Common use of Offering Period Clause in Contracts

Offering Period. The Offering Period shall commence on the day the Offering Documents are first made available to you by the Company and will continue until the earlier to occur of (ii) the sale of the Maximum Offering or (ii) August 31, 2000, unless extended by the Company for a period of up to ninety (90) days from such date (the "Offering Period"). If, at any time during the Offering Period, subscriptions for at least the Minimum Offering have been received and accepted by the Company (and funds in payment therefor have cleared), then, upon the mutual consent of the Company and the Placement Agent, an initial closing ("Initial Closing") shall take place with respect to such accepted subscriptions and the Company shall continue the Offering until all Shares have been sold or the Termination Date, whichever occurs first. After the Initial Closing, subsequent closings with respect to accepted subscriptions may take place at any time during the Offering Period as may be mutually determined by the Company and the Placement Agent (such subsequent closings and the Initial Closing will each be referred to herein as a "Closing"). If subscriptions for at least the Minimum Offering are not received and accepted (and funds in payment therefor cleared) by the Termination Date, then the Offering will be terminated and all funds received from Subscribers will be returned, without interest and without any deduction.

Offering Period. The Offering Period shall commence on the day the Offering Documents are first made available to you the Placement Agent by the Company and will shall continue until the earlier to occur of (ii) the sale of the Maximum Offering or (ii) August March 31, 2000; provided, unless however, that the Offering Period may be extended until a date not later than April 30, 2000 by mutual decision of the Placement Agent and the Company for a period of up without notice to ninety (90) days from such date any Subscriber (the "last day of the Offering Period, as it may be extended, is referred to as the "Termination Date"). If, at any time during the Offering Period, subscriptions for at least the Minimum Offering $1,145,375 of Shares have been received and accepted by the Company (and funds in payment therefor have cleared), then, upon the mutual consent of the Company and the Placement Agent, an initial a closing ("Initial Closing") shall take place with respect to such accepted subscriptions and the Company shall continue the Offering offering until all of the Shares have been are sold or the Termination Date, whichever occurs first. After the Initial Closing, subsequent closings with respect to accepted subscriptions for additional Shares may take place at any time during the Offering Period as may be mutually determined by the Company and the Placement Agent (such subsequent closings and the Initial Closing and any subsequent closing each will each be referred to herein as a "Closing"). If subscriptions for at least the Minimum Offering $1,145,375 of Shares are not received and accepted (and funds in payment therefor cleared) by the Termination Date, then the Offering will be terminated and all funds received from Subscribers will be returned, without interest and without any deduction.

Offering Period. The Offering Period shall commence on the day the Offering Documents Documents, in a form ready for distribution to prospective investors, are first made available to you the Placement Agent by the Company ("Commencement Date") and will shall continue until January 31, 2005; provided, however, that the earlier Offering Period may be extended to occur of (ii) a date not later than February 28, 2005 by the sale mutual decision of the Maximum Offering or (ii) August 31, 2000, unless extended by Placement Agent and the Company for a period of up without notice to ninety (90) days from such date any Subscriber (the "last day of the Offering Period, as it may be extended, is referred to as the "Termination Date"). If, at any time during the Offering Period, subscriptions for at least $500,000 of the Minimum Offering Units have been received and accepted by the Company (and funds in payment therefor have cleared), and the conditions precedent to the initial closing ("Initial Closing") of this Offering as set forth herein have been satisfied, then, upon the mutual consent of the Company and the Placement Agent, an initial closing ("Initial Closing") Closing shall take place with respect to such accepted subscriptions and the Company Offering shall continue until the Offering until all Shares have been maximum offering amount of $2,000,000 (or up to $2,500,000, if the Company and the Placement Agent mutually determine to increase the size of the Offering) is sold or the Termination DateDate is reached, whichever occurs first. After the Initial Closing, subsequent closings may take place with respect to accepted subscriptions may take place at any time during the Offering Period as may be mutually determined by the Company and the Placement Agent (such subsequent closings and the Initial Closing and any subsequent closing will each be referred to herein as a "Closing"). If subscriptions for at least $500,000 of the Minimum Offering Units are not received and accepted (and funds in payment therefor cleared) and/or conditions precedent to the Initial Closing have not been satisfied by the Termination Date, then the Offering will be terminated and all funds received from Subscribers will be returned, without interest and without any deduction. The Placement Agent may reject any subscription in whole or in part, at any time and for any reason.

Offering Period. The offering period ("Offering Period Period") shall commence on the day the Offering Documents are first made available to you the Placement Agent by the Company and will shall continue until February 12, 1999; provided, however, that the earlier to occur of (ii) Offering Period may be extended until February 26, 1999 by the sale mutual decision of the Maximum Offering or (ii) August 31, 2000, unless extended by Company and the Company for a period of up Placement Agent without notice to ninety (90) days from such date any Subscriber (the "last day of the Offering Period, as it may be extended, is hereinafter referred to as the "Termination Date"). If, at any time during the Offering Period, subscriptions for at least the Minimum Offering $1,000,000 of Units have been received and accepted by the Company (and funds in payment therefor have cleared, (less any subscriptions (up to an aggregate of $175,000) that may be paid by conversion of outstanding indebtedness of the Company), then, upon the mutual consent of the Company and the Placement Agent, an initial a closing ("Initial Closing") shall take place with respect to such accepted subscriptions and the Company shall continue the Offering until all Shares have been of the Units are sold or the Termination Date, whichever occurs first. After the Initial Closing, subsequent closings of Units with respect to accepted subscriptions may take place at any time during the Offering Period as may be mutually determined by the Company and the Placement Agent (such subsequent closings and the Initial Closing and any subsequent closing each will each be referred to herein as a "Closing"). If subscriptions for at least the Minimum Offering $1,000,000 of Units are not received and accepted (and funds in payment therefor cleared) by the Termination Date, then the Offering will be terminated and all funds received from Subscribers will be returned, without interest and without any deduction.