Series B Closing Date Clause Samples
The 'Series B Closing Date' clause defines the specific date on which the Series B financing transaction is officially completed and the new investment funds are transferred. In practice, this clause establishes a clear timeline for when the company will receive the Series B capital and when the new shares will be issued to investors. By setting this date, the clause ensures all parties are aligned on the timing of key obligations and deliverables, thereby reducing uncertainty and facilitating a smooth closing process.
Series B Closing Date. In addition, within ten (10) business days following delivery of notice by the Company that the conditions set forth in Section 6 below have been satisfied, the closing of the purchase and sale of the Series B Preferred shall be held at the offices of Wils▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ & ▇osa▇▇, ▇▇0 ▇▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ (▇▇ich time and place shall be referred to as the "Series B Closing" and the date of the Series B Closing is hereinafter referred to as the "Series B Closing Date"). Such Series B Closing shall be held on such date and at such time as the parties agree and absent such agreement, on the tenth (10th) business day following delivery of the foregoing described notice at 10:00 a.m., local time.
Series B Closing Date. Subject to the satisfaction (or waiver) of the conditions set forth in this Section 1(b)(ii) and Sections 6(b) and 7(b) below, the date and time of the Series B Closing shall be 10:00 a.m., New York time on the third (3rd) Trading Day after the Stockholder Approval Date (as defined below) (or such later date as is mutually agreed to by the Company and each Buyer) (the “Series B Closing Date,” and the Series A Closing Date and the Series B Closing Date, each, a "Closing Date”). Notwithstanding anything herein to the contrary, if the Series B Closing Date has not occurred by July 1, 2013 (or such later date as mutually agreed upon by the Company and each Buyer) (the “Series B Closing Expiration Date”), no Series B Closing shall occur hereunder.