Draw Downs; Draw Down Closings Sample Clauses

Draw Downs; Draw Down Closings. (a) Upon the terms and subject to the conditions set forth herein, on any Business Day during the Commitment Period on which the applicable conditions set forth in Article VI have been satisfied or waived, the Company may exercise a Draw Down by the delivery of a Draw Down Notice to the Purchaser. The Company may deliver the initial Draw Down Notice to the Purchaser before the commencement of the Commitment Period. (b) The aggregate purchase price for the Preferred Shares and Warrants subject to each Draw Down, as specified in the corresponding Draw Down Notice, shall not be less than the Minimum Draw Down Amount nor more than the Maximum Draw Down Amount and shall not be more than (i) the Commitment Amount minus (ii) the aggregate purchase price of all Preferred Shares and Warrants previously issued and sold pursuant to Draw Downs. (c) Each closing of the purchase and sale of the Preferred Shares and Warrants pursuant to Section 1.1(c) (each, a "Draw Down Closing") shall take place at the offices of ▇▇▇▇▇ & ▇▇▇▇▇▇▇ L.L.P., Columbia Square, ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇.▇. ▇▇▇▇▇ at 10:00 a.m. on the 30th day following the receipt by the Purchaser of a Draw Down Notice; provided, that the parties' obligations at each such closing are subject to the prior satisfaction or waiver of the applicable conditions set forth in Article VI (other than those conditions that by their nature are to be satisfied at such Closing, but subject to the satisfaction or waiver of those conditions) or at such other place, time or date as shall be mutually agreed upon by the Company and the Purchaser. The date of each Draw Down Closing is referred to herein as a "Draw Down Closing Date" Unless mutually agreed by the Company and the Purchaser, no Draw Down Closing Date shall take place earlier than the 45th day after a prior Draw Down Closing Date. The first Draw Down Closing may not take place until the earlier of (x) the 45th day after the Initial Closing Date and (y) June 15, 2001. The Initial Closing and each Draw Down Closing are each referred to herein as a "Closing" and collectively as the "Closings." The Initial Closing Date and each Draw Down Closing Date are each referred to herein as a "Closing Date."