Second Installment. The second installment of the Fee shall be paid (the "Payment Date") on the earlier of (x) the effective date of the Registration Statement registering the shares underlying this Agreement or (y) six (6) months after the date of this Agreement and the number of shares to be delivered to the Investor shall be equal to the quotient of $200,000 divided by the Closing Bid Price on the Payment Date.
Appears in 3 contracts
Sources: Equity Line of Credit Agreement (Vertical Computer Systems Inc), Equity Line of Credit Agreement (Vertical Computer Systems Inc), Equity Line of Credit Agreement (Vertical Computer Systems Inc)