Purchase of Shares Clause Example from Business Contracts

Purchase of Shares. 1.1. Purchase of Shares. For the sum of $25,000 (the "Purchase Price"), the receipt of which is hereby acknowledged by the Company, the Company hereby issues the Shares to Subscriber, and Subscriber hereby purchases the Shares from the Company, on the terms and subject to the conditions, including regarding forfeiture, set forth in this letter agreement (this "Agreement"). Concurrently with Subscriber's execution of this Agreement, the Company shall, at its option, deliver to Subscriber a certif...icate registered in Subscriber's name representing the Shares (the "Original Certificate") or effect such delivery in book-entry form. 1.2. Surrender of Subscriber Shares. On the issuance of the Shares, the Subscriber hereby surrenders for no consideration the one ordinary share, $0.0001 par value per share, that the Subscriber holds in the Company. View More