Common use of Standby Purchase Commitment Clause in Contracts

Standby Purchase Commitment. Subject to the terms and conditions of this Agreement, if and to the extent Unsubscribed Shares are not purchased by the Company’s stockholders pursuant to the exercise of Rights in the Rights Offering, each of the Standby Purchasers hereby agrees to purchase from the Company, and the Company hereby agrees to sell to such Standby Purchaser, at the Subscription Price per share, a percentage, as set forth opposite such Standby Purchaser’s name on Schedule I (with respect to each Standby Purchaser, its “Percentage”), the number of Unsubscribed Shares equal to the Backstop Commitment Amount divided by the Subscription Price. Subject to the terms and conditions of this Agreement, each Standby Purchaser affirms its agreement to purchase its Percentage of the Backstop Commitment Amount.

Standby Purchase Commitment. Subject to the terms and conditions of this Agreement, if and to the extent Unsubscribed Shares are not purchased by the Company’s stockholders pursuant to the exercise of Rights in connection with the Rights Offering, each of the Standby Purchasers Purchaser hereby agrees to purchase from the Company, and the Company hereby agrees to sell to such Standby Purchaser, at the Subscription Price per share, a percentage, as set forth opposite such Standby Purchaser’s name on Schedule I Exhibit B (with respect to each Standby Purchaser, its “Percentage”), the number of all such Unsubscribed Shares equal Shares, up to the Backstop Commitment Amount divided full amount of shares of Preferred Stock offered by the Subscription PriceCompany in the Rights Offering (the “Commitment Amount”). Subject to the terms and conditions of this Agreement, each Standby Purchaser affirms its agreement to purchase its Percentage of the Backstop Commitment Amount.