Common use of MECHANICS OF PURCHASE OF SHARES BY INVESTOR Clause in Contracts

MECHANICS OF PURCHASE OF SHARES BY INVESTOR. At the end of each Pricing Period the Investor shall prepare and send the Company a “Closing Statement” (See Exhibit D attached hereto). Subject to the satisfaction of the conditions set forth in Sections 2(f), 7 and 8, each closing of the purchase by the Investor of Shares (each a "Closing") shall occur on the date of final settlement of the Shares sold by the Investor during the Pricing Period (each a "Closing Date"). The Company shall not be entitled to issue another Draw Down Notice until after the settlement of the prior Draw Down Notice. On or prior to each Closing Date, (i) the Company shall deliver to the Investor per its written instructions, certificates representing the Shares to be issued to the Investor on such date and registered in the name of the Investor or deposit such Shares into the account(s) (with the Investor receiving confirmation that the Shares are in such account(s)) designated by the Investor for the benefit of the Investor and (ii) the Investor shall deliver to the Company the Purchase Price to be paid for such Shares (after receipt of confirmation of delivery of such Shares), determined as aforesaid, by wire transfer. In lieu of delivering physical certificates representing the Shares and provided that the Transfer Agent then is participating in The Depository Trust Company (“DTC”) Fast Automated Securities Transfer (“Fast”) program, upon request of the Investor, the Company shall cause the Transfer Agent to electronically transmit the Shares by crediting the account of Investors’ broker with DTC through its Deposit/Withdrawal at Custodian (“DWAC”) system, and provide proof satisfactory to the Investor of such delivery.

MECHANICS OF PURCHASE OF SHARES BY INVESTOR. At the end of each Pricing Period the Investor shall prepare and send the Company a “Closing Statement” (See Exhibit D attached hereto). Subject to the satisfaction of the conditions set forth in Sections 2(f), 7 and 8, each the closing of the purchase by the Investor of Shares (each a "ClosingCLOSING") shall occur on the date of final settlement of which is thirteen (13) Trading Days following the Shares sold by the Investor during the Pricing Period Put Notice Date (each a "Closing DateCLOSING DATE"). The Company shall not be entitled to issue another Draw Down Notice until after the settlement of the prior Draw Down Notice. On or prior Prior to each Closing Date, (i) the Company shall deliver to the Investor per its written instructionsEscrow Agent pursuant to the Escrow Agreement, annexed hereto as Exhibit C, certificates representing the Shares to be issued to the Investor on such date and registered in the name of the Investor or deposit such Shares into the account(s) (with the Investor receiving confirmation that the Shares are in such account(s)) designated by the Investor for the benefit of the Investor and (ii) the Investor shall deliver to the Company Escrow Agent the Purchase Price to be paid for such Shares (after receipt of confirmation of delivery of such Shares), determined as aforesaid, by wire transfer. In lieu of delivering physical certificates representing the Shares Common Stock and provided that the Transfer Agent then is participating in The Depository Trust Company (“"DTC”") Fast Automated Securities Transfer (“Fast”"FAST") program, upon request of the Investor, the Company shall use its commercially reasonable efforts to cause the Transfer Agent to electronically transmit the Shares shares of Common Stock by crediting the account of each Investors’ ' prime broker (which shall be specified by that Investor a reasonably sufficient time in advance) with DTC through its Deposit/Deposit Withdrawal at Custodian Agent Commission (“"DWAC”") system, and provide proof satisfactory to the Investor Escrow Agent of such delivery.. The Company understands that a delay in the issuance of Shares beyond the Closing Date could result in economic loss to the Investor. After the Effective Date, as compensation to the Investor for such loss, the Company agrees to pay late payments to the Investor for late issuance of Shares in accordance with the following schedule (where "No. of Days Late" is defined as the number of days beyond the Closing Date):