Common use of Initial Purchase of Common Stock Clause in Contracts

Initial Purchase of Common Stock. Subject to the satisfaction of all of the conditions set forth in Sections 7 and 8 hereof (the “Commencement” and the date of satisfaction of such conditions the “Commencement Date”), at any time within 30 days of the Commencement Date, the Company shall have the right, but not the obligation, to direct the Investor by the Company’s delivery to the Investor of the Initial Purchase Notice, and the Investor thereupon shall have the obligation, to buy the Initial Purchase Amount of Initial Purchase Shares as specified by the Company therein at the Initial Purchase Price (such purchase, the “Initial Purchase”); provided, however, that (i) the Company may not deliver to the Investor more than one (1) Initial Purchase Notice pursuant to this Agreement, (ii) the Company may not deliver the Initial Purchase Notice for an Initial Purchase Amount in excess of 325,000 Initial Purchase Shares (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction after the date of this Agreement), and (iv) the Investor’s total committed obligation under the Initial Purchase shall not exceed Two Million Seven Hundred Eighty Eight Thousand Five Hundred Dollars ($2,788,500). If the Company delivers the Initial Purchase Notice for an Initial Purchase Amount in excess of the limitations contained in this Section 2(a), such Initial Purchase Notice shall be void ab initio to the extent of the amount by which the number of Initial Purchase Shares set forth in such Initial Purchase Notice exceeds the number of Initial Purchase Shares which the Company is permitted to include in such Initial Purchase Notice in accordance herewith, and the Investor shall have no obligation to purchase such excess Initial Purchase Shares in respect of such Initial Purchase Notice; provided that the Investor shall remain obligated to purchase the number of Initial Purchase Shares which the Company is permitted to include in such Initial Purchase Notice.

Initial Purchase of Common Stock. Subject to the satisfaction of all of the conditions set forth in Sections 7 and 8 hereof (the “Commencement” and Beginning one day after the date of satisfaction of such conditions this Agreement and on any Business Day prior to the “Commencement Date”), at any time within 30 days filing of the Commencement DateRegistration Statement, the Company shall have the right, but not the obligation, to direct the Investor by the Company’s delivery to the Investor of the Initial Purchase Notice, and the Investor thereupon shall have the obligation, to buy up to 525,000 Purchase Shares (the “Initial Purchase Amount of Initial Purchase Shares as specified by the Company therein Shares”) at the Initial Purchase Price (such purchase, the “Initial Purchase”); provided, however, that (i) the Company may not deliver to the Investor more than one (1) Initial Purchase Notice pursuant to this Agreement, (ii) the Company may not deliver the Initial Purchase Notice for an Initial Purchase Amount in excess of 325,000 Initial Purchase Shares (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction after the date of this Agreement), and (iv) the Investor’s total committed obligation under the Initial Purchase shall not exceed Two Million Seven Hundred Eighty Eight Thousand Five Hundred Dollars ($2,788,500). If the Company delivers the Initial Purchase Notice for an Initial Purchase Amount in excess of the limitations contained in this Section 2(a), such Initial Purchase Notice shall be void ab initio to the extent of the amount by which the number of Initial Purchase Shares set forth in such Initial Purchase Notice exceeds the number of Initial Purchase Shares which the Company is permitted to include in such Initial Purchase Notice in accordance herewith, and the Investor shall have no obligation to purchase such excess Initial Purchase Shares in respect of such Initial Purchase Notice; provided that the Investor shall remain obligated to purchase the number of Initial Purchase Shares which the Company is permitted to include in such Initial Purchase Notice.

Initial Purchase of Common Stock. Subject to the satisfaction of all of the conditions set forth in Sections 7 7(I) and 8 hereof (8(I) hereof, during the “Commencement” and the date of satisfaction of such conditions the “Commencement Date”), at any time within 30 days of the Commencement DateInitial Purchase Period only, the Company shall have the right, but not the obligation, to direct the Investor by the Company’s delivery to the Investor of the Initial Purchase Notice, and the Investor thereupon shall have the obligation, to buy the Initial Purchase Amount of Initial Purchase Shares as specified by the Company therein at the Initial Purchase Price on the Initial Purchase Date (such purchase, the “Initial Purchase”); provided, however, that (i) the Company may deliver the Initial Purchase Notice to the Investor only on a Business Day during the Initial Purchase Period and the Company shall not have the right to (and shall not) deliver an Initial Purchase Notice in respect of the Initial Purchase at any other time during the term of this Agreement, (ii) the Company may not deliver to the Investor more than one (1) Initial Purchase Notice pursuant to this Agreement, (iiiii) the Company may not deliver the Initial Purchase Notice for an Initial Purchase Amount in excess of 325,000 117,000 Initial Purchase Shares (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction after the date of this Agreement), and (iv) the Investor’s total committed obligation under the Initial Purchase shall not exceed Two Million Seven Five Hundred Eighty Eight Twenty-Six Thousand Five Hundred Thousand Dollars ($2,788,500526,500). If the Company delivers the Initial Purchase Notice for an Initial Purchase Amount in excess of the limitations contained in this Section 2(a), such Initial Purchase Notice shall be void ab initio to the extent of the amount by which the number of Initial Purchase Shares set forth in such Initial Purchase Notice exceeds the number of Initial Purchase Shares which the Company is permitted to include in such Initial Purchase Notice in accordance herewith, and the Investor shall have no obligation to purchase such excess Initial Purchase Shares in respect of such Initial Purchase Notice; provided that the Investor shall remain obligated to purchase the number of Initial Purchase Shares which the Company is permitted to include in such Initial Purchase Notice.