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

Purchase and Sale of Preferred Stock. (a) Subject to the terms and conditions herein, the Company agrees to issue and sell to the Primary Purchaser, and the Primary Purchaser agrees to purchase from the Company, at the Closing Date, 1,800,704 shares of Series A Preferred Stock (the "Primary Purchaser Purchased Shares") for the aggregate purchase price of Thirty Million Dollars ($30,000,000) comprised of (i) Twenty Million Dollars ($20,000,000) in cash (the "Primary Purchaser Cash Payment"), and (ii) services valued at Ten Million Dollars ($10,000,000) pursuant to the Service Agreements.

Purchase and Sale of Preferred Stock. (a1) Subject to the terms and conditions herein, the Company agrees to issue and sell to the Primary Purchaser, and the Primary Purchaser agrees to purchase from the Company, at the Closing Date, 1,800,704 shares of Series A Preferred Stock (the "Primary Purchaser Purchased Shares") for the aggregate purchase price of Thirty Million Dollars ($30,000,000) comprised of (i) Twenty Million Dollars ($20,000,000) in cash (the "Primary Purchaser Cash Payment"), and (ii) services valued at Ten Million Dollars ($10,000,000) pursuant to the Service Agreements.

Purchase and Sale of Preferred Stock. (a1) Subject to the terms and conditions herein, the Company agrees to issue and sell to the Primary Purchaser, and the Primary Purchaser agrees to purchase from the Company, at the Closing Date, 1,800,704 shares of Series A Preferred Stock (the "Primary Purchaser Purchased Shares") for the aggregate purchase price of Thirty Million Dollars ($30,000,000) comprised of (i) i)- Twenty Million Dollars ($20,000,000) in cash (the "Primary Purchaser Cash Payment"), and (ii) ii)- services valued at Ten Million Dollars ($10,000,000) pursuant to the Service Agreements.