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Additional Closings
Additional Closings contract clause examples

Additional Closings. Each Additional Closing shall occur at such time and date and for such amounts of Purchase Securities as specified by the Company in writing to the Purchaser at least fifteen (15) Business Days in advance thereof (an “Additional Closing Notice”). The aggregate purchase price of the Purchase Securities to be purchased at each Additional Closing shall be not less than $20,000,000, and no Additional Closing shall occur later than the date that is 270 days after (and excluding) the Initial Closing Date (the “Additional Closing Deadline”); provided, however, that the Company shall not be entitled to deliver an Additional Closing Notice for any amount that, after consummation of an Additional Closing of such Amount, there would be less than $20,000,000 aggregate amount of remaining Additional Closing Purchase Securities remaining. Notwithstanding the Company’s right to determine the time, place and date of each Additional Closing (subject to the conditions set forth herein), the full amount of Additional Closing Purchase Securities shall be sold and purchased prior to the Additional Closing Deadline and the Parties shall take commercially reasonable efforts to ensure that all covenants and conditions thereto are timely satisfied. In the event the full amount of Additional Closing Purchase Securities have not been sold and purchased prior to the date that is fifteen (15) Business Days prior to the Additional Closing Deadline, then a final Additional Closing Notice shall be deemed to be delivered on such date providing for a final Additional Closing on the Additional Closing Deadline of the full amount of Additional Closing Purchase Securities remaining, subject to the conditions set forth herein.

Multiple Closings. To the extent there is more than one Closing, payment of the applicable Agents Cash Fee and the issuance of the applicable Broker Warrants will be made at each Closing. All Agents Cash Fees under this Agreement shall be paid by the Company out of the Escrow Fund to and in the name provided to the Company by the Agents at the time of each Closing.

Delivery at Closings. At each Closing, the Purchaser shall pay to the Company by wire transfer in immediately available funds to the account designated by the Company the applicable portion of the Aggregate Purchase Price for the applicable Purchase Securities to be purchased at such Closing, and the Company shall deliver to the Purchaser such applicable Purchase Securities, in each case subject to the satisfaction or waiver of the conditions to such Closing set forth below. The Company shall, no later than five (5) Business Days prior to each Closing Date, notify the Purchaser in writing of the account to which payment of the portion of the Aggregate Purchase Price shall be made at such Closing. The applicable portion of the Aggregate Purchase Price for the Initial Closing Purchase Securities shall be $60,910,000.00 and the applicable portion of the Aggregate Purchase Price for all Additional Closing Purchase Securities shall be $79,090,000.00.

Purchase Securities. The Purchase Securities shall be issued and sold in one or more closings (each, a “Closing”) upon the terms and subject to the conditions described herein. The Purchase Securities to be issued and sold at the initial Closing (the “Initial Closing”) are referred to as the “Initial Closing Purchase Securities” and the Purchase Securities to be issued and sold at the additional Closings (each, an “Additional Closing”) are referred to, in the aggregate, as the “Additional Closing Purchase Securities.”

The closings of the transactions contemplated in Section 2.3 above will take place at closings to be held remotely via the exchange of documents and signatures within thirty (30) business days following the occurrence of any of the Milestone Closings.

2B(7) Facility Closings 4

Adjust, inspect, and supervise Book closings;

30 days of the receipt of the first cleared subscriber’s funds. The Company may consummate subsequent closings of

. “Milestone Closing” or “Milestone Closings” means the 1st Milestone Closing, the 2nd Milestone Closing and the 3rd Milestone Closing, as applicable.

SECTION # Subsequent Closings. For a period from the Initial Closing Date until no later than April 30, 2022, the shall schedule closings upon its receipt of audited financial statements as described in [subsections (a), (b), and (c)])])], below (the “Subsequent Closings”) which shall take place remotely by exchange of documents and signatures (or their electronic counterparts). A Subsequent Closing may be demanded by the Series A by electronic notice to the email address contained herein. [[Organization A:Organization]] shall be deemed to have achieved a revenue milestone, as defined in [Schedule A] attached hereto, if [[Organization A:Organization]] is able to provide written documentation of the achieved revenue milestone the . Such written documentation shall be:

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