Common use of Third Tranche Closing Clause in Contracts

Third Tranche Closing. (i) The closing of the purchase and sale of the Third Tranche Shares pursuant to Section 1.1(d) hereof shall take place remotely via the exchange of documents and signatures on either the date specified in the Third Tranche Closing Notice delivered pursuant to Section 1.1(c)(ii) hereof, which date specified must be consistent with the applicable requirements of Section 1.1(d)(iii), or on such other date as the Company and those Purchasers that hold at least sixty five percent (65%) of the Initial Tranche Shares and Second Tranche Shares, if any, then outstanding mutually agree (the “Third Tranche Closing”). (ii) At the Third Tranche Closing, the Company shall deliver to each Purchaser a certificate representing the number of the Third Tranche Shares being purchased by such Purchaser pursuant to Section 1.1(d) hereof, against either (1) payment by such Purchaser of the purchase price for such number of the Third Tranche Shares by check payable to the Company, by wire transfer to a bank account designated by the Company or by any combination of such methods or (2) delivery by such Purchaser of a Net Issue Election Form that has been properly completed and duly executed by such Purchaser if such Purchaser is entitled to make a Net Issue Election pursuant to Section 1.1(d)(iii) in connection with the number of the Third Tranche Shares being purchased by such Purchaser pursuant to Section 1.1(d) hereof.