Examples of Stock Subscription and Purchase Agreement in a sentence
All notices, demands, requests and other communications required or permitted to be given under the provisions of this Agreement shall be in writing and shall be deemed duly given on the date mailed by certified United States delivered (by messenger or overnight or express delivery service), addressed to the Corporation and the Buyer as set forth in the Stock Subscription and Purchase Agreement (the Corporation being referred to therein as the "Seller").
In fulfillment of the provisions of the Stock Subscription and Purchase Agreement, the Buyer, the Corporation and the Note and Stock Escrow Agent are now entering into this Agreement.
The Buyer and the Corporation have entered into that certain Stock Subscription and Purchase Agreement dated of event date herewith, the terms of which are incorporated herein by reference and made a part hereof, which provides that Fifty Thousand Dollars ($50,000.00) will be deposited in escrow upon the execution thereof.
The Buyer hereby deposits with the Cash Escrow Agent, via cashiers funds or via wire transfer, in accordance with the wire transfer instructions contained in the Stock Subscription and Purchase Agreement, the sum of Fifty Thousand Dollars ($50,000.00) (the "Initial Cash Escrow Deposit").
Cash releases from the Cash Escrow shall be made on mandatory and non-discretionary basis to the Corporation from time to time by the Cash Escrow Agent, as obligations in the various categories set forth in the Cash Budget incorporated into the Stock Subscription and Purchase Agreement as Exhibit E thereto are incurred, or required to be paid by the Corporation (including advance deposits and similar obligations).
In fulfillment of the provisions of the Stock Subscription and Purchase Agreement, the Buyer, the Corporation and the Cash Escrow Agent are now entering into this Agreement.
In addition to the foregoing, all payments made by the Buyer under the two promissory notes executed by the Buyer for $50,000.00 each, as required under the terms of the Stock Subscription and Purchase Agreement and such notes, shall be delivered to the Cash Escrow Agent via cashiers funds or via wire transfer in accordance with the same wire transfer instructions.
The Buyer and the Corporation have entered into that certain Stock Subscription and Stock Purchase Agreement dated as of January 12, 2001 (the "Stock Subscription and Purchase Agreement"), the terms of which are incorporated herein by reference and made a part hereof, which terms provide, among other things, for the issuance by the Corporation of 51,780,178 shares of restricted common stock in Centrack International, Inc.
If this Purchase Agreement and the Stock Subscription and Purchase Agreement shall have been terminated for any reason, this Purchase Agreement shall be automatically reinstated on any reinstatement of the Stock Subscription and Purchase Agreement, without further notice or act.
The completion of the purchase and sale of the Purchased Assets provided for in this Purchase Agreement (the "Closing") will take place at the same place as and immediately prior to, the closing of the transactions contemplated by the Stock Subscription and Purchase Agreement.