Common use of The Series D Closing Clause in Contracts

The Series D Closing. (i) The closing of the purchase and sale of the shares of Series D Preferred to be issued and sold at such closing in accordance herewith (the "Series D Shares", and such closing the "Series D Closing") shall take place at the offices of Robixxxx Xxxvxxxxx xx such date (which may not be prior to the tenth day after receipt of the notice described hereafter in this paragraph (b)) as the Company may designate in a written notice to Infinity (a "Subsequent Financing Notice") relating to the Series D Shares which the Company may deliver no earlier than 180 days after the date hereof and no later than 210 days after the date hereof (such 210th day, the "Series D Closing Expiration Date"), which Subsequent Financing Notice shall set forth the number of Series D Shares (which may not be less than 50,000 nor in excess of (i) 250,000 shares, if the Company's Market Capitalization (not inclusive of the proceeds from the Series D Closing) is less than $80,000,000 on the Series D Closing Date, (ii) 300,000 shares, if the Company's Market Capitalization (not inclusive of the proceeds from the Series D Closing) is between $80,000,000 and $115,000,000 on the Series D Closing Date or (iii) 350,000 shares, if the Company's Market Capitalization (not inclusive of the proceeds from the Series D Closing) is greater than $115,000,000 on the Series D Closing Date) that the Company intends to sell to Infinity (or an eligible affiliate thereof specified by Infinity (an "Infinity Affiliate") provided, however, that in no case shall the Series D Closing take place unless and until the conditions listed in Section 4.2 have been satisfied or waived by the appropriate party. The date of the Series D Closing is hereinafter referred to as the "Series D Closing Date."

The Series D Closing. (i) The closing of the purchase and sale of the shares of Series D Preferred to be issued and sold at such closing in accordance herewith Shares (the "Series SERIES D Shares", and such closing the "Series D ClosingCLOSING") shall take place at the offices of Robixxxx Xxxvxxxxx xx such date (which may not be prior to the tenth day after receipt of the notice described hereafter in this paragraph (b)) as the Company may designate in a written notice to Infinity (a "Subsequent Financing Notice") Notice relating to the Series D Shares Shares) as the Company shall designate in the Subsequent Financing Notice relating to the Series D Shares, which the Company may deliver no earlier than 180 days after the date hereof April 1, 1997 and no later than 210 days after the date hereof (such 210th dayJune 20, the "Series D Closing Expiration Date")1997, which Subsequent Financing Notice shall set forth the number of Series D Shares (which may not be less than 50,000 nor in excess of (i) 250,000 shares, if the Company's Market Capitalization (not inclusive of the proceeds from the Series D Closing) is less than $80,000,000 on the Series D Closing Date, (ii) 300,000 shares, if the Company's Market Capitalization (not inclusive of the proceeds from the Series D Closing) is between $80,000,000 and $115,000,000 on the Series D Closing Date or (iii) 350,000 shares, if the Company's Market Capitalization (not inclusive of the proceeds from the Series D Closing) is greater than $115,000,000 on the Series D Closing Dateexceed 3,000) that the Company intends to sell to Infinity the Purchaser, PROVIDED, HOWEVER, in no case shall the Series D Closing take place (A) earlier than the later to occur of April 11, 1997 and the tenth day after receipt of the Subsequent Financing Notice relating to such Closing or an eligible affiliate thereof specified by Infinity (an B) later than June 30, 1997 (the "Infinity AffiliateSERIES D CLOSING EXPIRATION DATE") provided), howeverand, PROVIDED, FURTHER, that in no case shall the Series D Closing take place unless and until the conditions listed in Section 4.2 have been satisfied or waived by the appropriate party. The date of the Series D Closing is hereinafter referred to as the "Series D Closing Date."

The Series D Closing. (i) The closing of the purchase and sale of the shares of Series D Preferred to be issued and sold at such closing in accordance herewith (the "Series D Shares", and such closing the "Series D Closing") shall take place at the offices of Robixxxx Xxxvxxxxx xx such date (which may not be prior to the tenth day fifteenth Trading Day after receipt of the notice described hereafter in this paragraph (bc)) as the Company may designate in a written notice to Infinity (a "Subsequent Financing Notice") Notice relating to the Series D Shares which the Company may deliver no earlier than 180 the later of 60 days after (x) such date as the date hereof Registration Statement (defined below) with respect to the Series C Shares is declared effective (provided, however, that any days during which the holder of the Series C Shares was not permitted to sell Series C Shares pursuant to an effective Registration Statement, shall be added to such sixty (60) day period) and no (y) the Series C Closing Expiration Date, and not later than 210 150 days after from the date hereof Series C Closing Expiration Date (such 210th day, the "Series D Closing Expiration Date"), which Subsequent Financing Notice shall set forth the number of shares of Series D Shares (which may Preferred that the Company intends to sell to the Purchaser, provided, however that such number shall not be less than 50,000 nor in excess of (i) 250,000 400 shares, if the Company's Market Capitalization (not inclusive of the proceeds from the Series D Closing) is less than $80,000,000 on the Series D Closing Date45,000,000, (ii) 300,000 600 shares, if the Company's Market Capitalization (not inclusive of the proceeds from the Series D Closing) is between $80,000,000 45,000,000 and $115,000,000 on the Series D Closing Date or 64,999,999, (iii) 350,000 800 shares, if the Company's Market Capitalization (not inclusive of the proceeds from the Series D Closing) is greater than between $115,000,000 on 65,000,000 and $84,999,999, and (iv) 1000 shares, if the Company's Market Capitalization (not inclusive of the proceeds from the Series D Closing DateClosing) that the Company intends to sell to Infinity (or an eligible affiliate thereof specified by Infinity (an "Infinity Affiliate") provided, however, that is in no case shall the Series D Closing take place unless and until the conditions listed in Section 4.2 have been satisfied or waived by the appropriate party. The date excess of the Series D Closing is hereinafter referred to as the "Series D Closing Date$84,999,999."