Common use of Subscription for and Purchase of the Common Shares Clause in Contracts

Subscription for and Purchase of the Common Shares. 1.1. Subject to the express terms and conditions of this Agreement, the Subscriber hereby irrevocably subscribes for and agrees to purchase the Common Shares (the “Purchase”) in the amount of the purchase price (the “Purchase Price”) set forth in the Investor Questionnaire. 1.2. The Subscriber must initially purchase at least the minimum number of Common Shares established by the Company pursuant to the process specified in the Offering Circular. If the Subscriber has satisfied the applicable minimum purchase requirement, any additional purchase must be in amounts of at least $10 (or the then current offering price per share of the Common Shares). 1.3. Once a Subscriber makes a commitment to purchase Common Shares, the commitment is revocable until the $1,000,000 minimum threshold is met, after which time the commitment is irrevocable until the Common Shares are issued, the Purchase is rejected by the Manager, or the Manager otherwise determines not to consummate the transaction. 1.4. The Company or the Manager, acting on behalf of the Company, has the right to reject the Subscriber’s subscription in whole or in part for any reason. Once the Subscriber’s subscription is accepted by the Manager, the Subscriber may not cancel, terminate or revoke the Subscriber’s subscription or this Agreement, each of which, in the case of an individual, shall survive his death or disability and shall be binding upon the Subscriber, his heirs, trustees, beneficiaries, executors, personal or legal administrators or representatives, successors, transferees and assigns. 1.5. The Subscriber understands that the Purchase Price is payable upon the Company’s acceptance of the Subscriber’s subscription and the Company’s execution of this Agreement. 1.6. If this Agreement is accepted by the Company, the Subscriber agrees to comply fully with the terms of the Subscriber Agreements. The Subscriber further agrees to execute any other necessary documents or instruments in connection with this subscription and the Subscriber’s purchase of the Common Shares. 1.7. If this Agreement is accepted by the Company, the Subscriber hereby authorizes the Company to withdraw the Subscriber’s funds from the Subscriber’s account at the institution provided by the Subscriber on the Investor Questionnaire using an electronic fund transfer through the Automated Clearing House. 1.8. If, after the Agreement is accepted by the Company, the execution of the Purchase fails for any reason, including but not limited to failure with an Automated Clearing House electronic funds transfer from the Subscriber’s bank account listed on the Investor Questionnaire, the Company has the right to reject the subscription or require the Subscriber to pay to the Company an amount of funds equal to the Purchase Price. 1.9. In the event that this Agreement is rejected in full or the offering is terminated, any payment made by the Subscriber to the Company for the Common Shares will be refunded to the Subscriber without interest and without deduction, and all of the obligations of the Subscriber hereunder shall terminate. To the extent that this Agreement is rejected in part, the Company shall refund to the Subscriber any payment made by the Subscriber to the Company with respect to the rejected portion of this subscription without interest and without deduction, and all of the obligations of Subscriber hereunder shall remain in full force and effect except for those obligations with respect to the rejected portion of this subscription, which shall terminate. 1.10. In the event that Subscriber is making a subsequent investment in the Company, Subscriber hereby represents and warrants that any information previously provided on Subscriber’s most recently submitted Investor Questionnaire remains accurate and complete and agrees to update the Manager in the event that any information requested on the Company’s charter becomes inaccurate or incomplete. 1.11. The Subscriber and the Company understand and agree that the Common Shares subscribed for hereunder have been duly authorized by the Company and, upon issuance and delivery against payment therefor in accordance with the Company’s charter and this Agreement, such Common Shares will be validly issued, fully paid and nonassessable.

Appears in 2 contracts

Samples: Subscription Agreement, Subscription Agreement (MogulREIT II, Inc.)

