On the terms of this Agreement and subject to the satisfaction (or, to the extent permitted by applicable Law, waiver by the party entitled to the benefit thereof) of the applicable conditions set forth in Article VI , at the applicable Closing, the Purchaser shall purchase and acquire from the Company 480,000 shares of Series A Preferred Stock and the Company shall issue, sell and deliver to the Purchaser, such shares of Series A Preferred Stock (the “ Acquired Shares ”), for a purchase price per Acquired Share equal to $1,000 (the “ Purchase Price ”). The purchase and sale of the Acquired Shares pursuant to this Section 2.01 is referred to as the “ Purchase ”.