Common use of Standby Purchase Commitment Clause in Contracts

Standby Purchase Commitment. (a) The Standby Purchaser hereby agrees to purchase from the Company, and the Company hereby agrees to sell to the Standby Purchaser, at the Subscription Price, Shares in the Standby Offering up to the Standby Purchase Limit, if and only to the extent that such Shares are available after the exercise of the Subscription Privileges by each Equity Stock holder granted Rights in the Rights Offering (including the KH Basic Rights Purchase). (b) Subject to Sections 3(c) and 6(b), payment shall be made to the Company by the Standby Purchaser, on the Standby Offering Closing Date, against delivery of the Shares purchased by the Standby Purchaser, in United States dollars by means of certified or cashier’s checks, bank drafts, money orders or wire transfers in an amount equal to the Subscription Price multiplied by the number of Shares purchased by the Standby Purchaser pursuant to the Standby Offering (the “Standby Offering Payment”). (c) On the Closing Date of the Standby Purchase, the Company hereby agrees to pay the Standby Purchaser a fee in an amount equal to $40,000 for the Shares purchased by the Standby Purchaser in the Standby Offering (the “Backstop Fee”).

Standby Purchase Commitment. (a) The Standby Purchaser hereby agrees to purchase from the Company, and the Company hereby agrees to sell to the Standby Purchaser, at the Subscription Price, Shares in the Standby Offering up to the Standby Purchase LimitOffering, if and only to the extent that such Shares are available after the exercise expiration of the Subscription Privileges by each Equity Stock holder granted Rights in the Rights Offering (including the KH Basic Rights Purchase). (b) Subject to Sections 3(c) and 6(b), payment shall be made to the Company by the Standby Purchaser, on the Standby Offering Closing Date, against delivery of the Shares purchased by the Standby Purchaser, in United States dollars by means of certified or cashier’s checks, bank drafts, money orders or wire transfers in an amount equal to the Subscription Price multiplied by the number of Shares purchased by the Standby Purchaser pursuant to the Standby Offering (the “Standby Offering Payment”). (c) On the Standby Offering Closing Date of the Standby PurchaseDate, the Company hereby agrees to pay the Standby Purchaser a fee in an amount equal to $40,000 for the Shares purchased by the Standby Purchaser in the Standby Offering 250,000 (the “Backstop Fee”).

Standby Purchase Commitment. (a) The Standby Purchaser hereby agrees to purchase from the Company, and the Company hereby agrees to sell to the Standby Purchaser, at the Subscription Price, Shares in the Standby Offering up to the Standby Purchase LimitOffering, if and only to the extent that such Shares are available after the exercise of the Subscription Privileges by each Equity Stock holder granted Rights Right Holder in the Rights Offering (including the KH Basic Rights Purchase). (b) Subject to Sections 3(c) and pursuant to the procedures set forth in Section 6(b), payment for the Standby Offering shall be made to the Company by the Standby Purchaser, on the Standby Offering Closing Date, against delivery of the Shares purchased by the Standby Purchaser, Purchaser in United States dollars by means of certified or cashier’s checks, bank drafts, money orders or wire transfers in an amount equal to the Subscription Price multiplied by the number of Shares purchased by the Standby Purchaser pursuant to the Standby Offering (the “Standby Offering Payment”). (c) On the Standby Offering Closing Date of the Standby PurchaseDate, the Company hereby agrees to pay the Standby Purchaser a fee in an amount equal to $40,000 for the Shares purchased by the Standby Purchaser in the Standby Offering 1.45 million (the “Backstop Fee”).