Common use of Returnable Shares Clause in Contracts

Returnable Shares. In addition to the Commitment Shares, the Company shall issue 1,500,000 shares of its common stock to the Buyer, to be held in book entry (the “Returnable Shares”). The Returnable Shares must be returned to the Company by the Buyer, unless the Note enters into and uncured default during its 12-month term and the Note is repaid on or prior to maturity.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Kisses From Italy Inc.), Securities Purchase Agreement (Kisses From Italy Inc.)

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Returnable Shares. In addition to the Commitment Shares, the Company shall issue 1,500,000 to Buyer 200,000 shares of its common stock to the Buyer, to be held in book entry (the “Returnable Shares”). The Returnable Shares must shall be returned to the Company by the Buyer, unless if the Company makes the timely payments set forth in the Note enters into and uncured default during its 12-to the Buyer every month term and beginning on the Note is repaid on or prior to maturity5th monthly anniversary of the Note.

Appears in 1 contract

Samples: Securities Purchase Agreement (Mphase Technologies Inc)

Returnable Shares. In addition to the Commitment Shares, the Company shall issue 1,500,000 to Buyer, 1,000,000 shares of its common stock to the Buyer, to be held in book entry (the “Returnable Shares”). The Returnable Shares must shall be returned to the Company by the Buyer, unless if the Company makes the timely payments set forth in the Note enters into and uncured default during its 12-to the Buyer every month term and beginning on the Note is repaid on or prior to maturity5th monthly anniversary of the Note. The Returnable Shares shall be held in book entry format.

Appears in 1 contract

Samples: Securities Purchase Agreement (Digital Development Partners, Inc.)

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Returnable Shares. In addition to the Commitment Shares, the Company shall issue 1,500,000 to Buyer, 200,000 shares of its common stock to the Buyer, to be held in book entry (the “Returnable Shares”). The Returnable Shares must shall be returned to the Company by the Buyer, unless if the Company makes the timely payments set forth in the Note enters into and uncured default during its 12-to the Buyer every month term and beginning on the Note is repaid on or prior to maturity5th monthly anniversary of the Note.

Appears in 1 contract

Samples: Securities Purchase Agreement (Verus International, Inc.)

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