Common use of Purchase of Preferred Shares Clause in Contracts

Purchase of Preferred Shares. Subject to satisfaction (or waiver) of the conditions set forth in Sections 6(a) and 7(a) below, the Company shall issue and sell to the Buyers and the Buyers severally shall purchase from the Company an aggregate of 2,000 Initial Preferred Shares, in the respective amounts set forth opposite each Buyer's name on the Schedule of Buyers (the "INITIAL CLOSING"). Subject to the satisfaction (or waiver) of the conditions set forth in Sections 1(c), 6(b) and 7(b) below, at the option of each Buyer, the Company shall issue and sell to each such Buyer and each such Buyer shall purchase from the Company at multiple closings, if applicable, an aggregate of up to that number of Additional Preferred Shares equal to 50% of the number of the Initial Preferred Shares held by such Buyer on the date which is 365 days after the Initial Closing Date (the "ADDITIONAL CLOSING"). Subject to the satisfaction (or waiver) of the conditions set forth in Sections 1(d), 1(e), 6(c) and 7(c) below, the Company may require that each Buyer purchase that number of additional Preferred Shares equal to such Buyer's pro rata portion of up to 1,000 Preferred Shares (based on the number of Initial Preferred Shares each Buyer purchased in relation to the total number of Initial Preferred Shares purchased by the Buyers) (the "PUT CLOSING"). The Initial Closing, the Additional Closing and the Put Closing collectively are referred to in this Agreement as the "CLOSINGS." The purchase price (the "PURCHASE PRICE") of each Preferred Share at each of the Closings shall be $10,000.

Purchase of Preferred Shares. Subject to satisfaction (or ---------------------------- waiver) of the conditions set forth in Sections 6(a) and 7(a) below), the Company shall issue and sell to the Buyers and the Buyers severally shall purchase from the Company an aggregate of 2,000 500 Initial Preferred Shares, in the respective amounts set forth opposite each Buyer's name on the Schedule of Buyers (the "INITIAL CLOSING"). Subject to the satisfaction (or waiver) of the conditions set forth in Sections 1(c), 1(d), 6(b) and 7(b) below, at the option of each Buyer, the Company shall issue and sell to each such Buyer and each such Buyer shall purchase from the Company at multiple closings, if applicable, an aggregate of up to that number of Additional Preferred Shares equal to 50% of the number of the Initial Preferred Shares held by such Buyer on the date which is 365 days after the Initial Closing Date (the "ADDITIONAL CLOSING"). Subject to the satisfaction (or waiver) of the conditions set forth in Sections 1(d), 1(e), 6(c) and 7(c) below, the Company may require that each Buyer purchase purchase, at up to two closings, if applicable, that number of additional Preferred Shares equal to such Buyer's pro rata portion of up to 1,000 an aggregate of 500 Preferred Shares (based on the number of Initial Preferred Shares each Buyer purchased in relation to the total number of Initial Preferred Shares purchased by the Buyers) (the "PUT CLOSINGCLOSINGS"). The Initial Closing, the Additional Closing and the Put Closing Closings collectively are referred to in this Agreement as the "CLOSINGS." The purchase price (the "PURCHASE PRICE") of each Preferred Share at each of the Closings shall be $10,00050,000.

Purchase of Preferred Shares. Subject to satisfaction (or waiver) ---------------------------- of the conditions set forth in Sections 6(a) and 7(a) below, the Company shall issue and sell to the Buyers and the Buyers severally shall purchase from the Company an aggregate of 2,000 500 Initial Preferred Shares, in the respective amounts set forth opposite each Buyer's name on the Schedule of Buyers along with the related Initial Warrants (the "INITIAL CLOSINGInitial Closing"). Subject to the satisfaction (or waiver) of the conditions set forth in Sections 1(c), 6(b) and 7(b) below, the Company shall issue and sell to each Buyer and each Buyer shall purchase from the Company that number of Mandatory Preferred Shares equal to the number of Initial Preferred Shares each Buyer purchased along with the related Mandatory Warrants (the "Mandatory Closing"). Subject to the satisfaction (or waiver) of the conditions set forth in Sections 1(d), 6(c) and 7(c) below, at the option of each Buyer, the Company shall issue and sell to each such Buyer and each such Buyer shall may purchase from the Company at multiple closings, if applicable, an aggregate of up to that number of Additional Preferred Shares equal to 50% of the number of the Initial Preferred Shares held by such Buyer on the date which is 365 days after the Initial Closing Date (the "ADDITIONAL CLOSING"). Subject to the satisfaction (or waiver) of the conditions set forth in Sections 1(d), 1(e), 6(c) and 7(c) below, the Company may require that each Buyer purchase that number of additional Preferred Shares equal to such Buyer's pro rata portion of up to 1,000 Preferred Shares (based on twice the number of Initial Preferred Shares each Buyer purchased in relation to along with the total number of Initial Preferred Shares purchased by related Additional Warrants (the Buyers"Additional Closing") (the "PUT CLOSING"). The Initial Closing, the Additional Mandatory Closing and the Put Additional Closing collectively are referred to in this Agreement as the "CLOSINGS." Closings"). The purchase price (the "PURCHASE PRICEPurchase Price") of each Preferred Share at each of the Closings shall be $10,0001,000.

