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 severally, but not jointly with any other Buyer, agrees to purchase from the Company on the Closing Date (as defined below), the number of Purchased Shares as is set forth below such Buyer's name on the signature page hereto (the "Closing"). The Closing shall occur on the Closing Date at the offices of Xxxxxxx Xxxx & Xxxxx LLP, 000 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000.
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. 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. 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, 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 Fifteen Million Dollars ($15,000,000). 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. 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. (a) Subject to the terms and provisions of this Agreement, the Subscriber agrees to purchase from the Corporation, and the Corporation agrees to issue to the Subscriber, a number of Purchased Shares determined by dividing the Purchase Commitment, as adjusted as provided in this Section 1, by the Purchase Price.
(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"). The aggregate Purchase Commitment shall be payable by the Subscriber by bank wire transfer to an 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 Closing Date.
(c) Upon the payment by the Subscriber to the Corporation of the aggregate Purchase Commitment for the Purchased Shares on the Closing Date, 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. (a) Subject to the terms and provisions of this Agreement, the Subscriber agrees to purchase from the Corporation, and the Corporation agrees to issue to the Subscriber, a number of Purchased Shares determined by dividing the Purchase Commitment, as adjusted as provided in this Section 1, by the Purchase Price. It is understood and agreed by the Corporation and the Subscriber that the initial Purchase Commitment set forth opposite the Subscriber's name on the signature page hereof automatically shall be reduced, if at all, but not below $0, by an amount equal to the aggregate Committed Amount (as defined below). For purposes hereof, "Committed Amount" shall mean the aggregate dollar value (determined at the Purchase Price) of shares of Common Stock purchased from the Corporation on or before the close of business on October 30, 1998 (the "Closing Date") by purchasers (other than the Subscriber and other than Luis X. Xxxxxx) xxich have received the Corporation's Confidential Memorandum dated October 1998 covering the private placement of $3.5 million in aggregate value of shares of Common Stock.
Purchase of Purchased Shares. (a) Subject to the terms and provisions of this Agreement, the Subscriber agrees to purchase from the Corporation, and the Corporation agrees to issue to the Subscriber, the Purchased Shares as provided below.
(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 shall be payable by reducing by $100,000 the amount of fees otherwise payable to the Subscriber by the Corporation for legal services rendered during the month of October 1998, which purchase shall occur on October 30, 1998 (the "Closing Date").
(c) Upon the payment by the Subscriber to the Corporation of the aggregate Purchase Price for the Purchased Shares on the Closing Date, 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.
