Common use of Subsequent Closings Clause in Contracts

Subsequent Closings. The Company and the Placement Agent may continue to offer and accept subscriptions for the Units and conduct additional closings (each, a “Subsequent Closing”) for the sale of such Units after the First Closing and until the termination of the Offering. Unless earlier terminated by agreement of the Company and the Placement Agent, this Offering will continue until May 27, 2014. There may be more than one Subsequent Closing; provided, however, that the final Subsequent Closing shall take place no later than May 27, 2014. The date of any subsequent closing is referred to as a “Subsequent Closing Date.” Notwithstanding the foregoing, no more than the Maximum Amount of Units will be sold at the First Closing and all Subsequent Closings. The First Closing and any applicable Subsequent Closings are each referred to in this Subscription Agreement as a “Closing.” The First Closing Date and any Subsequent Closing Dates are sometimes referred to herein as a “Closing Date.”

Subsequent Closings. The Company and the Placement Agent may continue to offer and accept subscriptions for the Units and conduct additional closings (each, a “Subsequent Closing”) for the sale of such Units after the First Closing and until the termination of the Offering. Unless earlier terminated by agreement of the Company and the Placement Agentterminated, this Offering will continue until May 27September 30, 20142015, or, if the Company’s Board of Directors authorize, until October 31, 2015. There may be more than one Subsequent Closing; provided, however, that the final Subsequent Closing shall take place no later than May 27October 31, 20142015. The date of any subsequent closing is referred to as a “Subsequent Closing Date.” Notwithstanding the foregoing, no more than the Maximum Amount of $8,000,000 in Units will be sold at the First Closing and all Subsequent Closings, unless an increase of an additional $2,000,000 is authorized by the Company’s Board of Directors. The First Closing and any applicable Subsequent Closings are each referred to in this Subscription Agreement as a “Closing.” The First Closing Date and any Subsequent Closing Dates are sometimes referred to herein as a “Closing Date.”

Subsequent Closings. The Company and the Placement Agent may continue to offer and accept subscriptions for the Units Shares and conduct additional closings (each, a “Subsequent Closing”) for the sale of such Units Shares after the First Closing and until the termination of the Offering. Unless earlier terminated by agreement of the Company and the Placement Agentterminated, this Offering will continue until May 27March 31, 20142025, unless the Company, in its sole discretion and without notice to Purchasers, extends the offering termination date for up to an additional 45 days. There may be more than one Subsequent Closing; provided, however, that the final Subsequent Closing shall take place no later than May 27March 31, 20142025 (or up to 45 days thereafter if the Company extends the termination date). The date of any subsequent closing is referred to as a “Subsequent Closing Date.” Notwithstanding the foregoing, no more than the Maximum Amount of Units 150,000 Shares will be sold in aggregate, at the First Closing and all Subsequent Closings. The First Closing and any applicable Subsequent Closings are each referred to in this Subscription Agreement as a “Closing.” The First Closing Date and any Subsequent Closing Dates are sometimes referred to herein as a “Closing Date.”

Subsequent Closings. The Company and the Placement Agent may continue to offer and accept subscriptions for the Units Shares and conduct additional closings (each, a “Subsequent Closing”) for the sale of such Units Shares after the First Closing and until the termination of the Offering. Unless earlier terminated by agreement of the Company and the Placement Agentterminated, this Offering will continue until May 27August 31, 20142016, or, if the Company’s Board of Directors authorize, without notice to Purchasers, until October 31, 2016. There may be more than one Subsequent Closing; provided, however, that the final Subsequent Closing shall take place no later than May 27October 31, 20142016. The date of any subsequent closing is referred to as a “Subsequent Closing Date.” Notwithstanding the foregoing, no more than the Maximum Amount of Units $25,000,000 in Shares will be sold at the First Closing and all Subsequent Closings, unless an increase of an additional $5,000,000 is authorized by the Company’s Board of Directors, without notice to Purchasers. The First Closing and any applicable Subsequent Closings are each referred to in this Subscription Agreement as a “Closing.” The First Closing Date and any Subsequent Closing Dates are sometimes referred to herein as a “Closing Date.”

Subsequent Closings. The Company and the Placement Agent may continue to offer and accept subscriptions for the Units Shares and conduct additional closings (each, a “Subsequent Closing”) for the sale of such Units Shares after the First Closing and until the termination of the Offering. Unless earlier terminated by agreement of the Company and the Placement Agentterminated, this Offering will continue until May 27August 31, 20142018 unless the Compnay, in its sole discretion and without notice to Purchasers, extends the offering termination date to October 31, 2018. There may be more than one Subsequent Closing; provided, however, that the final Subsequent Closing shall take place no later than May 27August 31, 20142018 (or October 31, 2018 if the Company extends the termination date). The date of any subsequent closing is referred to as a “Subsequent Closing Date.” Notwithstanding the foregoing, no more than the Maximum Amount of Units $3,500,000 in Shares will be sold at the First Closing and all Subsequent Closings. The First Closing and any applicable Subsequent Closings are each referred to in this Subscription Agreement as a “Closing.” The First Closing Date and any Subsequent Closing Dates are sometimes referred to herein as a “Closing Date.”

