Common use of Exchange Commitments Clause in Contracts

Exchange Commitments. Subject to the terms and conditions of this Agreement, on the Closing Date (as hereinafter defined), (a) the Company will issue to MSN the aggregate number of shares Class A Common Stock equal to the Discharged Debt divided by the lower of: (i) the Nasdaq official closing price (as reflected on N▇▇▇▇▇.▇▇▇) of the Class A Common Stock immediately preceding the signing of this Agreement, or (ii) the average Nasdaq official closing price of the Class A Common Stock (as reflected on N▇▇▇▇▇.▇▇▇) for the five trading days immediately preceding the signing of this Agreement, and (b) in exchange, MSN will release the Company from any obligations with respect to the Discharged Debt evidencing payment and satisfaction in full of the Discharged Debt for the receipt of the Acquired Shares. The actions described in subparts (a) and (b), collectively, are referred to as the “Exchange”.

Exchange Commitments. Subject to the terms and conditions of this Agreement, on the Closing Date (as hereinafter defined), (a) the Company will issue to MSN the aggregate number of shares of Class A Common Stock equal to the Discharged Debt divided by the lower of: (i) the Nasdaq official closing price (as reflected on N▇▇▇▇▇.▇▇▇) of the Class A Common Stock immediately preceding the signing of this Agreement, or (ii) the average Nasdaq official closing price of the Class A Common Stock (as reflected on N▇▇▇▇▇.▇▇▇) for the five trading days immediately preceding the signing of this AgreementAgreement (the “Acquired Shares”), and (b) and, in exchange, MSN will release the Company from any obligations with respect to the Discharged Debt evidencing payment and satisfaction in full of the Discharged Debt for the receipt of the Acquired Shares. The actions described in subparts (a) and (b), collectively, are referred to as the “Exchange”.