Common use of Put Clause in Contracts

Put. If the registration statement relative to the Securities has not been declared effective within 12 months of the date of this letter agreement, then you may, on 30 days’ notice to the Company, require the Company to repurchase the Securities for a purchase price of $75,000.

Put. If the registration statement relative to the Securities has not been declared effective within 12 months of the date of this letter agreement, then you may, on 30 days’ notice to the Company, require the Company to repurchase the Securities for a purchase price of $75,00048,000.