Common use of The Company’s Right to Require Regular Purchases Clause in Contracts

The Company’s Right to Require Regular Purchases. Subject to item (d) below and the terms and conditions of this Agreement, on any given Business Day after the Commencement Date, the Company shall have the right but not the obligation to direct the Buyer by its delivery to the Buyer of a Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the number of Purchase Shares specified in such notice, up to 500,000 Purchase Shares, on such Business Day (as long as such notice is delivered on or before 9:00 a.m. Eastern time on such Business Day), unless delivery of a Purchase Notice is waived by Buyer in its sole discretion (each such purchase, a “Regular Purchase”) at the Purchase Price on the Purchase Date; however, in no event shall the Purchase Amount of a Regular Purchase exceed Two Hundred and Fifty Thousand Dollars ($250,000) per Business Day, unless the Buyer and the Company mutually agree. The Company and the Buyer may mutually agree to increase the number of Purchase Shares that may be sold pursuant to a Regular Purchase to as much as an additional 2,000,000 Purchase Shares per Business Day. The Company may deliver additional Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The share amounts in this Section 1(b) shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction. Unless waived by the Buyer, the Company is prohibited from requesting Regular and/or Additional Purchases for five (5) Business Days from the Commencement Date.

The Company’s Right to Require Regular Purchases. Subject to item (d) below and the terms and conditions of this Agreement, on any given Business Day after the Commencement Date, the Company shall have the right but not the obligation to direct the Buyer by its delivery to the Buyer of a Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the number of Purchase Shares ADSs specified in such notice, up to 500,000 150,000 Purchase SharesADSs, on such Business Day that Purchase Notice is delivered to the Buyer (as long as such notice is delivered on or before 9:00 a.m. 5:00 p.m. Eastern time on such Business Day), unless delivery of a Purchase Notice is waived by Buyer in its sole discretion Time) (each such purchase, a “Regular Purchase”) at the Purchase Price on the Purchase Date; however, in no event shall the Purchase Amount of a Regular Purchase exceed Two Five Hundred and Fifty Thousand Dollars ($250,000500,000) per Business Day. Upon receipt by the Company of full payment of the Purchase Amount related to such Regular Purchase, unless the Company shall (i) promptly deliver notice to the Registrar of the Regular Purchase, including instructions to its Registrar to promptly issue to the Depositary the Ordinary Shares to be issued in connection with such Regular Purchase and the Ordinary Shares so issued shall be deposited with the Depositary pursuant to the Deposit Agreement, and (ii) upon such deposit, the Company shall promptly direct the Depositary to promptly issue an amount of ADSs equal to the Purchase ADSs to be purchased by the Buyer and the Company mutually agree. The Company and the Buyer may mutually agree to increase the number of Purchase Shares that may be sold pursuant to a in connection with such Regular Purchase to as much as an additional 2,000,000 Purchase Shares per Business DayPurchase. The Company may deliver additional Purchase Notices to the Buyer from time to time so long as there is not more than one outstanding purchase (either a Regular Purchase or VWAP Purchase) that is not then fully completed i.e. the most recent purchase Buyer has been completedfully paid for and received such Purchase ADSs. The share amounts in this Section 1(b) shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction. Unless waived by the Buyer, the Company is prohibited from requesting Regular and/or Additional Purchases for five (5) Business Days from the Commencement Date.

