Equity Placement Clause Samples

Equity Placement. The Borrower covenants and agrees that it will use its best efforts to obtain the investment of a minimum of $3,000,000 (the "Equity Placement") in exchange for equity interests in the Borrower. The equity interests shall consist of such combination of shares of Common Stock and Common Stock Purchase Warrants (the "Equity Placement Units") as shall be mutually agreeable to the Borrower and investors other than the Lenders (the "Outside Investors"). The Equity Placement shall occur no later than [Confidential Information filed separately with the Securities and Exchange Commission] (the "Placement Date"). The Borrower shall use its best efforts to obtain [Confidential Information filed separately with the Securities and Exchange Commission] (the "Minimum Outside Investment Amount") of the Equity Placement from Outside Investors. Provided that the Borrower shall have received the Minimum Outside Investment Amount, the Lenders agree that they shall subscribe for that number of the Equity Placement Units which equals a total investment by the Lenders of [Confidential Information filed separately with the Securities and Exchange Commission] at the average number and average price per share of Common Stock and the average number and average exercise price for the Common Stock Purchase Warrants paid by the Outside Investors and on similar terms and conditions as those received by the Outside Investors. The Placement Date may be extended upon agreement of the parties hereto. CONFIDENTIAL TREATMENT REQUESTED BY IQROM COMMUNICATIONS, INC.