Common use of Closing Mechanics Clause in Contracts

Closing Mechanics. The initial Closing shall be held at a date and time designated by the Company and the Placement Agents prior to 11:59 p.m. Eastern Standard Time on April 30, 2006 (subject to extension at the discretion of the Company and the Placement Agents without notice to the Subscriber of up to 60 days), which date shall be no later than five (5) Business Days (as defined in Article 5) after satisfaction or waiver of the closing conditions set forth in Article 4 hereof. The Closing shall occur at Paramount’s offices, located at 000 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000. Upon satisfaction or waiver of all conditions to the Closing, the Placement Agents and the Company shall instruct US Bank Trust National Association, as escrow agent (the “Escrow Agent”), to release the proceeds of the Offering to the Company, less fees and expenses due to the Placement Agents. Interest, if any, that has accrued with respect to the Aggregate Purchase Price while in escrow shall also be distributed to the Company at the Closing and the Subscriber will have no right to such interest, even if there is no Closing.

Closing Mechanics. The initial Closing shall be held at a date and time designated by the Company and the Placement Agents Agent prior to 11:59 p.m. Eastern Standard Time on April 30February 28, 2006 (subject to extension at the discretion of the Company and the Placement Agents Agent without notice to the Subscriber of up to 60 days), which date shall be no later than five (5) 5 Business Days (as defined in Article 5) after satisfaction or waiver of the closing conditions set forth in Article 4 hereof. The Closing shall occur at Paramount’s officesthe offices of the Placement Agent, located at 000 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000. Upon satisfaction or waiver of all conditions to the Closing, the Placement Agents Agent and the Company shall instruct US Bank Trust National Association, as escrow agent (the “Escrow Agent”), ) to release the proceeds of the Offering to the Company, less fees and expenses due to the Placement AgentsAgent. Interest, if any, that has accrued with respect to the Aggregate Purchase Price while in escrow shall also be distributed to the Company at the Closing and the Subscriber will have no right to such interest, even if there is no Closing.

Closing Mechanics. The initial Closing shall be held at a date and time designated by the Company and the Placement Agents Agent prior to 11:59 p.m. Eastern Standard Time on April 30August 31, 2006 (subject to extension at the discretion of the Company and the Placement Agents Agent without notice to the Subscriber of up to 60 days), which date shall be no later than five (5) Business Days (as defined in Article 5) after satisfaction or waiver of the closing conditions set forth in Article 4 hereof. The Closing shall occur at Paramount’s officesthe offices of the Placement Agent, located at 000 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000. Upon satisfaction or waiver of all conditions to the Closing, the Placement Agents Agent and the Company shall instruct US Bank Trust National Association, as escrow agent (the “Escrow Agent”), to release the proceeds of the Offering to the Company, less fees and expenses due to the Placement AgentsAgent. Interest, if any, that has accrued with respect to the Aggregate Purchase Price while in escrow shall also be distributed to the Company at the Closing and the Subscriber will have no right to such interest, even if there is no Closing.

Closing Mechanics. The initial Closing shall be held at a date and time designated by the Company and the Placement Agents Agent prior to 11:59 p.m. Eastern Standard Time on April 30August 31, 2006 2005 (subject to extension at the discretion of the Company and the Placement Agents Agent without notice to the Subscriber of up to 60 days), which date shall be no later than five (5) Business Days (as defined in Article 5) after satisfaction or waiver of the closing conditions set forth in Article 4 hereof. The Closing shall occur at Paramount’s officesthe offices of the Placement Agent, located at 000 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000. Upon satisfaction or waiver of all conditions to the Closing, the Placement Agents Agent and the Company shall instruct US Bank Trust National Association, as an escrow agent (the “Escrow Agent”), ) to release the proceeds of the Offering to the Company, less fees and expenses due to the Placement AgentsAgent. Interest, if any, that has accrued with respect to the Aggregate Purchase Price while in escrow shall also be distributed to the Company at the Closing and the Subscriber will have no right to such interest, even if there is no Closing.

Closing Mechanics. The initial Closing shall be held at a date and time designated by the Company and the Placement Agents Agent prior to 11:59 p.m. Eastern Standard Time p.m., New York City time, on April 30February 28, 2006 2007 (subject to extension at the discretion of the Company and the Placement Agents Agent without notice to the Subscriber of up to 60 days), which date shall be no later than five (5) Business Days (as defined in Article 5) after satisfaction or waiver of the closing conditions set forth in Article 4 hereof. The Closing shall occur at Paramount’s officesthe offices of the Placement Agent, located at 000 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000. Upon satisfaction or waiver of all conditions to the Closing, the Placement Agents Agent and the Company shall instruct US Bank Trust National Association, as escrow agent (the “Escrow Agent”), to release the proceeds of the Offering to the Company, less fees and expenses due to the Placement AgentsAgent. Interest, if any, that has accrued with respect to the Aggregate Purchase Price while in escrow shall also be distributed to the Company at the Closing and the Subscriber will have no right to such interest, even if there is no Closing.

Closing Mechanics. The initial Closing shall be held at a date and time designated by the Company and the Placement Agents Paramount BioCapital, Inc. prior to 11:59 p.m. Eastern Standard Time on April 30August 31, 2006 2005 (subject to extension at the discretion of the Company and the Placement Agents Agent without notice to the Subscriber of up to 60 days), which date shall be no later than five (5) Business Days (as defined in Article 5) after satisfaction or waiver of the closing conditions set forth in Article 4 hereof. The Closing shall occur at Paramount’s officesthe offices of Paramount BioCapital, Inc., located at 000 700 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000. Upon satisfaction or waiver of all conditions to the Closing, the Placement Agents Agent and the Company shall instruct US Bank Trust National Association, as an escrow agent (the “Escrow Agent”), ) to release the proceeds of the Offering Closing to the Company, less fees and expenses due to the Placement AgentsAgent. Interest, if any, that has accrued with respect to the Aggregate Purchase Price while in escrow shall also be distributed to the Company at the Closing and the Subscriber will have no right to such interest, even if there is no Closing.

Closing Mechanics. The initial Closing shall be held at a date and time designated by the Company and the Placement Agents prior to 11:59 p.m. Eastern Standard Time on April 30, 2006 (subject to extension at the discretion of the Company and the Placement Agents without notice to the Subscriber of up to 60 30 days), which date shall be no later than five (5) Business Days (as defined in Article 5) after satisfaction or waiver of the closing conditions set forth in Article 4 hereof. The Closing shall occur at the offices of Paramount’s offices, located at 000 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000. Upon satisfaction or waiver of all conditions to the Closing, the Placement Agents and the Company shall instruct US Bank Trust National Association, as an escrow agent (the “Escrow Agent”), ) to release the proceeds of the Offering to the Company, less fees and expenses due to the Placement Agents. Interest, if any, that has accrued with respect to the Aggregate Purchase Price while in escrow shall also be distributed to the Company at the Closing and the Subscriber will have no right to such interest, even if there is no Closing.