Purchase of Shares Clause Example from Business Contracts

Purchase of Shares. For the sum of US$25,000 (the "Purchase Price"), which the Company acknowledges receiving in cash, the Company hereby sells and issues the Shares to the Subscriber, and the Subscriber hereby purchases the Shares from the Company, subject to the forfeiture provisions of Section 3 below and of the Forfeiture Agreements (as defined in Section 3.3), on the terms and subject to the conditions set forth in this Agreement. All references in this Agreement to shares of the Company being forfeited shall ...take effect as surrenders and cancellations for no consideration of such shares as a matter of Cayman Islands law. View More