Common use of Initial Subscription Clause in Contracts

Initial Subscription. The Investor agrees to subscribe for the purchase of that number of shares of the Common Stock equal to the quotient obtained by dividing the Initial Purchase Price (as defined below) by the Initial Average Trading Price (the "Initial Shares")), for the Initial Purchase Price and the Corporation agrees to accept the subscription. Upon the Initial Closing Date, the Investor shall deliver to the Corporation funds in the amount of the Initial Purchase Price for the Initial Shares and the Corporation shall, at the Investor's request, deliver, or promptly after the Closing Date shall deliver, to the Investor a certificate or certificates representing the Initial Shares.

Initial Subscription. The Investor agrees to subscribe for the purchase of that number of shares of the Common Stock equal to the quotient obtained by dividing the Initial Purchase Price (as defined below) by the Initial Average Trading Price (the "Initial Shares")), for the Initial Purchase Price and the Corporation agrees to accept the subscription. Upon the Initial Closing Date, the Investor shall deliver to the Corporation funds in the amount of the Initial Purchase Price for the Initial Shares and the Corporation shall, at the Investor's request, shall deliver, or promptly after the Closing Date shall deliver, to the Investor a certificate or certificates representing the Initial Shares.