The Company’s Right to Require Regular Purchases. Subject to item (d) below and the terms and conditions of this Agreement, on any given Business Day after the Commencement Date, the Company shall have the right but not the obligation to direct the Buyer by its delivery to the Buyer of a Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the number of Purchase Shares ADSs specified in such notice, up to 500,000 150,000 Purchase SharesADSs per notice, on such Business Day that Purchase Notice is delivered to the Buyer (as long as such notice is delivered on or before 9:00 a.m. 5:00 p.m. Eastern time on such Business Day), unless delivery of a Purchase Notice is waived by Buyer in its sole discretion Time) (each such purchase, a “Regular Purchase”) at the Purchase Price on the Purchase Date; however, in no event shall the Purchase Amount of a Regular Purchase exceed Two Five Hundred and Fifty Thousand Dollars ($250,000500,000) per Business Day. Upon receipt by the Company of full payment of the Purchase Amount related to such Regular Purchase, unless the Company shall (i) promptly (and not later than one Business Day thereafter) deliver notice to the Registrar of the Regular Purchase including instructions to its Registrar to promptly issue to the custodian of the Depositary the Ordinary Shares to be issued in connection with such Regular Purchase (concurrently with Admission of such shares) and the Ordinary Shares so issued shall be deposited with the Depositary pursuant to the Deposit Agreement, and (ii) upon such deposit, the Company shall promptly direct the Depositary to promptly issue an amount of ADSs equal to the Purchase ADSs to be purchased by the Buyer and the Company mutually agree. The Company and the Buyer may mutually agree to increase the number of Purchase Shares that may be sold pursuant to a in connection with such Regular Purchase to as much as an additional 2,000,000 Purchase Shares per Business DayPurchase. The Company may deliver additional Purchase Notices to the Buyer from time to time so long as there is not more than one outstanding purchase (either a Regular Purchase or VWAP Purchase) that is not then fully completed i.e. the most recent purchase Buyer has been completedfully paid for and received such Purchase ADSs. The share amounts in this Section 1(b) shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction. Unless waived by the Buyer, the Company is prohibited from requesting Regular and/or Additional Purchases for five (5) Business Days from the Commencement Date.

The Company’s Right to Require Regular Purchases. Subject to item (d) below and the terms and conditions of this Agreement, on any given Business Day after the Commencement DateDay, the Company shall have the right but not the obligation to direct the Buyer by its delivery to the Buyer of a Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the number of Purchase Shares specified in such notice, up to 500,000 100,000 Purchase Shares, on such Business Day (as long as such notice is delivered on or before 9:00 a.m. 5:00 p.m. Eastern time on such Business Day), unless delivery of a Purchase Notice is waived by Buyer in its sole discretion ) (each such purchase, a “Regular Purchase”) at the Purchase Price on the Purchase Date; however, in no event shall the Purchase Amount of a Regular Purchase exceed Two Five Hundred and Fifty Thousand Dollars ($250,000500,000) per Business Day, unless the Buyer and the Company mutually agree. The Company and the Buyer may mutually agree to increase the number of Purchase Shares that may be sold pursuant to a per Regular Purchase to as much as an additional 2,000,000 Purchase Shares per Business Day. The Company may deliver additional Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The share amounts in this Section 1(b) shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction. Unless waived by the Buyer, the Company is prohibited from requesting Regular and/or Additional Purchases for five (5) Business Days from the Commencement Date.

The Company’s Right to Require Regular Purchases. Subject to item (d) below and the terms and conditions of this Agreement, on any given Business Day after the Commencement Date, the Company shall have the right but not the obligation to direct the Buyer by its delivery to the Buyer of a Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the number of Purchase Shares specified in such notice, up to 500,000 1,000,000 Purchase Shares, on such Business Day (as long as such notice is delivered on or before 9:00 a.m. 5:00 p.m. Eastern time on such Business Day), unless delivery of a Purchase Notice is waived by Buyer in its sole discretion ) (each such purchase, a “Regular Purchase”) at the Purchase Price on the Purchase Date; however, in no event shall the Purchase Amount of a Regular Purchase exceed Two Five Hundred and Fifty Thousand Dollars ($250,000500,000) per Business Day, Day unless the Buyer and the Company mutually agree. The Company and the Buyer may mutually agree to increase the number of Purchase Shares that may be sold pursuant to a per Regular Purchase to as much as an additional 2,000,000 5,000,000 Purchase Shares per Business Day. The Company may deliver additional Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The share amounts in the first and second sentences of this Section 1(b) shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split split, or other similar transaction. Unless waived by the Buyer, the Company is prohibited from requesting Regular and/or Additional Purchases for five (5) Business Days from the Commencement Date.

