Common use of Purchase and Sale of Preferred Shares Clause in Contracts

Purchase and Sale of Preferred Shares. Upon the terms and subject to the conditions herein contained, on the date hereof or such other date as the parties may agree (the ("Closing Date"), the Company shall issue to the Purchasers and the Purchasers shall acquire from the Company, the number of Preferred Shares set forth next to each Purchaser's name on SCHEDULE 1 hereto. The aggregate purchase price of such Preferred Shares, to be paid by the Purchasers in the amount set forth next to each Purchaser's name on SCHEDULE 1 hereto, shall be One Million Two Hundred Thousand Dollars ($1,200,024)(the "Purchase Price").