Common use of Second Closing Clause in Contracts

Second Closing. The closing of the purchase of the Common Shares by the Purchasers pursuant to Section 1.1(b) (the “Second Closing”) shall occur on the date of the closing of the Rights Offering and the backstop purchase to be provided, if required, by CapGen pursuant to the CapGen Investment Agreement following the satisfaction of the conditions to the Second Closing set forth in Section 1.2(f) (other than those conditions that by their nature are to be satisfied at the Second Closing, but subject to the satisfaction or waiver of those conditions (provided, that the Company shall provide the Purchasers with notice of the Second Closing Date and provided further that the Second Closing Date shall be postponed as necessary to ensure that the Second Closing Date occurs no earlier than ten (10) Business Days after the foregoing notice has been provided by the Company to the Purchasers) at the offices of offices of Xxxxxxx Xxxxxxx & Xxxxxxxx located at 000 Xxxxxxxxx Xxxxxx, Xxx Xxxx, XX 00000 or such other date or location as agreed in writing by the parties. The date of the Second Closing is referred to as the “Second Closing Date.” The term “Closing” shall apply to the First Closing and/or the Second Closing, as applicable and the term “Closings” shall refer to the First Closing and the Second Closing, collectively. The term “Closing Date” shall apply to the First Closing Date and/or the Second Closing Date, as applicable and the term “Closing Dates” shall refer to the First Closing Date and the Second Closing Date, collectively.

Second Closing. If the Second Closing Milestones (as defined in Section 4.01(q)) are met, the Second Closing shall take place within thirty (30) days after the Company provides the Purchaser with written notice, accompanied by satisfactory documentation, that the Second Closing Milestones have been met; provided, however, the Second Closing shall not occur prior to March 1, 2006. Notwithstanding the foregoing, upon 30-days prior written notice to the Company, the Purchaser shall have the right, but not the obligation, to cause the Second Closing to occur at any time after the First Closing. The Second Closing shall take place at 10:00 a.m. at the offices of Akin Gump Xxxxxxx Xxxxx & Xxxx LLP, 000 Xxxxxxx Xxxxxx, Xxxxx 0000, Xxx Xxxxxxx, Xxxxx 00000, or at such other location, on a date and time as may be agreed upon between the Company and the Purchaser in accordance with the terms as set forth in this Section 1.04 (such closing of the purchase of the Common Shares by the Purchasers pursuant to Section 1.1(b) (being called the “Second Closing”) shall occur on the ” and such date of the closing of the Rights Offering and the backstop purchase to be provided, if required, by CapGen pursuant to the CapGen Investment Agreement following the satisfaction of the conditions to the Second Closing set forth in Section 1.2(f) (other than those conditions that by their nature are to be satisfied at the Second Closing, but subject to the satisfaction or waiver of those conditions (provided, that the Company shall provide the Purchasers with notice of the Second Closing Date and provided further that the Second Closing Date shall be postponed as necessary to ensure that the Second Closing Date occurs no earlier than ten (10) Business Days after the foregoing notice has been provided by the Company to the Purchasers) at the offices of offices of Xxxxxxx Xxxxxxx & Xxxxxxxx located at 000 Xxxxxxxxx Xxxxxx, Xxx Xxxx, XX 00000 or such other date or location as agreed in writing by the parties. The date of the Second Closing is referred to as time being called the “Second Closing Date.” The term “Closing” shall apply to the First Closing and/or ”). At the Second Closing, as applicable the Company shall issue and the term “Closings” shall refer deliver to the Purchaser a certificate representing the 280,000 Series A-2 Shares. As payment in full for the Series A-2 Shares, on the Second Closing Date the Purchaser shall pay in immediately available funds to the Company $7,000,000 by wire transfer or by such other method as may be reasonably acceptable to the Company. Such amounts shall be paid to the account of the Company as shall have been designated in writing a reasonable time in advance to the Purchaser by the Company. The First Closing and the Second Closing, collectively. The term if any, shall hereinafter be referred to individually as a “Closing DateClosing” shall apply to and collectively as the First Closing Date and/or the Second Closing Date“Closings.” For purposes of this Agreement, as applicable and the term “Closing Dates” shall refer to the First Closing Date and the Second Closing Date, collectivelyif any, shall be deemed a “Closing Date” as such term is used in this Agreement.

Second Closing. The closing of the purchase of the Common Shares by the Purchasers Investor pursuant to Section 1.1(b) (the “Second Closing”) shall occur on the date of the closing of the Rights Offering and the backstop purchase to be provided, if required, by CapGen pursuant to the CapGen Investment Agreement following the satisfaction of the conditions to the Second Closing set forth in Section 1.2(f) (other than those conditions that by their nature are to be satisfied at the Second Closing, but subject to the satisfaction or waiver of those conditions conditions) (provided, that the Company shall provide the Purchasers with notice of Investor may postpone the Second Closing Date and provided further that the Second Closing Date shall be postponed as necessary for up to ensure that the Second Closing Date occurs no earlier than ten (10) Business Days after following the foregoing notice has been provided by satisfaction or waiver of the Company conditions to the PurchasersSecond Closing set forth in Section 1.2(f) if necessary to make a capital call to its members) at the offices of offices of Xxxxx Xxxx LLP, 000 Xxxx Xxxxxxx Xxxxxxx & Xxxxxxxx located at 000 Xxxxxxxxx Xxxxxx, Xxx Xxxxx 0000, Xxxxxx Xxxx, XX Xxxxxxxx 00000 or such other date or location as agreed in writing by the parties. The date of the Second Closing is referred to as the “Second Closing Date.” The term “Closing” shall apply to the First Closing and/or the Second Closing, as applicable and the term “Closings” shall refer to the First Closing and the Second Closing, collectively. The term “Closing Date” shall apply to the First Closing Date and/or the Second Closing Date, as applicable and the term “Closing Dates” shall refer to the First Closing Date and the Second Closing Date, collectively.