IPO CONDITION Clause Samples

IPO CONDITION. The obligation of either Seller or Buyer to close the transaction contemplated hereby is subject to the consummation of the IPO (the "IPO CONDITION"). Buyer shall have the period beginning on the Contract Date and ending on September 30, 1998 (the "IPO PERIOD") for satisfaction of the IPO Condition. Failure of Buyer to consummate the IPO within the IPO Period shall, without further action of either party, constitute termination of this Agreement, whereupon neither party shall have any further rights or obligations hereunder, except for rights and obligations which are expressly provided in this Agreement to survive such termination.

IPO CONDITION. Conversion of the Note into Shares may only occur if the Company successfully completes an IPO within the term of this Note. If no IPO occurs before the Maturity Date, this Note shall be repaid in accordance with Section 1.

IPO CONDITION. The transaction contemplated by this Agreement is subject to the consummation of the IPO (the "IPO CONDITION"). Buyer shall have a period from the Contract Date until August 31, 1998 (the "IPO PERIOD") for satisfaction of the IPO Condition. Further, Buyer shall have the right to extend the IPO Period for up to two (2) additional 30-day extension periods, by delivering to Seller, in each instance, an additional $50,000.00 extension fee, which shall be made on up to two (2) occasions, each prior to the end of the then current IPO Period, for each 30-day extension so elected by Buyer. The aforesaid extension fee(s) shall

IPO CONDITION. The obligation of either Transferors or Transferee to close the transaction contemplated hereby is, at the option of each party, subject to the consummation of the IPO (the "IPO Condition").