Common use of Commitment Fees Clause in Contracts

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five percent (5%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon the execution of this Agreement the Company shall issue to the Investor shares of the Company' s Common Stock in an amount equal to Three Hundred Forty Thousand Dollars ($340,000) divided by the Closing Bid Price on the Closing Date (the "Investor's Shares"). (iii) Fully Earned. Any Investor's Shares issued to the Investor shall be deemed fully earned as of the date hereof.

Appears in 3 contracts

Sources: Equity Line of Credit Agreement (Bio One Corp), Equity Line of Credit Agreement (Bio One Corp), Equity Line of Credit Agreement (Bio One Corp)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrowof each Advance, an amount equal to five percent (5%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will shall be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon the execution of this Agreement the Company shall issue to the Investor 1,471,429 shares of the Company' s 's Common Stock in (an amount equal to Three Five Hundred Forty Fifteen Thousand Dollars ($340,000515,000) divided by the Closing Bid Price on the Closing Date $0.35) (the "Investor's Shares"). (iii) Fully Earned. Any The Investor's Shares issued to the Investor shall be deemed fully earned as of the date hereof.

Appears in 2 contracts

Sources: Standby Equity Distribution Agreement (Sensor System Solutions Inc), Standby Equity Distribution Agreement (Sensor System Solutions Inc)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five percent (5%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon the execution of this Agreement the Company shall issue to the Investor shares of the Company' s 's Common Stock in an amount equal to Three Two Hundred Forty Ninety Thousand Dollars ($340,000290,000) divided by the Closing closing Bid Price of the Company's Common Stock, as quoted by Bloomberg, LP, on the Closing Date date hereof (the "Investor's Shares"). (iii) Fully Earned. Any Investor's Shares issued to the Investor shall be deemed fully earned as of the date hereof.

Appears in 2 contracts

Sources: Standby Equity Distribution Agreement (Syndication Net Com Inc), Standby Equity Distribution Agreement (Syndication Net Com Inc)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five four percent (54%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon the execution of this Agreement . Furthermore, the Company shall issue and deliver to the Investor shares (the "Investor's Shares") of the Company' s 's Common Stock in an amount equal to Three Four Hundred Forty Thousand Dollars ($340,000400,000) (the "Fee") calculated as follows: (i) Initial Installment. The initial installment of the Fee shall be paid on the Closing Date and the number of shares to be delivered to the Investor shall be equal to the quotient of $200,000 divided by the Closing Bid Price on the Closing Date (the "Investor's Shares")Date. (iii) Fully Earned. Any Investor's Shares issued to the Investor shall be deemed fully earned as of the date hereof.

Appears in 2 contracts

Sources: Equity Line of Credit Agreement (Vertical Computer Systems Inc), Equity Line of Credit Agreement (Vertical Computer Systems Inc)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five four percent (54%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon the execution of this Agreement the Company shall issue pay to the Investor shares of the Company' s 's Common Stock in an amount equal to Three Two Hundred Forty Ninety Thousand Dollars ($340,000290,000) divided by the Closing Bid Price of the Company's Common Stock on the Closing Date date hereof (the "Investor's Shares"). (iii) Fully Earned. Any The Investor's Shares issued to the Investor shall be deemed fully earned as of the date hereof.

Appears in 1 contract

Sources: Standby Equity Distribution Agreement (Maximum Dynamics Inc)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five and one half percent (55.5%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon the execution of this Agreement the Company shall issue to the Investor shares of the Company' s 's Common Stock in an amount equal to Three Nine Hundred Forty Ninety Thousand Dollars ($340,000990,000) divided by the Closing Bid Price on the Closing Date (the "Investor's Shares"). (iii) Fully Earned. Any Investor's Shares issued to the Investor shall be deemed fully earned as of the date hereof.

Appears in 1 contract

Sources: Standby Equity Distribution Agreement (Ivoice Com Inc /De)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five percent (5%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon the execution of this Agreement the Company shall issue to the Investor shares of the Company' s 's Common Stock in an amount equal to Three Five Hundred Forty Fifteen Thousand Dollars ($340,000515,000) divided by the Closing closing Bid Price of the Company's Common Stock, as quoted by Bloomberg, LP, on the Closing Date date hereof (the "Investor's Shares"). (iii) Fully Earned. Any Investor's Shares issued to the Investor shall be deemed fully earned as of the date hereof.

