Common use of VWAP Purchases Clause in Contracts

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 6 contracts

Samples: Common Stock Purchase Agreement (Athersys, Inc / New), Common Stock Purchase Agreement (Athersys, Inc / New), Common Stock Purchase Agreement (Athersys, Inc / New)

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VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by its timely delivery to the Investor of a VWAP Purchase Notice for a VWAP Purchase (each, a “VWAP Purchase”), specifying in such VWAP Purchase Notice (a) the VWAP Purchase Percentage for such VWAP Purchase and (b) whether a Limit Order Continue Election or a Limit Order Discontinue Election shall apply to such VWAP Purchase, on the applicable Purchase Date therefor, to purchase a specified VWAP Purchase Share Amount, which shall not exceed the applicable VWAP Purchase Maximum Amount, at the applicable VWAP Purchase Price therefor on such Purchase Date in accordance with this Agreement. The Company may timely deliver to the Investor a VWAP Purchase Notice for a VWAP Purchase on any Trading Day selected by the Company as the Purchase Date for such VWAP Purchase, so long as (i) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding such Purchase Date is not less than the Threshold Price, and (ii) all Shares subject to all prior VWAP Purchases and Intraday VWAP Purchases (as applicable) pursuant to this Agreement have been received by the Investor as DWAC Shares prior to the Company’s delivery to the Buyer Investor of such VWAP Purchase Notice for such VWAP Purchase on such Purchase Date. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Company is then permitted to include in such VWAP Purchase Notice from time (taking into account the VWAP Purchase Percentage specified by the Company in the applicable VWAP Purchase Notice for such VWAP Purchase), such VWAP Purchase Notice shall be void ab initio to time, and the Buyer thereupon shall have extent of the obligation, to buy amount by which the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each Amount set forth in such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A exceeds such applicable VWAP Purchase shall automatically be deemed completed at such time on Maximum Amount, and the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy purchase, and shall not purchase, such excess Shares pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued applicable VWAP Purchase Maximum Amount pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of At or prior to 5:30 p.m., New York City time, on the Purchase Date for each VWAP Purchase DatePurchase, the Buyer Investor shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable provide to the Company, by email correspondence to each of the individual notice recipients of the Company set forth in the applicable VWAP Purchase Notice, a written confirmation for such VWAP Purchase, setting forth the applicable VWAP Purchase Price per Share to be paid by the Investor for the Shares purchased by the Investor in such VWAP Purchase, and the total aggregate VWAP Purchase Price to be paid by the Investor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company mayPEA Period, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesAllowable Grace Period or any MPA Period.

Appears in 6 contracts

Samples: Common Stock Purchase Agreement (GCT Semiconductor Holding, Inc.), Common Stock Purchase Agreement (MultiSensor AI Holdings, Inc.), Common Stock Purchase Agreement (Monogram Orthopaedics Inc)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its timely delivery to the Buyer Investor of a VWAP Purchase Notice from time to time, and for a VWAP Purchase on the Buyer thereupon shall have the obligationapplicable Purchase Date therefor, to buy the purchase a specified VWAP Purchase Share Percentage of Amount, which shall not exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum Price therefor on the VWAP such Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may timely deliver to the Investor a VWAP Purchase Notice to the Buyer for a VWAP Purchase on or before 5:00 p.m. Eastern time on a date on which any Trading Day selected by the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to as the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the for such VWAP Minimum Price Threshold; in such circumstancePurchase, the VWAP Purchase Amount shall be calculated using so long as (i) the VWAP Purchase Share Percentage Closing Sale Price of the aggregate shares traded Common Stock on the Principal Market for Trading Day immediately preceding such portion of the VWAP Purchase Date prior to is not less than the time that the Sale Price fell below the VWAP Minimum Price Threshold Price, and (ii) a all Shares subject to all prior VWAP Purchase Price calculated using Purchases and Intraday VWAP Purchases (as applicable) pursuant to this Agreement have been received by the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date Investor as DWAC Shares prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue delivery to the Buyer an Investor of such VWAP Purchase Notice for such VWAP Purchase on such Purchase Date. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Company is then permitted to include in such VWAP Purchase Notice, such VWAP Purchase Notice shall be void ab initio to the extent of the amount of Common Stock equal to by which the VWAP Purchase Share EstimateAmount set forth in such VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy purchase, and shall not purchase, such excess Shares pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued applicable VWAP Purchase Maximum Amount pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of At or prior to 5:30 p.m., New York City time, on the Purchase Date for each VWAP Purchase DatePurchase, the Buyer Investor shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable provide to the Company, by email correspondence to each of the individual notice recipients of the Company set forth in the applicable VWAP Purchase Notice, a written confirmation for such VWAP Purchase, setting forth the applicable VWAP Purchase Price per Share to be paid by the Investor for the Shares purchased by the Investor in such VWAP Purchase, and the total aggregate VWAP Purchase Price to be paid by the Investor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company mayPEA Period, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesAllowable Grace Period or any MPA Period.

Appears in 5 contracts

Samples: Common Stock Purchase Agreement (Sky Harbour Group Corp), Common Stock Purchase Agreement (Astra Space, Inc.), Common Stock Purchase Agreement (Sidus Space Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 4 contracts

Samples: Common Stock Purchase Agreement (Marker Therapeutics, Inc.), Common Stock Purchase Agreement (Capnia, Inc.), Common Stock Purchase Agreement (Ritter Pharmaceuticals Inc)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 4 contracts

Samples: Common Stock Purchase Agreement (Novan, Inc.), Common Stock Purchase Agreement (aTYR PHARMA INC), Common Stock Purchase Agreement (Celsion CORP)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 50,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 4 contracts

Samples: Common Stock Purchase Agreement (Bacterin International Holdings, Inc.), Common Stock Purchase Agreement (Bacterin International Holdings, Inc.), Common Stock Purchase Agreement (Metabolix, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 50,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 4 contracts

Samples: Common Stock Purchase Agreement (Salarius Pharmaceuticals, Inc.), Common Stock Purchase Agreement (Entasis Therapeutics Holdings Inc.), Common Stock Purchase Agreement (Valeritas Holdings Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 200,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 3 contracts

Samples: Common Stock Purchase Agreement (Ocean Power Technologies, Inc.), Common Stock Purchase Agreement (Miragen Therapeutics, Inc.), Common Stock Purchase Agreement (Sunesis Pharmaceuticals Inc)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 300,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 3 contracts

Samples: Common Stock Purchase Agreement (Novan, Inc.), Common Stock Purchase Agreement (Novan, Inc.), Common Stock Purchase Agreement (ONCOSEC MEDICAL Inc)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 150,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 3 contracts

Samples: Common Stock Purchase Agreement (Valeritas Holdings Inc.), Common Stock Purchase Agreement (Curis Inc), Common Stock Purchase Agreement (Parkervision Inc)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 50,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 3 contracts

Samples: Common Stock Purchase Agreement (Remark Media, Inc.), Common Stock Purchase Agreement (Remark Holdings, Inc.), Common Stock Purchase Agreement (Remark Holdings, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (as long as such notice is delivered on or before 5:00 p.m. eastern time on the Business Day immediately preceding the VWAP Purchase Date) (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time only on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 50,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price sale price of the Common Stock falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price sale price of the Common Stock fell below the VWAP Minimum Price Threshold and (ii) a the VWAP Purchase Price shall be calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price sale price of the Common Stock fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, Buyer pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 3 contracts

Samples: Common Stock Purchase Agreement (NeoStem, Inc.), Common Stock Purchase Agreement (NeoStem, Inc.), Common Stock Purchase Agreement (Caladrius Biosciences, Inc.)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in set forth in Section 6.2, on the Commencement Date and from time to time thereafter, and on any business day selected by the Company where the Closing Sale Price on the applicable national market, or quotation service is equal to or greater than $1.00, subject to the terms and satisfaction of all of the conditions of this Agreementset forth in Section 6.3, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)2.1, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its delivery to the Buyer Investor of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligationNotice, to buy purchase the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of applicable VWAP Purchase Maximum Amount, at the Common Stock applicable VWAP Purchase Price therefor on the applicable VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at ); provided, however, that the Investor’s aggregate committed obligation under a VWAP Purchase Priceand all Additional VWAP Purchases shall not exceed $10,000,000 in the aggregate for such VWAP Purchase and all such Additional VWAP Purchases on such VWAP Purchase Date, collectively. The Company may deliver a VWAP Purchase Notice Notice, in the Form attached hereto as Annex 2.2, to the Buyer on or before 5:00 p.m. Eastern time Investor only (i) on a date Trading Day on which the Company also properly submitted a Fixed Purchase Notice providing for a Regular Fixed Purchase of at least 100,000 an amount of Shares not less than the applicable Fixed Purchase Maximum Amount (calculated as of the applicable Fixed Purchase Date) and (ii) if all Shares subject to all prior Fixed Purchase Notices, VWAP Purchase Notices, and Additional VWAP Purchase Notices (as applicable) have theretofore been received by the Investor. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the Buyersatisfaction of the conditions contained in this Agreement. A If the Company delivers any VWAP Purchase shall automatically be deemed completed at such time on Notice directing the Investor to purchase a VWAP Purchase Date Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Sale Price falls below the VWAP Minimum Price Threshold; Company is then permitted to include in such circumstance, the VWAP Purchase Amount Notice, such VWAP Purchase Notice shall be calculated using (i) void ab initio to the extent of the amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the exceeds such applicable VWAP Purchase Share EstimateMaximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number such excess Shares in respect of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued pursuant to the applicable VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases Maximum Amount in connection with such VWAP Purchase. Upon completion of At or prior to 9:30 a.m., New York City time, on the Trading Day immediately following the VWAP Purchase Date for each VWAP Purchase DatePurchase, the Buyer Investor shall submit provide to the Company a written confirmation of the such VWAP Purchase in form and substance reasonably acceptable to setting forth the Company. The Company may deliver additional applicable VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company mayShare Amount and VWAP Purchase Price for such VWAP Purchase (each, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make a “VWAP PurchasesPurchase Confirmation”).

Appears in 2 contracts

Samples: Common Stock Purchase Agreement (Cero Therapeutics Holdings, Inc.), Common Stock Purchase Agreement (Phoenix Biotech Acquisition Corp.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which (i) the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 200,000 Purchase Shares to the BuyerBuyer and (ii) the Closing Sale Price is higher than $0.50. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 2 contracts

Samples: Common Stock Purchase Agreement (Veru Inc.), Common Stock Purchase Agreement (Veru Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock Shares on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal U.S. Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock Shares sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. As soon as reasonably practicable after receiving payment from the Buyer for the Purchase Shares purchased under the VWAP Purchase, the Company shall deliver to the Company’s Transfer Agent a direction to immediately issue to the Buyer the number of Purchase Shares that the Buyer has the obligation to buy pursuant to the VWAP Purchase Notice. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 2 contracts

Samples: Common Share Purchase Agreement (Titan Medical Inc), Common Share Purchase Agreement (Titan Medical Inc)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time only on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 2 contracts

Samples: Common Stock Purchase Agreement (Cyclacel Pharmaceuticals, Inc.), Common Stock Purchase Agreement (BG Medicine, Inc.)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its timely delivery to the Buyer Investor of a VWAP Purchase Notice from time to Notice, in substantially the form attached hereto as Exhibit D, after 6:00 a.m., New York City time, and the Buyer thereupon shall have the obligationbut prior to 9:00 a.m., New York City time, on a VWAP Purchase Date, to buy purchase the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of applicable VWAP Purchase Maximum Amount, at the Common Stock applicable VWAP Purchase Price therefor on the such VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may timely deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which Investor as often as every Trading Day, so long as all Shares subject to all prior VWAP Purchases theretofore required to have been received by the Investor as DWAC Shares under this Agreement have been delivered to the Investor as DWAC Shares in accordance with this Agreement. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company also submitted a in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice for directing the Investor to purchase a Regular VWAP Purchase Share Amount in excess of at least 100,000 the applicable VWAP Purchase Shares Maximum Amount, such VWAP Purchase Notice shall be void ab initio to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on extent of the amount by which the VWAP Purchase Date Share Amount set forth in such VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, and the Investor shall have no obligation to purchase such excess Shares in respect of such VWAP Purchase Notice; provided, however, that the Investor shall remain obligated to purchase the applicable VWAP Purchase Maximum Amount in such VWAP Purchase. Notwithstanding anything in this paragraph to the contrary, in the case where the Sale Price falls below the VWAP Minimum Threshold Price Threshold; in such circumstanceduring a Trading Day, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell is not below the VWAP Minimum Threshold Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell is not below the Threshold Price. Each VWAP Minimum Price ThresholdPurchase Notice must be include a VWAP Purchase Share Estimate. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer Investor an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Shares constituting the applicable VWAP Purchase Shares Share Amount that the Buyer Investor shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the BuyerInvestor, pursuant to any VWAP Purchase, purchase a number of Shares constituting the applicable VWAP Purchase Shares Share Amount that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer Investor will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Shares constituting the applicable VWAP Purchase Shares Share Amount the Buyer Investor actually purchases in connection with such VWAP Purchase. Upon completion In no event shall the Investor, pursuant to any VWAP Purchase, purchase a number of Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice provided, however, that the Company shall have the right, upon delivery of written notice to the Investor at any time, to request that the Investor return all or a portion of such Excess Shares to the Company. At or prior to 5:30 p.m., New York City time, on the VWAP Purchase Date for each VWAP Purchase DatePurchase, the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase (each, a “VWAP Purchase Confirmation”) setting forth the applicable VWAP Purchase Price per Share to be paid by the Investor in form such VWAP Purchase, and substance reasonably acceptable the total aggregate VWAP Purchase Price to be paid by the CompanyInvestor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPost-Effective Amendment Period.

Appears in 2 contracts

Samples: Company Common Stock Purchase Agreement (Lionheart Acquisition Corp. II), Company Common Stock Purchase Agreement (MSP Recovery, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 150,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 2 contracts

Samples: Common Stock Purchase Agreement (Harvard Apparatus Regenerative Technology, Inc.), Common Stock Purchase Agreement (iBio, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 75,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, stock dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 2 contracts

Samples: Common Stock Purchase Agreement (Recro Pharma, Inc.), Common Stock Purchase Agreement (Recro Pharma, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one (1) Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 2 contracts

Samples: Common Stock Purchase Agreement (Ritter Pharmaceuticals Inc), Common Stock Purchase Agreement (Jaguar Animal Health, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock Shares on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 200,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal U.S. Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock Shares sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. As soon as reasonably practicable after receiving payment from the Buyer for the Purchase Shares purchased under the VWAP Purchase, the Company shall deliver to the Company’s Transfer Agent a direction to immediately issue to the Buyer the number of Purchase Shares that the Buyer has the obligation to buy pursuant to the VWAP Purchase Notice. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 2 contracts

Samples: Common Share Purchase Agreement (Aptose Biosciences Inc.), Common Share Purchase Agreement (Aptose Biosciences Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which (i) the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 50,000 Purchase Shares to the BuyerBuyer and (ii) the Closing Sale Price is higher than $0.50. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 2 contracts

Samples: Common Stock Purchase Agreement (MYnd Analytics, Inc.), Common Stock Purchase Agreement (MYnd Analytics, Inc.)