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Subscription for and Purchase of the Common Shares. 1.1. Subject to the express terms and conditions of this Agreement, the Subscriber hereby irrevocably subscribes for and agrees to purchase the Common Shares (the “Purchase”) in the amount of the purchase price (the “Purchase Price”) set forth in the Investor Questionnaire. 1.2. The Subscriber must initially purchase at least the minimum number of Common Shares established by the Company pursuant to the process specified in the Offering Circular. If the Subscriber has satisfied the applicable minimum purchase requirement, any additional purchase must be in amounts of at least $10 (or the then current offering price per share net asset value of the Company’s Common Shares). 1.3. Once a Subscriber makes a commitment to purchase Common Shares, the commitment is revocable until the $1,000,000 minimum threshold is met, after which time the commitment is irrevocable until the Common Shares are issued, the Purchase is rejected by the Manager, or the Manager otherwise determines not to consummate the transaction. 1.4. The Company or the Manager, acting on behalf of the Company, has the right to reject the Subscriber’s subscription this Agreement in whole or in part for any reason. Once the Subscriber’s subscription Agreement is accepted by the Manager, the Subscriber may not cancel, terminate or revoke the Subscriber’s subscription or this Agreement, each of which, in the case of an individual, shall survive his death or disability and shall be binding upon the Subscriber, his heirs, trustees, beneficiaries, executors, personal or legal administrators or representatives, successors, transferees and assigns. 1.5. The Subscriber understands that the Purchase Price is payable upon the CompanyManager’s acceptance of the Subscriber’s subscription and the Company’s execution of this Agreement. 1.6. If this Agreement is accepted by the Company, the Subscriber agrees to comply fully with the terms of the Subscriber Agreements. The Subscriber further agrees to execute any other necessary documents or instruments in connection with this subscription and the Subscriber’s purchase of the Common Shares. 1.7. If this Agreement is accepted by the Company, the Subscriber hereby authorizes the Company Manager to withdraw the Subscriber’s funds from the Subscriber’s account at the institution provided by the Subscriber on the Investor Questionnaire using an electronic fund transfer through the Automated Clearing House. 1.8. If, after the Agreement is accepted by the Company, the execution of the Purchase fails for any reason, including but not limited to failure with an Automated Clearing House electronic funds transfer from the Subscriber’s bank account listed on the Investor Questionnaire, the Company has the right to reject the subscription or require the Subscriber to pay to provide the Company Manager an amount of funds equal to the Purchase Price. 1.90.0. In Xx the event that this Agreement is rejected in full or the offering is terminated, any payment made by the Subscriber to the Company for the Common Shares will be refunded to the Subscriber without interest and without deduction, and all of the obligations of the Subscriber hereunder shall terminate. To the extent that this Agreement is rejected in part, the Company Manager shall refund to the Subscriber any payment made by the Subscriber to the Company with respect to the rejected portion of this subscription without interest and without deduction, and all of the obligations of Subscriber hereunder shall remain in full force and effect except for those obligations with respect to the rejected portion of this subscription, which shall terminate. 1.100.00. In Xx the event that Subscriber is making a subsequent investment in the Company, Subscriber hereby represents and warrants that any information previously provided on Subscriber’s most recently submitted Investor Questionnaire remains accurate and complete and agrees to update the Manager in the event that any information requested on the Company’s charter Investor Questionnaire becomes inaccurate or incomplete. 1.11. The Subscriber and the Company understand and agree that the Common Shares subscribed for hereunder have been duly authorized by the Company and, upon issuance and delivery against payment therefor in accordance with the Company’s charter Operating Agreement and this Agreement, such Common Shares will be validly issued, fully paid and nonassessable.

Appears in 1 contract

Samples: Subscription Agreement (MogulREIT I, LLC)

Subscription for and Purchase of the Common Shares. 1.1. Subject to the express terms and conditions of this Agreement, the Subscriber hereby irrevocably subscribes for and agrees to purchase the Common Shares (the “Purchase”) in the amount of the purchase price (the “Purchase Price”) set forth in the Investor Questionnaire. 1.2. The Subscriber must initially purchase at least the minimum number of Common Shares established by the Company pursuant to the process specified in the Offering Circular. If the Subscriber has satisfied the applicable minimum purchase requirement, any additional purchase must be in amounts of at least $10 (or the then current offering price per share of the Common Shares). 1.3. Once a Subscriber makes a commitment to purchase Common Shares, the commitment is revocable until the $1,000,000 minimum threshold is met, after which time the commitment is irrevocable until the Common Shares are issued, the Purchase is rejected by the Manager, or the Manager otherwise determines not to consummate the transaction. 1.4. The Company or the Manager, acting on behalf of the Company, has the right to reject the Subscriber’s subscription in whole or in part for any reason. Once the Subscriber’s subscription is accepted by the Manager, the Subscriber may not cancel, terminate or revoke the Subscriber’s subscription or this Agreement, each of which, in the case of an individual, shall survive his death or disability and shall be binding upon the Subscriber, his heirs, trustees, beneficiaries, executors, personal or legal administrators or representatives, successors, transferees and assigns. 1.5. The Subscriber understands that the Purchase Price is payable upon the Company’s acceptance of the Subscriber’s subscription and the Company’s execution of this Agreement. 1.6. If this Agreement is accepted by the Company, the Subscriber agrees to comply fully with the terms of the Subscriber Agreements. The Subscriber further agrees to execute any other necessary documents or instruments in connection with this subscription and the Subscriber’s purchase of the Common Shares. 1.7. If this Agreement is accepted by the Company, the Subscriber hereby authorizes the Company to withdraw the Subscriber’s funds from the Subscriber’s account at the institution provided by the Subscriber on the Investor Questionnaire using an electronic fund transfer through the Automated Clearing House. 1.8. If, after the Agreement is accepted by the Company, the execution of the Purchase fails for any reason, including but not limited to failure with an Automated Clearing House electronic funds transfer from the Subscriber’s bank account listed on the Investor Questionnaire, the Company has the right to reject the subscription or require the Subscriber to pay to the Company an amount of funds equal to the Purchase Price. 1.9. In the event that this Agreement is rejected in full or the offering is terminated, any payment made by the Subscriber to the Company for the Common Shares will be refunded to the Subscriber without interest and without deduction, and all of the obligations of the Subscriber hereunder shall terminate. To the extent that this Agreement is rejected in part, the Company shall refund to the Subscriber any payment made by the Subscriber to the Company with respect to the rejected portion of this subscription without interest and without deduction, and all of the obligations of Subscriber hereunder shall remain in full force and effect except for those obligations with respect to the rejected portion of this subscription, which shall terminate. 1.10. In the event that Subscriber is making a subsequent investment in the Company, Subscriber hereby represents and warrants that any information previously provided on Subscriber’s most recently submitted Investor Questionnaire remains accurate and complete and agrees to update the Manager in the event that any information requested on the Company’s charter becomes inaccurate or incomplete. 1.11. The Subscriber and the Company understand and agree that the Common Shares subscribed for hereunder have been duly authorized by the Company and, upon issuance and delivery against payment therefor in accordance with the Company’s charter and this Agreement, such Common Shares will be validly issued, fully paid and nonassessable.