Appears in 1 contract

Sources: Standby Equity Distribution Agreement (Immune Response Corp)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five four percent (54%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon the execution of this Agreement the Company shall issue to the Investor shares of the Company' s ’s Common Stock in an amount equal to Three Two Hundred Forty Thousand Dollars ($340,000240,000) divided by the Closing Bid Price on the Closing Date (the "Investor's ’s Shares"). (iii) Fully Earned. Any The Investor's ’s Shares issued to the Investor shall be deemed fully earned as of the date hereof.

Appears in 1 contract

Sources: Standby Equity Distribution Agreement (Cyop Systems International Inc)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five percent (5%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon In addition upon the execution of this Agreement the Company shall issue to the Investor shares of the Company' s 's Common Stock in an amount equal to Three Two Hundred Forty Fifty Thousand Dollars ($340,000250,000) divided by the Closing Bid Price of the Company's Common Stock on the Closing Date date hereof . (the "Investor's Shares"). (iii) Fully Earned. Any The Investor's Shares issued to the Investor shall be deemed fully earned as of upon delivery to the date hereofInvestor.

Appears in 1 contract

Sources: Equity Line of Credit Agreement (Azco Mining Inc)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five one and one half percent (51.5%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon the execution of this Agreement the Company shall issue to the Investor shares of the Company' s 's Common Stock in an amount equal to Three Two Hundred Forty Ninety Thousand Dollars ($340,000290,000) divided by the Closing Bid Price on the Closing Date date hereof (the "Investor's Shares"). (iii) Fully Earned. Any Investor's Shares issued to the Investor shall be deemed fully earned as of the date hereof.

Appears in 1 contract

Sources: Equity Line of Credit Agreement (Smartire Systems Inc)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five percent (5%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon No additional compensation is due to the execution of this Agreement the Investor. The Company shall issue previously issued to the Investor shares of the Company' s 's Common Stock in an amount equal to Three Four Hundred Forty Ninety Thousand Dollars ($340,000490,000) divided by the Closing Bid Price closing bid price of the Company's Common Stock, as quoted by Bloomberg, LP, on the Closing Date October 15, 2004 (the "Investor's Shares").. ----------------- (iii) Fully Earned. Any The Investor's Shares issued to the Investor shall be were deemed fully earned as ------------- of the date hereofOctober 13, 2004.

Appears in 1 contract

Sources: Standby Equity Distribution Agreement (Intrepid Technology & Resource Inc)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five percent (5%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon the execution of this Agreement the Company shall issue to the Investor shares of the Company' s 's Common Stock in an amount equal to Three Two Hundred Forty Thousand Dollars ($340,000240,000) divided by the Closing Bid Price on the Closing Date (the "Investor's SharesINVESTOR'S SHARES"). (iii) Fully EarnedFULLY EARNED. Any Investor's Shares issued to the Investor shall be deemed fully earned as of upon delivery to the date hereofInvestor.

Appears in 1 contract

Sources: Equity Line of Credit Agreement (Coinless Systems Inc)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five percent (5%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon the execution of this Agreement the Company shall issue to the Investor shares of the Company' s ’s Common Stock in an amount equal to Three Hundred Forty Ninety Thousand Dollars ($340,000390,000) divided by the Closing average of the closing Bid Price of the Common Stock, as quoted by Bloomberg, LP, on the Closing Date three consecutive trading days immediately prior to the date hereof (the "Investor's ’s Shares"). (iii) Fully Earned. Any Investor's Shares issued to the Investor shall be deemed fully earned as of the date hereof.

Appears in 1 contract

Sources: Standby Equity Distribution Agreement (Xsunx Inc)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five percent (5%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon In addition upon the execution of this Agreement the Company shall issue to the Investor shares of the Company' s 's Common Stock in an amount equal to Three Two Hundred Forty Thousand Dollars ($340,000240,000) divided by the Closing Bid Price of the Company's Common Stock on the Closing Date date hereof . (the "Investor's Shares"). (iii) Fully Earned. Any The Investor's Shares issued to the Investor shall be deemed fully earned as of upon delivery to the date hereofInvestor.