VWAP Purchases. Subject After the Closing Date, upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3 and in this Section 3.1, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its delivery to the Buyer Investor of a VWAP Purchase Notice from time on a VWAP Purchase Exercise Date to time, and the Buyer thereupon shall have the obligation, to buy purchase the VWAP Purchase Share Percentage of Amount set forth by the trading volume of Company therein, not to exceed the Common Stock on applicable VWAP Purchase Maximum Amount, at the VWAP Purchase Date up to Price therefor (as confirmed in the applicable VWAP Purchase Share Volume Maximum on the VWAP Purchase Date Confirmation) in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at ). During the VWAP Purchase Price. The Investment Period, the Company may deliver a VWAP Purchase Notice to the Buyer Investor on or before 5:00 p.m. Eastern time on a date on which any Trading Day selected by the Company also submitted as the VWAP Purchase Exercise Date for a VWAP Purchase, provided that (i) the Company may not deliver more than one VWAP Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A Investor on any single Trading Day, (ii) the Company may not deliver a VWAP Purchase shall automatically be deemed completed at such time Notice to the Investor on any Trading Day during the period commencing on the VWAP Purchase Exercise Date on which a prior VWAP Purchase Notice has previously been delivered by the Company to the Investor hereunder, and ending on the applicable VWAP Purchase Settlement Date or such later Trading Day on which the Investor shall have received all of the Shares subject to such prior VWAP Purchase Notice as DWAC Shares (the “Quiet Period”); provided, that, the Investor may, in its sole discretion, waive the Quiet Period in the event the resale of the Registrable Securities by the Investor is registered pursuant to an effective Registration Statement on Form S-3 on the date of the applicable VWAP Purchase Notice, and (iii) all Shares subject to all prior VWAP Purchase Notices for VWAP Purchases that have been properly delivered by the Company to the Investor under this Agreement (as applicable) have theretofore been received by the Investor or its Broker-Dealer as DWAC Shares, prior to the Company’s delivery of such VWAP Purchase Notice to the Investor on such VWAP Purchase Exercise Date. The Investor is obligated to accept each VWAP Purchase Notice properly delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Sale Price falls below the VWAP Minimum Price Threshold; Company is then permitted to include in such circumstance, the VWAP Purchase Amount Notice, such VWAP Purchase Notice shall be calculated using (i) void ab initio to the extent of the amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the exceeds such applicable VWAP Purchase Share EstimateMaximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy purchase, and shall not purchase, such excess Shares pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued applicable VWAP Purchase Maximum Amount pursuant to the such VWAP Purchase Share Estimate that exceeds Notice. At or prior to 7:00 p.m., New York City time, on the number of applicable VWAP Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of Date for each VWAP Purchase Datehereunder, the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase in form setting forth the applicable VWAP Purchase Share Amount and substance reasonably acceptable the applicable VWAP Purchase Price (both on a per Share basis and the total aggregate VWAP Purchase Price to be paid by the CompanyInvestor for such applicable VWAP Purchase Share Amount) with respect to such VWAP Purchase (each, a “VWAP Purchase Confirmation”). The Notwithstanding the foregoing, (i) the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The PEA Period and (ii) following the delivery of a VWAP Purchase Notice, the Company may, by written notice to the Buyershall not raise additional capital, in its sole discretion at any time after the date form of this Agreementa public or private securities offering or otherwise, irrevocably terminate this Section 1(cuntil the third (3rd) and its right to direct Trading Day following the Buyer to make applicable VWAP PurchasesPurchase Settlement Date.

Appears in 2 contracts

Samples: Common Stock Purchase Agreement (Edoc Acquisition Corp.), Common Stock Purchase Agreement (Edoc Acquisition Corp.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 200,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 2 contracts

Samples: Common Stock Purchase Agreement (Innovation Pharmaceuticals Inc.), Common Stock Purchase Agreement (Cellceutix CORP)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by its timely delivery to the Investor of a VWAP Purchase Notice for a VWAP Purchase, specifying in such VWAP Purchase Notice (a) whether such VWAP Purchase is (x) a VWAP Purchase-Type A (each such subscription and purchase, a “VWAP Purchase-Type A”) or (y) a VWAP Purchase-Type B (each such subscription and purchase, a “VWAP Purchase-Type B”) and (b) whether a Limit Order Continue Election or a Limit Order Discontinue Election shall apply to such VWAP Purchase, on the applicable Purchase Date therefor, to purchase a specified VWAP Purchase Share Amount, which shall not exceed the applicable VWAP Purchase Maximum Amount, at the applicable VWAP Purchase Price therefor on such Purchase Date in accordance with this Agreement. The Company may timely deliver to the Investor a VWAP Purchase Notice for a VWAP Purchase on any Trading Day selected by the Company as the Purchase Date for such VWAP Purchase, so long as (i) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding such Purchase Date is not less than the Threshold Price, and (ii) all Shares subject to all prior VWAP Purchases and Intraday VWAP Purchases (as applicable) pursuant to this Agreement have been received by the Investor as DWAC Shares prior to the Company’s delivery to the Buyer Investor of such VWAP Purchase Notice for such VWAP Purchase on such Purchase Date. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Company is then permitted to include in such VWAP Purchase Notice from time (taking into account whether the VWAP Purchase to timebe effected pursuant to such VWAP Purchase Notice is specified by the Company as a VWAP Purchase-Type A or a VWAP Purchase-Type B), and such VWAP Purchase Notice shall be void ab initio to the Buyer thereupon shall have extent of the obligation, to buy amount by which the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each Amount set forth in such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A exceeds such applicable VWAP Purchase shall automatically be deemed completed at such time on Maximum Amount, and the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy purchase, and shall not purchase, such excess Shares pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued applicable VWAP Purchase Maximum Amount pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of At or prior to 5:30 p.m., New York City time, on the Purchase Date for each VWAP Purchase DatePurchase, the Buyer Investor shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable provide to the Company, by email correspondence to each of the individual notice recipients of the Company set forth in the applicable VWAP Purchase Notice, a written confirmation for such VWAP Purchase, setting forth the applicable VWAP Purchase Price per Share to be paid by the Investor for the Shares purchased by the Investor in such VWAP Purchase, and the total aggregate VWAP Purchase Price to be paid by the Investor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company mayPEA Period, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesAllowable Grace Period or any MPA Period.

Appears in 2 contracts

Samples: Common Stock Purchase Agreement (Amprius Technologies, Inc.), Common Stock Purchase Agreement (Beam Global)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares the Company’s right to require Regular Purchases as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy buy, at the VWAP Purchase Share Percentage Price, the number of shares of Common Stock indicated by the Company in the applicable VWAP Purchase Notice (such number to not exceed the lesser of (i) two (2) times the maximum number of shares allowed to be sold for a Regular Purchase with applicable Consolidated Closing Bid Prices or (ii) twenty percent (20%) of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum Principal Market during normal trading hours on the VWAP Purchase Date Date) (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price ThresholdPurchase. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the . The Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of Following each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completedcompleted and so long as the Consolidated Closing Bid Price is not below $0.25 on the Purchase Date. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably suspend or terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 2 contracts

Samples: Common Stock Purchase Agreement (Net Element, Inc.), Common Stock Purchase Agreement (Net Element, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which (i) the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 150,000 Purchase Shares to the BuyerBuyer and (ii) the Closing Sale Price is higher than $0.50. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 2 contracts

Samples: Common Stock Purchase Agreement (Atossa Genetics Inc), Common Stock Purchase Agreement (Atossa Genetics Inc)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its timely delivery to the Buyer Investor of a VWAP Purchase Notice from time to time, and for a VWAP Purchase on the Buyer thereupon shall have the obligationapplicable Purchase Date therefor, to buy the purchase a specified VWAP Purchase Share Percentage of Amount, which shall not exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum Price therefor on the VWAP such Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may timely deliver to the Investor a VWAP Purchase Notice to the Buyer for a VWAP Purchase on or before 5:00 p.m. Eastern time on a date on which any Trading Day selected by the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to as the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the for such VWAP Minimum Price Threshold; in such circumstancePurchase, the VWAP Purchase Amount shall be calculated using so long as (i) the VWAP Purchase Share Percentage Closing Sale Price of the aggregate shares traded Common Stock on the Principal Market for Trading Day immediately preceding such portion of the VWAP Purchase Date prior to is not less than the time that the Sale Price fell below the VWAP Minimum Price Threshold Price, and (ii) a all Shares subject to all prior VWAP Purchase Price calculated using Purchases and Intraday VWAP Purchases (as applicable) pursuant to this Agreement have been received by the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date Investor as DWAC Shares prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue delivery to the Buyer an Investor of such VWAP Purchase Notice for such VWAP Purchase on such Purchase Date. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Company is then permitted to include in such VWAP Purchase Notice, such VWAP Purchase Notice shall be void ab initio to the extent of the amount of Common Stock equal to by which the VWAP Purchase Share EstimateAmount set forth in such VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy purchase, and shall not purchase, such excess Shares pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued applicable VWAP Purchase Maximum Amount pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of At or prior to 5:30 p.m., New York City time, on the Purchase Date for each VWAP Purchase DatePurchase, the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase (each, a “VWAP Purchase Confirmation”) setting forth the applicable VWAP Purchase Price per Share to be paid by the Investor for the Shares purchased by the Investor in form such VWAP Purchase, and substance reasonably acceptable the total aggregate VWAP Purchase Price to be paid by the CompanyInvestor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPEA Period.

Appears in 2 contracts

Samples: Common Stock Purchase Agreement (Greenidge Generation Holdings Inc.), Common Stock Purchase Agreement (Knightscope, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which (i) the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 150,000 Purchase Shares to the BuyerBuyer and (ii) the Closing Sale Price is higher than $0.50. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Atossa Genetics Inc)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its timely delivery to the Buyer Investor of a VWAP Purchase Notice from time to Notice, after 6:00 a.m., New York City time, and the Buyer thereupon shall have the obligationbut prior to 9:00 a.m., New York City time, on a VWAP Purchase Date, to buy purchase the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of applicable VWAP Purchase Maximum Amount, at the Common Stock applicable VWAP Purchase Price therefor on the applicable VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date in accordance with this Agreement in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may timely deliver a VWAP Purchase Notice to the Buyer Investor as often as every Trading Day, so long as (i) the Closing Sale Price of the Common Stock on or before 5:00 p.m. Eastern time on the Trading Day immediately preceding such Trading Day is not less than the Threshold Price, and (ii) all Shares subject to all prior VWAP Purchases theretofore required to have been received by the Investor as DWAC Shares under this Agreement have been delivered to the Investor as DWAC Shares in accordance with this Agreement. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a date on VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount, such VWAP Purchase Notice shall be void ab initio to the extent of the amount by which the Company also submitted a VWAP Purchase Share Amount set forth in such VWAP Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A exceeds such applicable VWAP Purchase Maximum Amount, and the Investor shall automatically be deemed completed at have no obligation to purchase such time excess Shares in respect of such VWAP Purchase Notice; provided, however, that the Investor shall remain obligated to purchase the applicable VWAP Purchase Maximum Amount in such VWAP Purchase. At or prior to 5:30 p.m., New York City time, on the VWAP Purchase Date that for each VWAP Purchase, the Sale Investor shall provide to the Company a written confirmation for such VWAP Purchase (each, a “VWAP Purchase Confirmation”) setting forth the applicable VWAP Purchase Price falls below per Share to be paid by the VWAP Minimum Price Threshold; Investor in such circumstanceVWAP Purchase, and the total aggregate VWAP Purchase Amount shall Price to be calculated using (i) paid by the Investor for the total VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate Amount purchased by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date Investor in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase DateNotwithstanding the foregoing, the Buyer Company shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPEA Period.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Ashford Hospitality Trust Inc)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 150,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Tracon Pharmaceuticals, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 30,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (X4 Pharmaceuticals, Inc)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Celsion CORP)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Cyclacel Pharmaceuticals, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 125,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Ocean Power Technologies, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s its delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, obligation to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (as long as such notice is delivered on or before 5:00 p.m. eastern time on the Business Day immediately preceding the VWAP Purchase Date) (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may only deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company it also submitted a Purchase Notice for a Regular Purchase to the Buyer in an amount equal to the lesser of at least (i) 100,000 Purchase Shares or (ii) a number of Purchase Shares with an aggregate Purchase Amount equal to the Buyerfive hundred thousand dollars ($500,000). A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price sale price of the Common Stock falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using the (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price sale price of the Common Stock fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price sale price of the Common Stock fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent transfer agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to with the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional multiple VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Nupathe Inc.)

