Common use of SALE TO COMPANY OF CONVERSION Clause in Contracts

SALE TO COMPANY OF CONVERSION. SHARES AND WARRANTS AT CLOSING TIME OF UNDERWRITTEN OFFERING 3.1 Sale of Conversion Shares at the Closing Time of the Underwritten Offering. Provided that the Net Price Per Share to be paid to the Holder by the Company at the Closing Time of the Underwritten Offering is not less than $0.75 per share (before reflecting stock splits, divisions, reverse stock splits or share combinations), the Holder agrees to sell to the Company the Holder's Conversion Shares and the Company agrees to purchase at the Closing Time all the Holder's Conversion Shares out of the Net Proceeds of the Underwritten Offering and in accordance with Article I hereof. The Holder agrees to accept the Net Price Per Share determined as provided in paragraph 2.5 hereof for Holder's Conversion Shares, provided that the Net Price Per Share is not less than $0.75 per share (before reflecting stock splits, divisions, reverse stock splits or share combinations).