Common use of Closing Termination Clause in Contracts

Closing Termination. (a) The closing of the purchase and sale of the Purchased Securities referred to in Section 1.1(a) above (the "Initial Closing") will take place on the third business day after the conditions to the Initial Closing set forth in Sections 5.1 and 5.2 hereof shall have been satisfied or waived in writing, or on such other date as may be agreed by the parties hereto (the "Initial Closing Date"). (b) Each of the closings of the purchase and sale of the Purchased Securities referred to in Section 1.l(b) above (each a "Subsequent Closing" and, collectively together with the Initial Closing, the "Closings") will take place on the date specified in the notice delivered pursuant to Section 5.3, or on such other date as may be agreed by the parties hereto. (c) At each Closing, the Company will deliver to the Investor certificates evidencing the number of Purchased Securities to be purchased by the Investor pursuant to Sections 1.1 (a) or (b), as applicable, against payment of the purchase price therefor in cash, by wire transfer of immediately available funds, with confirmed receipt.