VWAP Purchases. Subject Upon the initial satisfaction or (to the terms extent permitted by applicable law) waiver of the conditions set forth in Section 6.1 on the Commencement Date and from time to time thereafter, subject to the satisfaction or (to the extent permitted by applicable law) waiver of the conditions of this Agreementset forth in Section 6.2 and Section 6.3, in addition to purchases of Purchase Shares Fixed Purchases as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)2.1, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its timely delivery to the Buyer Investor of a VWAP Purchase Notice from time to timeNotice, and substantially in the Buyer thereupon shall have the obligationform of Exhibit B, on a VWAP Purchase Exercise Date, to buy purchase a specified VWAP Purchase Share Amount, which shall not exceed the VWAP Purchase Share Percentage of the trading volume of the Common Stock on Maximum Amount, at the VWAP Purchase Date up to Price therefor (as confirmed in the applicable VWAP Purchase Share Volume Maximum Confirmation) on the applicable VWAP Purchase Date for such VWAP Purchase, pursuant to and in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at ); provided, however, that the Investor’s committed obligation under any single VWAP Purchase shall not exceed $3,000,000; provided, further, however, that the Company and the Investor may mutually agree to increase the VWAP Purchase PriceMaximum Amount and/or such dollar limit applicable to any VWAP Purchase pursuant to this Agreement. The Company may timely deliver to the Investor a VWAP Purchase Notice for a VWAP Purchase on any Trading Day selected by the Company as the VWAP Purchase Exercise Date for such VWAP Purchase, provided that: (i) the Company has also timely delivered to the Buyer Investor, simultaneously with the delivery to the Investor of such VWAP Purchase Notice on or before 5:00 p.m. Eastern time such Trading Day, a valid Fixed Purchase Notice for a Fixed Purchase directing the Investor to purchase a specified Fixed Purchase Share Amount equal to the Fixed Purchase Maximum Amount (such Trading Day constituting both the Fixed Purchase Date for such Fixed Purchase and the VWAP Purchase Exercise Date for such VWAP Purchase); (ii) the Company may not deliver to the Investor more than one VWAP Purchase Notice on any single Trading Day (such VWAP Purchase Notice to be delivered in the manner set forth in clause (i) hereof and otherwise in accordance with this Agreement); (iii) the Company may not deliver to the Investor a date VWAP Purchase Notice (A) on any Fixed Purchase Date on which the Company also submitted has delivered to the Investor a Fixed Purchase Notice for a Regular Fixed Purchase directing the Investor to purchase a specified Fixed Purchase Share Amount less than the Fixed Purchase Maximum Amount, or during the consecutive Trading Day period beginning on (and including) the Fixed Purchase Share Delivery Date for such Fixed Purchase pursuant to this Agreement and ending on and including the second (2nd) Trading Day after the later of at least 100,000 (1) the Fixed Purchase Settlement Date for such Fixed Purchase and (2) such later Trading Day after such Fixed Purchase Settlement Date on which such Fixed Purchase is fully settled in accordance with this Agreement, (B) during the consecutive Trading Day period beginning on (and including) any VWAP Purchase Date for any VWAP Purchase pursuant to this Agreement, and ending on (and including) the first (1st) Trading Day after the later of (1) the VWAP Purchase Settlement Date for such VWAP Purchase and (2) such later Trading Day after such VWAP Purchase Settlement Date on which such VWAP Purchase is fully settled in accordance with this Agreement, (C) during the consecutive Trading Day period beginning on (and including) the Additional VWAP Purchase Date for any Additional VWAP Purchase pursuant to this Agreement, and ending on (and including) the first (1st) Trading Day after the later of (1) the Additional VWAP Purchase Settlement Date for such Additional VWAP Purchase and (2) such later Trading Day after such Additional VWAP Purchase Settlement Date on which such Additional VWAP Purchase is fully settled in accordance with this Agreement, or (D) during the MPA Period; (iv) all Shares subject to all prior Fixed Purchases, all prior VWAP Purchases and all prior Additional VWAP Purchases (as applicable) effected by the Company pursuant to this Agreement have been received by the Investor as DWAC Shares in accordance with this Agreement prior to the Buyer. A Company’s delivery to the Investor of such VWAP Purchase Notice for such VWAP Purchase on such VWAP Purchase Exercise Date; and (v) the Closing Sale Price of the Common Stock on such VWAP Purchase Exercise Date is not less than the Threshold Price; provided, however, that the Investor may waive any of the requirements or restrictions referred to in clauses (i) through (iv) of this sentence with respect to any VWAP Purchase pursuant to this Agreement prior to the delivery by the Company to the Investor of the applicable VWAP Purchase Notice therefor. The Investor is obligated to accept each VWAP Purchase Notice properly prepared and timely delivered by the Company to the Investor in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Company is then permitted to include in such VWAP Purchase Notice, such VWAP Purchase Notice shall automatically be deemed completed at void ab initio to the extent of the amount by which the VWAP Purchase Share Amount set forth in such time VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, and the Investor shall have no obligation to purchase, and shall not purchase, such excess Shares pursuant to such VWAP Purchase Notice; provided, however, that the Investor shall remain obligated to purchase the applicable VWAP Purchase Maximum Amount pursuant to such VWAP Purchase Notice for such VWAP Purchase. At or prior to 5:30 p.m., New York time, on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any each VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase substantially in the form and substance reasonably acceptable to the Company. The Company may deliver additional of Exhibit C (each, a “VWAP Purchase Notices Confirmation”), setting forth the applicable VWAP Purchase Price per Share to be paid by the Buyer from time Investor for the Shares purchased by the Investor in such VWAP Purchase, and the total aggregate VWAP Purchase Price to time so long as be paid by the most recent purchase has been completed. The Company may, Investor for the total VWAP Purchase Share Amount purchased by written notice to the Buyer, Investor in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make such VWAP PurchasesPurchase.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Evofem Biosciences, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (as long as such notice is delivered on or before 5:00 p.m. eastern time on the Business Day immediately preceding the VWAP Purchase Date) (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time only on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using using: (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, Buyer pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Athersys, Inc / New)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 250,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Scynexis Inc)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which (i) the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 75,000 Purchase Shares to the BuyerBuyer and (ii) the Closing Sale Price is higher than $0.40. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Viking Therapeutics, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which (i) the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 75,000 Purchase Shares to the BuyerBuyer and (ii) the Closing Sale Price is higher than $0.50. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Uranium Resources Inc /De/)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 75,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Tracon Pharmaceuticals, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which (i) the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 200,000 Purchase Shares to the BuyerBuyer and (ii) the Closing Sale Price is higher than $0.50. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Cerulean Pharma Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which (i) the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 150,000 Purchase Shares to the BuyerBuyer and (ii) the Closing Sale Price is higher than $0.40. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (iBio, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time only on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 50,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price sale price of the Common Stock falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using the (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price sale price of the Common Stock fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price sale price of the Common Stock fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, Buyer pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Transwitch Corp /De)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in set forth in Section 7.2 on the Commencement Date and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreementset forth in Section 7.3, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)3.1, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its delivery to the Buyer Investor of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligationNotice, to buy purchase the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of applicable VWAP Purchase Maximum Amount, at the Common Stock applicable VWAP Purchase Price therefor on the applicable VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at ); provided, however, that the Investor’s aggregate committed obligation under a VWAP Purchase Priceand all Additional VWAP Purchases, the applicable Additional VWAP Purchase Date therefor is the same Trading Day as the applicable VWAP Purchase Date for such VWAP Purchase, shall not exceed $10,000,000 in the aggregate for such VWAP Purchase and all such Additional VWAP Purchases, collectively. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time Investor only (i) on a date Trading Day on which the Company also properly submitted a Fixed Purchase Notice providing for a Regular Fixed Purchase of at least 100,000 an amount of Shares not less than the applicable Fixed Purchase Maximum Amount (calculated as of the applicable Fixed Purchase Date), (ii) on a Trading Day on which the Closing Sale Price of the Common Stock is not less than the Threshold Price, and (iii) if all Shares subject to all prior Fixed Purchase Notices, VWAP Purchase Notices, and Additional VWAP Purchase Notices (as applicable) have theretofore been received by the Investor as DWAC Shares. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the Buyersatisfaction of the conditions contained in this Agreement. A If the Company delivers any VWAP Purchase shall automatically be deemed completed at such time on Notice directing the Investor to purchase a VWAP Purchase Date Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Sale Price falls below the VWAP Minimum Price Threshold; Company is then permitted to include in such circumstance, the VWAP Purchase Amount Notice, such VWAP Purchase Notice shall be calculated using (i) void ab initio to the extent of the amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the exceeds such applicable VWAP Purchase Share EstimateMaximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number such excess Shares in respect of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued pursuant to the applicable VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases Maximum Amount in connection with such VWAP Purchase. Upon completion of At or prior to 9:30 a.m., New York City time, on the Trading Day immediately following the VWAP Purchase Date for each VWAP Purchase DatePurchase, the Buyer Investor shall submit provide to the Company a written confirmation of the such VWAP Purchase in form setting forth the applicable VWAP Purchase Share Amount and substance reasonably acceptable to VWAP Purchase Price for such VWAP Purchase (each, a “VWAP Purchase Confirmation”). Notwithstanding the Company. The foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPEA Period.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Ashford Hospitality Trust Inc)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which (i) the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 500,000 Purchase Shares to the BuyerBuyer and (ii) the Closing Sale Price is higher than $0.30. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Liquidmetal Technologies Inc)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time only on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 50,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Sunshine Heart, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Athersys, Inc / New)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which (i) the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the BuyerBuyer and (ii) the Closing Sale Price is higher than the Floor Price. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Biocept Inc)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (such event, the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3 and in this Section 3.1, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its delivery to the Buyer Investor of a VWAP Purchase Notice from time on a VWAP Purchase Exercise Date to time, and purchase the Buyer thereupon shall have the obligation, to buy the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum on Price therefor (as confirmed in the applicable VWAP Purchase Date Confirmation) in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may deliver to the Investor a VWAP Purchase Notice on a VWAP Purchase Exercise Date, provided that: (a) the Company may not deliver more than one VWAP Purchase Notice to the Buyer Investor on or before 5:00 p.m. Eastern time on a date any single Trading Day; (b) at least three (3) Trading Days has elapsed since the Trading Day on which most recent prior VWAP Purchase Notice was delivered by the Company also submitted a to the Investor, in each case pursuant to and in accordance with this Agreement; (c) all Shares subject to all prior VWAP Purchase Notices (as applicable) delivered by the Company to the Investor pursuant to this Agreement (if any) have theretofore been received by the Investor or its Broker-Dealer as DWAC Shares; and (d) the Closing Sale Price of the Common Stock on such VWAP Purchase Exercise Date is not less than the Threshold Price. The Investor is obligated to accept each VWAP Purchase Notice for a Regular Purchase prepared and delivered by the Company in accordance with the terms of at least 100,000 Purchase Shares and subject to the Buyersatisfaction of the conditions contained in this Agreement. A If the Company delivers any VWAP Purchase shall automatically be deemed completed at such time on Notice directing the Investor to purchase a VWAP Purchase Date Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Sale Price falls below the VWAP Minimum Price Threshold; Company is then permitted to include in such circumstance, the VWAP Purchase Amount Notice, such VWAP Purchase Notice shall be calculated using (i) void ab initio to the extent of the amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the exceeds such applicable VWAP Purchase Share EstimateMaximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number such excess Shares in respect of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued pursuant to the applicable VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases Maximum Amount in connection with such VWAP Purchase. Upon completion of At or prior to 9:30 a.m., New York City time, on the Trading Day immediately following the VWAP Purchase Valuation Period for each VWAP Purchase (the “VWAP Purchase Date”), the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase in form setting forth the applicable VWAP Purchase Share Amount and substance reasonably acceptable the applicable VWAP Purchase Price (both on a per Share basis and the total aggregate VWAP Purchase Price to be paid by the CompanyInvestor for such applicable VWAP Purchase Share Amount) for such VWAP Purchase (each, a “VWAP Purchase Confirmation”). The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPEA Period.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Interactive Strength, Inc.)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its timely delivery to the Buyer Investor of a VWAP Purchase Notice from time to time, and for a VWAP Purchase on the Buyer thereupon shall have the obligationapplicable Purchase Date therefor, to buy the purchase a specified VWAP Purchase Share Percentage of Amount, which shall not exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum Price therefor on the VWAP such Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may timely deliver to the Investor a VWAP Purchase Notice to the Buyer for a VWAP Purchase on or before 5:00 p.m. Eastern time on a date on which any Trading Day selected by the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to as the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the for such VWAP Minimum Price Threshold; in such circumstancePurchase, the VWAP Purchase Amount shall be calculated using so long as (i) the VWAP Purchase Share Percentage Closing Sale Price of the aggregate shares traded Ordinary Shares on the Principal Market for Trading Day immediately preceding such portion of the VWAP Purchase Date prior to is not less than the time that the Sale Price fell below the VWAP Minimum Price Threshold Price, and (ii) a all Shares subject to all prior VWAP Purchase Price calculated using Purchases and Intraday VWAP Purchases (as applicable) pursuant to this Agreement have been received by the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date Investor as DWAC Shares prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue delivery to the Buyer an Investor of such VWAP Purchase Notice for such VWAP Purchase on such Purchase Date. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Company is then permitted to include in such VWAP Purchase Notice, such VWAP Purchase Notice shall be void ab initio to the extent of the amount of Common Stock equal to by which the VWAP Purchase Share EstimateAmount set forth in such VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy purchase, and shall not purchase, such excess Shares pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued applicable VWAP Purchase Maximum Amount pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of At or prior to 5:30 p.m., New York City time, on the Purchase Date for each VWAP Purchase DatePurchase, the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase (each, a “VWAP Purchase Confirmation”) setting forth the applicable VWAP Purchase Price per Share to be paid by the Investor for the Shares purchased by the Investor in form such VWAP Purchase, and substance reasonably acceptable the total aggregate VWAP Purchase Price to be paid by the CompanyInvestor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPEA Period.

Appears in 1 contract

Samples: Ordinary Shares Purchase Agreement (SWVL Holdings Corp)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in set forth in Section 7.2 on the Commencement Date and from time to time thereafter, subject to the terms satisfaction of all of the conditions set forth in Section 7.3 and conditions of in this AgreementSection 3.2, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)3.1, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its delivery to the Buyer Investor of a VWAP Purchase Notice from time on a VWAP Purchase Exercise Date to time, and purchase the Buyer thereupon shall have the obligation, to buy the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum on Price therefor (as confirmed in the applicable VWAP Purchase Date Confirmation) in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time Investor on a date VWAP Purchase Exercise Date, so long as (i) at least three (3) Trading Days has elapsed since the later of (A) the Trading Day on which the Company also submitted a most recent prior Fixed Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares was delivered by the Company to the Buyer. A Investor and (B) the Trading Day on which most recent prior VWAP Purchase shall automatically be deemed completed at Notice was delivered by the Company to the Investor, in each case pursuant to and in accordance with this Agreement, (ii) all Shares subject to all prior Fixed Purchase Notices and VWAP Purchase Notices (as applicable) delivered by the Company to the Investor pursuant to this Agreement have theretofore been received by the Investor as DWAC Shares, and (iii) the Closing Sale Price of the Common Stock on such time on VWAP Purchase Exercise Date is not less than the VWAP Purchase Date Threshold Price. For the avoidance of doubt, the Company may not deliver a Fixed Purchase Notice and a VWAP Purchase Notice on the same Trading Day. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Sale Price falls below the VWAP Minimum Price Threshold; Company is then permitted to include in such circumstance, the VWAP Purchase Amount Notice, such VWAP Purchase Notice shall be calculated using (i) void ab initio to the extent of the amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the exceeds such applicable VWAP Purchase Share EstimateMaximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number such excess Shares in respect of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued pursuant to the applicable VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases Maximum Amount in connection with such VWAP Purchase. Upon completion of At or prior to 9:30 a.m., New York City time, on the Trading Day immediately following the VWAP Purchase Valuation Period for each VWAP Purchase (the “VWAP Purchase Date”), the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase in form setting forth the applicable VWAP Purchase Share Amount and substance reasonably acceptable the applicable VWAP Purchase Price (both on a per Share basis and the total aggregate VWAP Purchase Price to be paid by the CompanyInvestor for such applicable VWAP Purchase Share Amount) for such VWAP Purchase (each, a “VWAP Purchase Confirmation”). The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPEA Period.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Gaucho Group Holdings, Inc.)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its timely delivery to the Buyer Investor of a VWAP Purchase Notice from time to time, and for a VWAP Purchase on the Buyer thereupon shall have the obligationapplicable Purchase Date therefor, to buy the purchase a specified VWAP Purchase Share Percentage of Amount, which shall not exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum Price therefor on the VWAP such Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may timely deliver to the Investor a VWAP Purchase Notice to the Buyer for a VWAP Purchase on or before 5:00 p.m. Eastern time on a date on which any Trading Day selected by the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to as the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the for such VWAP Minimum Price Threshold; in such circumstancePurchase, the VWAP Purchase Amount shall be calculated using so long as (i) the VWAP Purchase Share Percentage Closing Sale Price of the aggregate shares traded Ordinary Shares on the Principal Market for Trading Day immediately preceding such portion of the VWAP Purchase Date prior to is not less than the time that the Sale Price fell below the VWAP Minimum Price Threshold Price, and (ii) all Shares subject to all prior VWAP Purchases and Additional VWAP Purchases (as applicable) theretofore required to have been delivered to and received by the Investor as DWAC Shares pursuant to this Agreement have been timely received by the Investor as DWAC Shares in accordance with this Agreement. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion Share Amount in excess of the applicable VWAP Purchase Date prior to the time Maximum Amount that the Sale Price fell below the Company is then permitted to include in such VWAP Minimum Price Threshold. Each Purchase Notice, such VWAP Purchase Notice must shall be accompanied by instructions void ab initio to the Company’s Transfer Agent to immediately issue to extent of the Buyer an amount of Common Stock equal to by which the VWAP Purchase Share EstimateAmount set forth in such VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy purchase, and shall not purchase, such excess Shares pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued applicable VWAP Purchase Maximum Amount pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of At or prior to 5:30 p.m., New York City time, on the Purchase Date for each VWAP Purchase DatePurchase, the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase (each, a “VWAP Purchase Confirmation”) setting forth the applicable VWAP Purchase Price per Share to be paid by the Investor for the Shares purchased by the Investor in form such VWAP Purchase, and substance reasonably acceptable the total aggregate VWAP Purchase Price to be paid by the CompanyInvestor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPEA Period.

