Common use of Closing; Closing Deliverables Clause in Contracts

Closing; Closing Deliverables. Unless otherwise directed by the Placement Agent, settlement of the Securities shall occur via “Delivery Versus Payment” (“DVP”) (i.e., on the Closing Date, the Company shall cause the Depositary to issue the Securities directly to the clearing firm designated by the Placement Agent; upon receipt of such Securities, the Placement Agent shall promptly electronically deliver such Securities to the applicable Purchaser, and payment therefor shall be made by the Placement Agent (or its clearing firm) by wire transfer to the Company). The Securities sold under the Securities Purchase Agreement shall be settled as set forth in the Securities Purchase Agreement and shall be registered in such name or names and in such authorized denominations as set forth therein.