Subsequent Closings. The Company and the Placement Agent may continue to offer and accept subscriptions for the Units and conduct additional closings (each, a “Subsequent Closing”) for the sale of such Units after the First Closing and until the termination of the Offering. Unless earlier terminated by agreement of the Company and the Placement Agentterminated, this Offering will continue until May 27January 31, 20142016, or, if the Company’s Board of Directors authorize, until February 29, 2016. There may be more than one Subsequent Closing; provided, however, that the final Subsequent Closing shall take place no later than May 27February 29, 20142016. The date of any subsequent closing is referred to as a “Subsequent Closing Date.” Notwithstanding the foregoing, no more than the Maximum Amount of $2,000,000 in Units will be sold at the First Closing and all Subsequent Closings, unless an increase of an additional $1,000,000 is authorized by the Company’s Board of Directors. The First Closing and any applicable Subsequent Closings are each referred to in this Subscription Agreement as a “Closing.” The First Closing Date and any Subsequent Closing Dates are sometimes referred to herein as a “Closing Date.”

Subsequent Closings. The Company and the Placement Agent may continue to offer and accept subscriptions for the Units Shares and conduct additional closings (each, a “Subsequent Closing”) for the sale of such Units Shares after the First Closing and until the termination of the Offering. Unless earlier terminated by agreement of the Company and the Placement Agentterminated, this Offering will continue until May 27February 28, 20142018, or, if the Company’s Board of Directors authorize, without notice to Purchasers, until April 30, 2018. There may be more than one Subsequent Closing; provided, however, that the final Subsequent Closing shall take place no later than May 27April 30, 20142018. The date of any subsequent closing is referred to as a “Subsequent Closing Date.” Notwithstanding the foregoing, no more than the Maximum Amount of Units $10,000,000 in Shares will be sold at the First Closing and all Subsequent Closings, unless an increase of an additional $20,000,000 is authorized by the Company’s Board of Directors, without notice to Purchasers. The First Closing and any applicable Subsequent Closings are each referred to in this Subscription Agreement as a “Closing.” The First Closing Date and any Subsequent Closing Dates are sometimes referred to herein as a “Closing Date.”

Subsequent Closings. The Company and the Placement Agent may continue to offer and accept subscriptions for the Units and conduct additional closings (each, a “Subsequent Closing”) for the sale of such Units after the First Closing and until the termination of the Offering. Unless earlier terminated by agreement of the Company and the Placement Agentterminated, this Offering will continue until May 27February 28, 20142018. There may be more than one Subsequent Closing; provided, however, that the final Subsequent Closing shall take place no later than May 27February 28, 20142018. The date of any subsequent closing is referred to as a “Subsequent Closing Date.” Notwithstanding the foregoing, no more than the Maximum Amount of $5,000,000 in Units will be sold at the First Closing and all Subsequent Closings. The First Closing and any applicable Subsequent Closings are each referred to in this Subscription Agreement as a “Closing.” The First Closing Date and any Subsequent Closing Dates are sometimes referred to herein as a “Closing Date.”

Subsequent Closings. The Company and the Placement Agent may continue to offer and accept subscriptions for the Units Securities and conduct additional closings (each, a “Subsequent Closing”) for the sale of such Units Securities after the First Closing and until the termination of the Offering. Unless earlier terminated by agreement of the Company and the Placement Agentterminated, this Offering will continue until May 27December 31, 20142019 unless the Compnay, in its sole discretion and without notice to Purchasers, extends the offering by 45 days. There may be more than one Subsequent Closing; provided, however, that the final Subsequent Closing shall take place no later than May 27December 31, 20142019 (or if the Company extends the termination date the date to which the Company extends the termination). The date of any subsequent closing is referred to as a “Subsequent Closing Date.” Notwithstanding the foregoing, no more than the Maximum Amount of Units $3,600,000 in Securities will be sold at the First Closing and all Subsequent Closings. The First Closing and any applicable Subsequent Closings are each referred to in this Subscription Agreement as a “Closing.” The First Closing Date and any Subsequent Closing Dates are sometimes referred to herein as a “Closing Date.”

Subsequent Closings. The Company and the Placement Agent may continue to offer and accept subscriptions for the Units Shares and conduct additional closings (each, a “Subsequent Closing”) for the sale of such Units Shares after the First Closing and until the termination of the Offering. Unless earlier terminated by agreement of the Company and the Placement Agentterminated, this Offering will continue until May 27November 4, 20142019 unless the Company, in its sole discretion and without notice to Purchasers, extends the offering termination date to November 19, 2019. There may be more than one Subsequent Closing; provided, however, that the final Subsequent Closing shall take place no later than May 27November 4, 20142019 (or November 19, 2019 if the Company extends the termination date). The date of any subsequent closing is referred to as a “Subsequent Closing Date.” Notwithstanding the foregoing, no more than the Maximum Offering Amount of Units will be sold at the First Closing and all Subsequent Closings. The First Closing and any applicable Subsequent Closings are each referred to in this Subscription Agreement as a “Closing.” The First Closing Date and any Subsequent Closing Dates are sometimes referred to herein as a “Closing Date.”

Subsequent Closings. The Company Company, and the Placement Agent as the case may be, may continue to offer and accept subscriptions for the Units and conduct additional closings (each, a “Subsequent Closing”) for the sale of such Units after the First Closing and until the termination of the Offering. Unless earlier terminated by agreement of the Company and the Placement Agent, this Offering will continue until May 27February 28, 20142017, which termination date may be extended, without notice and at the sole discretion of the Company, for up to 60 days. There may be more than one Subsequent Closing; provided, however, that the final Subsequent Closing shall take place no later than May 27, 2014. The date of any subsequent closing is referred to as a “Subsequent Closing Date.” Notwithstanding the foregoing, no more than the Maximum Amount of Units will be sold at the First Closing and all Subsequent Closings. The First Closing and any applicable Subsequent Closings are each referred to in this Subscription Agreement as a “Closing.” The First Closing Date and any Subsequent Closing Dates are sometimes referred to herein as a “Closing Date.”