Appears in 1 contract

Samples: Ordinary Shares Purchase Agreement (Pivotal Holdings Corp)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 200,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Ipass Inc)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3 and in this Section 3.1, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its delivery to the Buyer Investor of a VWAP Purchase Notice from time on a VWAP Purchase Exercise Date to time, and the Buyer thereupon shall have the obligation, to buy purchase the VWAP Purchase Share Percentage of Amount set forth by the trading volume of Company therein, not to exceed the Common Stock on applicable VWAP Purchase Maximum Amount, at the VWAP Purchase Date up to Price therefor (as confirmed in the applicable VWAP Purchase Share Volume Maximum Confirmation) on the applicable VWAP Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may deliver a VWAP Purchase Notice to the Buyer Investor on or before 5:00 p.m. Eastern time on a date on which any Trading Day selected by the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on as the VWAP Purchase Exercise Date for a VWAP Purchase, provided that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the Company may not deliver more than one VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior Notice to the time that the Sale Price fell below the VWAP Minimum Price Threshold Investor on any single Trading Day and (ii) a all Shares subject to all prior VWAP Purchase Price calculated using Notices for VWAP Purchases that have been properly delivered by the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior Company to the time that Investor under this Agreement (as applicable) have theretofore been received by the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions Investor or its Broker-Dealer as DWAC Shares, prior to the Company’s Transfer Agent to immediately issue delivery of such VWAP Purchase Notice to the Buyer an Investor on such VWAP Purchase Exercise Date. The Investor is obligated to accept each VWAP Purchase Notice properly delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Company is then permitted to include in such VWAP Purchase Notice, such VWAP Purchase Notice shall be void ab initio to the extent of the amount of Common Stock equal to by which the VWAP Purchase Share EstimateAmount set forth in such VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy purchase, and shall not purchase, such excess Shares pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued applicable VWAP Purchase Maximum Amount pursuant to the such VWAP Purchase Share Estimate that exceeds Notice. At or prior to 6:00 p.m., New York City time, on the number of applicable VWAP Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of Date for each VWAP Purchase Datehereunder, the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase in form setting forth the applicable VWAP Purchase Share Amount and substance reasonably acceptable the applicable VWAP Purchase Price (both on a per Share basis and the total aggregate VWAP Purchase Price to be paid by the CompanyInvestor for such applicable VWAP Purchase Share Amount) with respect to such VWAP Purchase (each, a “VWAP Purchase Confirmation”). The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPEA Period.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (AEye, Inc.)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its timely delivery to the Buyer Investor of a VWAP Purchase Notice from time to Notice, in substantially the form attached hereto as Exhibit D, after 6:00 a.m., New York City time, and the Buyer thereupon shall have the obligationbut prior to 9:00 a.m., New York City time, on a VWAP Purchase Date, to buy purchase the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of applicable VWAP Purchase Maximum Amount, at the Common Stock applicable VWAP Purchase Price therefor on the such VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may timely deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which Investor as often as every Trading Day, so long as all Shares subject to all prior VWAP Purchases theretofore required to have been received by the Investor as DWAC Shares under this Agreement have been delivered to the Investor as DWAC Shares in accordance with this Agreement. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company also submitted a in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice for directing the Investor to purchase a Regular VWAP Purchase Share Amount in excess of at least 100,000 the applicable VWAP Purchase Shares Maximum Amount, such VWAP Purchase Notice shall be void ab initio to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on extent of the amount by which the VWAP Purchase Date Share Amount set forth in such VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, and the Investor shall have no obligation to purchase such excess Shares in respect of such VWAP Purchase Notice; provided, however, that the Investor shall remain obligated to purchase the applicable VWAP Purchase Maximum Amount in such VWAP Purchase. Notwithstanding anything in this paragraph to the contrary, in the case where the Sale Price falls below the VWAP Minimum Threshold Price Threshold; in such circumstanceduring a Trading Day, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell is not below the VWAP Minimum Threshold Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell is not below the Threshold Price. Each VWAP Minimum Price ThresholdPurchase Notice must be include a VWAP Purchase Share Estimate. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer Investor an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Shares constituting the applicable VWAP Purchase Shares Share Amount that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the BuyerInvestor, pursuant to any VWAP Purchase, purchase a number of Shares constituting the applicable VWAP Purchase Shares Share Amount that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.VWAP

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Wejo Group LTD)

VWAP Purchases. Subject From time to time from and after the Commencement Date, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3 and in this Section 3.2, the Company shall also have the right right, but not the obligation (other than as set forth in Section 3.1), to direct the Buyer Investor, by the Company’s its delivery to the Buyer Investor of a VWAP Purchase Notice from time on a VWAP Purchase Exercise Date to time, and purchase the Buyer thereupon shall have the obligation, to buy the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum on the VWAP Purchase Date Price therefor in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time Investor on a date on which VWAP Purchase Exercise Date, provided that (i) the Company also submitted a may not deliver more than one VWAP Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A Investor on any single Trading Day, (ii) the Company may not deliver a VWAP Purchase shall automatically be deemed completed at such time Notice to the Investor on any Trading Day during the period commencing on the VWAP Purchase Exercise Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the on which a prior VWAP Purchase Notice has previously been delivered by the Company to the Investor hereunder, and ending on the applicable VWAP Purchase Settlement Date or such later Trading Day on which the Investor shall have received all of the Shares subject to such prior VWAP Purchase Notice as DWAC Shares, and (iii) all Shares subject to all prior VWAP Purchase Notices previously delivered by the Company to the Investor have in fact been received by the Investor as DWAC Shares prior to the Company’s delivery of such VWAP Purchase Notice to the Investor on such VWAP Purchase Exercise Date. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount, such VWAP Purchase Notice shall be calculated using (i) void ab initio to the extent of the amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the exceeds such applicable VWAP Purchase Share EstimateMaximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number such excess Shares in respect of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued pursuant to the applicable VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases Maximum Amount in connection with such VWAP Purchase. Upon completion At or prior to 7:00 p.m., New York City time, on the last Trading Day of the applicable VWAP Purchase Valuation Period for each VWAP Purchase DatePurchase, the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase (each, a “VWAP Purchase Confirmation”) setting forth the applicable VWAP Purchase Price per Share to be paid by the Investor in form such VWAP Purchase, and substance reasonably acceptable the total aggregate VWAP Purchase Price to be paid by the CompanyInvestor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPEA Period.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Nikola Corp)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its timely delivery to the Buyer Investor of a VWAP Purchase Notice from time to Notice, in substantially the form attached hereto as Exhibit D, after 6:00 a.m., New York City time, and the Buyer thereupon shall have the obligationbut prior to 9:00 a.m., New York City time, on a VWAP Purchase Date, to buy purchase the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of applicable VWAP Purchase Maximum Amount, at the Common Stock applicable VWAP Purchase Price therefor on the such VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at ). In addition, the Investor may, in its sole discretion, accept a VWAP Purchase PriceNotice after 9:00 a.m., New York City time, on a VWAP Purchase Date, provided that such acceptance, once provided, shall be irrevocable and binding and the Company’s obligation to deliver the shares that are the subject of such VWAP Purchase Notice shall be binding. The Company may timely deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which Investor as often as every Trading Day, so long as all Shares subject to all prior VWAP Purchases theretofore required to have been received by the Investor as DWAC Shares under this Agreement have been delivered to the Investor as DWAC Shares in accordance with this Agreement. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company also submitted a in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice for directing the Investor to purchase a Regular VWAP Purchase Share Amount in excess of at least 100,000 the applicable VWAP Purchase Shares Maximum Amount, such VWAP Purchase Notice shall be void ab initio to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on extent of the amount by which the VWAP Purchase Date Share Amount set forth in such VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, and the Investor shall have no obligation to purchase such excess Shares in respect of such VWAP Purchase Notice; provided, however, that the Investor shall remain obligated to purchase the applicable VWAP Purchase Maximum Amount in such VWAP Purchase. Notwithstanding anything in this paragraph to the contrary, in the case where the Sale Price falls below the VWAP Minimum Threshold Price Threshold; in such circumstanceduring a Trading Day, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell is not below the VWAP Minimum Threshold Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell is not below the Threshold Price. Each VWAP Minimum Price ThresholdPurchase Notice must be include a VWAP Purchase Share Estimate. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer Investor an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Shares constituting the applicable VWAP Purchase Shares Share Amount that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the BuyerInvestor, pursuant to any VWAP Purchase, purchase a number of Shares constituting the applicable VWAP Purchase Shares Share Amount that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer Investor will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Shares constituting the applicable VWAP Purchase Shares Share Amount the Buyer Investor actually purchases in connection with such VWAP Purchase. Upon completion In no event shall the Investor, pursuant to any VWAP Purchase, purchase a number of Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice. At or prior to 5:30 p.m., New York City time, on the VWAP Purchase Date for each VWAP Purchase DatePurchase, the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase (each, a “VWAP Purchase Confirmation”) setting forth the applicable VWAP Purchase Price per Share to be paid by the Investor in form such VWAP Purchase, and substance reasonably acceptable the total aggregate VWAP Purchase Price to be paid by the CompanyInvestor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPost-Effective Amendment Period.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Wejo Group LTD)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time only on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 50,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price sale price of the Common Stock falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using the (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price sale price of the Common Stock fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price sale price of the Common Stock fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Medicinova Inc)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s delivery its timely delivery, on a Trading Day, to the Buyer Investor of a VWAP Purchase Notice from time to Notice, after 6:00 a.m., New York City time, and the Buyer thereupon shall have the obligationbut prior to 9:00 a.m., New York City time, on a VWAP Purchase Date, to buy purchase the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of applicable VWAP Purchase Maximum Amount, at the Common Stock applicable VWAP Purchase Price therefor on the such VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may timely deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which Investor as often as every Trading Day, so long as all Shares subject to all prior VWAP Purchases theretofore required to have been received by the Investor as DWAC Shares under this Agreement have been delivered to the Investor as DWAC Shares in accordance with this Agreement. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company also submitted a in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice for directing the Investor to purchase a Regular VWAP Purchase Share Amount in excess of at least 100,000 the applicable VWAP Purchase Shares Maximum Amount, such VWAP Purchase Notice shall be void ab initio to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on extent of the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior Notice exceeds such applicable VWAP Purchase Maximum Amount, and the Investor shall have no obligation to the time purchase, and shall not purchase, such Excess Shares pursuant to such VWAP Purchase Notice; provided, however, that the Sale Price fell below Investor shall remain obligated to purchase the applicable VWAP Minimum Price Threshold and (ii) Purchase Maximum Amount pursuant to such VWAP Purchase. Each VWAP Purchase Notice must include a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price ThresholdShare Estimate. Each VWAP Purchase Notice must be accompanied by irrevocable instructions to the Company’s Transfer Agent transfer agent to immediately issue and deliver to the Buyer Investor an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the BuyerInvestor, pursuant to any VWAP Purchase, purchase (or be deemed to have purchased) a number of Shares constituting the applicable VWAP Purchase Shares Share Amount that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer Investor will immediately promptly instruct the transfer agent to return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Shares constituting the applicable VWAP Purchase Shares Share Amount the Buyer Investor actually purchases in connection with such VWAP PurchasePurchase (such amount, the “Excess Shares”). Upon completion Alternatively, if the transfer agent does not return the Excess Shares to the Company on the VWAP Purchase Date in accordance with the Investor’s instructions, or if otherwise instructed in writing by the Company, the Investor may retain such Excess Shares (provided that the Investor will not be deemed to have purchased such Excess Shares, and such Excess Shares shall be deemed to be treasury shares of the Company), and such Excess Shares will be deemed pre-delivered Shares that will reduce the number of Shares required to be delivered by the Company in accordance with this section on the next VWAP Purchase Date in connection with the next VWAP Purchase Notice; provided, however, that the Company shall have the right, upon delivery of written notice to the Investor at any time, to request that the Investor return all or a portion of such Excess Shares to the Company. At or prior to 7:00 p.m., New York City time, on the VWAP Purchase Date for each VWAP Purchase DatePurchase, the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase setting forth the applicable VWAP Purchase Price per Share to be paid by the Investor in form such VWAP Purchase, and substance reasonably acceptable the total aggregate VWAP Purchase Price to be paid by the CompanyInvestor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPost-Effective Amendment Period.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Boxed, Inc.)

