Common use of Basic Subscription Privilege Commitment Clause in Contracts

Basic Subscription Privilege Commitment. The Standby Purchaser hereby irrevocably agrees to exercise its Basic Subscription Privilege in full and to purchase from the Company at the Purchase Price the number of Shares equal to the Standby Purchaser’s Basic Subscription Privilege (the “Basic Subscription Privilege Amount”).

Appears in 2 contracts

Sources: Standby Purchase Agreement (AmBase Corp), Standby Purchase Agreement (Barc Investments LLC)