Common use of Offering Termination Date Clause in Contracts

Offering Termination Date. The “Offering Period” shall commence on the day that the Prospectus is first made available to prospective investors in connection with the Offering and shall continue until the “Offering Termination Date,” which may be, at the option of the Company and the Underwriter (i) a date mutually acceptable to the Company and you after which at least 2,500,000 Placement Shares are sold at an offering price of $4.00 per share (the “Minimum Offering”); (ii) such time as 3,750,000 shares of Placement Shares are sold at an offering price of $4.00 per share (the “Maximum Offering”); (iii) such time as all the Placement Shares and all the ordinary shares under the Over-Subscription Allowance are sold at an offering price of $4.00 per share or (iv) the close of business on the 180th day after the date of the Prospectus or the 225th day after the date of the Prospectus if the Over-Subscription Allowance is exercised, unless extended by the Company and you. The Company and you agree that unless at least 2,500,000 Placement Shares offered are sold on or before the Offering Termination Date, all funds that have been sent to the Escrow Account (as hereinafter defined) for the Placement Shares will be returned to the investors.

Offering Termination Date. The “Offering Period” shall commence on the day that the Prospectus is first made available to prospective investors in connection with the Offering and shall continue until the “Offering Termination Date,” which may be, at the option of the Company and the Underwriter Underwriter, (i) a date mutually acceptable to the Company and you after which at least 2,500,000 1,000,000 Placement Shares are sold at an offering price of $4.00 per share the Purchase Price (the “Minimum Offering”); (ii) such time as 3,750,000 3,000,000 shares of Placement Shares are sold at an offering price of $4.00 per share the Purchase Price (the “Maximum Offering”); (iii) such time as all the Placement Shares and all the ordinary shares under the Over-Subscription Allowance are sold at an offering price of $4.00 per share the Purchase Price or (iv) the close of business on the 180th day after the date of the Prospectus or the 225th day after the date of the Prospectus if the Over-Subscription Allowance is exercisedProspectus, unless extended for an additional period of 45 days by the Company and you. The Company and you agree that unless at least 2,500,000 1,000,000 Placement Shares offered are sold on or before the Offering Termination Date, all funds that have been sent to the Escrow Account (as hereinafter defined) for the Placement Shares will be returned to the investors.