Common use of Offering and Sale of Units Clause in Contracts

Offering and Sale of Units. (a) On the basis of the representations, warranties and covenants herein contained, but subject to the terms and conditions herein set forth, you are hereby appointed the selling agent of the Company during the term herein specified (the "Offering Period") for the purpose of finding subscribers for the Units for the account and risk of the Company through a public offering, and subject to the performance by the Company of all of its obligations to be performed hereunder and to the completeness and accuracy of all the representations and warranties contained herein, you hereby accept such agency and agree on the terms and conditions herein set forth to use commercially reasonable efforts during the Offering Period to find subscribers for the Units at a public offering price of $1,000 per Unit, each investor being required to subscribe for at least 5 Units. The Offering Period will terminate on April 30, 2003, (the "Offering Termination Date"). At all times during the Offering Period you shall follow the procedures set forth in this Section 2.

Offering and Sale of Units. (a) On the basis of the representations, warranties and covenants herein contained, but subject to the terms and conditions herein set forth, you are hereby appointed the selling agent of the Company during the term herein specified (the "Offering Period") for the purpose of finding subscribers for the Units for the account and risk of the Company through a public offering, and subject to the performance by the Company of all of its obligations to be performed hereunder and to the completeness and accuracy of all the representations and warranties contained herein, you hereby accept such agency and agree on the terms and conditions herein set forth to use commercially reasonable efforts during the Offering Period to find subscribers for the Units at a public offering price of $1,000 per Unit, each investor being required to subscribe for at least 5 Units. The Offering Period will terminate on March 1, 2003, unless extended no later than April 30, 20032003 by the board of directors of the Company (either March 1, (2003 or such later date, as applicable, the "Offering Termination Date"). At all times during the Offering Period you shall follow the procedures set forth in this Section 2.