Common use of Subscription for Securities Clause in Contracts

Subscription for Securities. (a) Upon execution and delivery of this Agreement, and subject to the terms and conditions hereof, including the satisfaction of the conditions described in subsection (b) below, the Company shall deliver the original executed Note and the certificates for the Shares to the Subscriber, each registered in the name of the Subscriber, against receipt of an amount equal to the principal amount of the Note for which the Subscriber is subscribing. (b) Subscriber's obligation to purchase the Note and the Shares is subject to the fulfillment (or written waiver by the Placement Agent) of each of the following conditions: (i) The representations and warranties of the Company contained in this Agreement shall be true and correct on and as of the date of such purchase; (ii) The Company shall have performed and complied with all covenants, conditions and agreements required by this Agreement to be performed or complied with by them on or prior to the date of such purchase; (iii) There shall be in effect no injunction, writ, preliminary restraining order or any order of any nature directing that the transactions contemplated by this Agreement, including without limitation the purchase of the Note and the Shares, not be consummated as herein provided; and (iv) The Company shall have obtained the consents of Steel City Capital Funding and PNC Bank, National Association, thereby avoiding any default that would have occurred as a result of the issuance of the Notes, under the Guarantor Security Agreement and the Revolving Credit, Term Loan, Equipment Line of Credit, as amended.

Subscription for Securities. (a) Upon As soon as possible after the execution and delivery of this Agreement, and subject to the terms and conditions hereof, including the satisfaction of the conditions described in subsection (b) below, the Company shall deliver the original executed Note and the certificates for the Shares Common Stock to the Subscriber, each registered in the name of the Subscriber, against receipt of an amount equal to the principal amount of purchase price for the Note Common Stock for which the Subscriber is subscribing. (b) Subscriber's ’s obligation to purchase the Note and the Shares Common Stock is subject to the fulfillment (or written waiver by the Placement AgentSubscriber) of each of the following conditions: (i) The representations and warranties of the Company contained in this Agreement shall be true and correct on and as of the date of such purchase; (ii) The Company shall have performed and complied with all covenants, conditions and agreements required by this Agreement to be performed or complied with by them on or prior to the date of such purchase; (iii) There shall be in effect no injunction, writ, preliminary restraining order or any order of any nature directing that the transactions contemplated by this Agreement, including without limitation the purchase of the Note and the SharesCommon Stock, not be consummated as herein provided; and (iv) The Company shall have obtained the consents of Steel City Capital Funding and PNC Bank, National Association, thereby avoiding any default that would have occurred as a result of the issuance of the Notes, under the Guarantor Security Agreement and the Revolving Credit, Term Loan, Equipment Line of Credit, as amended.

Subscription for Securities. (a) Upon execution and delivery of this Agreement, and subject to the terms and conditions hereof, including the satisfaction of the conditions described in subsection (b) below, the Company shall deliver the original executed Note and the certificates for the Shares to the Subscriber, each registered in the name of the Subscriber, against upon receipt of an amount equal to and in exchange for the principal amount of the original Initial Note for which the Subscriber is subscribingmarked “cancelled”. (b) Subscriber's ’s obligation to purchase the Note and the Shares is subject to the fulfillment (or written waiver by the Placement Agent) of each of the following conditions: (i) The representations and warranties of the Company contained in this Agreement shall be true and correct on and as of the date of such purchase; (ii) The Company shall have performed and complied with all covenants, conditions and agreements required by this Agreement to be performed or complied with by them on or prior to the date of such purchase; (iii) There shall be in effect no injunction, writ, preliminary restraining order or any order of any nature directing that the transactions contemplated by this Agreement, including without limitation the purchase of the Note and the Shares, not be consummated as herein provided; and (iv) The Company shall have obtained the consents of Steel City Capital Funding and PNC Bank, National Association, thereby avoiding any default that would have occurred as a result of the issuance of the Notes, under the Guarantor Security Agreement and the Revolving Credit, Term Loan, Equipment Line of Credit, as amended.