Purchase of Preferred Shares. Subject to satisfaction (or waiver) of the conditions set forth in Sections 6(a) and 7(a) below, (i) the Company shall issue and sell to the Buyers Subscribers and the Buyers Subscribers severally shall purchase from the Company an aggregate of 2,000 600 Initial Preferred Shares, and (ii) the Company shall deliver to the Subscribers Warrants to purchase the Initial Warrant Shares, each in the respective amounts set forth opposite each BuyerSubscriber's name on the Schedule of Buyers Subscribers (the "INITIAL CLOSING"). Subject to the satisfaction (or waiver) of the conditions set forth in Sections 1(c), 6(b) and 7(b) below, at the option of each Buyer, the Company shall issue and sell to each such Buyer and each such Buyer shall purchase from the Company at multiple closings, if applicable, an aggregate of up to that number of Additional Preferred Shares equal to 50% of the number of the Initial Preferred Shares held by such Buyer on the date which is 365 days after the Initial Closing Date (the "ADDITIONAL CLOSING"). Subject to the satisfaction (or waiver) of the conditions set forth in Sections 1(d), 1(e), 6(c6(b) and 7(c7(b) below, the Company may require that each Buyer Subscriber purchase that number of additional Preferred Shares equal to such Buyer's its pro rata portion of up to 1,000 the Put Preferred Shares (based on the number of Initial Preferred Shares each Buyer Subscriber purchased in relation to the total aggregate number of Initial Preferred Shares purchased by all of the BuyersSubscribers) (the "PUT CLOSING"). The Initial Closing, the Additional Closing and the Put Closing collectively are referred to in this Agreement as the "CLOSINGS." The purchase price (the "PURCHASE PRICE") of each Preferred Share at each of the Closings shall be $10,00010,000.00.

Purchase of Preferred Shares. Subject to the satisfaction (or waiver) of the conditions set forth in Sections 6(a) and 7(a) below, the Company shall issue and sell to the Buyers and the Buyers severally shall purchase from the Company an aggregate of 2,000 300 Initial Preferred Shares, in the respective amounts set forth opposite each Buyer's name on the Schedule of Buyers along with one Warrant for each Preferred Share purchased (the "INITIAL CLOSINGInitial Closing"). Subject to the satisfaction (or waiver) of the conditions set forth in Sections 1(c), 6(b) and 7(b) below, at the option of each Buyer, the Company shall issue and sell to each such Buyer and each such Buyer shall purchase from the Company at multiple closings, if applicableCompany, an aggregate of up to that number of 100 Additional Preferred Shares equal to 50% of Shares, along with the number of the Initial Preferred Shares held by such Buyer on the date which is 365 days after the Initial Closing Date (the "ADDITIONAL CLOSING"). Subject to the satisfaction (or waiver) of the conditions set forth in Sections 1(d)related Warrants, 1(e), 6(c) and 7(c) below, the Company may require that each Buyer purchase that number of additional Preferred Shares equal to such Buyer's pro rata portion of up to 1,000 Preferred Shares (based on the number of Initial Preferred Shares each Buyer purchased in relation to the total number of Initial Preferred Shares purchased by the Buyers) (the "PUT CLOSINGAdditional Closing"). The Initial Closing, the Additional Closing and the Put Additional Closing collectively are referred to in this Agreement as the "CLOSINGSClosings." The purchase price (the "PURCHASE PRICEPurchase Price") of each Preferred Share and the related Warrant at each of the Closings shall be $10,000.