Common use of Financing Event Clause in Contracts

Financing Event. (i) the closing of the initial public offering of --------------- Preview's common stock registered under the Securities Act of 1933, as amended, pursuant to an underwritten firm commitment public offering from a prominent underwriter, in which the aggregate gross proceeds to Preview, net of underwriting discounts and commissions, exceed $25,000,000 for listing on a major exchange (the "IPO") or (ii) the closing of a private equity investment in Preview which, when compared with the IPO, creates for Preview the same or greater amount of net proceeds, provides Preview with access to cash and has the same or greater overall value (e.g., market perception), as determined by AOL in its reasonable discretion.