Common use of Amount Issued Clause in Contracts

Amount Issued. Subject to the provisions of this Agreement, the Company shall issue to each Record Holder non-transferable rights to purchase one Unit for every five shares of Common Stock held of record on the Record Date. The total number of Units available for subscription in the Rights and Community Offering shall not exceed 225,000. No fractional Rights or cash in lieu thereof will be issued or paid. Each Unit shall entitle the holder thereof to purchase two (2) shares of Common Stock, rounding up any remaining fractional share to the nearest whole number of shares, and one (1) Class A purchase warrant. If the Record Holders do not subscribe for all the Units, the Company shall offer the remaining Units to the general public through the Community Offering. Investors in the Community Offering must subscribe to purchase a minimum of 25 Units, subject to the Company's right to accept smaller subscriptions in its discretion.

Amount Issued. Subject to the provisions of this Agreement, the Company shall issue to each Record Holder non-transferable nontransferable rights to purchase one Unit for every five shares of Common Stock held of record on the Record DateDate (the "Basic Subscription Right"). The total number of Units available for subscription in the Rights and Community Offering shall not exceed 225,000. No fractional Rights or cash in lieu thereof will be issued or paid. Each Unit shall entitle the holder thereof to purchase two (2) shares of Common Stock, rounding up any remaining fractional share to the nearest whole number of shares, and one (1) Class A purchase warrant. If the Record Holders do not subscribe for all the Units, the Company shall offer the remaining Units to the general public through the Community Offering. Investors in the Community Offering must subscribe to purchase a minimum of 25 Units, subject to the Company's right to accept smaller subscriptions in its discretion.