The Company’s Right to Require Regular Purchases. Subject to item (d) below and the terms and conditions of this Agreement, on any given Business Day after the Commencement Date, the Company shall have the right but not the obligation to direct the Buyer by its delivery to the Buyer of a Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the number of Purchase Shares specified in such notice, up to 500,000 Purchase Shares, on such Business Day (as long as such notice is delivered on or before 9:00 a.m. Eastern time on such Business Day), unless delivery of a Purchase Notice is waived by Buyer in its sole discretion (each such purchase, a “Regular Purchase”) at the Purchase Price on the Purchase Date; however, in no event shall the Purchase Amount of a Regular Purchase exceed Two Hundred and Fifty Thousand Dollars ($250,000) per Business Day, unless the Buyer and the Company mutually agree. The Company and the Buyer may mutually agree to increase the number of Purchase Shares that may be sold pursuant to a Regular Purchase to as much as an additional 2,000,000 Purchase Shares per Business Day. The foregoing notwithstanding, the Company shall have the obligation to sell and the Buyer shall have the obligation to purchase at the Purchase Price a number of Purchase Shares with an aggregate value of $2,000,000 of Purchase Shares on or before December 31, 2016. Upon failure by the Company to comply with the obligation to sell to Buyer a number of Purchase Shares with an aggregate value of $2,000,000 by December 31, 2016, Buyer will be entitled to liquidated damages of $100,000. The Company may deliver additional Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The share amounts in this Section 1(b) shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction. Unless waived by the Buyer, the Company is prohibited from requesting Regular and/or Additional Purchases for five (5) Business Days from the Commencement Date.

The Company’s Right to Require Regular Purchases. Subject to item (d) below and the terms and conditions of this Agreement, on any given Business Day after the Commencement DateDate (as often as every other Business Day), the Company shall have the right but not the obligation to direct the Buyer by its delivery to the Buyer of a Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the number of Purchase Shares specified in such notice, up to 500,000 50,000 Purchase SharesShares (with such amounts increasing as the Common Stock price increases), on such Business Day (as long as such notice is delivered on or before 9:00 a.m. 5:00 p.m. Eastern time on such Business Day), unless delivery of a Purchase Notice is waived by Buyer in its sole discretion ) (each such purchase, a “Regular Purchase”) at the Purchase Price on the Purchase Date; however, in no event shall the Purchase Amount of a Regular Purchase exceed Two Hundred and Fifty Thousand One Million Dollars ($250,0001,000,000) per Business Day, unless the Buyer and the Company mutually agree. The Company and the Buyer may mutually agree to increase the number of Purchase Shares that for each Regular Purchase may be sold pursuant increased to a Regular Purchase up to as much as an additional 2,000,000 75,000 Purchase Shares if the Consolidated Closing Bid Price of the Common Shares is not below $0.50 per Business Dayshare on the date of the applicable Purchase Notice and to up to 100,000 Purchase Shares if the Consolidated Closing Bid Price of the Common Shares is not below $1.00 per share on the date of the applicable Purchase Notice. The Company may deliver additional Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The share amounts in the first sentence of this Section 1(b) shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split split, or other similar transaction. Unless waived by the Buyer, the Company is prohibited from requesting Regular and/or Additional Purchases for five (5) Business Days from the Commencement Date.

The Company’s Right to Require Regular Purchases. Subject to item (d) below and the terms and conditions of this Agreement, on any given Business Day after the Commencement Date, the Company shall have the right but not the obligation to direct the Buyer by its delivery to the Buyer of a Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the number of Purchase Shares specified in such notice, up to 500,000 250,000 Purchase Shares, on such Business Day (as long as such notice is delivered on or before 9:00 a.m. 5:00 p.m. Eastern time on such Business Day), unless delivery of a Purchase Notice is waived by Buyer in its sole discretion ) (each such purchase, a “Regular Purchase”) at the Purchase Price on the Purchase Date; however, in no event shall the Purchase Amount of a Regular Purchase exceed Two Hundred and Fifty Thousand Dollars ($250,000200,000) per Business Day, unless the Buyer and the Company mutually agree. The Company and the Buyer may mutually agree to increase the number of Purchase Shares that may be sold pursuant to a Regular Purchase to as much as an additional 2,000,000 Purchase Shares per Business Day. The Company may deliver additional Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The share amounts in this Section 1(b) shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction. Unless waived On each Closing Date, the number of Purchase Shares then to be purchased by the Buyer shall not exceed the number of such shares that, when aggregated with all other shares of Common Stock then owned by the Buyer beneficially or deemed beneficially owned by the Buyer, would result in the Company is prohibited from requesting Regular and/or Additional Purchases for five (5) Business Days from Buyer owning more than 4.99% of all of such Common Stock as would be outstanding on such Closing Date, as determined in accordance with Section 16 of the Commencement DateExchange Act and the regulations promulgated thereunder.

