Subject to the terms and conditions hereof, each Purchaser hereby agrees, severally and not jointly, to purchase from the Company, at one or more closings as set forth in Section 2.2 of this Agreement, its respective Committed Shares, and each Purchaser agrees, severally and not jointly, to pay the Company the Preferred Stock Price for each Purchased Share. Subject to the terms and conditions hereof, the Company hereby agrees to issue and sell to each Purchaser its respective Purchased Shares at the Preferred Stock Price for each Purchased Share.