Common use of The Closings Clause in Contracts

The Closings. The initial closing of the loan transactions contemplated hereby (the "Initial Closing") shall be held at 12:00 noon, Pacific Time on the next business day after the date hereof or such other date and time as the parties hereto may mutually agree (the "Initial Closing Date"). Subsequent closings ("Subsequent Closings" and together with the Initial Closing, the "Closings") shall take place at 12:00 p.m. Pacific Time on the second business day following the date the Company shall deliver to the Lender a Borrowing Certificate in the form attached hereto ("Subsequent Closing Dates"), provided that such borrowing request, together with all prior borrowing requests that have been funded, does not exceed the Maximum Loan Commitment Amount. The Closings shall take place at the principal executive offices of the Company, in Van Nuys, California or at such other place or in such other manner as the parties hereto may mutually agree. These amounts advanced by the Lender pursuant to such borrowing requests are referred to as the "Loans."

The Closings. The initial closing of the loan transactions contemplated hereby purchase and sale of the Securities (the "Initial Closing") shall be held at 12:00 noon, Pacific Time on the next business day after the date hereof or such other date and time as the parties hereto may mutually agree (the "Initial Closing Date"). Subsequent closings ("Subsequent Closings" and together with the Initial Closing, the "Closings") shall take place at 12:00 p.m. Pacific Time on the second business day following the date the Company shall deliver to the Lender Purchaser a Borrowing Certificate in the form attached hereto borrowing request ("Subsequent Closing Dates"), provided that such borrowing request, together with all prior borrowing requests that have been funded, does not exceed USD$5,000,000 (the Maximum "Loan Commitment AmountCommitment"). On the Initial Closing Date, the Company will deliver to the Purchaser the Note and this Agreement. On the Initial Closing Date and on each Subsequent Closing Date, the Company shall deliver to the Purchaser certificates representing the number of Warrants issuable to the Purchaser on such date. The Closings shall take place at the principal executive offices of the Company, in Van Nuys, California or at such other place or in such other manner as the parties hereto may mutually agree. These amounts advanced by the Lender pursuant to such borrowing requests are referred to as the "Loans."