Common use of Investment Commitment Clause in Contracts

Investment Commitment. Until the 60th day after the Closing Date, each of the Purchaser and the Company shall use its reasonable best efforts to obtain a binding commitment from a first-tier investment bank or banks (collectively, the "Investment Bank") to make an equity investment in the Company in an amount no less than $5,000,000 at a purchase price of $1.50 per share of Common Stock (the "Investment Bank Shares") (such number of shares and price to be appropriately adjusted to give effect to the Reverse Stock Split or any stock split, stock combination, reorganization, recapitalization, etc. affecting the Company's capital stock). All actions taken by the Purchaser prior to the Closing Date shall be considered in determining whether the Purchaser has used its reasonable best efforts to obtain such a commitment from an Investment Bank.