Purchase of Purchased Shares. Subject to the satisfaction (or waiver) of the conditions set forth in Sections 5 and 6 below, the Company shall issue and sell to the Buyer, and the Buyer agrees to purchase from the Company on the Closing Date (as defined below), 5,660,377 shares of Common Stock (the “Purchased Shares”). The closing of the transactions contemplated herein (the “Closing”) shall occur on the Closing Date at the offices of Xxxxxx, Xxxxx & Xxxxxxx LLP, Xxx Xxxxxx, Xxxxx Xxxxxx Xxxxx, Xxx Xxxxxxxxx, XX 00000-0000.
Purchase of Purchased Shares. (a) Subject to the terms and provisions of this Agreement, the Corporation hereby grants the Subscriber the right (the "Right") to purchase from the Corporation the Purchased Shares. The Right shall be exercised, if at all, on or before the close of business (New York City time) on October 30, 1998 (the "Closing Date") by written notice by the Subscriber to the Corporation stating that the Subscriber is exercising the Right to purchase the Purchased Shares pursuant to this Section 1(a) (which notice may be given by fax as set forth in Section 6(b) hereto) and by delivery of the aggregate Purchase Price for the Purchased Shares as set forth in Section 1(b) below. In the event that the Right is not exercised as aforesaid, the Right shall automatically terminate and shall be of no further force or effect and neither party hereto shall have any rights, entitlements or obligations hereunder.
(b) The purchase price per share for the Purchased Shares to be purchased by the Subscriber shall be the closing bid price per share of Common Stock reported on the Nasdaq Stock Market on the date hereof (the "Purchase Price") and the aggregate Purchase Price for the Purchased Shares shall be payable by the Subscriber by bank wire transfer to an escrow account established by the Corporation with Haytxx & Xurlxx, Xxqs. (Citibank, N.A., 111 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, XXX Xx. 021000000, Xxient Escrow Account No. 37390000) xx by certified or bank cashiers check payable to the Corporation and delivered to the Corporation c/o Haythe & Curlxx, 007 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, Xxtention: Bradxxx X. Xxxt, Esq., in any case on or before the close of business on the Closing Date.
(c) Upon the payment by the Subscriber to the Corporation of the aggregate Purchase Price for the Purchased Shares, the Corporation shall cause its transfer agent to deliver to the Subscriber a stock certificate representing ownership by it of the shares of Common Stock purchased hereunder.
Purchase of Purchased Shares. The Vendor hereby agrees to sell to the Purchaser and the Purchaser hereby agrees to purchase from the Vendor the Purchased Shares for the consideration and upon the terms and conditions hereinafter set forth.
Purchase of Purchased Shares. At the Closing, and on the terms and subject to all of the conditions of this Agreement, Sellers will sell, transfer, assign and convey to Buyer, and Buyer will purchase and accept from Sellers, the Purchased Shares, free and clear of any and all Liens (except for Permitted Liens).
Purchase of Purchased Shares. On the Closing Date (as defined below), the Company shall issue and sell to Investors, and each of the Investors agree to purchase from the Company, the Purchased Shares for an aggregate purchase price of Five Hundred Thousand Dollars ($500,000) (the “Purchase Price”) as set forth on the signature page below. Investors shall pay their allotted portion of the Purchase Price by wire transfer of immediately available funds to the Company, in accordance with the Company’s written wiring instructions, against delivery of the Purchased Shares and the Company shall deliver such Purchased Shares to such Investors, against delivery of such Purchase Price.
Purchase of Purchased Shares. Subject to the provisions of this Agreement, at the Time of Closing the Vendor shall sell, assign, transfer, convey and set over to the Purchaser and the Purchaser shall purchase from the Vendor the Purchased Shares free and clear of all Encumbrances in consideration of the payment by the Purchaser to the Vendor of the Purchase Price, payable as provided for in this Agreement (the “Purchase”).
Purchase of Purchased Shares. At the Closing, upon the terms and ---------------------------- conditions set forth in this Agreement, Buyer shall purchase all, but not less than all, of the Purchased Shares for a total purchase price (the "Purchase -------- Price") equal to Ten Million Dollars ($10,000,000). The Purchase Price shall be ----- paid by wire transfer of immediately available funds to an account designated by the Company in writing.
Purchase of Purchased Shares. Subject to the terms and conditions set forth in this Agreement, at the Closing, in exchange for the Purchase Price, the Company shall issue and sell to Purchaser, and Purchaser shall purchase from the Company, the Purchased Shares.
Purchase of Purchased Shares. Subject to the terms and conditions hereof and based upon the representations and warranties herein contained, the Purchaser agrees to purchase 1,000,000 Common Shares (the "Purchased Shares") from the Vendor and the Vendor agrees to sell, transfer and assign the Purchased Shares to the Purchaser at the Time of Closing.
Purchase of Purchased Shares. Subject to the terms and conditions hereof and based upon the representations and warranties herein contained, at Closing with effect as of the Effective Date, the Vendor agrees to sell, transfer and assign the Purchased Shares to the Purchaser free and clear of all Encumbrances, and the Purchaser agrees to purchase from the Vendor the Purchased Shares free and clear of all Encumbrances, on the basis contemplated in Section 2.4.