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VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 8.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)8.3, the Company Company, at its sole option and discretion, shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its timely delivery to the Buyer Investor of a VWAP Purchase Notice from time to time, and for a VWAP Purchase on the Buyer thereupon shall have the obligationapplicable Purchase Date therefor, to buy the purchase a specified VWAP Purchase Share Percentage of Amount, which shall not exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum Price therefor on the VWAP such Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may timely deliver to the Investor a VWAP Purchase Notice for a VWAP Purchase on any Trading Day selected by the Company as the Purchase Date for such VWAP Purchase, so long as the Closing Sale Price of the Common Stock on the Trading Day immediately preceding such Purchase Date is not less than the Threshold Price. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the Buyer on or before 5:00 p.m. Eastern time on a date on which satisfaction of the conditions contained in this Agreement. If the Company also submitted a delivers any VWAP Purchase Notice for directing the Investor to purchase a Regular VWAP Purchase Share Amount in excess of at least 100,000 the applicable VWAP Purchase Shares Maximum Amount that the Company is then permitted to include in such VWAP Purchase Notice, such VWAP Purchase Notice shall be void ab initio to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on extent of the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the exceeds such applicable VWAP Purchase Share EstimateMaximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy purchase, and shall not purchase, such excess Shares pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued applicable VWAP Purchase Maximum Amount pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of At or prior to 5:30 p.m., New York City time, on the Purchase Date for each VWAP Purchase DatePurchase, the Buyer Investor shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable provide to the Company, by email correspondence to each of the individual notice recipients of the Company set forth in the applicable VWAP Purchase Notice, a written confirmation for such VWAP Purchase, setting forth the applicable VWAP Purchase Price per Share to be paid by the Investor for the Shares purchased by the Investor in such VWAP Purchase, and the total aggregate VWAP Purchase Price to be paid by the Investor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPEA Period.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Eagle Point Income Co Inc.)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 6.1 (such event, the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)6.2 and 6.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its delivery to the Buyer Investor of a VWAP Purchase Notice from time on a VWAP Purchase Exercise Date to time, and purchase the Buyer thereupon shall have the obligation, to buy the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum on Price therefor (as confirmed in the applicable VWAP Purchase Date Confirmation) in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may deliver to the Investor a VWAP Purchase Notice for a VWAP Purchase on any Trading Day selected by the Company as the VWAP Purchase Exercise Date with respect to such VWAP Purchase, so long as (i) at least three (3) Trading Days have elapsed since the Buyer on or before 5:00 p.m. Eastern time on a date most recent prior VWAP Purchase Exercise Date on which the Company also submitted delivered to the Investor a VWAP Purchase Notice for a Regular prior VWAP Purchase of at least 100,000 pursuant to this Agreement, and (ii) all Shares subject to all prior VWAP Purchase Shares Notices delivered by the Company to the Buyer. A Investor pursuant to this Agreement (if any) have theretofore been received by the Investor or its Broker-Dealer as DWAC Shares, prior to the Company’s delivery to the Investor of such VWAP Purchase shall automatically be deemed completed at Notice for such time on the VWAP Purchase Date on such VWAP Purchase Exercise Date. The Investor is obligated to accept each VWAP Purchase Notice prepared and timely delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Sale Price falls below the VWAP Minimum Price Threshold; Company is then permitted to include in such circumstance, the VWAP Purchase Amount Notice, such VWAP Purchase Notice shall be calculated using (i) void ab initio to the extent of the amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the exceeds such applicable VWAP Purchase Share EstimateMaximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy purchase, and shall not purchase, such excess Shares pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued applicable VWAP Purchase Maximum Amount pursuant to such VWAP Purchase Notice. At or prior to 8:30 a.m., New York City time, on the Trading Day immediately following the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each Valuation Period for a VWAP Purchase (each, a “VWAP Purchase Settlement Date”), the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase in form and substance reasonably acceptable to setting forth the Company. The Company may deliver additional applicable VWAP Purchase Notices Share Amount and the applicable VWAP Purchase Price (both on a per Share basis and the total aggregate VWAP Purchase Price to be paid by the Buyer from time Investor for such applicable VWAP Purchase Share Amount) with respect to time so long as the most recent purchase has been completed. The Company maysuch VWAP Purchase (each, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make a “VWAP PurchasesPurchase Confirmation”).

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Verb Technology Company, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which (i) the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the BuyerBuyer and (ii) the Closing Sale Price is higher than the Floor Price. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP 300,000 Purchase Share Estimate issued on the VWAP Purchase Date Shares in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. Immediately upon the determination of the VWAP Purchase Amount, and upon receipt of the VWAP Purchase Amount by the Company, the Company will issue instructions to the Company’s Transfer Agent to immediately issue to the Buyer that number of VWAP Purchase Shares equal to the VWAP Purchase Amount divided by the VWAP Purchase Price. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Sophiris Bio Inc.)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 6.1 (such event, the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)6.2 and 6.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its delivery to the Buyer Investor of a VWAP Purchase Notice from time on a VWAP Purchase Exercise Date to time, and purchase the Buyer thereupon shall have the obligation, to buy the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum on Price therefor (as confirmed in the applicable VWAP Purchase Date Confirmation) in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at ); provided, however, that the VWAP Purchase Price. The Company Maximum Amount may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate waived by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the BuyerInvestor, pursuant in its sole discretion, at any time with respect to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable upon delivering written notice to the Company. The Company may deliver additional to the Investor a VWAP Purchase Notice on any Trading Day selected by the Company as the VWAP Purchase Exercise Date with respect to such VWAP Purchase, so long as (a) at least three (3) Trading Days have elapsed since the most recent prior VWAP Purchase Exercise Date on which the Company delivered to the Investor a VWAP Purchase Notice for a prior VWAP Purchase pursuant to this Agreement, and (b) all Shares subject to all prior VWAP Purchase Notices delivered by the Company to the Buyer from Investor pursuant to this Agreement (if any) have theretofore been received by the Investor or its Broker-Dealer as DWAC Shares prior to the Company’s delivery to the Investor of such VWAP Purchase Notice; provided, however, that each of the foregoing conditions in this sentence may be waived by the Investor, in its sole discretion, at any time with respect to time so long as the most recent purchase has been completed. The Company mayany VWAP Purchase, by upon delivering written notice to the Buyer, Company. The Investor is obligated to accept each VWAP Purchase Notice prepared and timely delivered by the Company in its sole discretion at any time after accordance with the date terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Company is permitted to include in such VWAP Purchase Notice, irrevocably terminate this Section 1(csuch VWAP Purchase Notice shall be void ab initio to the extent of the amount by which the VWAP Purchase Share Amount set forth in such VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, and the Investor shall have no obligation to purchase, and shall not purchase, such excess Shares pursuant to such VWAP Purchase Notice; provided, however, that the Investor shall remain obligated to purchase the applicable VWAP Purchase Maximum Amount pursuant to such VWAP Purchase Notice. At or prior to 9:30 a.m., New York City time, on the Trading Day immediately following the VWAP Purchase Valuation Period for a VWAP Purchase (each, a “VWAP Purchase Settlement Date”), the Investor shall provide to the Company a written confirmation for such VWAP Purchase setting forth the applicable VWAP Purchase Share Amount and the applicable VWAP Purchase Price (both on a per Share basis and the total aggregate VWAP Purchase Price to be paid by the Investor for such applicable VWAP Purchase Share Amount) and its right with respect to direct the Buyer to make such VWAP PurchasesPurchase (each, a “VWAP Purchase Confirmation”).

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Super League Gaming, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 250,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Remark Holdings, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 1,000,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (iusing(i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Innovation Pharmaceuticals Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which (i) the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the BuyerBuyer and (ii) the Closing Sale Price is higher than $2.00. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Atossa Genetics Inc)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its timely delivery to the Buyer Investor of a VWAP Purchase Notice from time to Notice, after 6:00 a.m., New York City time, and the Buyer thereupon shall have the obligationbut prior to 9:00 a.m., New York City time, on a VWAP Purchase Date, to buy purchase the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of applicable VWAP Purchase Maximum Amount, at the Common Stock applicable VWAP Purchase Price therefor on the applicable VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date in accordance with this Agreement in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may timely deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on Investor as often as every Trading Day, so long as all Shares subject to all prior VWAP Purchases have theretofore been received by the Investor as DWAC Shares under this Agreement. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a date on VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount, such VWAP Purchase Notice shall be void ab initio to the extent of the amount by which the Company also submitted a VWAP Purchase Share Amount set forth in such VWAP Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A exceeds such applicable VWAP Purchase Maximum Amount, and the Investor shall automatically be deemed completed at have no obligation to purchase such time excess Shares in respect of such VWAP Purchase Notice; provided, however, that the Investor shall remain obligated to purchase the applicable VWAP Purchase Maximum Amount in such VWAP Purchase. At or prior to 5:30 p.m., New York City time, on the VWAP Purchase Date that for each VWAP Purchase, the Sale Investor shall provide to the Company a written confirmation for such VWAP Purchase (each, a “VWAP Purchase Confirmation”) setting forth the applicable VWAP Purchase Price falls below per Share to be paid by the VWAP Minimum Price Threshold; Investor in such circumstanceVWAP Purchase, and the total aggregate VWAP Purchase Amount shall Price to be calculated using (i) paid by the Investor for the total VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate Amount purchased by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date Investor in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase DateNotwithstanding the foregoing, the Buyer Company shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPEA Period.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Ashford Hospitality Trust Inc)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 500,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Sorrento Therapeutics, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 50,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Nanosphere Inc)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which (i) the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 200,000 Purchase Shares to the BuyerBuyer and (ii) the Closing Sale Price is higher than $0.50. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Copytele Inc)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time only on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 250,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price sale price of the Common Stock falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using the (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price sale price of the Common Stock fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price sale price of the Common Stock fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, Buyer pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Ener1 Inc)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by its timely delivery to the Investor of a VWAP Purchase Notice for a VWAP Purchase (each, a “VWAP Purchase”), specifying in such VWAP Purchase Notice (a) the VWAP Purchase Percentage for such VWAP Purchase and (b) whether a Limit Order Continue Election or a Limit Order Discontinue Election shall apply to such VWAP Purchase, on the applicable Purchase Date therefor, to purchase a specified VWAP Purchase Share Amount, which shall not exceed the applicable VWAP Purchase Maximum Amount, at the applicable VWAP Purchase Price therefor on such Purchase Date in accordance with this Agreement. The Company may timely deliver to the Investor a VWAP Purchase Notice for a VWAP Purchase on any Trading Day selected by the Company as the Purchase Date for such VWAP Purchase, so long as (i) the Closing Sale Price of the Ordinary Shares on the Trading Day immediately preceding such Purchase Date is not less than the Threshold Price, and (ii) all Shares subject to all prior VWAP Purchases and Intraday VWAP Purchases (as applicable) pursuant to this Agreement have been received by the Investor as DWAC Shares prior to the Company’s delivery to the Buyer Investor of such VWAP Purchase Notice for such VWAP Purchase on such Purchase Date. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the satisfaction of the applicable conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Company is then permitted to include in such VWAP Purchase Notice from time (taking into account the VWAP Purchase Percentage specified by the Company in the applicable VWAP Purchase Notice for such VWAP Purchase), such VWAP Purchase Notice shall be void ab initio to time, and the Buyer thereupon shall have extent of the obligation, to buy amount by which the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each Amount set forth in such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A exceeds such applicable VWAP Purchase shall automatically be deemed completed at such time on Maximum Amount, and the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy purchase, and shall not purchase, such excess Shares pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued applicable VWAP Purchase Maximum Amount pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of At or prior to 5:30 p.m., New York City time, on the Purchase Date for each VWAP Purchase DatePurchase, the Buyer Investor shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable provide to the Company, by email correspondence to each of the individual notice recipients of the Company set forth in the applicable VWAP Purchase Notice, a written confirmation for such VWAP Purchase, setting forth the applicable VWAP Purchase Price per Share to be paid by the Investor for the Shares purchased by the Investor in such VWAP Purchase, and the total aggregate VWAP Purchase Price to be paid by the Investor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company mayPEA Period, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesAllowable Grace Period or MPA Period.

Appears in 1 contract

Samples: Ordinary Share Purchase Agreement (Bitdeer Technologies Group)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which (i) the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the BuyerBuyer and (ii) the Closing Sale Price is higher than $0.50. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Cellceutix CORP)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (as long as such notice is delivered on or before 5:00 p.m. eastern time on the Business Day immediately preceding the VWAP Purchase Date) (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time only on a date on which the Company also submitted a Purchase Notice for a Regular Purchase in an amount equal to the lesser of at least (i) 100,000 Purchase Shares or (ii) a number of Purchase Shares with an aggregate Purchase Amount equal to five hundred thousand dollars ($500,000) to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using using: (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Kips Bay Medical, Inc.)

VWAP Purchases. Subject Commencing on the thirtieth (30th) calendar day immediately after the Commencement Date (or if such thirtieth (30th) calendar day is not a Trading Day, then commencing on the first Trading Day immediately after such thirtieth (30th) calendar day), and from time to time thereafter, subject to the terms satisfaction of all of the conditions set forth in Sections 6.2 and conditions of 6.3 and this AgreementSection 2.2, in addition to purchases the Initial Purchase of the Initial Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)2.1, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its delivery to the Buyer Investor of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligationon a VWAP Purchase Exercise Date, to buy purchase the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum on Price therefor (as confirmed in the applicable VWAP Purchase Date Confirmation) in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may timely deliver a VWAP Purchase Notice to the Buyer Investor on or before 5:00 p.m. Eastern time any Trading Day selected by the Company as the VWAP Purchase Exercise Date for a VWAP Purchase, provided that (i) the Company may not deliver more than one VWAP Purchase Notice to the Investor on a date any single Trading Day, (ii) at least three (3) Trading Days has elapsed since the most recent prior VWAP Purchase Exercise Date on which the Company also submitted has delivered a VWAP Purchase Notice to the Investor pursuant to this Agreement, (iii) the Closing Sale Price of the Common Stock on such VWAP Purchase Exercise Date is not less than the Threshold Price, and (iv) all Shares subject to all prior VWAP Purchase Notices for VWAP Purchases that have been properly delivered by the Company to the Investor under this Agreement (as applicable) have theretofore been received by the Investor or its Broker-Dealer as DWAC Shares, prior to the Company’s delivery of such VWAP Purchase Notice to the Investor on such VWAP Purchase Exercise Date; provided, however, that the Investor may, in its sole discretion, elect to waive satisfaction of any or all of the conditions set forth in clauses (i) through (iv) of this sentence, on any VWAP Purchase Exercise Date on which the Company shall have notified the Investor, via email correspondence delivered to the Investor’s address pursuant to Section 9.4 (receipt of which shall be confirmed by the Investor via email correspondence delivered to the Company’s address pursuant to Section 9.4, other than via auto-reply), that the Company intends to timely deliver a VWAP Purchase Notice to the Investor on such VWAP Purchase Exercise Date, by the Investor’s delivery of a written waiver thereof via email to the Company’s address pursuant to Section 9.4, all of which shall occur prior to the Company’s delivery to the Investor of such VWAP Purchase Notice for a Regular VWAP Purchase hereunder. The Investor is obligated to accept each VWAP Purchase Notice prepared and timely delivered by the Company in accordance with the terms of at least 100,000 Purchase Shares and subject to the Buyersatisfaction or, where legally permissible, the waiver of the conditions contained in this Agreement in accordance with the terms of this Agreement. A If the Company delivers any VWAP Purchase shall automatically be deemed completed at such time on Notice directing the Investor to purchase a VWAP Purchase Date Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Sale Price falls below the VWAP Minimum Price Threshold; Company is then permitted to include in such circumstance, the VWAP Purchase Amount Notice (calculated as of the applicable VWAP Purchase Exercise Date), such VWAP Purchase Notice shall be calculated using (i) void ab initio to the extent of the amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the exceeds such applicable VWAP Purchase Share EstimateMaximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy purchase, and shall not purchase, such excess Shares pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued applicable VWAP Purchase Maximum Amount pursuant to such VWAP Purchase Notice. At or prior to 9:30 a.m., New York City time, on the Trading Day immediately following the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of Valuation Period for each VWAP Purchase (each, a “VWAP Purchase Settlement Date”), the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase in form and substance reasonably acceptable to setting forth the Company. The Company may deliver additional applicable VWAP Purchase Notices Share Amount and the applicable VWAP Purchase Price (both on a per Share basis and the total aggregate VWAP Purchase Price to be paid by the Buyer from time Investor for such applicable VWAP Purchase Share Amount) with respect to time so long as the most recent purchase has been completed. The Company maysuch VWAP Purchase (each, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make a “VWAP PurchasesPurchase Confirmation”).