Appears in 1 contract

Sources: Equity Line of Credit Agreement (Azco Mining Inc)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five percent (5%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon the execution of this Agreement the Company shall issue to the Investor shares of the Company' s 's Common Stock in an amount equal to Three Two Hundred Forty Thousand Dollars ($340,000240,000) divided by the Closing Bid Price on the Closing Date (the "Investor's Shares"), which fee has already been paid. (iii) Fully Earned. Any Investor's Shares issued to the Investor shall be deemed fully earned as of upon delivery to the date hereofInvestor.

Appears in 1 contract

Sources: Equity Line of Credit Agreement (Coinless Systems Inc)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five percent (5%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon In addition upon the execution of this Agreement the Company shall issue to the Investor shares of the Company' s 's Common Stock in an amount equal to Three Hundred Forty Ninety Thousand Dollars ($340,000390,000) divided by the Closing Bid Price of the Company's Common Stock on the Closing Date date hereof (the "Investor's Shares"). (iii) Fully Earned. Any The Investor's Shares issued to the Investor shall be deemed fully earned as of upon delivery to the date hereofInvestor.

Appears in 1 contract

Sources: Equity Line of Credit Agreement (Innovative Gaming Corp of America)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five percent (5%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon the execution of this Agreement the Company shall issue to the Investor shares of the Company' s 's Common Stock in an amount equal to Three Two Hundred Forty Thousand Dollars ($340,000240,000) divided by the Closing Bid Price on the Closing Date (the "Investor's Shares"). (iii) Fully Earned. Any Investor's Shares issued to the Investor shall be deemed fully earned as of upon delivery to the date hereofInvestor.

Appears in 1 contract

Sources: Equity Line of Credit Agreement (Coinless Systems Inc)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five four percent (54%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon the execution of this Agreement the Company shall issue to the Investor shares of the Company' s ’s Common Stock in an amount equal to Three Seven Hundred Forty Thousand Dollars ($340,000740,000) divided by the Closing closing Bid Price of the Company’s Common Stock, as quoted by Bloomberg, LP on the Closing Date date hereof (the "Investor's ’s Shares"). (iii) Fully Earned. Any Investor's Shares issued to the Investor shall be deemed fully earned as of the date hereof.

Appears in 1 contract

Sources: Standby Equity Distribution Agreement (Viper Powersports Inc)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five four percent (54%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon the execution of this Agreement the Company shall issue to the Investor shares of the Company' s 's Common Stock in an amount equal to Three One Hundred Forty Fifty Thousand Dollars ($340,000150,000) divided by the Closing Bid Price on the Closing Date (the "Investor's Shares"). (iii) Fully Earned. Any Investor's Shares issued to the Investor shall be deemed fully earned as of upon delivery to the date hereofInvestor.

Appears in 1 contract

Sources: Equity Line of Credit Agreement (Nuwave Technologies Inc)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five four percent (54%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon the execution of this Agreement the Company shall issue to the Investor shares of the Company' s 's Common Stock in an amount equal to Three One Hundred Forty Ninety Thousand Dollars ($340,000190,000) divided by the Closing Bid Price on the Closing Date (the "Investor's Shares"). (iii) Fully Earned. Any The Investor's Shares issued to and the Investor Investor's Counsels Shares shall be deemed fully earned as of the date hereof.

Appears in 1 contract

Sources: Equity Line of Credit Agreement (Cirtran Corp)

Commitment Fees. (i) On each Advance Date the Company shall pay to the Investor, directly from the gross proceeds held in escrow, an amount equal to five percent (5%) of the amount of each Advance. The Company hereby agrees that if such payment, as is described above, is not made by the Company on the Advance Date, such payment will be made at the direction of the Investor as outlined and mandated by Section 2.3 of this Agreement. (ii) Upon the execution of this Agreement the Company shall issue to the Investor shares of the Company' s 's Common Stock in an amount equal to Three One Hundred Forty Thousand Dollars ($340,000140,000) divided by the Closing Bid Price closing bid price of the Company's Common Stock, as quoted by Bloomberg, LP, on the Closing Date date hereof (the "Investor's Shares"). (iii) Fully Earned. Any Investor's Shares issued to the Investor shall be deemed fully earned as of the date hereof.

Appears in 1 contract

Sources: Standby Equity Distribution Agreement (Global Concepts, Ltd.)