Common use of Purchases of Additional Preferred Shares Clause in Contracts

Purchases of Additional Preferred Shares. (1) Purchaser, in Purchaser’s sole and absolute discretion, may purchase additional Convertible Preferred Shares, Series B until December 15, 2009 convertible to common shares at the Conversion Price. (2) For each such additional purchase, Company shall deliver to Purchaser: (a) a duly executed share certificate registered in the name of the Purchaser, representing the number of additional Convertible Preferred Shares, Series B being purchased by the Purchaser pursuant to this Agreement; (b) a duly executed counterpart signature page to a cross-receipt (the “Cross-Receipt”) with respect to the Company’s receipt of the Aggregate Purchase Price and the Purchaser’s receipt of the additional Convertible Preferred Shares, Series B. (3) For each purchase of additional Convertible Preferred Shares, Series B, the Purchaser shall deliver to the Company: (a) the Aggregate Purchase Price for the additional Convertible Preferred Shares, Series B being purchased by the Purchaser pursuant to this Agreement; and (b) a duly executed counterpart signature page to the Cross-Receipt.