Regular Purchase Share Limit

Regular Purchase Share Limit. The Regular Purchase Share Limit shall equal the maximum number of Purchase Shares which would enable the Company to deliver to the Investor a Purchase Notice for a Purchase Amount equal to, or as closely approximating, but without exceeding, One Hundred and Four Thousand Dollars ($104,000); and unless excluded herein, such number of Purchase Shares and price per share to be adjusted following any reorganization, recapitalization, non-cash dividend, stock split, reverse stock, split or other... similar transaction effected with respect to the Common Stock. View More

Regular Purchase Share Limit. Means two hundred fifty thousand (250,000) Purchase Shares; provided, however, that (i) if the Closing Sale Price of the Common Stock is not below $4.00 on the Purchase Date, the Regular Purchase Share Limit may be increased to up to two hundred seventy-five thousand (275,000) Purchase Shares and (ii) if the Closing Sale Price of the Common Stock is not below $5.00 on the Purchase Date, the Regular Purchase Share Limit may be increased to up to three hundred thousand (300,000) Purchase Shares,... in each case to be adjusted following any reorganization, recapitalization, non-cash dividend, stock split, reverse stock, split or other similar transaction effected with respect to the Common Stock; provided, that if following such an adjustment the Regular Purchase Share Limit as adjusted would preclude the Company from delivering to the Investor a Purchase Notice hereunder for a Purchase Amount equal to or greater than one hundred fifty thousand dollars ($150,000), the Regular Purchase Share Limit shall equal the maximum number of Purchase Shares which would enable the Company to deliver to the Investor a Purchase Notice for a Purchase Amount equal to, or as closely approximating without exceeding, one hundred fifty thousand dollars ($150,000); provided, further, that the Investor's committed obligation under any single Regular Purchase shall not exceed two million dollars ($2,000,000). View More