Commitment Shares definition

Commitment Shares shall have the meaning set forth in Section 12.04.

Commitment Shares means 221,218 shares of duly authorized, validly issued, fully paid and non-assessable shares of Common Stock which, concurrently with the execution and delivery of this Agreement on the Effective Date, the Company has caused its transfer agent to electronically transfer to the Investor not later than 4:00 p.m. (New York time) on the second Trading Day immediately following the Effective Date.

Commitment Shares shall have the meaning set forth in Section 9.10(i).

Examples of Commitment Shares in a sentence

• For the avoidance of doubt, all of the Commitment Shares shall be fully earned as of the Execution Date, and the issuance of the Commitment Shares is not contingent upon any other event or condition, including, without limitation, the Company’s submission of a Purchase Notice to the Investor, the filing of a Registration Statement, and irrespective of any termination of this Agreement.

• The Company shall include on the Registration Statement filed with the SEC, all Commitment Shares, provided that, in addition to all other remedies at law or in equity or otherwise under this Agreement, failure to do so will result in liquidated damages of $312,500.00, being immediately due and payable to the Investor at its election in the form of cash payment.

• Notwithstanding the forgoing, it is hereby acknowledged and agreed that the entire amount of the Commitment Shares shall be fully earned by the Investor and shall be non-refundable as of the Execution Date, regardless of whether any Purchase Notices are issued or settled hereunder or any subsequent termination of this Agreement.

• Either party may terminate this Agreement at any time in the event of a material breach of the Agreement by the other party, which shall be effected by written notice being sent by non-breaching party to the breaching party, provided however, that the Company shall have effectively delivered the Commitment Shares to the Investor prior to any such termination.

• In consideration for the Investor’s execution and delivery of, and agreement to perform under this Agreement, the Company shall cause the Transfer Agent to issue an amount shares of Common Stock equal to $312,500 divided by the closing price of the common stock on the Commitment Shares Determination Date (the “Commitment Shares”) to the Investor as a commitment fee.

More Definitions of Commitment Shares

Commitment Shares means the Initial Commitment Shares and the Additional Commitment Shares.

Commitment Shares shall have the meaning ascribed to it in the Investment Agreement.

Commitment Shares means the shares of Common Stock to be issued by the Company to the Purchaser pursuant to Section 2.1(d).

Commitment Shares shall have the meaning set forth in Section 6.4.

Commitment Shares means the 110,000 shares of the Restricted Company’s common stock as a commitment fee hereunder, issued to the Investor or Investor’s designee.

Commitment Shares means, collectively, the Initial Commitment Shares and the Additional Commitment Shares.

Commitment Shares means 9,800,000 shares of Common Stock issued by the Company to the Investor pursuant to Section 6.5.