Second Closing definition
Examples of Second Closing in a sentence
For the avoidance of doubt, the Company’s failure to achieve satisfaction or waiver all of the closing conditions set forth in Section 2.3 applicable to the Second Closing in accordance with the terms set forth herein shall have no effect on the Initial Closing and shall not give rise to any termination rights hereunder.
On the Closing Date for the Second Closing, the Purchaser shall deliver to the Company, via wire transfer, immediately available funds equal to the Second Subscription Amount and the Company shall deliver to the Purchaser its Preferred Shares and Common Warrants, as determined pursuant to Section 2.2(c), and the Company and the Purchaser shall deliver the other items set forth in Section 2.2 deliverable at the Second Closing.
By way of illustration only, if the average daily trading volume of the Common Stock on the Principal Market during the ten consecutive Trading Days immediately prior to the Second Closing Date is at least $450,000, then the Second Subscription Amount on the Second Closing Date shall be $5,000,000 of Units.