Common use of Delivery of the Clause in Contracts

Delivery of the. Firm Securities against payment therefor shall take place at the offices of Global Equities Group, Inc., 5 ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ (or at such other place as may be designated by agreement between you and the Company) at 10:00 a.m., New York Time, on , 1997, or at such later the and date, not later than three business days after the Effective Date, as the parties may mutually agree (such time and date of payment and delivery for the Firm Securities being herein called the "First Closing Date"). Time shall be of the essence and delivery of the Firm Securities at the time and place specified in this Section 2(b)(ii) is a further condition to the obligations of the Underwriters hereunder.