Common use of Purchase and Sale of Purchased Shares Clause in Contracts

Purchase and Sale of Purchased Shares. On the Closing Date (as hereinafter defined) and upon the terms and subject to the conditions set forth in this Agreement, (a) Mxxxxxx Xxxxxxx shall sell, assign, transfer, convey and deliver to the Purchaser, and the Purchaser shall purchase and accept from Mxxxxxx Xxxxxxx, the MS Purchased Shares, and (b) Rxxxxx Xxxxxxx shall sell, assign, transfer, convey and deliver to the Purchaser, and the Purchaser shall purchase and accept from Rxxxxx Xxxxxxx, the RS Purchased Shares, such that immediately after giving effect to the transactions contemplated hereby, the Purchaser will own approximately 40.35% of the shares of the Company’s Common Stock and the Sellers will collectively own approximately 9.95% of the shares of the Company’s Common Stock, in each case on a fully diluted basis.