Common use of Offer to Subscribe; Purchase Price Clause in Contracts

Offer to Subscribe; Purchase Price. The Subscriber hereby offers to purchase and subscribe for the principal amount of Convertible Debentures and at the price, set out in Section 19 of this Agreement. The Closing shall be deemed to occur when this Agreement has been executed by both of the Subscriber and the Company (the “Closing”) and payment shall have been made by the Subscriber, by wire transfer, as directed in writing by the Company on the day so directed, to an escrow agent in accord with the Escrow Agreement, against the Company’s delivery of Convertible Debentures subscribed for. If the Closing does not occur, the funds of the Subscriber shall be returned immediately from escrow. The terms and conditions of the escrow are set forth in an Escrow Agreement, the form of which is attached hereto as Exhibit B hereto. The payment shall be made by delivering same day funds in United States Dollars as designated above.

Offer to Subscribe; Purchase Price. The Subscriber hereby offers to purchase and subscribe for the principal amount of Convertible Debentures and at the price, set out in Section 19 of this Agreement. The Closing shall be deemed to occur when this Agreement has been executed by both of the Subscriber and the Company (the “"Closing”") and payment shall have been made by the Subscriber, by wire transfer, as directed in writing by the Company on the day so directed, to an escrow agent in accord with the Escrow Agreement, against the Company’s 's delivery of Convertible Debentures subscribed for. If the Closing does not occur, the funds of the Subscriber shall be returned immediately from escrow. The terms and conditions of the escrow are set forth in an Escrow Agreement, the form of which is attached hereto as Exhibit B hereto. The payment shall be made by delivering same day funds in United States Dollars as designated above.