Common use of Conditions to Both Parties’ Obligations Clause in Contracts

Conditions to Both Parties’ Obligations. The obligations of the Company and the Standby Purchaser to consummate the transactions contemplated hereunder in connection with the Equity Offering are subject to the fulfillment, prior to or on the Closing Date, of the following conditions: (i) the Equity Offering will be consummated pursuant to separate subscription agreements with other stockholders of the Company exercising their Basic Subscription Privilege concurrently with the Closing of the issuance and sale of the Unsubscribed Shares to the Standby Purchaser pursuant to this Agreement; (ii) no judgment, injunction, decree, regulatory proceeding or other legal restraint shall prohibit, or have the effect of rendering unachievable, the consummation of the Equity Offering or the transactions contemplated by this Agreement; and (iii) there has not been a Material Adverse Effect.