Common use of Cancellation of Subsequent Closings Clause in Contracts

Cancellation of Subsequent Closings. In the event that a Change of Control or a Put Event (each as defined in the Certificate of Designation) occurs after any Closing Date, but prior to the sale by the Company to the Investor of all 1,411,765 Preferred Shares to be sold pursuant to this Agreement, and the Investor notifies the Company that it will tender into the Put Offer (as defined in the Certificate of Designation) any further Closings shall be canceled and the Company shall immediately pay to the Investor by wire transfer in immediately available funds an amount equal to the product of (i) $0.425 and (ii) the difference between (x) 1,411,765 and (y) the number of Preferred Shares which the Company has sold to the Investor pursuant to this Agreement prior to the occurrence of such Change of Control. ARTICLE 4

Cancellation of Subsequent Closings. In the event that a Change of Control or a Put Event (each as defined in the Certificate of Designation) occurs after any Closing Date, but prior to the sale by the Company to the Investor of all 1,411,765 Preferred Shares to be sold pursuant to this Agreement, and the Investor notifies the Company that it will tender into the Put Offer (as defined in the Certificate of Designation) any further Closings shall be canceled and the Company shall immediately pay to the Investor by wire transfer in immediately available funds an amount equal to the product of (i) $0.425 and (ii) the difference between (x) 1,411,765 and (y) the number of Preferred Shares which the Company has sold to the Investor pursuant to this Agreement prior to the occurrence of such Change of Control. ARTICLE 4.

Cancellation of Subsequent Closings. In the event that a Change of Control or a Put Event (each as defined in the Certificate of Designation) occurs after any Closing Date, but prior to the sale by the Company to the Investor of all 1,411,765 1,351,351 Preferred Shares to be sold pursuant to this Agreement, and the Investor notifies the Company that it will tender into the Put Offer (as defined in the Certificate of Designation) any further Closings shall be canceled and the Company shall immediately pay to the Investor by wire transfer in immediately available funds an amount equal to the product of (i) $0.425 0.37 and (ii) the difference between (x) 1,411,765 1,351,351 and (y) the number of Preferred Shares which the Company has sold to the Investor pursuant to this Agreement prior to the occurrence of such Change of Control. ARTICLE 4.

Cancellation of Subsequent Closings. In the event that a Change of Control or a Put Event (each as defined in the Certificate of Designation) occurs after any Closing Date, but prior to the sale by the Company to the Investor of all 1,411,765 1,351,351 Preferred Shares to be sold pursuant to this Agreement, and the Investor notifies the Company that it will tender into the Put Offer (as defined in the Certificate of Designation) any further Closings shall be canceled and the Company shall immediately pay to the Investor by wire transfer in immediately available funds an amount equal to the product of (i) $0.425 0.37 and (ii) the difference between (x) 1,411,765 1,351,351 and (y) the number of Preferred Shares which the Company has sold to the Investor pursuant to this Agreement prior to the occurrence of such Change of Control. ARTICLE 4Section 3.4