Common use of Additional Closing Clause in Contracts

Additional Closing. On each Additional Closing Date, (i) each Buyer shall deliver or reserve for payment and agree to deposit its applicable Additional Purchase Price (less any amounts withheld pursuant to Section 4(g)) (the "Applicable Additional Deposit Amount") to such Buyer's or Buyer Group's Deposit Account, if any, by wire transfer of immediately available funds in accordance with the wire instructions set forth in Buyer's or Buyer Group's Deposit Agreement, such Applicable Additional Deposit Amount to be held and released by the Depositary in accordance with and pursuant to the terms and conditions of such Deposit Agreement, in each case, for the Additional Notes and the Additional Warrants to be issued and sold to such Buyer at such Additional Closing and (ii) the Company shall deliver to each Buyer such Additional Notes (allocated in the principal amounts as such Buyer shall request) which such Buyer is then purchasing hereunder along with such Additional Warrants (allocated in the amounts as such Buyer shall request) which such Buyer is purchasing hereunder, in each case duly executed on behalf of the Company and registered in the name of such Buyer or its designee.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Net Element, Inc.), Securities Purchase Agreement (Net Element, Inc.), Securities Purchase Agreement (Net Element, Inc.)

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Additional Closing. On The obligation of the Company hereunder to issue and sell the Additional Common Shares and the related Additional Warrants to each Buyer at the Additional Closing is subject to the satisfaction, at or before the Additional Closing Date, of each of the following conditions, provided that these conditions are for the Company’s sole benefit and may be waived by the Company at any time in its sole discretion by providing each Buyer with prior written notice thereof: (i) each Such Buyer shall deliver or reserve for payment have executed each of the Transaction Documents to which it is a party and agree delivered the same to deposit its applicable the Company. (ii) Such Buyer shall have delivered to the Company the Additional Purchase Price (less any amounts withheld pursuant to Section 4(g)) (for the "Applicable Additional Deposit Amount") to Common Shares and the related Additional Warrants being purchased by such Buyer's or Buyer Group's Deposit Account, if any, at the Additional Closing by wire transfer of immediately available funds in accordance with pursuant to the wire instructions set forth provided by the Company. (iii) The representations and warranties of such Buyer shall be true and correct in Buyer's or all material respects as of the date when made and as of the Additional Closing Date as though made at that time (except for representations and warranties that speak as of a specific date which shall be true and correct as of such specified date), and such Buyer Group's Deposit Agreementshall have performed, such Applicable Additional Deposit Amount satisfied and complied in all material respects with the covenants, agreements and conditions required by this Agreement to be held and released performed, satisfied or complied with by the Depositary in accordance with and pursuant to the terms and conditions of such Deposit Agreement, in each case, for the Additional Notes and the Additional Warrants to be issued and sold to such Buyer at such or prior to the Additional Closing and (ii) the Company shall deliver to each Buyer such Additional Notes (allocated in the principal amounts as such Buyer shall request) which such Buyer is then purchasing hereunder along with such Additional Warrants (allocated in the amounts as such Buyer shall request) which such Buyer is purchasing hereunder, in each case duly executed on behalf of the Company and registered in the name of such Buyer or its designeeDate.

Appears in 1 contract

Samples: Securities Purchase Agreement (China Technology Development Group Corp)

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Additional Closing. On The obligation of the Company hereunder to issue and sell the Additional Preferred Shares and the related Additional Warrants to each Buyer at the Additional Closing is subject to the satisfaction, at or before the Additional Closing Date, of each of the following conditions, provided that these conditions are for the Company's sole benefit and may be waived by the Company at any time in its sole discretion by providing each Buyer with prior written notice thereof: (i) each Such Buyer shall deliver or reserve for payment have executed each of the Transaction Documents to which it is a party and agree delivered the same to deposit its applicable the Company. (ii) Such Buyer and each other Buyer shall have delivered to the Company the Additional Purchase Price (less any amounts withheld pursuant to Section 4(g)) (for the "Applicable Additional Deposit Amount") to Preferred Shares and the related Additional Warrants being purchased by such Buyer's or Buyer Group's Deposit Account, if any, at the Additional Closing by wire transfer of immediately available funds in accordance with pursuant to the wire instructions set forth provided by the Company. (iii) The representations and warranties of such Buyer shall be true and correct in Buyer's or all material respects as of the date when made and as of the Additional Closing Date as though made at that time (except for representations and warranties that speak as of a specific date), and such Buyer Group's Deposit Agreementshall have performed, such Applicable Additional Deposit Amount satisfied and complied in all material respects with the covenants, agreements and conditions required by this Agreement to be held and released performed, satisfied or complied with by the Depositary in accordance with and pursuant to the terms and conditions of such Deposit Agreement, in each case, for the Additional Notes and the Additional Warrants to be issued and sold to such Buyer at such or prior to the Additional Closing and (ii) the Company shall deliver to each Buyer such Additional Notes (allocated in the principal amounts as such Buyer shall request) which such Buyer is then purchasing hereunder along with such Additional Warrants (allocated in the amounts as such Buyer shall request) which such Buyer is purchasing hereunder, in each case duly executed on behalf of the Company and registered in the name of such Buyer or its designeeDate.

Appears in 1 contract

Samples: Securities Purchase Agreement (Interpharm Holdings Inc)

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