Common use of Conditions Precedent to the Obligation of the Company to Sell the Shares Clause in Contracts

Conditions Precedent to the Obligation of the Company to Sell the Shares. There is no obligation of the Company to sell Shares hereunder to the Purchaser; such sales are at the sole election and discretion of the Company. However, having elected to issue a Draw Down Notice to the Purchaser, the obligation hereunder of the Company to proceed to issue and sell the Shares to the Purchaser is subject to the satisfaction or waiver, at or before the Initial Closing, and as of each Settlement Date of each of the conditions set forth below. These conditions are for the Company’s sole benefit and may be waived by the Company in writing at any time in its sole discretion.