Unit Purchasers definition
Examples of Unit Purchasers in a sentence
The total Contributions of all Unit Purchasers will represent a Fifty percent (50%) Interest in the Company.
The conveyance of a Unit which is authorized under this Financial Agreement to a bona fide purchaser shall not require consent or approval of the Township, however the Unit Purchaser shall acquire title to the Unit subject to the requirement for payment of the Annual Service Charge and other provisions of this Financial Agreement expressly applicable to Unit Purchasers, and the exemption from taxation as to the Unit shall continue unaffected by the transfer.
On the Closing Date, the Unit Purchasers shall have purchased the Insider Units and the purchase price for such Insider Units shall be deposited into the Trust Fund.
Certain of the Company's stockholders immediately prior to the Offering (all of which stockholders are referred to as the "Initial Stockholders") and/or their affiliates (such individuals being referred to as the "Unit Purchasers"), have committed to purchase an aggregate of 116,667 Units ("Insider Units") at $6.00 per Unit (for an aggregate purchase price of $700,002) from the Company upon consummation of the Offering.
Any exception for the rights of Residential Unit Purchasers shall only be permissible if the Title Insurer insures such rights are subordinate to the Deed of Trust.
No Residential Unit Purchaser under the Sales Agreements listed on Exhibit M has terminated its respective Sales Agreement and there are no side agreements with any Residential Unit Purchasers modifying any of the terms of the Sales Agreements or otherwise.
The Company has entered into the Subscription Agreements substantially in the form annexed as Exhibit 10.22 to the Registration Statement with the Unit Purchasers to purchase the Insider Units.
Pursuant to the Subscription Agreements, the Unit Purchasers shall place the purchase price for the Insider Units in escrow prior to the consummation of the Offering.
Such security interest is subject to the rights of Residential Unit Purchasers in and to such Deposits in accordance with the terms of their respective Sales Agreements and applicable Laws.
The Company hereby acknowledges and agrees that, so long as the Insider Warrants are held by the Unit Purchasers or theirs affiliates, such Insider Warrants shall be exercisable by surrendering the Insider Warrants for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the difference between the Warrant Price and the "Fair Market Value" (defined below) by (y) the Fair Market Value.