Appears in 1 contract

Samples: Subscription Agreement (MogulREIT II, Inc.)

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Subscription for and Purchase of the Common Shares. 1.1. Subject to the express terms and conditions of this Agreement, the Subscriber hereby irrevocably subscribes for and agrees to purchase the Common Shares (the “Purchase”) in the amount of the purchase price (the “Purchase Price”) set forth in the Investor Questionnaire. 1.2. The Subscriber must initially purchase at least the minimum number of Common Shares established by the Company pursuant to the process specified in the Offering Circular. If the Subscriber has satisfied the applicable minimum purchase requirement, any additional purchase must be in amounts of at least $10 (or the then current offering price per share net asset value of the Company’s Common Shares). 1.3. Once a Subscriber makes a commitment to purchase Common Shares, the commitment is revocable until the $1,000,000 minimum threshold is met, after which time the commitment is irrevocable until the Common Shares are issued, the Purchase is rejected by the Manager, or the Manager otherwise determines not to consummate the transaction. 1.4. The Company or the Manager, acting on behalf of the Company, has the right to reject the Subscriber’s subscription this Agreement in whole or in part for any reason. Once the Subscriber’s subscription Agreement is accepted by the Manager, the Subscriber may not cancel, terminate or revoke the Subscriber’s subscription or this Agreement, each of which, in the case of an individual, shall survive his death or disability and shall be binding upon the Subscriber, his heirs, trustees, beneficiaries, executors, personal or legal administrators or representatives, successors, transferees and assigns. 1.5. The Subscriber understands that the Purchase Price is payable upon the CompanyManager’s acceptance of the Subscriber’s subscription and the Company’s execution of this Agreement. 1.6. If this Agreement is accepted by the Company, the Subscriber agrees to comply fully with the terms of the Subscriber Agreements. The Subscriber further agrees to execute any other necessary documents or instruments in connection with this subscription and the Subscriber’s purchase of the Common Shares. 1.7. If this Agreement is accepted by the Company, the Subscriber hereby authorizes the Company Manager to withdraw the Subscriber’s funds from the Subscriber’s account at the institution provided by the Subscriber on the Investor Questionnaire using an electronic fund transfer through the Automated Clearing House. 1.8. If, after the Agreement is accepted by the Company, the execution of the Purchase fails for any reason, including but not limited to failure with an Automated Clearing House electronic funds transfer from the Subscriber’s bank account listed on the Investor Questionnaire, the Company has the right to reject the subscription or require the Subscriber to pay to provide the Company Manager an amount of funds equal to the Purchase Price. 1.9. In the event that this Agreement is rejected in full or the offering is terminated, any payment made by the Subscriber to the Company for the Common Shares will be refunded to the Subscriber without interest and without deduction, and all of the obligations of the Subscriber hereunder shall terminate. To the extent that this Agreement is rejected in part, the Company Manager shall refund to the Subscriber any payment made by the Subscriber to the Company with respect to the rejected portion of this subscription without interest and without deduction, and all of the obligations of Subscriber hereunder shall remain in full force and effect except for those obligations with respect to the rejected portion of this subscription, which shall terminate. 1.10. In the event that Subscriber is making a subsequent investment in the Company, Subscriber hereby represents and warrants that any information previously provided on Subscriber’s most recently submitted Investor Questionnaire remains accurate and complete and agrees to update the Manager in the event that any information requested on the Company’s charter Investor Questionnaire becomes inaccurate or incomplete. 1.11. The Subscriber and the Company understand and agree that the Common Shares subscribed for hereunder have been duly authorized by the Company and, upon issuance and delivery against payment therefor in accordance with the Company’s charter Operating Agreement and this Agreement, such Common Shares will be validly issued, fully paid and nonassessable.

Appears in 1 contract

Samples: Subscription Agreement

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