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Professional Diversity Network, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which (i) the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 200,000 Purchase Shares to the BuyerBuyer and (ii) the Closing Sale Price is higher than $0.40. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (ZBB Energy Corp)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (such event, the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3 and in this Section 3.1, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its delivery to the Buyer Investor of a VWAP Purchase Notice from time on a VWAP Purchase Exercise Date to time, and purchase the Buyer thereupon shall have the obligation, to buy the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum on Price therefor (as confirmed in the applicable VWAP Purchase Date Confirmation) in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may deliver a to the Investor any VWAP Purchase Notice on any VWAP Purchase Exercise Date, provided that: (a) the Company may not deliver more than one VWAP Purchase Notice to the Buyer Investor on or before 5:00 p.m. Eastern time on a date any single Trading Day; (b) at least three (3) Trading Days have elapsed since the Trading Day on which most recent prior VWAP Purchase Notice was delivered by the Company also submitted a to the Investor, in each case pursuant to and in accordance with this Agreement; (c) all Shares subject to all prior VWAP Purchase Notices (as applicable) delivered by the Company to the Investor pursuant to this Agreement (if any) have theretofore been received by the Investor or its designated Broker-Dealer as DWAC Shares; and (d) the Closing Sale Price of the Class A Common Stock on such VWAP Purchase Exercise Date is not less than the Threshold Price. The Investor is obligated to accept each VWAP Purchase Notice for a Regular Purchase prepared and delivered by the Company in accordance with the terms of at least 100,000 Purchase Shares and subject to the Buyersatisfaction of the conditions contained in this Agreement. A If the Company delivers any VWAP Purchase shall automatically be deemed completed at such time on Notice directing the Investor to purchase a VWAP Purchase Date that Share Amount in excess of the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the applicable VWAP Purchase Amount Maximum Amount, such VWAP Purchase Notice shall be calculated using (i) void ab initio to the extent of the amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the exceeds such applicable VWAP Purchase Share EstimateMaximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number such excess Shares in respect of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued pursuant to the applicable VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases Maximum Amount in connection with such VWAP Purchase. Upon completion of At or prior to 9:30 a.m., New York City time, on the Trading Day immediately following the VWAP Purchase Valuation Period for each VWAP Purchase (the “VWAP Purchase Date”), the Buyer Investor shall submit provide to the Company a written confirmation of for such VWAP Purchase confirming the applicable VWAP Purchase Share Amount and the applicable VWAP Purchase Price (both on a per Share basis and the total aggregate VWAP Purchase Price to be paid by the Investor for such applicable VWAP Purchase Share Amount) set forth in the VWAP Purchase in form and substance reasonably acceptable to Notice for such VWAP Purchase (each, a “VWAP Purchase Confirmation”). Notwithstanding the Company. The foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPEA Period.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Inspire Veterinary Partners, Inc.)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its timely delivery to the Buyer Investor of a VWAP Purchase Notice from time for a VWAP Purchase prior to 6:00 a.m., New York City time, and on the Buyer thereupon shall have the obligationapplicable Purchase Date therefor, to buy the purchase a specified VWAP Purchase Share Percentage of Amount, which shall not exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum Price therefor on the VWAP such Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may timely deliver to the Investor a VWAP Purchase Notice to the Buyer for a VWAP Purchase on or before 5:00 p.m. Eastern time on a date on which any Trading Day selected by the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to as the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the for such VWAP Minimum Price Threshold; in such circumstancePurchase, the VWAP Purchase Amount shall be calculated using so long as (i) the VWAP Purchase Share Percentage Closing Sale Price of the aggregate shares traded Ordinary Shares on the Principal Market for Trading Day immediately preceding such portion of the VWAP Purchase Date prior to is not less than the time that the Sale Price fell below the VWAP Minimum Price Threshold Price, and (ii) a all Shares subject to all prior VWAP Purchase Price calculated using Purchases and Intraday VWAP Purchases (as applicable) pursuant to this Agreement have been received by the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date Investor as DWAC Shares prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue delivery to the Buyer an Investor of such VWAP Purchase Notice for such VWAP Purchase on such Purchase Date. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Company is then permitted to include in such VWAP Purchase Notice, such VWAP Purchase Notice shall be void ab initio to the extent of the amount of Common Stock equal to by which the VWAP Purchase Share EstimateAmount set forth in such VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy purchase, and shall not purchase, such excess Shares pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued applicable VWAP Purchase Maximum Amount pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion At or prior to 5:30 p.m., New York City time, on the Purchase Date for each VWAP Purchase, the Investor shall provide to the Company, by email correspondence to each of the individual notice recipients of the Company set forth in the applicable VWAP Purchase Notice, a written confirmation for such VWAP Purchase (each, a “VWAP Purchase Confirmation”), setting forth (A) the applicable VWAP Purchase Price per Share to be paid by the Investor for the Shares purchased by the Investor in such VWAP Purchase, (B) the total aggregate VWAP Purchase Price to be paid by the Investor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase in accordance with Section 3.3(d) below, (C) confirmation that the Investor has subscribed for the total number of Shares constituting such VWAP Purchase Share Amount as set forth in Section 3.3(b) of this Agreement and (D) confirmation that same-day funds in an amount equal to (1) the Issue Price, multiplied by (2) the total number of Shares constituting such VWAP Purchase Share Amount, have been deposited by the Investor in the Capital Increase Account and held for the benefit and account of the Company to enable the Company to effect the issuance and delivery of such Shares as DWAC Shares on the applicable Purchase Share Delivery Date therefor and the payment of the total aggregate VWAP Purchase Price for such Shares by the Investor in accordance with Section 3.3(a) the total amount of such deposit corresponding to the total aggregate nominal value for all of such Shares constituting each VWAP Purchase Share Amount purchased by the Investor on such Purchase Date. Notwithstanding the foregoing, the Buyer Company shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPEA Period.

Appears in 1 contract

Samples: Ordinary Shares Purchase Agreement (Sono Group N.V.)

VWAP Purchases. Subject Upon the initial satisfaction or (to the terms and extent permitted by applicable law) waiver of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b6.1 (the “Commencement”) aboveand the date of initial satisfaction of all of such conditions, with one Business Day’s prior written notice the “Commencement Date”) and from time to time thereafter, subject to the satisfaction or (as long as such notice is delivered on or before 5:00 p.m. Eastern time on to the Business Day immediately preceding extent permitted by applicable law) waiver of the VWAP Purchase Date)conditions set forth in Section 6.2 and Section 6.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its timely delivery to the Buyer Investor of a VWAP Purchase Notice from time to timeNotice, and substantially in the Buyer thereupon shall have the obligationform of Exhibit A, on a VWAP Purchase Exercise Date, to buy purchase a specified VWAP Purchase Share Amount, which shall not exceed the VWAP Purchase Share Percentage of the trading volume of the Common Stock on Maximum Amount, at the VWAP Purchase Date up to Price therefor (as confirmed in the applicable VWAP Purchase Share Volume Maximum Confirmation) on the applicable VWAP Purchase Date for such VWAP Purchase, pursuant to and in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at ); provided, however, that the Company and the Investor may mutually agree to increase the VWAP Purchase PriceMaximum Amount and/or such dollar limit applicable to any VWAP Purchase pursuant to this Agreement. The Company may timely deliver to the Investor a VWAP Purchase Notice for a VWAP Purchase on any Trading Day selected by the Company as the VWAP Purchase Exercise Date for such VWAP Purchase, provided that: (i) the Company may not deliver to the Buyer Investor more than one VWAP Purchase Notice on any single Trading Day (such VWAP Purchase Notice to be delivered in accordance with this Agreement); and (ii) the Closing Sale Price of the Common Stock on such VWAP Purchase Exercise Date is not less than the Threshold Price; provided, however, that the Investor may waive any of the requirements or before 5:00 p.m. Eastern time on restrictions referred to in clause (i) of this sentence with respect to any VWAP Purchase pursuant to this Agreement prior to the delivery by the Company to the Investor of the applicable VWAP Purchase Notice therefor. The Investor is obligated to accept each VWAP Purchase Notice properly prepared and timely delivered by the Company to the Investor in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a date on VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Company is then permitted to include in such VWAP Purchase Notice, such VWAP Purchase Notice shall be void ab initio to the extent of the amount by which the Company also submitted a VWAP Purchase Share Amount set forth in such VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, and the Investor shall have no obligation to purchase, and shall not purchase, such excess Shares pursuant to such VWAP Purchase Notice; provided, however, that the Investor shall remain obligated to purchase the applicable VWAP Purchase Maximum Amount pursuant to such VWAP Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares such VWAP Purchase. At or prior to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time 5:30 p.m., New York time, on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any each VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase substantially in the form and substance reasonably acceptable to the Company. The Company may deliver additional of Exhibit B (each, a “VWAP Purchase Notices Confirmation”), setting forth the applicable VWAP Purchase Price per Share to be paid by the Buyer from time Investor for the Shares purchased by the Investor in such VWAP Purchase, and the total aggregate VWAP Purchase Price to time so long as be paid by the most recent purchase has been completed. The Company may, Investor for the total VWAP Purchase Share Amount purchased by written notice to the Buyer, Investor in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make such VWAP PurchasesPurchase.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Myomo, Inc.)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 6.1 (such event, the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms satisfaction of all of the conditions set forth in Sections 6.2 and conditions of 6.3 and this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)2.1, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its delivery to the Buyer Investor of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligationon a VWAP Purchase Exercise Date, to buy purchase the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum on Price therefor (as confirmed in the applicable VWAP Purchase Date Confirmation) in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may timely deliver a VWAP Purchase Notice to the Buyer Investor on or before 5:00 p.m. Eastern time any Trading Day the Company selects as the VWAP Purchase Exercise Date for a VWAP Purchase, so long as (i) the Closing Sale Price of the Common Stock on a date such VWAP Purchase Exercise Date is not less than the Threshold Price, (ii) at least three (3) Trading Days shall have elapsed since the later of (A) the most recent prior VWAP Purchase Exercise Date on which the Company also submitted has delivered a VWAP Purchase Notice to the Investor pursuant to this Agreement and (B) the most recent prior Alternative VWAP Purchase Exercise Date on which the Company has delivered an Alternative VWAP Purchase Notice to the Investor pursuant to this Agreement, and (iii) all Shares subject to all prior VWAP Purchase Notices and all prior Alternative VWAP Purchase Notices (as applicable) delivered by the Company to the Investor pursuant to this Agreement have been received by the Investor or its Broker-Dealer as DWAC Shares, prior to the Company’s delivery to the Investor of such VWAP Purchase Notice for such VWAP Purchase on such VWAP Purchase Exercise Date; provided, however, that the Investor may, in its sole discretion, elect to waive satisfaction of any one or more of the conditions set forth in clauses (i), (ii) and (iii) of this sentence, on any VWAP Purchase Exercise Date on which the Company shall have notified the Investor, via email correspondence delivered to the Investor’s address pursuant to Section 9.4 (receipt of which shall be confirmed by the Investor via email correspondence delivered to the Company’s address pursuant to Section 9.4, other than via auto-reply), that the Company intends to timely deliver a VWAP Purchase Notice to the Investor on such VWAP Purchase Exercise Date, by the Investor’s delivery of a written waiver thereof via email to the Company’s address pursuant to Section 9.4, all of which shall occur prior to the Company’s delivery to the Investor of such VWAP Purchase Notice for a Regular VWAP Purchase hereunder. For the avoidance of at least 100,000 doubt, the Company may not deliver a VWAP Purchase Shares Notice for a VWAP Purchase and an Alternative VWAP Purchase Notice for an Alternative VWAP Purchase on the same Trading Day. The Investor is obligated to accept each VWAP Purchase Notice prepared and timely delivered by the Company in accordance with the terms of and subject to the Buyersatisfaction or, where legally permissible, the waiver of the conditions contained in this Agreement in accordance with the terms of this Agreement. A If the Company delivers any VWAP Purchase shall automatically be deemed completed at such time on Notice directing the Investor to purchase a VWAP Purchase Date Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Sale Price falls below the VWAP Minimum Price Threshold; Company is then permitted to include in such circumstance, the VWAP Purchase Amount Notice (calculated as of the applicable VWAP Purchase Exercise Date), such VWAP Purchase Notice shall be calculated using (i) void ab initio to the extent of the amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the exceeds such applicable VWAP Purchase Share EstimateMaximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy purchase, and shall not purchase, such excess Shares pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued applicable VWAP Purchase Maximum Amount pursuant to such VWAP Purchase Notice. At or prior to 8:30 a.m., New York City time, on the Trading Day immediately following the Trading Day on which the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each Termination Time for a VWAP Purchase Valuation Period shall occur with respect to a VWAP Purchase hereunder (each, a “VWAP Purchase Settlement Date”), the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase in form and substance reasonably acceptable to setting forth the Company. The Company may deliver additional applicable VWAP Purchase Notices Price (both on a per Share basis and the total aggregate VWAP Purchase Price) to be paid by the Buyer from time Investor for the applicable VWAP Purchase Share Amount with respect to time so long as the most recent purchase has been completed. The Company maysuch VWAP Purchase (each, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make a “VWAP PurchasesPurchase Confirmation”).

