Common use of Initial Delivery Clause in Contracts

Initial Delivery. At the Initial Closing, EIS shall pay the purchase price for the Preferred Stock and the Warrant to an account designated by the Company, and the parties hereto shall execute and deliver to each other, as applicable, (i) certificates in respect of the shares of Preferred Stock, (ii) the Warrant, (iii) certificates as to the incumbency of the officers of the Company executing this Agreement and (iv) any other documents or instruments executed in connection herewith. In addition, at the Initial Closing, the Company shall cause to be delivered to EIS an opinion of counsel in connection with the issuance of the Preferred Stock and the Warrant in form attached hereto as Exhibit D.