Common use of Initial Purchase and Commencement of Regular Sales of Common Stock Clause in Contracts

Initial Purchase and Commencement of Regular Sales of Common Stock. Within one (1) Business Day following the satisfaction of the conditions (the "Commencement") as set forth in Sections 7 and 8 below (the date of satisfaction of such conditions, the "Commencement Date"), the Investor shall purchase from the Company (i) Three Hundred Thousand (300,000) Purchase Shares (such Purchase Shares are referred to herein as “Initial Purchase Shares”) (ii) the Preferred Shares with the rights and preferences set forth in the Certificate of Designation, and (iii) the Warrants, and upon receipt of such Initial Purchase Shares, Preferred Shares and Warrants, pay to the Company as the purchase price for such Initial Purchase Shares, Preferred Shares and Warrants, the sum of $900,000, via wire transfer. Thereafter, the Company shall have the right but not the obligation to direct the Investor by its delivery to the Investor of a Purchase Notice from time to time to buy up to One Hundred Thousand (100,000) (the “Regular Purchase Amount”) Purchase Shares (each such purchase a “Regular Purchase”) (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction) at the Purchase Price on the Purchase Date. The Company may deliver multiple Purchase Notices to the Investor so long as at least One (1) Business Day has passed since the most recent Regular Purchase was completed.

Appears in 1 contract

Sources: Purchase Agreement (Onstream Media CORP)

Initial Purchase and Commencement of Regular Sales of Common Stock. Within one Upon execution of this Agreement, the Company shall sell to the Investor and the Investor shall purchase (1the “Initial Purchase”) Business Day following 10,000,000 Purchase Shares (such initial Purchase Shares, the “Initial Purchase Shares”) for aggregate consideration of $800,000 (the “Initial Purchase Amount”). Upon the satisfaction of the conditions (the "Commencement") as set forth in Sections 7 and 8 below hereof (the “Commencement” and the date of satisfaction of such conditions, conditions the "Commencement Date"), the Investor shall purchase from the Company (i) Three Hundred Thousand (300,000) Purchase Shares (such Purchase Shares are referred to herein as “Initial Purchase Shares”) (ii) the Preferred Shares with the rights and preferences set forth in the Certificate of Designation, and (iii) the Warrants, and upon receipt of such Initial Purchase Shares, Preferred Shares and Warrants, pay to the Company as the purchase price for such Initial Purchase Shares, Preferred Shares and Warrants, the sum of $900,000, via wire transfer. Thereafterthereafter, the Company shall have the right right, but not the obligation obligation, to direct the Investor by its delivery deliver to the Investor of a Purchase Notice from time to time a Purchase Notice directing the Investor to buy up to One Hundred Thousand (100,000) (the “Regular Purchase Amount”) Purchase Shares (each such purchase a “Regular Purchase”) (in any amount up to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction) 2,500,000 Purchase Shares per Purchase Notice at the applicable Purchase Price on the applicable Purchase Date; provided, however, that in no event shall the Purchase Amount of a Regular Purchase exceed One Million Dollars ($1,000,000) per Business Day. The Company may deliver multiple Purchase Notices to the Investor so long as Investor; provided, however, that at least One one (1) Business Day shall have elapsed between (i) the date on which the Investor has passed since received all of the Purchase Shares as DWAC Shares in connection with the most recent prior Regular Purchase was completedand Accelerated Purchase (as applicable) and (ii) the date of delivery of a Purchase Notice to the Investor by the Company. Notwithstanding the foregoing, the Company shall not deliver any Purchase Notices during the PEA Period.

Appears in 1 contract

Sources: Purchase Agreement (Advanced Cell Technology, Inc.)

Initial Purchase and Commencement of Regular Sales of Common Stock. Within one (1) Business Day following the satisfaction of the conditions (the "Commencement") as set forth in Sections 7 and 8 below (the date of satisfaction of such conditions, the "Commencement Date"), the Investor shall purchase from the Company (i) Three Hundred Thousand (300,000) Purchase Shares (such Purchase Shares are referred to herein as “Initial Purchase Shares”) (ii) the Preferred Shares with the rights and preferences set forth in the Certificate of Designation, and (iii) the Warrants, and upon receipt of such Initial Purchase Shares, Preferred Shares and Warrants, pay to the Company as the purchase price for such Initial Purchase Shares, Preferred Shares and Warrants, the sum of $900,000, via wire transfer. Thereafter, the Company shall have the right but not the obligation to direct the Investor by its delivery to the Investor of a Purchase Notice from time to time to buy up to One Hundred Forty Five Thousand (100,00045,000) (the “Regular Purchase Amount”) Purchase Shares (each such purchase a “Regular Purchase”) (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction) at the Purchase Price on the Purchase Date. The Company may deliver multiple Purchase Notices to the Investor so long as at least One two (12) Business Day has Days have passed since the payment for the most recent Regular Purchase was completed.

Appears in 1 contract

Sources: Purchase Agreement (Onstream Media CORP)