Purchase Closings. At each closing of the acquisition of Common Shares hereunder,
Purchase Closings. (a) Purchases of Common Stock by the Investor during a Purchase Period may be made at any time and from time to time during the Purchase Period pursuant to one or more "Purchase Notices" given by the Investor to the Company during the Purchase Period, each specifying the dollar amount to be invested by the Investor pursuant to such Purchase Notice and the Purchase Period Price Per Share at which Common Stock is to be so purchased pursuant to such Purchase Notice. If the entire Required Dollar Amount of Common Stock required to be purchased during such Period shall not have been covered by Purchase Notices before the last day of the Purchase Period, the Investor shall be deemed so to have given the Company a Purchase Notice on the last day of the Purchase Period specifying therein the balance of such Required Dollar Amount of Common Stock so to be purchased during such Period and the
Purchase Closings. In connection with the Crown Sterling Subscription, Promus shall pay to the Partnership, by wire transfer or by certified or bank cashier's check, amounts as designated by the Partnership from time to time, the aggregate amount not to exceed the Aggregate Subscription Limit with respect to the acquisition pursuant to the Acquisition Documents, and Twenty Five Million Dollars ($25,000,000) in the aggregate. In connection with each Crown Sterling Incremental Purchase, the Partnership shall issue to Promus one or more certificates representing the whole number of shares of Common Stock and/or Units, as provided in Section 1 hereof, equal to the quotient of (i) the amount paid by Promus to the Partnership in connection with such incremental purchase divided by (ii) the Crown Sterling Purchase Price. The Partnership shall not be required to issue fractional shares of Common Stock or Units in connection with such incremental purchase and, in lieu thereof, the Partnership shall refund to Promus the cash amount represented by the fractional share of Common Stock or Unit based upon the Crown Sterling Purchase Price.
Purchase Closings. Purchaser will purchase and make payment for the Preferred Shares, in cash by wire transfer of immediately available funds to an account designated by Company, as follows:
Purchase Closings. (a) Purchases of Common Stock by the Investor during a Purchase Period may be made at any time and from time to time during the Purchase Period pursuant to one or more "Purchase Notices" given by the Investor to the Company during the Purchase Period, each specifying the dollar amount to be invested by the Investor pursuant to such Purchase Notice and the Purchase Period Price Per Share at which Common Stock is to be so purchased pursuant to such Purchase Notice. If the entire Required Dollar Amount of Common Stock required to be purchased during such Period shall not have been covered by Purchase Notices before the last day of the Purchase Period, the Investor shall be deemed so to have given the Company a Purchase Notice on the last day of the Purchase Period specifying therein the balance of such Required Dollar Amount of Common Stock so to be purchased during such Period and the Purchase Period Price Per Share applicable to such purchase. Each date upon which a Purchase Notice is or is deemed so to have been given is herein referred to as a "Purchase Notice Date."
Purchase Closings. 1.1 Purchase 1 1.2 Closing 1
Purchase Closings. (a) On the terms and subject to the conditions set forth herein:
Purchase Closings. Section 2.01. Purchase and Sale of Shares 4 Section 2.02. Closing 5 ARTICLE III
Purchase Closings. Subject to the provisions of Section 1(a)(ii), each closing of a purchase and sale of Common Stock hereunder shall occur on the respective closing dates of the Partnership's purchase of the Acquisition Hotels, a PHI Development Hotel or any Additional Hotel and the opening date of the Xxxxxxxx Hotel. At each closing of a purchase of Common Stock hereunder:
Purchase Closings. (a) Each closing of the incremental purchase of Units hereunder shall be in connection with a closing of the acquisition of a Qualifying Hotel and shall occur concurrently with the completion of such acquisition provided that the first such closing shall not occur prior to July 15, 1995. At each such closing, Embassy shall pay to the Partnership, by wire transfer or by certified or bank cashiers check, (i) on July 15, 1995, the amount determined by multiplying $5,000,000 by the number of Qualifying Hotels, if any, theretofore acquired by the Partnership, and (ii) on each closing of the acquisition of a Qualifying Hotel by the Partnership occurring subsequent to July 15, 1995, the amount of $5,000,000. At each closing with Embassy hereunder, the Partnership shall issue to Embassy one or more certificates representing the whole number of Units equal to the quotient of (i) $5,000,000, divided by (ii) the Purchase Price per Unit. The Partnership shall not be required to issue fractional Units in connection with any such purchase and, in lieu thereof, the Partnership shall refund to Embassy the cash amount represented by the fractional Unit based upon the Purchase Price per Unit.
