Common use of Refund of Purchase Amount Clause in Contracts

Refund of Purchase Amount. Upon 30 days after (i) the failure of the Company to meet the Milestone by the Evaluation Date or (ii) a Dissolution Event, the Company will refund to the Investor an amount equal to Eighty Percent (80%) of the Purchase Amount, net of applicable taxes and expenses associated with the SAFT Offering (such amount, the “Returned Investment”). The Investor acknowledges and agrees that Twenty Percent (20%) of the Purchase Amount, is a nonrefundable portion of the Purchase Amount (“Nonrefundable Amount”) and accordingly, will not be subject to payment to Investor as a Returned Investment. For the avoidance of doubt, funds from the business operations of Blockstack other than funds received in the SAFT Offering shall not be available for payment of Returned Investments. Any Returned Investments shall be paid in U.S. Dollars. The Investor acknowledges that there may be circumstances in which the Company will not be able to refund all or a portion of the Purchase Amount to Investor.

Refund of Purchase Amount. Upon 30 days after (i) the failure of the Company to meet the Milestone by the Evaluation Date or (ii) a Dissolution Event, the Company will refund to the Investor an amount equal to Eighty Fifty Percent (8050%) of the Purchase Amount, net of applicable taxes and expenses associated with the SAFT Offering (such amount, the “Returned Investment”). The Investor acknowledges and agrees that Twenty Percent (20%) 50% of the Purchase Amount, is a nonrefundable non-refundable portion of the Purchase Amount (“Nonrefundable Non- Refundable Amount”) and accordingly, will not be subject to payment to Investor as a Returned Investment. For the avoidance of doubt, funds from the business operations of Blockstack the Company other than funds received in the SAFT Offering shall not be available for payment of Returned Investments. Any Returned Investments shall be paid in U.S. Dollarsas the Company considers appropriate and to the best of its efforts. The Investor investor acknowledges that there may be circumstances in which the Company company will not be able to refund all or a portion of the purchase amount to investor. Notwithstanding the above, the Company undertakes not to claim from the Investor any damages more than the Purchase Amount to Investorassumed by the Parties of this SAFT and Purchase Agreement.