Common use of Firm Securities Payment and Delivery Clause in Contracts

Firm Securities Payment and Delivery. (A) Delivery and payment for the Firm Securities shall be made prior to 2:00 p.m., Eastern time, on the second (2nd) Business Day following the date hereof (the “Effective Date”) (or the third (3rd) Business Day following the Effective Date if this Agreement is executed after 4:01 p.m., Eastern time) or at such earlier time as shall be agreed upon by the Representative and the Company, at the offices of Cozen X’Xxxxxx, 00 Xxxxx 0xx Xxxxxx, Xxxxx 0000, Xxxxxxxxxxx, XX 00000 (“Representative Counsel”), or at such other place (or by electronic transmission) as shall be agreed upon by the Representative and the Company. The hour and date of delivery and payment for the Firm Securities is called the “Closing Date.” (B) Payment for the Firm Securities shall be made on the Closing Date by wire transfer in federal (same day) funds, payable to the order of the Company upon delivery of the Firm Securities (in form and substance satisfactory to the Underwriters), for the account of the Underwriters. The Firm Securities shall be registered in such name or names and in such authorized denominations as the Representative may request in writing prior to the Closing Date. The term “Business Day” means any day other than a Saturday, a Sunday or a legal holiday or a day on which banking institutions are authorized or obligated by law to close in New York, New York.

Firm Securities Payment and Delivery. (A) Delivery and payment for the Firm Securities Units shall be made prior to 2:00 p.m.at 11:30 a.m., Eastern time, on [_____], 2022, which date shall be the second (2nd) Business Day following business day after the trade date hereof (the “Effective Date”) (or the third (3rd) Business Day following the Effective Date if this Agreement is executed after 4:01 p.m.of [_____], Eastern time) 2022, or at such earlier time as shall be agreed upon by the Representative and the Company, at the offices of Cozen X’XxxxxxXxxxxxxx Xxxxxxxxxx & Xxxxx LLP, 00 Xxxxx 0xx 000 Xxxxxxx Xxxxxx, Xxxxx 000000xx Xxxxx, XxxxxxxxxxxXxx Xxxx, XX 00000 (“Representative Counsel”), or at such other place (or remotely by facsimile or other electronic transmission) as shall be agreed upon by the Representative and the Company. The hour and date of delivery and payment for the Firm Securities Units is called the “Closing Date.” (B) Payment for the Firm Securities Units shall be made on the Closing Date by wire transfer in federal Federal (same day) funds, payable to the order of the Company upon delivery of the Firm Securities certificates (in form and substance satisfactory to the UnderwritersRepresentative) representing the Firm Shares (or through the facilities of the Depository Trust Company (“DTC”) or via a DWAC transfer), for the account of the Underwriters. The Firm Securities Shares and Firm Warrants underlying the Units shall be registered in such name or names and in such authorized denominations as the Representative may request in writing prior to the Closing Date. The Company shall not be obligated to sell or deliver the Firm Shares and Firm Warrants underlying the Units except upon tender of payment by the Representative for all of the Units or via delivery versus payment for the Units. The term “Business Day” means any day other than a Saturday, a Sunday or a legal holiday or a day on which banking institutions are authorized or obligated by law to close in New York, New York.