Purchase of Shares Clause Example from Business Contracts

Purchase of Shares. For the sum of $25,000 (the "Purchase Price"), which the Company acknowledges as having previously been received by it, in cash, the Company hereby sells and issues the Shares to the Subscriber, and the Subscriber hereby subscribes for and purchases the Shares from the Company, subject to forfeiture, on the terms and subject to the conditions set forth in this Agreement. Concurrently with the Subscriber's execution of this Agreement, the Company shall, at its option, deliver to the Subscriber a ...certificate registered in the Subscriber's name representing the Shares (the "Original Certificate") or effect such delivery in book-entry form. All references in this Agreement to shares of the Company being forfeited shall take effect as surrenders for no consideration of such shares as a matter of Delaware law. View More