Additional Purchase Shares definition
Examples of Additional Purchase Shares in a sentence
Furthermore, provided the Company can deliver the Purchase Shares or Additional Purchase Shares via DWAC, the Company shall be obligated to require Regular Purchases and/or Additional Purchases for an aggregate number of Purchase Shares and/or Additional Purchase Shares representing a dollar value of an aggregate amount of not less than $1,000,000 per month, subject to the Volume Limitation.
For each Additional Purchase, the Buyer shall pay to the Company an amount equal to the Additional Purchase Amount minus any amounts or credits whatsoever due to Buyer, as full payment for such Additional Purchase Shares via wire transfer of immediately available funds on or before the fourth Business Day following the delivery of Additional Purchase Shares to Buyer.
Upon issuance and payment therefore in accordance with the terms and conditions of this Agreement, the Purchase Shares and Additional Purchase Shares shall be validly issued, fully paid and non-assessable and free from all taxes, liens and charges with respect to the issue thereof, with the holders being entitled to all rights accorded to a holder of Common Stock.
Hess shall pay the purchase price for the Additional Purchase Shares in cash.
Failure to deliver the Purchase Shares or Additional Purchase Shares within three Business Days of the Purchase Date or Additional Purchase Date, the Company will pay Buyer as liquidated damages, and not as a penalty, five percent (5%) of the value of the Common Stock based on the closing bid price of the Common stock for each such day until the Shares are delivered to Buyer.
The Commitment Shares and the Initial Purchase Shares have been duly authorized and, upon issuance in accordance with the terms hereof, the Commitment Shares and the Initial Purchase Shares and Additional Purchase Shares shall be (i) validly issued, fully paid and non-assessable and (ii) free from all taxes, liens and charges with respect to the issuance thereof.
The Company shall comply with all applicable federal, state and foreign securities laws in connection with the offer, issuance and sale of the Purchase Shares and Additional Purchase Shares contemplated by the Transaction Documents.
Except as provided herein, shares of Series D Preferred Stock and Warrants purchased pursuant to the Settlement Additional Purchase Right shall be subject to the same terms and conditions of the Securities Purchase Agreement as if they were Additional Purchase Shares or Additional Warrants, respectively.
Hess' purchase of the Additional Purchase Shares shall happen within five (5) business days after the determination of Fair Market Value.
The Company is not obliged to complete the sale and purchase of any Purchase Shares unless the Option is exercised by the Option Holder in full and the sale and purchase of all the Additional Purchase Shares is completed simultaneously.