Conditions Precedent to Closing Escrow Sample Clauses

Conditions Precedent to Closing Escrow. CLX shall be required to raise a minimum of five hundred thousand dollars ($500,000) in the aggregate during the escrow period which shall be used for marketing and distribution of the Technology. Once these monies have been raised, and can be confirmed to ThyroTec, this escrow shall be terminated, and the Series C shares in CLX held pursuant to the purchase agreement shall be released to ThyroTec and the assignment of the Technology shall be delivered and transferred to CLX. In the event that CLX is unable or otherwise fails to raise the minimum $500,000 described herein within the six month escrow period, or alternatively fails to repay the Promissory Note in the amount of $750,000 within the 30 month term described in said Note, ThyroTec shall have the option, at its sole and absolute discretion, to cancel and terminate the transfer of the Technology to CLX. If ThyroTec cancels the transfer of the Technology based on the failure to raise the $500,000 capital, ThyroTec shall nevertheless receive 75,000 shares of Series C Preferred Shares from the shares held in escrow as consideration for CLX’s ability to use the Technology during the escrow period.
Sample 1
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Related to Conditions Precedent to Closing Escrow

  • Conditions Precedent to Closing The Local Church and Annual Conference acknowledge and agree that the obligations of the parties to effectuate the Closing on or about the Disaffiliation Date are expressly contingent and conditional on the following:

  • Conditions Precedent to Closing Date The obligation of the Lenders to make each Loan hereunder, and the obligation of the Letter of Credit Issuer to issue Letters of Credit hereunder, in each case, on the Closing Date are subject to the satisfaction on or prior to the Closing Date of each of the following conditions:

  • CONDITIONS PRECEDENT TO BUYER'S OBLIGATION TO CLOSE Buyer's obligation to purchase the Shares and to take the other actions required to be taken by Buyer at the Closing is subject to the satisfaction, at or prior to the Closing, of each of the following conditions (any of which may be waived by Buyer, in whole or in part):

  • CONDITIONS PRECEDENT TO SELLER'S OBLIGATION TO CLOSE Sellers' obligation to sell the Shares and to take the other actions required to be taken by Sellers at the Closing is subject to the satisfaction, at or prior to the Closing, of each of the following conditions (any of which may be waived by Sellers, in whole or in part):

  • Conditions Precedent to the Closing Conditions precedent to the Closing are as follows:

  • CONDITIONS PRECEDENT TO PURCHASER'S OBLIGATION TO CLOSE Purchaser’s obligation to purchase the Assets and to take the other actions required to be taken by Purchaser at the Closing is subject to the satisfaction, at or prior to the Closing, of each of the following conditions (any of which may be waived by Purchaser, in whole or in part, in writing):

  • Conditions Precedent to the Closing Date The obligation of the Lenders to execute this Agreement and make any requested Loans on the Closing Date is subject to the prior satisfaction of each of the following conditions (unless waived in writing by Administrative Agent with the consent of the Lenders):

  • Conditions Precedent to Buyer’s Obligations The obligations of Buyer under this Agreement are subject to satisfaction or waiver by Buyer of each of the following conditions or requirements on or before the Closing Date:

  • Conditions Precedent to Seller’s Obligations The obligations of Seller to effect the Closing of the transactions contemplated hereby are subject to the fulfillment, prior to or at the Closing, of each of the following conditions, any of which may be waived in writing by Seller:

  • Conditions Precedent The effectiveness of this Amendment is subject to the satisfaction of all of the following conditions precedent:

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