Common use of Conditions of Each Purchaser's Obligation Clause in Contracts

Conditions of Each Purchaser's Obligation. The obligation to purchase and pay for the Notes and the Warrants which each Purchaser has agreed to purchase at the Closing is subject to the fulfillment prior to or at the Closing of the following conditions. In the event that any such condition is not fulfilled to the satisfaction of each Purchaser, or in the event that any of the Purchasers does not proceed with the purchase of the number of Notes or Warrants it has committed to purchase, then no Purchaser shall be obligated to proceed with the purchase of such Notes or Warrants.