Purchase and Sale of Tokens Clause Samples
The "Purchase and Sale of Tokens" clause defines the terms under which tokens are bought and sold between parties, typically in the context of a blockchain or cryptocurrency transaction. It outlines the process for purchasing tokens, including payment methods, pricing, and delivery of tokens to the buyer’s digital wallet. This clause ensures both parties understand their obligations and the mechanics of the transaction, thereby reducing the risk of disputes and providing a clear framework for the exchange of digital assets.
Purchase and Sale of Tokens. 2.1. On or before the Payment Date, Purchaser will transfer the Purchase Amount by (a) wire transfer of funds to Company’s bank account, (b) transfer to Company’s Wallet Address, or (c) any other way agreed upon by the parties in writing.
2.2. On or before the Initial Token Launch and subject to the receipt by Company of the Purchase Amount, Company will transfer Purchaser’s Tokens to Purchaser’s Wallet Address.
2.3. If the Initial Token Launch has not occurred within 12 months from the Effective Date (the “Long Stop Date”), Purchaser shall have the option to terminate this Agreement and receive the Purchase Amount within 30 days after the Long Stop Date.
Purchase and Sale of Tokens. 2.1. The Buyer may request to buy a Tranche by sending the Seller a Tranche Notice. A Tranche Notice will be considered delivered under this Agreement with immediate effect when the Buyer and Seller have both agreed in writing to a Completed Schedule reflecting that Tranche Notice, as evidenced by their dual execution thereon (at such time, “Delivered”).
2.2. The Pricing Period begins with immediate effect once the applicable Tranche Notice is Delivered. Notwithstanding the foregoing, (a) the Pricing Period can begin any time that is mutually agreed to by the Buyer and Seller in writing, and (b) Tranche Requests in the form of Schedule C will not automatically begin a Pricing Period and will instead settle based on the relevant Tranche Purchase Price.
2.3. Within seventy-two (72) hours of either (a) the end of a Pricing Period or (b) if applicable, the date of a Delivered Schedule C Tranche Notice, the Buyer shall transfer, or cause the transfer of, the Tranche Purchase Value to the Seller provided there has been no Hacker Event during the Pricing Period. Notwithstanding anything herein to the contrary, the Buyer may, in lieu of transferring the Tranche Purchase Value, elect to reduce the Lent Token Amount, and such reduction shall be deemed to satisfy Buyer’s obligations pursuant to this Clause 2.3.
2.4. Once a Tranche Purchase Value has been transferred to the Seller in accordance with Clause 2.3, the Seller will be obligated to the Buyer for the Tranche Purchase Amount (the “Obligation”).
2.5. The Seller must transfer or cause to be transferred the Tranche Purchase Amount to the Buyer’s Wallet within 24 hours. Once the Buyer has received the Tranche Purchase Amount, and the Buyer has confirmed the same to the Seller in writing, the Obligation shall be considered “Settled” under this Agreement. The Obligation constitutes Tokens sold and bought under this Agreement.
2.6. For any Tranche where the Parties have agreed in writing to apply a Premium and corresponding Settlement Flexibility, the Seller shall have the right to determine the actual Tranche Purchase Value within the Settlement Flexibility range. This amount shall be selected by the Seller following the determination of the Requested Tranche Purchase Value and shall be paid within the timeframe set forth in this Agreement. For the avoidance of doubt, the Tranche Purchase Amount shall be calculated based on the final Tranche Purchase Value as determined in accordance with any agreed Settlement Flex...
Purchase and Sale of Tokens. The Euro standard price per Token during the Sale Period is 1 Euro (the “Standard Price Per Token”).
Purchase and Sale of Tokens