The Company’s Right to Require Regular Purchases. Subject to item (d) below and the terms and conditions of this Agreement, on any given Business Day after the Commencement Date, the Company shall have the right but not the obligation to direct the Buyer by its delivery to the Buyer of a Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the number of Purchase Shares specified in such notice, up to 500,000 a maximum of 100,000 Purchase Shares, on such Business Day (as long as such notice is delivered on or before 9:00 a.m. Eastern 5:00 p.m. eastern time on such Business Day), unless delivery of a Purchase Notice is waived by Buyer in its sole discretion ) (each such purchase, a “Regular Purchase”) at the Purchase Price on the Purchase Date; however, in no event shall the Purchase Amount of a Regular Purchase exceed Two Hundred and Fifty Thousand Dollars five hundred thousand dollars ($250,000500,000) per Business Day, unless the Buyer and the Company mutually agree. The Company and the Buyer may mutually agree to increase the number of Purchase Shares that may be sold pursuant to a per Regular Purchase to as much as an additional 2,000,000 1,000,000 Purchase Shares per Business Day. The Company may deliver additional Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The share amounts in the first sentence of this Section 1(b) shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split split, or other similar transaction. Unless waived by the Buyer, the Company is prohibited from requesting Regular and/or Additional Purchases for five (5) Business Days from the Commencement Date.

The Company’s Right to Require Regular Purchases. Subject to item (d) below and the terms and conditions of this Agreement, on any given Business Day after the Commencement Date, the Company shall have the right but not the obligation to direct the Buyer by its delivery to the Buyer of a Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the number of Purchase Shares specified in such notice, up to 500,000 a maximum of 250,000 Purchase Shares, on such Business Day (as long as such notice is delivered on or before 9:00 a.m. Eastern time 5:00p.m. on such Business Day), unless delivery of a Purchase Notice is waived by Buyer in its sole discretion ) (each such purchase, a “Regular Purchase”) at the Purchase Price on the Purchase Date; however, in no event shall the Purchase Amount of a Regular Purchase exceed Two Hundred and Fifty Thousand Dollars seven hundred fifty thousand dollars ($250,000750,000) per Business Day, unless the Buyer and the Company mutually agree. The Company and the Buyer may mutually agree to increase the number of Purchase Shares that may be sold pursuant to a per Regular Purchase to as much as an additional 2,000,000 1,000,000 Purchase Shares per Business Day. The Company may deliver additional Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The share amounts in the first and second sentences of this Section 1(b) shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split split, or other similar transaction. Unless waived by the Buyer, the Company is prohibited from requesting Regular and/or Additional Purchases for five (5) Business Days from the Commencement Date.

The Company’s Right to Require Regular Purchases. Subject to item (d) below and the terms and conditions of this Agreement, on any given Business Day after the Commencement Date, the Company shall have the right but not the obligation to direct the Buyer by its delivery to the Buyer of a Purchase Notice from time to time, and subject to acceptance by the Buyer thereupon shall have the obligationin Buyer’s sole discretion, to buy the number of Purchase Shares specified equal to the lesser of (i) 500,000 shares of Common Stock or (ii) 200% of the average trading volume of the Company’s Common Stock in such notice, up to 500,000 the five (5) Trading Days immediately preceding the respective date of the Purchase Shares, on such Business Day Notice (as long as such notice is delivered on or before 9:00 prior to 8:30 a.m. Eastern time on such Business Day), unless delivery of a Purchase Notice is waived by Buyer in its sole discretion ) (each such purchase, a “Regular Purchase”) at the Purchase Price on the Purchase Date; , provided, however, that the lowest traded price of the Common Stock in no event shall the ten (10) Business Days immediately preceding the date of the respective Purchase Amount of a Regular Purchase exceed Two Hundred and Fifty Thousand Dollars ($250,000) per Business Day, unless Notice must be equal to or greater than the Buyer and the Company mutually agreeMinimum Price. The Company and the Buyer may mutually agree to increase the number of Purchase Shares that may be sold pursuant to a per Regular Purchase to as much as an additional 2,000,000 Purchase Shares per Business DayPurchase. The Company may deliver additional Purchase Notices to the Buyer from time to time so long as time, provided, however, that the most recent purchase has been completedCompany shall not deliver another Purchase Notice to the Buyer within three (3) Business Days of a prior Purchase Notice. Additionally, and except with respect to the Buyer, the Company shall not sell any shares of Common Stock registered under the Shelf Registration Statement or any other registration statement of the Company for thirty (30) calendar days after the date of each Purchase Notice. The share amounts in this Section 1(b) shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction. Unless waived by the Buyer, the Company is prohibited from requesting Regular and/or Additional Purchases for five (5) Business Days from the Commencement Date.

