Purchase of Series B Shares. On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees to purchase from the Company 203,000 Series B Shares with the rights and preferences as set forth in the Rights and Preferences.
Purchase of Series B Shares. Beckxxx xxxees to and shall, concurrently with the signing of this Agreement, sell and deliver to Sepracor and Sepracor agrees to and shall, purchase and take from Beckxxx 000,500 shares of Series B Redeemable Exchangeable Preferred Stock of Sepracor Inc. Beckxxx xxxll deliver the certificate evidencing its ownership of such shares to Sepracor, upon the signing of this Agreement. Sepracor shall, concurrently with the delivery of such shares, pay to Beckxxx, xx wire transfer of immediately available funds, the sum of Six Million Eight Hundred Fifty Thousand Dollars ($6,850,000) by no later than March 27, 1998, and (b) in the event *********************** as that term is defined ************************ at any time ******************** after the signing of this Agreement, ************* which ************************************ on the effective date ****************.
Purchase of Series B Shares. Subject to the satisfaction (or waiver) of the conditions set forth in Section 6 below, the Company shall issue and sell to each Buyer, and each Buyer severally, but not jointly, shall purchase from the Company on each Closing Date (as defined below), the number of Series B Shares as is set forth opposite such Buyer’s name on the respective Buyer’s signature page. Each Buyer introduced to the Company by the Placement Agent shall (and any Buyer that was not introduced to the Company by the Placement Agent shall) deliver on or before the applicable Closing the Purchase Price in full to Delaware Trust Company (the “Escrow Agent”) by check to the address listed below or via wire transfer of immediately available funds pursuant to the wire instructions below, unless other provisions have been agreed upon with the Buyer. Each Buyer understands that the applicable Purchase Price (defined below) will be held in escrow until the applicable Closing on the Series B Shares (as such terms are defined below) has occurred, and that such amount will be returned to such Buyer, without interest, if (i) the closing of a Minimum Offering does not occur on or before February 29, 2016, which date may be extended to April 15, 2016, in the discretion of the Company, (ii) such Buyer’s purchase is rejected by the Company in whole or in part, (iii) such Buyer revokes such purchase prior to the Closing Date, (iv) the Company terminates the offering of the Series B Shares, or (v) a court of competent jurisdiction issues a final and non-appealable judgment, order, decree or award ordering the escrow agent to deliver the Purchase Price. Address for Payment by Check: Delaware Trust Company 2000 Xxxxxxxxxxx Xxxx Xxx Xxxxxx Xxxxx Centre Wxxxxxxxxx, XX 00000 Attention: Axxx X. Xxxxxxx Reference: Atrinsic, Inc. Escrow #79-2579 [Insert Name of Buyer] Wire Instructions: PNC Bank 300 Xxxxxxxx Xxxxxx Xxxxxxxxxx XX 00000 ABA# 000000000 SWIFT Code: PXXXXX00 Account Name: Delaware Trust Company Account Number: 5605012373 Reference: Atrinsic, Inc. Escrow #79-2579 [Insert Name of Buyer]
