Common use of Sale and Purchase of Common Stock Clause in Contracts

Sale and Purchase of Common Stock. Subject to the terms and conditions hereof, the Company agrees to sell to the Investor and the Investor agrees to purchase from the Company on the Closing Date, a number of shares of Common Stock (the "Shares") determined by dividing $250,000 by 75% of the Average Closing Price of the Common Stock (as hereinafter defined) for an aggregate cash purchase price of $250,000. The Average Closing Price of the Common Stock shall mean the average of the daily Closing Prices (as hereinafter defined) of the Common Stock on the ten consecutive trading days ending on and including July 14, 1999. The Closing Price shall mean the last recorded sale price of the Common Stock or, if no such reported sale takes place on such day, the average of the reported closing bid and asked price of the Common Stock, as reported on the American Stock Exchange.

Sale and Purchase of Common Stock. Subject to the terms and conditions hereof, the Company agrees to sell to the Investor and the Investor agrees to purchase from the Company on the Closing Date, a number of shares of Common Stock (the "Shares") determined by dividing $250,000 1,500,000 by 75% of the Average Closing Price of the Common Stock (as hereinafter defined) for an aggregate cash purchase price of $250,0001,500,000. The Average Closing Price of the Common Stock shall mean the average of the daily Closing Prices (as hereinafter defined) of the Common Stock on the ten consecutive trading days ending on and including July 14April 8, 1999. The Closing Price shall mean the last recorded sale price of the Common Stock or, if no such reported sale takes place on such day, the average of the reported closing bid and asked price of the Common Stock, as reported on the American Stock Exchange.

Sale and Purchase of Common Stock. Subject to the terms and conditions hereof, the Company agrees to sell to the Investor and the Investor agrees to purchase from the Company on the Closing Date, a number of shares of Common Stock (the "Shares") determined by dividing $250,000 by 75% of the Average Closing Price of the Common Stock (as hereinafter defined) for an aggregate cash purchase price of $250,000. The Average Closing Price of the Common Stock shall mean the average of the daily Closing Prices (as hereinafter defined) of the Common Stock on the ten consecutive trading days ending on and including July 14February 4, 19992000. The Closing Price shall mean the last recorded sale price of the Common Stock or, if no such reported sale takes place on such day, the average of the reported closing bid and asked price of the Common Stock, as reported on the American Stock Exchange.

Sale and Purchase of Common Stock. Subject to the terms and conditions hereof, the Company agrees to sell to the Investor and the Investor agrees to purchase from the Company on the Closing Date, a number of shares of Common Stock (the "Shares") determined by dividing $250,000 by 75% of the Average Closing Price of the Common Stock (as hereinafter defined) for an aggregate cash purchase price of $250,000. The Average Closing Price of the Common Stock shall mean the average of the daily Closing Prices (as hereinafter defined) of the Common Stock on the ten consecutive trading days ending on and including July 14February 2, 19992000. The Closing Price shall mean the last recorded sale price of the Common Stock or, if no such reported sale takes place on such day, the average of the reported closing bid and asked price of the Common Stock, as reported on the American Stock Exchange.