Common use of Closing; Purchase Price; Purchase Price Allocation Clause in Contracts

Closing; Purchase Price; Purchase Price Allocation. The Closing shall take place at the offices of Morrxxxx & Xoerxxxx XXX, 1290 Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, XX 00000, xx 10:00 a.m., New York time on June 21, 1996, or at such other place, date and time as may be otherwise mutually agreed in writing by the parties hereto. The date on which the Closing actually occurs is referred to herein as the "Closing Date." At the Closing, the Company shall issue and deliver to the Purchaser the Note, in substantially the form attached hereto as Exhibit A, and the Warrant, in substantially the form attached hereto as Exhibit B. As payment in full for the Securities, and against delivery of the Securities on the Closing Date, the Purchaser shall transfer the sum of $1,960,000 by wire transfer of immediately available funds to such account or accounts as the Company may direct. The Company and the Purchaser agree that $100,000 of the aggregate consideration for the Securities shall be allocated to the Warrants, and that the balance of such aggregate consideration shall be allocated to the Note.

Closing; Purchase Price; Purchase Price Allocation. The Closing shall take place at the offices of Morrxxxx & Xoerxxxx XXX, 1290 Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, XX 00000, xx 10:00 a.m., New York time on June 2111, 1996, or at such other place, date and time as may be otherwise mutually agreed in writing by the parties hereto. The date on which the Closing actually occurs is referred to herein as the "Closing Date." At the Closing, the Company shall issue and deliver to the Purchaser the Note, in substantially the form attached hereto as Exhibit A, and the Warrant, in substantially the form attached hereto as Exhibit B. As payment in full for the Securities, and against delivery of the Securities on the Closing Date, the Purchaser shall transfer the sum of $1,960,000 4,000,000 by wire transfer of immediately available funds to such account or accounts as the Company may direct. The Company and the Purchaser agree that $100,000 200,000 of the aggregate consideration for the Securities shall be allocated to the Warrants, and that the balance of such aggregate consideration shall be allocated to the Note.