Common use of Appointment of Placement Agent Clause in Contracts

Appointment of Placement Agent. (a) You are hereby appointed exclusive Placement Agent of the Company (subject to your right to have Selected Dealers, as defined in Section 1(c) hereof, participate in the Offering) during the Offering Period herein specified for the purposes of assisting the Company in finding qualified Subscribers pursuant to the offering (the "Offering") described in the Offering Documents. The Offering Period shall commence on the day (the "Commencement Date") the Offering Documents are first made available to you by the Company for delivery in connection with the offering for sale of the Units and shall continue until the earlier to occur of (i) the sale of all of the Maximum Offering or (ii) April 30, 1999 (unless extended for a period of up to 30 days under circumstances specified in the Term Sheet). If the Minimum Offering is not sold prior to the end of the Offering Period, the Offering will be terminated and all funds received from Subscribers will be returned, without interest and without any deduction. The day that the Offering Period terminates is hereinafter referred to as the "Termination Date."

Appointment of Placement Agent. (a) You are hereby appointed exclusive Placement Agent of the Company (subject to your right to have Selected Dealers, as defined in Section 1(c) hereof, participate in the Offering) during the Offering Period herein specified for the purposes of assisting the Company in finding qualified Subscribers pursuant to the offering (the "Offering") described in the Offering Documents. The Offering Period shall commence on the day (the "Commencement Date") the Offering Documents are first made available to you by the Company for delivery in connection with the offering for sale of the Units and shall continue until the earlier to occur of (i) the sale of all of the Maximum Offering or (ii) April 30, 1999 60 days after the Commencement Date (unless extended for a period of up to 30 60 days under circumstances specified in the Term SheetMemorandum). If the Minimum Offering is not sold prior to the end of the Offering Period, the Offering will be terminated and all funds received from Subscribers will be returned, without interest and without any deduction. The day that the Offering Period terminates is hereinafter referred to as the "Termination Date."

Appointment of Placement Agent. (a) You are hereby appointed exclusive Placement Agent of the Company (subject to your right to have Selected Dealers, as defined in Section 1(c) hereof, participate in the Offering) during the Offering Period herein specified for the purposes of assisting the Company in finding qualified Subscribers pursuant to the offering (the "Offering") described in the Offering Documents. The Offering Period shall commence on the day (the "Commencement Date") the Offering Documents are first made available to you by the Company for delivery in connection with the offering for sale of the Units and shall continue until the earlier to occur of (i) the sale of all of the Maximum Offering or (ii) April 30July 31, 1999; provided, however, that if the Minimum Offering has been sold by such date, the Offering will continue until August 31, 1999 (unless extended for a period of up to 30 days under circumstances specified in the Term Sheet). If the Minimum Offering is not sold prior to the end of the Offering PeriodJuly 31, 1999, the Offering will be terminated and all funds received from Subscribers will be returned, without interest and without any deduction. The day that the Offering Period terminates is hereinafter referred to as the "Termination Date."

Appointment of Placement Agent. (a) You are hereby appointed exclusive placement agent (the "Placement Agent Agent") of the Company (subject to your right to have Selected Dealers, as defined in Section 1(c) hereof, participate in the Offering) during the Offering Period offering period herein specified (the "Offering Period") for the purposes purpose of assisting the Company in finding qualified Subscribers pursuant to the offering investors (the "OfferingSubscribers") described in the Offering Documents). The Offering Period shall commence on the day (the "Commencement Date") the Offering Documents are first made available to you by the Company for delivery in connection with the offering for sale of the Units and shall continue until the earlier to occur of (i) 30th day following the sale of all of the Maximum Offering or (ii) April 30date first written above, 1999 (unless extended for a period of up to 30 days under circumstances specified in the Term Sheet). If the Minimum Offering is not sold prior to the end of the Offering PeriodPROVIDED, the Offering will Period may be extended for an additional period not to exceed 10 days by the mutual agreement of the Company and the Placement Agent, or may be terminated and earlier if all funds received from Subscribers will be returned, without interest and without any deduction$200,000 of the Units offered hereby have been sold. The day that the Offering Period terminates is hereinafter referred to as the "Termination Date."" You hereby accept such agency and agree to assist the Company in finding qualified subscribers. Your agency hereunder is not terminable by the Company except upon termination of the Offering. You shall have the right to enter into selling agreements with members of your selling group, who shall be members of the NASD (as hereunder defined).