Closing and Mechanics of Payment. (a) The Purchase Price shall be paid on the Closing Date by wire transfer of immediately available funds on or before 5:00 p.m. (EST).
(b) The Convertible Note issued on the Closing Date shall be dated the date hereof.
Closing and Mechanics of Payment. (a) The Purchase Price shall be paid on the Closing Date by wire transfer of immediately available funds on or before 5:00 p.m. (EST).
(a) The Convertible Debentures and Warrants issued on the Closing Date shall be dated the date hereof; PROVIDED, HOWEVER, interest shall accrue on the applicable Convertible Debentures only from and after the date of funding thereof. (b)
Closing and Mechanics of Payment. (a) The Purchase Price will be paid on each respective Closing date by wire transfer of immediately available funds. Phage acknowledges having received the funds due in connection with the Initial Closing under this Agreement.
Closing and Mechanics of Payment. (a) Subject to satisfaction of the conditions set forth in Sections 6.1 and 6.2 hereof, the Closing Date shall occur on August 26, 2002.
(b) The Note issued on the Closing Date shall be dated the date hereof.
Closing and Mechanics of Payment. 10 SECTION 2.4
Closing and Mechanics of Payment. 10 SECTION 2.4 TERMS OF COMMITMENT AND SUBSEQUENT TAKEDOWNS ............... 10
Closing and Mechanics of Payment. At a mutually agreed upon time, which is no later than three (3) Business Days prior to the Funding Date, MGM and the Company shall meet for a pre-closing conference. The Loan Amount shall be paid to the Company on the Funding Date by wire transfer of immediately available funds to an account designated in writing by the Company no later than one (1) Business Day prior to the Funding Date. ARTICLE III PAYMENT TERMS OF THE CONVERTIBLE NOTE Section 3.01
Closing and Mechanics of Payment. (a) On the Closing Date, subject to the satisfaction of all terms and conditions set forth herein, each of the Purchasers shall deliver by wire transfer to the Company immediately available funds in an amount equal to the portion of the Purchase Price of the Convertible Notes to be purchased by such Purchaser on the Closing Date, in the proportions as set forth on Schedule 2.1 attached hereto, less such Purchaser's ratable share of Expense Reimbursement Fee.
(b) On the Closing Date, against payment as set forth in subsection 2.3(a) above, the Company shall deliver to each Purchaser (i) a single Convertible Note for each Purchaser representing the principal amount of such Convertible Note issued to such -------------------------------------------------------------------------------- SECURITIES PURCHASE AGREEMENT - Page 10 (American International Petroleum Corporation) 85478.4 Purchaser as of the Closing Date, and (ii) a single Warrant for each Purchaser representing the aggregate Warrants issued to such Purchaser as of the Closing Date.
(c) The Company and the Purchasers hereby agree to consummation of the closing and deliveries set forth herein in accordance with the terms of the Escrow Agreement attached hereto as Exhibit G, with Xxxxxxxxxx, Xxxxxx & Xxxxxxx as escrow agent.
Closing and Mechanics of Payment. (a) On each Closing Date, subject to the satisfaction of all terms and conditions set forth herein, each of the Purchasers shall deliver by wire transfer to the Company immediately available funds in an amount equal to the portion of the Purchase Price of the Convertible Notes to be purchased by such Purchaser on such Closing Date. On the First Closing Date, each Purchaser shall subtract from such Purchase Price such Purchaser's ratable share of $25,000, representing an estimate of the Expense Reimbursement Fee. Within ten (10) days of the receipt of notice from the Purchasers, the Company shall pay any funds due and owing as the Expense Reimbursement Fee in excess of the estimated Expense Reimbursement Fee withheld from the Purchase Price as described herein.
(b) Subject to satisfaction of the conditions set forth in Sections 6.1 and 6.3 hereof, the First Closing Date shall occur on April 21, 1998.
(c) The Second Closing Date shall occur on a date selected by the Purchasers no later than (x) May 15, 1998 or (y) the date all conditions precedent of the Company set forth in Section 6.2 shall have been satisfied, whichever shall be the latter to occur.
(d) On each Closing Date, against payment as set forth in subsection 2.3(a) above, the Company shall deliver to each Purchaser (i) a single Convertible Note for each Purchaser representing the principal amount of such Convertible Note issued to such Purchaser as of each Closing Date, and (ii) on the First Closing Date a single Warrant for each Purchaser representing the number of Warrants issued to such Purchaser as of the First Closing Date.
(e) The Warrants and the Convertible Notes issued on both the First Closing Date and the Second Closing Date shall be dated the date hereof; provided; however, interest shall accrue on the applicable Convertible Notes only from and after the date of funding thereof.
Closing and Mechanics of Payment. (a) The purchase price for the Initial Put Amount and for each Subsequent Put shall be paid on the respective Closing Date for each such Put by wire transfer of immediately available funds on or before 5:00 p.m. (EST).
(b) The certificates for shares of Common Stock to be issued for the Initial Put Amount shall be dated the Closing Date.
