Commitment Amount The Investor shall commit to purchase up to $50,000,000 of Common Stock of the Issuer over the course of 24 months after an effective registration of the Common Stock. The Issuer shall have the right, but not the obligation, to sell...Seda • August 31st, 2005 • Celerity Systems Inc • Services-computer integrated systems design
On the terms and subject to the conditions set forth below, Cornell Capital Partners, LP (the "Investor") will commit to purchase up to $50.0 million of common stock of Celerity Systems Inc. (the "Issuer") on the principal terms set forth below. This letter is binding and the parties will enter into formal agreements setting forth their respective rights and obligations. Such agreements will contain customary representations, warranties and indemnifications. The material terms of the offering are set forth below:
