four Hundred Seventy Three (40,473) shares of the New B-1 Series of New Class B Preferred (collectively, the “Closing Shares”) shall be issued to the Investors at the Closing for an aggregate purchase price of Four Million Eight Hundred Ten Thousand One Hundred Eighteen and 60/100 Dollars ($4,810,118.60) (the “Closing Purchase Price”). No Investor shall be liable for the failure of any other Investor to comply with its purchase obligations under this Section 3.1.

Purchase and Sale of New Class B Preferred at Closing. Subject to the terms and conditions of this Agreement, at the Closing, the Company shall issue and sell to each of the Investors, and each of the Investors shall, severally and not jointly and severally, purchase from the Company, that number of shares of the New B-1 B-6 Series of New Class B Preferred set forth opposite the name of such Investor on Schedule 3.1 2.1 attached hereto for the purchase price set forth opposite that Investor’s name on Schedule 3.12.1. An aggregate of Forty Twenty-Four Thousand Four Hundred Seventy Three (40,47324,000) shares of the New B-1 B-6 Series of New Class B Preferred (collectively, the “Closing Shares”) shall be issued to the Investors at the Closing for an aggregate purchase price of Four Three Million Eight Hundred Ten Thousand One Hundred Eighteen and 60/100 00/100 Dollars ($4,810,118.603,000,000.00) (the “Closing Purchase Price”). No Investor shall be liable for the failure of any other Investor to comply with its purchase obligations under this Section 3.12.1.