Common use of Tail Period Clause in Contracts

Tail Period. Notwithstanding any other provision of this Agreement, in the event that the Offering is not consummated by the Underwriters as contemplated herein, the Company agrees to pay the Representative a cash fee equal to eight percent (8.0%) of the equity gross proceeds received by the Company and four percent (4%) of the debt from the sale of any securities or debt instruments to any investor actually introduced by the Representative to the Company during the Engagement Period (as defined below) (the “Tail Financing”), and such Tail Financing is consummated at any time during the Engagement Period or within the twelve (12) month period following the expiration of the Engagement Period, provided that such financing is by a party actually introduced to the Company in an offering in which the Company has direct knowledge of such party’s participation. “Engagement Period” shall mean the period beginning on May 11, 2022, and ending on the earlier of (i) twelve (12) months from the date of such date, or (ii) the final closing, if any, of the Offering.

Tail Period. Notwithstanding any other provision of this Agreement, in the event that the Offering is not consummated by the Underwriters as contemplated herein, the Company agrees to pay the Representative a cash fee equal to eight percent (8.0%) of the equity gross proceeds received by the Company and four percent (4%) of the debt from the sale of any securities or debt instruments to any investor actually introduced by the Representative to the Company during the Engagement Period (as defined below) (the “Tail Financing”), and such Tail Financing is consummated at any time during the Engagement Period or within the twelve (12) month period following the expiration of the Engagement Period, provided that such financing is by a party actually introduced to the Company in an offering in which the Company has direct knowledge of such party’s participation. “Engagement Period” shall mean the period beginning on May 11June 28, 20222021, and ending on the earlier of (i) twelve (12) months from the date of such date, or (ii) the final closing, if any, of the Offering.