Common use of Purchase of Tokens Clause in Contracts

Purchase of Tokens. On or about December 1, 2017, in accordance with the Token Purchase Agreement, the Partnership will remit to the Seller an amount in cash equal to 20% of the total Capital Contributions of the Limited Partners as a non-refundable advance on the Milestone Tokens to be sold by the Seller to the Partnership for distribution to the Limited Partners upon the satisfaction of the requirements set forth herein and in the Token Purchase Agreement. If the LP Advisory Committee determines that Blockstack has achieved the First Milestone on the First Evaluation Date, no later than 30 days after the First Evaluation Date the Partnership will transfer to the Seller cash in an amount equal to 40% of the aggregate Capital Contributions of the Limited Partners in exchange for the Milestone Tokens pursuant to and in accordance with the Token Purchase Agreement. If the LP Advisory Committee determines that the Network has achieved the Second Milestone on the Second Milestone Date, the Partnership will transfer to the Seller the balance of the amount due to the Seller as determined in accordance with the terms of the Token Purchase Agreement. For purposes of determining the number of Tokens that will be purchased by the Partnership from the Seller pursuant to this Section 2.8, the Tokens shall be valued in accordance with the Valuation Amount.