Draw Down Terms. Subject to the satisfaction of the conditions set forth in this Agreement, the parties agree as follows:
Draw Down Terms. Subject to the satisfaction of the conditions set forth in this Agreement, and subject to Section 6.02 below, the Parties agree (unless otherwise mutually agreed upon by the Parties in writing) as follows:
Draw Down Terms. (a) Each Purchaser must inform the Company by delivering on or before August 31, 2014, a Draw Down Notice, in the form of Exhibit B hereto (the “Draw Down Notice”), via facsimile or email transmission in accordance with Section 7.3, as to the dollar amount of the Purchaser’s proposed Draw Down (the “Purchaser Draw Down Amount”) such Purchaser wishes to exercise; provided, however, that any Draw Down must be for at least the Minimum Dollar Amount.
Draw Down Terms. Subject to the satisfaction of the conditions set forth in Section 3 hereof, the parties agree as follows:
Draw Down Terms. Subject to the satisfaction of the conditions set forth in this Agreement, the parties agree as follows: (a) The Company, may, in its sole discretion, issue a notice to the Purchaser of the Company's intent to sell Shares to the Purchaser (a "Draw Down") during each Draw Down Pricing Period, which Draw Down the Purchaser is obligated to accept. (b) Only one Draw Down shall be allowed in each Draw Down Pricing Period. The price per share paid by the Purchaser shall be the Average Daily Price on each separate Trading Day during the Draw Down Pricing Period. The number of shares of Common Stock purchased by the Purchaser with respect to each Draw Down shall be determined on a daily basis during each Draw Down Pricing Period and settled on, (i) as to the 1st through the 11th Trading Days after a Draw Down Pricing Period commences, on the 13th Trading Day after a Draw Down Pricing Period commences, and (ii) as to the 12th through the 22nd Trading Days after a Draw Down Pricing Period commences, the 24th Trading Day after a Draw Down Pricing Period (each, a "Draw Down Exercise Date"). In connection with each Draw Down Pricing Period, the Company may set an Average Daily Price below which the Company will not sell any Shares (the "Threshold Price"). If the Average Daily Price on any day within the Draw Down Pricing Period is less than the Threshold Price, the Company shall not sell and the Purchaser shall not be obligated to purchase the Shares otherwise to be purchased for such day. The Company shall have the right to issue and exercise a Draw Down of up to (i) as to the first Draw Down only, $2,000,000 (ii) as to all subsequent Draw Downs, $1,0000,000 per Draw Down of the Company's Common. Each Draw Down is subject to the limitations set forth immediately below, until the aggregate amount purchased under this Agreement equals Ten Million Dollars ($10,000,000). (c) The minimum Draw Down shall be $250,000, except that if the remaining Commitment Amount is less than $250,000, the Investment Amount (as defined below) shall be equal to such remaining Commitment Amount. (d) The maximum dollar amount of each Draw Down during any Draw Down Pricing Period shall be limited pursuant to the following formula: Average Stock Price: Average of the Average Daily Prices for the 22 Trading Days prior to the Draw Down Notice date. Average Trading Volume: Average daily trading volume for the 45 Trading Days prior to the Draw Down Notice date. Maximum dollar amount of each Draw Dow...
Draw Down Terms. 5.1 Subject to the satisfaction of the conditions and subject to the limitations set forth in this Agreement:
Draw Down Terms. Subject to the terms and conditions set forth in this Agreement, the parties agree as follows:
Draw Down Terms. Section 5.1.
Draw Down Terms. Section 6.1 of the Purchase Agreement is hereby amended by deleting the section in its entirety and substituting, in lieu thereof, the following:
Draw Down Terms. Section 6.1