The Company’s Right to Require Regular Purchases. Subject to item (d) below and the terms and conditions of this Agreement, on any given Business Day after the Commencement DateDate (as often as every other Business Day), the Company shall have the right but not the obligation to direct the Buyer by its delivery to the Buyer of a Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the number of Purchase Shares specified in such notice, up to 500,000 200,000 Purchase SharesShares (with such amounts increasing as the Common Stock price increases as set forth below), on such Business Day (as long as such notice is delivered on or before 9:00 a.m. 5:00 p.m. Eastern time on such Business Day), unless delivery of a Purchase Notice is waived by Buyer in its sole discretion ) (each such purchase, a “Regular Purchase”) at the Purchase Price on the Purchase Date; provided, however, that in no event shall the Purchase Amount of a Regular Purchase exceed Two Hundred and Fifty Thousand One Million Dollars ($250,0001,000,000) per Business Day; and provided, unless further, that in the event the Company is delisted from its Principal Market, such obligation of the Buyer and the Company mutually agreeshall be reduced to an obligation to purchase up to 100,000 Purchase Shares on such Business Day. The Company and the Buyer may mutually agree to increase the number of Purchase Shares that for each Regular Purchase may be sold pursuant increased to a Regular Purchase up to as much as an additional 2,000,000 750,000 Purchase Shares if the Consolidated Closing Bid Price of the Common Shares is not below $0.50 per Business Dayshare on the date of the applicable Purchase Notice and to up to 1,000,000 Purchase Shares if the Consolidated Closing Bid Price of the Common Shares is not below $1.00 per share on the date of the applicable Purchase Notice; provided, however, that in the event the Company is delisted from its Principal Market, such obligation of the Buyer shall be reduced to an obligation to purchase up to 375,000 Purchase Shares if the Consolidated Closing Bid Price of the Commons Shares is not below $0.50 per share on the date of the applicable Purchase Notice and up to 500,000 Purchase Shares if the Consolidated Closing Bid Price of the Common Shares is not below $1.00 per share on the date of the applicable Purchase Notice. The Company may deliver additional Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The share amounts set forth in this Section 1(b) shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split split, or other similar transaction. Unless waived by the Buyer, the Company is prohibited from requesting Regular and/or Additional Purchases for five (5) Business Days from the Commencement Date.

The Company’s Right to Require Regular Purchases. Subject to item (d) below and the terms and conditions of this Agreement, on any given Business Day after the Commencement Date, the Company shall have the right but not the obligation to direct the Buyer by its delivery to the Buyer of a Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the number of Purchase Shares specified in such notice, up to 500,000 33,333 Purchase Shares, on such Business Day (as long as such notice is delivered on or before 9:00 a.m. 5:00 p.m. Eastern time on such Business Day), unless delivery of a Purchase Notice is waived by Buyer in its sole discretion ) (each such purchase, a “Regular Purchase”) at the Purchase Price on the Purchase Date; however, in no event shall the Purchase Amount of a Regular Purchase exceed Two One Hundred and Fifty Thousand Dollars ($250,000100,000) per Business Day, unless the Buyer and the Company mutually agree. The Company and the Buyer may mutually agree to increase the number of Purchase Shares that may be sold pursuant to a per Regular Purchase to as much as an additional 2,000,000 Purchase Shares per Business Day. The Company may deliver additional Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The share amounts and Purchase Price in this Section 1(b) shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction. Unless waived by the Buyer, the Company is prohibited from requesting Regular and/or Additional Purchases for five (5) Business Days from the Commencement Date.