Common use of Public Offering Condition Clause in Contracts

Public Offering Condition. BRI has informed the Transferor Partners that in connection with the consummation of the various Related Transactions (as defined in Section 17.05 hereof), BRI intends to undertake either or both of (i) a public offering of common stock or other equity securities of BRI (the "Public Offering"), or (ii) a private placement of common stock or other equity securities of BRI (the "Private Placement"). The Transferor Partners shall supply any documentation and additional information required by BRI in order to complete the offering materials in connection with the Public Offering or the Private Placement. The obligation of the BRI Partnership to proceed with the Closing of the transactions contemplated by this Agreement is expressly conditioned upon the successful completion of the Public Offering and the Private Placement raising a minimum of $75,000,000.00. If the Public Placement and the Private Placement do not in the aggregate complete offerings which raise a minimum of $75,000,000 as aforesaid prior to the Closing Date hereunder, the BRI Partnership shall have the right to terminate this Agreement effective as of the Closing Date, and, thereafter this Agreement shall be void and without recourse to all parties except for provisions which are expressly stated to survive termination of this Agreement.

Public Offering Condition. BRI has informed the Transferor Partners Management Company and the Shareholders that in connection with the consummation of the various Related Transactions (as defined in Section 17.05 11.6 hereof), BRI intends to undertake either or both of (i) a public offering of common stock or other equity securities of BRI (the "Public Offering"), or (ii) a private placement of common stock or other equity securities of BRI (the "Private Placement"). The Transferor Partners Management Company and the Shareholders shall supply any documentation and additional information required by BRI in order to complete the offering materials in connection with the Public Offering or the Private Placement. The obligation of the BRI Partnership to proceed with the Closing of the transactions contemplated by this Agreement is expressly conditioned upon the successful completion of the Public Offering and the Private Placement raising a minimum of $75,000,000.00. If the Public Placement and the Private Placement do not in the aggregate complete offerings which raise a minimum of $75,000,000 as aforesaid prior to the Closing Date hereunder, the BRI Partnership shall have the right to terminate this Agreement effective as of the Closing Date, and, thereafter this Agreement shall be void and without recourse to all parties except for provisions which are expressly stated to survive termination of this Agreement.

Public Offering Condition. BRI has informed the Transferor Partners Corporation that in connection with the consummation of the various Related Transactions (as defined in Section 17.05 hereof), BRI intends to undertake either or both of (i) a public offering of common stock or other equity securities of BRI (the "Public Offering"), or (ii) a private placement of common stock or other equity securities of BRI (the "Private Placement"). The Transferor Partners Corporation shall supply any documentation and additional information required by BRI in order to complete the offering materials in connection with the Public Offering or the Private Placement. The obligation of the BRI Partnership to proceed with the Closing of the transactions contemplated by this Agreement is expressly conditioned upon the successful completion of the Public Offering and the Private Placement raising a minimum of $75,000,000.00. If the Public Placement and the Private Placement do not in the aggregate complete offerings which raise a minimum of $75,000,000 as aforesaid prior to the Closing Date hereunder, the BRI Partnership shall have the right to terminate this Agreement effective as of the Closing Date, and, thereafter this Agreement shall be void and without recourse to all parties except for provisions which are expressly stated to survive termination of this Agreement.