Common use of Closing Amount Clause in Contracts

Closing Amount. At the First Closing (as defined in the Stock Purchase Agreement), MCEL shall pay to Gecko $350,000 in cash. In exchange for such amount, the Interim Funding Amount and the Services with respect to the first calendar year following the date of the First Closing (collectively, the “First Closing Amount”), Gecko shall issue to MCEL at the First Closing, pursuant to the terms and subject to the conditions set forth in the Stock Purchase Agreement, 59.0673 shares of Gecko’s common stock, no par value (“Common Stock”), which amount shall represent a percentage of the outstanding capital stock of Gecko determined by multiplying 48.00% by a fraction, (A) the numerator of which is the value of the First Closing Amount and (B) the denominator of which is $2,000,000.