Common use of Initial Closing Conditions Clause in Contracts

Initial Closing Conditions. The Initial Closing is conditioned upon satisfaction of all of the following conditions: (i) the Initial Closing occurs on or prior to the Offering End Date; (ii) at the time of the Initial Closing, (A) the Company has received, and is accepting, subscriptions from Flash Investors for Flash Convertible Securities having an aggregate investment amount of at least the Minimum Amount, and (B) the Company has received into the Escrow Account the investment amount for such subscriptions in cleared funds (to the extent such investment amount is being paid in cash pursuant to Section 2(b)); and (iii) Investor has delivered to the Company an executed copy of the Mutual Agreement to Arbitrate and Waiver of Class Action Class attached to this Agreement as Attachment 1 (the “Arbitration Agreement”).

Initial Closing Conditions. The Initial Closing is conditioned upon satisfaction of all of the following conditions: (i) the Initial Closing occurs on or prior to the Offering End Date; (ii) at the time of the Initial Closing, (A) the Company has received, and is accepting, subscriptions from Flash Investors for shares of Flash Convertible Securities CF Preferred having an aggregate investment amount purchase price of at least the Minimum Amount, and (B) the Company has received into the Escrow Account the investment amount purchase price for such subscriptions in cleared funds (to the extent such investment amount purchase price is being paid in cash pursuant to Section 2(b)); and; (iii) Investor has delivered to the Company an executed copy of (A) the Rights Agreement and (B) the Mutual Agreement to Arbitrate and Waiver of Class Action Class attached to this Agreement as Attachment 1 (the “Arbitration Agreement”).