Financing Activities. If Purchaser or any person on behalf of Purchaser shall engage in any activities relating to raising money from the sale of equity securities or any other investment, then any such funds shall be strictly segregated and held by a third party in an escrow account, in order that such funds shall be returned to any such investors promptly and in full in case this Agreement is terminated prior to the Effective Date. Any violation of the conditions of this Section 6.10 shall be a condition excusing Company from closing the transaction, and a cause for Company to terminate this Agreement.
Appears in 2 contracts
Sources: Merger Agreement, Acquisition and Merger Agreement (Serino 1, Corp.)