Tranche 3 Closing Sample Clauses

Tranche 3 Closing. (a) Subject to the terms and conditions set forth in this Agreement, the Company shall have the right to deliver a Subsequent Financing Notice requiring the Purchaser to purchase Debentures in such principal amount as the Company may designate in such notice, which may not be more than $500,000 (the "Tranche 3 Debentures") and the Tranche 3 Warrants (as defined in Section 3.15). The Company may not deliver the Subsequent Financing Notice relating to the Tranche 3 Debentures earlier than 75 days nor later than 105 days after the earlier to occur of the Tranche 2 Closing Date or the Tranche 2 Closing Expiration Date or, if such day is not a Business Day, the next succeeding Business Day. The closing of the purchase and sale of the Tranche 3 Debentures (the "Tranche 3 Closing") shall take place at the offices of RSPAB on such date (which may not, without the consent of the Purchaser, be prior to the fifteenth day after receipt of the Subsequent Financing Notice relating to the Tranche 3 Debentures or, if such day is not a Business Day, the next succeeding Business Day) as the Company may designate in the Subsequent Financing Notice relating to the Tranche 3 Debentures; provided, however, that in no case shall the Tranche 3 Closing take place unless and until the conditions listed in Section 4.1 have been satisfied or waived by the appropriate party and in no event shall the Tranche 3 Closing occur subsequent to the 120th day after the earlier the earlier to occur of the Tranche 2 Closing Date or Tranche 2 Closing Expiration Date or, if such day is not a Business Day, the next succeeding Business Day (such date, the "Tranche 3 Closing Expiration Date"). The date of the Tranche 3 Closing is hereinafter referred to as the "Tranche 3 Closing Date." (b) At the Tranche 3 Closing, (i) the Company shall deliver to the Purchaser (a) the Tranche 3 Debentures and Tranche 3 Warrants, each registered in the name of the Purchaser, and (b) all other documents, instruments and writings required to have been delivered at or prior to the Tranche 3 Closing by the Company pursuant to this Agreement, and (ii) the Purchaser shall deliver to the Company (a) an amount equal to the aggregate principal amount of Tranche 3 Debentures to be sold at the Tranche 3 Closing in accordance with this Section less the fees contemplated by Sections 2.1(l) and 5.1, in immediately available funds by wire transfer to an account designated in writing by the Company prior to the Tranche 3 Closing Dat...