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Arcimoto Inc)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (such event, the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3 and in this Section 3.1, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its delivery to the Buyer Investor of a VWAP Purchase Notice from time on a VWAP Purchase Exercise Date to time, and purchase the Buyer thereupon shall have the obligation, to buy the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum on Price therefor (as confirmed in the applicable VWAP Purchase Date Confirmation) in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may deliver to the Investor a VWAP Purchase Notice on a VWAP Purchase Exercise Date, provided that: (a) the Company may not deliver more than one VWAP Purchase Notice to the Buyer Investor on or before 5:00 p.m. Eastern time on a date any single Trading Day; (b) at least three (3) Trading Days has elapsed since the Trading Day on which most recent prior VWAP Purchase Notice was delivered by the Company also submitted a to the Investor, in each case pursuant to and in accordance with this Agreement; (c) all Shares subject to all prior VWAP Purchase Notices (as applicable) delivered by the Company to the Investor pursuant to this Agreement (if any) have theretofore been received by the Investor or its Broker-Dealer as DWAC Shares; and (d) the Closing Sale Price of the Common Stock on such VWAP Purchase Exercise Date is not less than the Threshold Price. The Investor is obligated to accept each VWAP Purchase Notice for a Regular Purchase prepared and delivered by the Company in accordance with the terms of at least 100,000 Purchase Shares and subject to the Buyersatisfaction of the conditions contained in this Agreement. A If the Company delivers any VWAP Purchase shall automatically be deemed completed at such time on Notice directing the Investor to purchase a VWAP Purchase Date Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Sale Price falls below the VWAP Minimum Price Threshold; Company is then permitted to include in such circumstance, the VWAP Purchase Amount Notice, such VWAP Purchase Notice shall be calculated using (i) void ab initio to the extent of the amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the exceeds such applicable VWAP Purchase Share EstimateMaximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number such excess Shares in respect of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued pursuant to the applicable VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases Maximum Amount in connection with such VWAP Purchase. Upon completion of At or prior to 9:30 a.m., New York City time, on the Trading Day immediately following the VWAP Purchase Valuation Period for each VWAP Purchase (the “VWAP Purchase Date”), the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase in form setting forth the applicable VWAP Purchase Share Amount and substance reasonably acceptable the applicable VWAP Purchase Price (both on a per-Share basis and the total aggregate VWAP Purchase Price to be paid by the CompanyInvestor for such applicable VWAP Purchase Share Amount) for such VWAP Purchase (each, a “VWAP Purchase Confirmation”). The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPEA Period.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Expion360 Inc.)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its timely delivery to the Buyer Investor of a VWAP Purchase Notice from time to time, and for a VWAP Purchase on the Buyer thereupon shall have the obligationapplicable Purchase Date therefor, to buy the purchase a specified VWAP Purchase Share Percentage of Amount, which shall not exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum Price therefor on the VWAP such Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may timely deliver to the Investor a VWAP Purchase Notice to the Buyer for a VWAP Purchase on or before 5:00 p.m. Eastern time on a date on which any Trading Day selected by the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to as the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the for such VWAP Minimum Price Threshold; in such circumstancePurchase, the VWAP Purchase Amount shall be calculated using so long as (i) the VWAP Purchase Share Percentage Closing Sale Price of the aggregate shares traded Common Stock on the Principal Market for Trading Day immediately preceding such portion of the VWAP Purchase Date prior to is not less than the time that the Sale Price fell below the VWAP Minimum Price Threshold Price, and (ii) a all Shares subject to all prior VWAP Purchase Price calculated using Purchases and Intraday VWAP Purchases (as applicable) pursuant to this Agreement have been received by the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date Investor as DWAC Shares prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue delivery to the Buyer an Investor of such VWAP Purchase Notice for such VWAP Purchase on such Purchase Date. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Company is then permitted to include in such VWAP Purchase Notice, such VWAP Purchase Notice shall be void ab initio to the extent of the amount of Common Stock equal to by which the VWAP Purchase Share EstimateAmount set forth in such VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy purchase, and shall not purchase, such excess Shares pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued applicable VWAP Purchase Maximum Amount pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of At or prior to 5:30 p.m., New York City time, on the Purchase Date for each VWAP Purchase DatePurchase, the Buyer Investor shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable provide to the Company, by email correspondence to each of the individual notice recipients of the Company set forth in the applicable VWAP Purchase Notice, a written confirmation for such VWAP Purchase, setting forth the applicable VWAP Purchase Price per Share to be paid by the Investor for the Shares purchased by the Investor in such VWAP Purchase, and the total aggregate VWAP Purchase Price to be paid by the Investor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPEA Period.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Rigetti Computing, Inc.)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in set forth in Section 6.2, including an effective Registration Statement filed pursuant to the terms Registration Rights Agreement, on the Commencement Date and from time to time thereafter, and on any business day selected by the Company where the Closing Sale Price on the applicable national market, or quotation service is equal to or greater than $0.10, subject to the satisfaction of all of the conditions of this Agreementset forth in Section 6.3, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)2.1, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its delivery to the Buyer Investor of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligationNotice, to buy purchase the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of applicable VWAP Purchase Maximum Amount, at the Common Stock applicable VWAP Purchase Price therefor on the applicable VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at ); provided, however, that the Investor’s aggregate committed obligation under a VWAP Purchase Priceand all Additional VWAP Purchases shall not exceed $5,000,000 in the aggregate for such VWAP Purchase and all such Additional VWAP Purchases, collectively. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time Investor only (i) on a date Trading Day on which the Company also properly submitted a Fixed Purchase Notice providing for a Regular Fixed Purchase of at least 100,000 an amount of Shares not less than the applicable Fixed Purchase Maximum Amount (calculated as of the applicable Fixed Purchase Date) and (ii) if all Shares subject to all prior Fixed Purchase Notices, VWAP Purchase Notices, and Additional VWAP Purchase Notices (as applicable) have theretofore been received by the Investor as DWAC Shares. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the Buyersatisfaction of the conditions contained in this Agreement. A If the Company delivers any VWAP Purchase shall automatically be deemed completed at such time on Notice directing the Investor to purchase a VWAP Purchase Date Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Sale Price falls below the VWAP Minimum Price Threshold; Company is then permitted to include in such circumstance, the VWAP Purchase Amount Notice, such VWAP Purchase Notice shall be calculated using (i) void ab initio to the extent of the amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the exceeds such applicable VWAP Purchase Share EstimateMaximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number such excess Shares in respect of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued pursuant to the applicable VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases Maximum Amount in connection with such VWAP Purchase. Upon completion of At or prior to 9:30 a.m., New York City time, on the Trading Day immediately following the VWAP Purchase Date for each VWAP Purchase DatePurchase, the Buyer Investor shall submit provide to the Company a written confirmation of the such VWAP Purchase in form and substance reasonably acceptable to setting forth the Company. The Company may deliver additional applicable VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company mayShare Amount and VWAP Purchase Price for such VWAP Purchase (each, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make a “VWAP PurchasesPurchase Confirmation”).

Appears in 1 contract

Samples: Common Stock Purchase Agreement (cbdMD, Inc.)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3 and in this Section 3.1, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its delivery to the Buyer Investor of a VWAP Purchase Notice from time on a VWAP Purchase Exercise Date to time, and purchase the Buyer thereupon shall have the obligation, to buy the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum on the VWAP Purchase Date Price therefor in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time Investor on a date on which VWAP Purchase Exercise Date, provided that (i) the Company also submitted a may not deliver more than one VWAP Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A Investor on any single Trading Day, (ii) the Company may not deliver a VWAP Purchase shall automatically be deemed completed at such time Notice to the Investor on any Trading Day during the period commencing on the VWAP Purchase Exercise Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the on which a prior VWAP Purchase Notice has previously been delivered by the Company to the Investor hereunder, and ending on the applicable VWAP Purchase Settlement Date or such later Trading Day on which the Investor shall have received all of the Shares subject to such prior VWAP Purchase Notice as DWAC Shares, and (iii) all Shares subject to all prior VWAP Purchase Notices previously delivered by the Company to the Investor have in fact been received by the Investor as DWAC Shares prior to the Company’s delivery of such VWAP Purchase Notice to the Investor on such VWAP Purchase Exercise Date. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount, such VWAP Purchase Notice shall be calculated using (i) void ab initio to the extent of the amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the exceeds such applicable VWAP Purchase Share EstimateMaximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number such excess Shares in respect of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued pursuant to the applicable VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases Maximum Amount in connection with such VWAP Purchase. Upon completion At or prior to 7:00 p.m., New York City time, on the last Trading Day of the applicable VWAP Purchase Valuation Period for each VWAP Purchase DatePurchase, the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase (each, a “VWAP Purchase Confirmation”) setting forth the applicable VWAP Purchase Price per Share to be paid by the Investor in form such VWAP Purchase, and substance reasonably acceptable the total aggregate VWAP Purchase Price to be paid by the CompanyInvestor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPEA Period.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Nikola Corp)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3 and in this Section 3.1, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its timely delivery to the Buyer Investor of a VWAP Purchase Notice from time on a VWAP Purchase Exercise Date to time, and the Buyer thereupon shall have the obligation, to buy purchase the VWAP Purchase Share Percentage of Amount set forth by the trading volume of Company therein, not to exceed the Common Stock on applicable VWAP Purchase Maximum Amount, at the VWAP Purchase Date up to Price therefor (as confirmed in the applicable VWAP Purchase Share Volume Maximum on the VWAP Purchase Date Confirmation) in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may deliver a VWAP Purchase Notice to the Buyer Investor on or before 5:00 p.m. Eastern time on a date on which any Trading Day selected by the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on as the VWAP Purchase Exercise Date for a VWAP Purchase, provided that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the Company may not deliver more than one VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior Notice to the time that the Sale Price fell below the VWAP Minimum Price Threshold and Investor on any single Trading Day, (ii) a VWAP Purchase Price calculated using at least three (3) Trading Days has elapsed since the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date Trading Day on which most recent prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied was delivered by instructions the Company to the Investor pursuant to and in accordance with this Agreement, (iii) the Closing Sale Price of the Common Stock on such VWAP Purchase Exercise Date is not less than the Threshold Price, and (iv) all Shares subject to all prior VWAP Purchase Notices for VWAP Purchases that have been properly delivered by the Company to the Investor under this Agreement (as applicable) have theretofore been received by the Investor or its Broker-Dealer as DWAC Shares, prior to the Company’s Transfer Agent to immediately issue delivery of such VWAP Purchase Notice to the Buyer an Investor on such VWAP Purchase Exercise Date. The Investor is obligated to accept each VWAP Purchase Notice prepared and timely delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Company is then permitted to include in such VWAP Purchase Notice, such VWAP Purchase Notice shall be void ab initio to the extent of the amount of Common Stock equal to by which the VWAP Purchase Share EstimateAmount set forth in such VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy purchase, and shall not purchase, such excess Shares pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued applicable VWAP Purchase Maximum Amount pursuant to such VWAP Purchase Notice. At or prior to 9:30 a.m., New York City time, on the Trading Day immediately following the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of Valuation Period for each VWAP Purchase (each, a “VWAP Purchase Settlement Date”), the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase in form setting forth the applicable VWAP Purchase Share Amount and substance reasonably acceptable the applicable VWAP Purchase Price (both on a per Share basis and the total aggregate VWAP Purchase Price to be paid by the CompanyInvestor for such applicable VWAP Purchase Share Amount) with respect to such VWAP Purchase (each, a “VWAP Purchase Confirmation”). The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at PEA Period or during any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesAllowable Grace Period.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Signing Day Sports, Inc.)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.1 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.2, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its timely delivery to the Buyer Investor of a VWAP Purchase Notice from time to Notice, after 6:00 a.m., New York City time, and the Buyer thereupon shall have the obligationbut prior to 9:00 a.m., New York City time, on a VWAP Purchase Date, to buy purchase the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of applicable VWAP Purchase Maximum Amount, at the Common Stock applicable VWAP Purchase Price therefor on the such VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may timely deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which Investor as often as every Trading Day, so long as all Shares subject to all prior VWAP Purchases theretofore required to have been received by the Investor as DWAC Shares under this Agreement have been delivered to the Investor as DWAC Shares in accordance with this Agreement. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company also submitted a in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice for directing the Investor to purchase a Regular VWAP Purchase Share Amount in excess of at least 100,000 the applicable VWAP Purchase Shares Maximum Amount, such VWAP Purchase Notice shall be void ab initio to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on extent of the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior Notice exceeds such applicable VWAP Purchase Maximum Amount, and the Investor shall have no obligation to the time purchase, and shall not purchase, such Excess Shares pursuant to such VWAP Purchase Notice; provided, however, that the Sale Price fell below Investor shall remain obligated to purchase the applicable VWAP Minimum Price Threshold and (ii) Purchase Maximum Amount pursuant to such VWAP Purchase. Each VWAP Purchase Notice must include a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price ThresholdShare Estimate. Each VWAP Purchase Notice must be accompanied by irrevocable instructions to the Company’s Transfer Agent agent to immediately issue and deliver to the Buyer Investor an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the BuyerInvestor, pursuant to any VWAP Purchase, purchase (or be deemed to have purchased) a number of Shares constituting the applicable VWAP Purchase Shares Share Amount that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer Investor will immediately promptly instruct the Transfer agent to return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Shares constituting the applicable VWAP Purchase Shares Share Amount the Buyer Investor actually purchases in connection with such VWAP PurchasePurchase (such amount, the “Excess Shares”). Upon completion Alternatively, if the transfer agent does not return the Excess Shares to the Company on the VWAP Purchase Date in accordance with the Investor’s instructions, or if otherwise instructed in writing by the Company, the Investor may retain such Excess Shares (provided that the Investor will not be deemed to have purchased such Excess Shares, and such Excess Shares shall be deemed to be treasury shares of the Company), and such Excess Shares will be deemed pre-delivered Shares that will reduce the number of Shares required to be delivered by the Company in accordance with this section on the next VWAP Purchase Date in connection with the next VWAP Purchase Notice; provided, however, that the Company shall have the right, upon delivery of written notice to the Investor at any time, to request that the Investor return all or a portion of such Excess Shares to the Company. At or prior to 7:00 p.m., New York City time, on the VWAP Purchase Date for each VWAP Purchase DatePurchase, the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase setting forth the applicable VWAP Purchase Price per Share to be paid by the Investor in form such VWAP Purchase, and substance reasonably acceptable the total aggregate VWAP Purchase Price to be paid by the CompanyInvestor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPost-Effective Amendment Period.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (PishPosh, Inc.)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its timely delivery to the Buyer Investor of a VWAP Purchase Notice from time to Notice, after 6:00 a.m., New York City time, and the Buyer thereupon shall have the obligationbut prior to 9:00 a.m., New York City time, on a VWAP Purchase Date, to buy purchase the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of applicable VWAP Purchase Maximum Amount, at the Common Stock applicable VWAP Purchase Price therefor on the such VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may timely deliver a VWAP Purchase Notice to the Buyer Investor as often as every Trading Day, so long as (i) the Closing Sale Price of the Common Stock on or before 5:00 p.m. Eastern time on the Trading Day immediately preceding such Trading Day is not less than the Threshold Price, and (ii) all Shares subject to all prior VWAP Purchases theretofore required to have been received by the Investor as DWAC Shares under this Agreement have been delivered to the Investor as DWAC Shares in accordance with this Agreement. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a date on VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount, such VWAP Purchase Notice shall be void ab initio to the extent of the amount by which the Company also submitted a VWAP Purchase Share Amount set forth in such VWAP Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A exceeds such applicable VWAP Purchase Maximum Amount, and the Investor shall automatically be deemed completed at have no obligation to purchase, and shall not purchase, such time excess Shares pursuant to such VWAP Purchase Notice; provided, however, that the Investor shall remain obligated to purchase the applicable VWAP Purchase Maximum Amount pursuant to such VWAP Purchase. At or prior to 5:30 p.m., New York City time, on the VWAP Purchase Date that for each VWAP Purchase, the Sale Investor shall provide to the Company a written confirmation for such VWAP Purchase (each, a “VWAP Purchase Confirmation”) setting forth the applicable VWAP Purchase Price falls below per Share to be paid by the VWAP Minimum Price Threshold; Investor in such circumstanceVWAP Purchase, and the total aggregate VWAP Purchase Amount shall Price to be calculated using (i) paid by the Investor for the total VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate Amount purchased by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date Investor in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase DateNotwithstanding the foregoing, the Buyer Company shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPEA Period.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Cinedigm Corp.)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 on the Commencement Date and from time to time thereafter, subject to the terms satisfaction of all of the conditions set forth in Section 7.3 and conditions of in this AgreementSection 3.2, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)3.1, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its delivery to the Buyer Investor of a VWAP Purchase Notice from time on a VWAP Purchase Exercise Date to time, and purchase the Buyer thereupon shall have the obligation, to buy the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum on Price therefor (as confirmed in the applicable VWAP Purchase Date Confirmation) in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time Investor on a date VWAP Purchase Exercise Date, so long as (i) at least three (3) Trading Days has elapsed since the later of (A) the Trading Day on which the Company also submitted a most recent prior Fixed Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares was delivered by the Company to the Buyer. A Investor and (B) the Trading Day on which most recent prior VWAP Purchase shall automatically be deemed completed at such time Notice was delivered by the Company to the Investor, in each case pursuant to and in accordance with this Agreement, and (ii) all Shares subject to all prior Fixed Purchase Notices and VWAP Purchase Notices (as applicable) delivered by the Company to the Investor pursuant to this Agreement have theretofore been received by the Investor as DWAC Shares. For the avoidance of doubt, the Company may not deliver a Fixed Purchase Notice and a VWAP Purchase Notice on the same Trading Day. The Investor is obligated to accept each VWAP Purchase Date Notice prepared and timely delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Sale Price falls below the VWAP Minimum Price Threshold; Company is then permitted to include in such circumstance, the VWAP Purchase Amount Notice, such VWAP Purchase Notice shall be calculated using (i) void ab initio to the extent of the amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the exceeds such applicable VWAP Purchase Share EstimateMaximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy purchase, and shall not purchase, such excess Shares pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued applicable VWAP Purchase Maximum Amount pursuant to such VWAP Purchase Notice. At or prior to 9:30 a.m., New York City time, on the Trading Day immediately following the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of Valuation Period for each VWAP Purchase (each, a “VWAP Purchase Settlement Date”), the Buyer Investor shall submit provide to the Company a written confirmation of the for such VWAP Purchase in form setting forth the applicable VWAP Purchase Share Amount and substance reasonably acceptable the applicable VWAP Purchase Price (both on a per Share basis and the total aggregate VWAP Purchase Price to be paid by the CompanyInvestor for such applicable VWAP Purchase Share Amount) with respect to such VWAP Purchase (each, a “VWAP Purchase Confirmation”). The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesPEA Period.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (SCWorx Corp.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which (i) the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 200,000 Purchase Shares to the BuyerBuyer and (ii) the Closing Sale Price is higher than $0.50. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Mobiquity Technologies, Inc.)

