Common use of Draw Down Closing Deliverables Clause in Contracts

Draw Down Closing Deliverables. (a) On or prior to the Draw Down Settlement Date, the Company shall deliver or cause to be delivered to each participating Purchaser documentary evidence that the Transfer Agent has been duly directed to record, on the Company’s Share register in the name of such Purchaser the Draw-Down Shares for each Draw-Down Notice; the number of Draw Down Preferred Shares ascribed to each such Purchaser shall equal such Purchaser’s Purchaser Draw Down Amount divided by the Stated Value; and (b) On or prior to the Draw Down Settlement Date, each participating Purchaser shall deliver or cause to be delivered to the Company such Purchaser’s Purchaser Draw Down Amount by wire transfer to the account as specified in writing by the Company.

Draw Down Closing Deliverables. (a) On or prior to the Draw Down Settlement Date, the Company shall deliver or cause to be delivered to each participating Purchaser documentary evidence that the Transfer Agent has Preferred Shares purchased by such Purchaser have been duly directed to record, recorded on the CompanyIHL’s Preferred Share register in the name of such Purchaser the Draw-Down Shares for each Draw-Down Notice; Purchaser, it being understood that the number of Draw Down Preferred Shares ascribed to each such Purchaser shall equal such Purchaser’s Purchaser Draw Down Amount divided by the Stated Value,; and (b) On or prior to the Draw Down Settlement Date, each participating Purchaser shall deliver or cause to be delivered to the Company such Purchaser’s Purchaser Draw Down Amount by wire transfer to the account as specified in writing by the Company.