VWAP Purchases. Subject Upon the initial satisfaction or waiver of all of the conditions set forth in set forth in Section 6.2, on the Commencement Date and from time to time thereafter, and on any business day selected by the Company where the Closing Sale Price on the applicable national market, or quotation service is equal to or greater than $5.00, subject to the terms and satisfaction of all of the conditions of this Agreementset forth in Section 6.3, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)2.1, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its delivery to the Buyer Investor of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligationNotice, to buy purchase the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of applicable VWAP Purchase Maximum Amount, at the Common Stock applicable VWAP Purchase Price therefor on the applicable VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at ); provided, however, that the Investor’s aggregate committed obligation under a VWAP Purchase Priceand all Additional VWAP Purchases shall not exceed $10,000,000 in the aggregate for such VWAP Purchase and all such Additional VWAP Purchases, collectively. The Company may deliver a VWAP Purchase Notice Notice, in the Form attached hereto as Annex 2.2, to the Buyer on or before 5:00 p.m. Eastern time Investor only (i) on a date Trading Day on which the Company also properly submitted a Fixed Purchase Notice providing for a Fixed Purchase of an amount of Shares not less than the applicable Fixed Purchase Maximum Amount (calculated as of the applicable Fixed Purchase Date), (ii) if all Shares subject to all prior Fixed Purchase Notices, VWAP Purchase Notices, and Additional VWAP Purchase Notices (as applicable) have theretofore been received by the Investor as DWAC Shares and (iii) 300% of the number of Shares directed by the Company to be purchased by the Investor pursuant to the corresponding Fixed Purchase Notice for a Regular the corresponding Fixed Purchase of at least 100,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on have traded since the VWAP Purchase Date Commencement Time. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Sale Price falls below the VWAP Minimum Price Threshold; Company is then permitted to include in such circumstance, the VWAP Purchase Amount Notice, such VWAP Purchase Notice shall be calculated using (i) void ab initio to the extent of the amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the exceeds such applicable VWAP Purchase Share EstimateMaximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number such excess Shares in respect of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will Investor shall remain obligated to purchase the applicable VWAP Purchase Maximum Amount in such VWAP Purchase At or prior to 9:30 a.m., New York City time, on the Trading Day immediately return to the Company any amount of Common Stock issued pursuant to following the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such Date for each VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer Investor shall submit provide to the Company a written confirmation of the such VWAP Purchase in form and substance reasonably acceptable to setting forth the Company. The Company may deliver additional applicable VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company mayShare Amount and VWAP Purchase Price for such VWAP Purchase (each, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make a “VWAP PurchasesPurchase Confirmation”).

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Annovis Bio, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Apricus Biosciences, Inc.)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in set forth in Section 6.2, on the Commencement Date and from time to time thereafter, and on any business day selected by the Company where the Closing Sale Price on the applicable national market, or quotation service is equal to or greater than $0.20, subject to the terms and satisfaction of all of the conditions of this Agreementset forth in Section 6.3, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)2.1, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its delivery to the Buyer Investor of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligationNotice, to buy purchase the applicable VWAP Purchase Share Percentage of Amount, not to exceed the trading volume of applicable VWAP Purchase Maximum Amount, at the Common Stock applicable VWAP Purchase Price therefor on the applicable VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at ); provided, however, that the Investor’s aggregate committed obligation under a VWAP Purchase Priceand all Additional VWAP Purchases shall not exceed $1,000,000 in the aggregate for such VWAP Purchase and all such Additional VWAP Purchases, collectively. The Company may deliver a VWAP Purchase Notice Notice, in the Form attached hereto as Annex 2.2, to the Buyer on or before 5:00 p.m. Eastern time Investor only (i) on a date Trading Day on which the Company also properly submitted a Fixed Purchase Notice providing for a Regular Fixed Purchase of at least 100,000 an amount of Shares not less than the applicable Fixed Purchase Maximum Amount (calculated as of the applicable Fixed Purchase Date) and (ii) if all Shares subject to all prior Fixed Purchase Notices, VWAP Purchase Notices, and Additional VWAP Purchase Notices (as applicable) have theretofore been received by the Investor as DWAC Shares. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the Buyersatisfaction of the conditions contained in this Agreement. A If the Company delivers any VWAP Purchase shall automatically be deemed completed at such time on Notice directing the Investor to purchase a VWAP Purchase Date Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Sale Price falls below the VWAP Minimum Price Threshold; Company is then permitted to include in such circumstance, the VWAP Purchase Amount Notice, such VWAP Purchase Notice shall be calculated using (i) void ab initio to the extent of the amount by which the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for Amount set forth in such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the exceeds such applicable VWAP Purchase Share EstimateMaximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number such excess Shares in respect of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will Investor shall remain obligated to purchase the applicable VWAP Purchase Maximum Amount in such VWAP Purchase At or prior to 9:30 a.m., New York City time, on the Trading Day immediately return to the Company any amount of Common Stock issued pursuant to following the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such Date for each VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer Investor shall submit provide to the Company a written confirmation of the such VWAP Purchase in form and substance reasonably acceptable to setting forth the Company. The Company may deliver additional applicable VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company mayShare Amount and VWAP Purchase Price for such VWAP Purchase (each, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make a “VWAP PurchasesPurchase Confirmation”).

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Navidea Biopharmaceuticals, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (as long as such notice is delivered on or before 5:00 p.m. eastern time on the Business Day immediately preceding the VWAP Purchase Date) (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time only on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price sale price of the Common Stock falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price sale price of the Common Stock fell below the VWAP Minimum Price Threshold and (ii) a the VWAP Purchase Price shall be calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price sale price of the Common Stock fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, Buyer pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (NeoStem, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, on any given Business Day with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Ritter Pharmaceuticals Inc)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date), the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 250,000 Purchase Shares to the Buyer. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Ocean Power Technologies, Inc.)

VWAP Purchases. Subject Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement” and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time thereafter, subject to the terms and satisfaction of all of the conditions of this Agreement, in addition to purchases of Purchase Shares as described set forth in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)7.3, the Company shall also have the right right, but not the obligation obligation, to direct the Buyer Investor, by the Company’s its timely delivery to the Buyer Investor of a VWAP Purchase Notice from time to time, and for a VWAP Purchase on the Buyer thereupon shall have the obligationapplicable Purchase Date therefor, to buy the purchase a specified VWAP Purchase Share Percentage of Amount, which shall not exceed the trading volume of the Common Stock on the applicable VWAP Purchase Date up to Maximum Amount, at the applicable VWAP Purchase Share Volume Maximum Price therefor on the VWAP such Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price). The Company may timely deliver to the Investor a VWAP Purchase Notice to the Buyer for a VWAP Purchase on or before 5:00 p.m. Eastern time on a date on which any Trading Day selected by the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to as the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the for such VWAP Minimum Price Threshold; in such circumstancePurchase, the VWAP Purchase Amount shall be calculated using so long as (i) the VWAP Purchase Share Percentage Closing Sale Price of the aggregate shares traded Ordinary Shares on the Principal Market for Trading Day immediately preceding such portion of the VWAP Purchase Date prior to is not less than the time that the Sale Price fell below the VWAP Minimum Price Threshold Price, and (ii) a all Shares subject to all prior VWAP Purchase Price calculated using Purchases and Intraday VWAP Purchases (as applicable) pursuant to this Agreement have been received by the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date Investor as DWAC Shares prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue delivery to the Buyer an Investor of such VWAP Purchase Notice for such VWAP Purchase on such Purchase Date. The Investor is obligated to accept each VWAP Purchase Notice prepared and delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable VWAP Purchase Maximum Amount that the Company is then permitted to include in such VWAP Purchase Notice, such VWAP Purchase Notice shall be void ab initio to the extent of the amount of Common Stock equal to by which the VWAP Purchase Share EstimateAmount set forth in such VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, a good faith estimate by and the Company of the number of Purchase Shares that the Buyer Investor shall have the no obligation to buy purchase, and shall not purchase, such excess Shares pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; provided, however, that the Buyer will immediately return Investor shall remain obligated to purchase the Company any amount of Common Stock issued applicable VWAP Purchase Maximum Amount pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of At or prior to 5:30 p.m., New York City time, on the Purchase Date for each VWAP Purchase DatePurchase, the Buyer Investor shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable provide to the Company, by email correspondence to each of the individual notice recipients of the Company set forth in the applicable VWAP Purchase Notice, a written confirmation for such VWAP Purchase, setting forth the applicable VWAP Purchase Price per Share to be paid by the Investor for the Shares purchased by the Investor in such VWAP Purchase, and the total aggregate VWAP Purchase Price to be paid by the Investor for the total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. The Notwithstanding the foregoing, the Company may shall not deliver additional any VWAP Purchase Notices to the Buyer from time to time so long as Investor during the most recent purchase has been completed. The Company mayPEA Period, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP PurchasesAllowable Grace Period or any MPA Period.

Appears in 1 contract

Samples: Ordinary Shares Purchase Agreement (Pagaya Technologies Ltd.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time on a date on which (i) the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the BuyerBuyer and (ii) the Closing Sale Price is higher than $0.50. The share amount in the prior sentence shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Westwater Resources, Inc.)

VWAP Purchases. Subject to the terms and conditions of this Agreement, in addition to purchases of Purchase Shares as described in Section 1(b) above, with one Business Day’s prior written notice (as long as such notice is delivered on or before 5:00 p.m. Eastern time on the Business Day immediately preceding the VWAP Purchase Date)notice, the Company shall also have the right but not the obligation to direct the Buyer by the Company’s delivery to the Buyer of a VWAP Purchase Notice from time to time, and the Buyer thereupon shall have the obligation, to buy the VWAP Purchase Share Percentage of the trading volume of the Common Stock on the VWAP Purchase Date up to the VWAP Purchase Share Volume Maximum on the VWAP Purchase Date (each such purchase, a “VWAP Purchase”) at the VWAP Purchase Price. The Company may deliver a VWAP Purchase Notice to the Buyer on or before 5:00 p.m. Eastern time only on a date on which the Company also submitted a Purchase Notice for a Regular Purchase of at least 100,000 Purchase Shares to the Buyer. A VWAP Purchase shall automatically be deemed completed at such time on the VWAP Purchase Date that the Sale Price sale price of the Common Stock falls below the VWAP Minimum Price Threshold; in such circumstance, the VWAP Purchase Amount shall be calculated using the (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion of the VWAP Purchase Date prior to the time that the Sale Price sale price of the Common Stock fell below the VWAP Minimum Price Threshold and (ii) a VWAP Purchase Price calculated using the volume weighted average price of Common Stock sold during such portion of the VWAP Purchase Date prior to the time that the Sale Price sale price of the Common Stock fell below the VWAP Minimum Price Threshold. Each VWAP Purchase Notice must be accompanied by instructions to the Company’s Transfer Agent to immediately issue to the Buyer an amount of Common Stock equal to the VWAP Purchase Share Estimate, a good faith estimate by the Company of the number of Purchase Shares that the Buyer shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Buyer, Buyer pursuant to any VWAP Purchase, purchase a number of Purchase Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Buyer will immediately return to the Company any amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Purchase Shares the Buyer actually purchases in connection with such VWAP Purchase. Upon completion of each VWAP Purchase Date, the Buyer shall submit to the Company a confirmation of the VWAP Purchase in form and substance reasonably acceptable to the Company. The Company may deliver additional VWAP Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The Company may, by written notice to the Buyer, in its sole discretion at any time after the date of this Agreement, irrevocably terminate this Section 1(c) and its right to direct the Buyer to make VWAP Purchases.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Comverge, Inc.)

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