Common use of Subsequent Closing Conditions Clause in Contracts

Subsequent Closing Conditions. As a condition precedent for the closing of the second Note (Buyer Note, above), the following must occur: (i) the Company must be “current” in its filings with the Securities and Exchange Commission; (ii) the Company must have a sufficient number of authorized but unissued shares of Common Stock available to reserve four times (4x) the discounted value of such Note, as applicable, being issued on such Closing Date; and (iii) the Company must have aggregate trading volume of at least $17,000 for the 5 trading days prior to the funding date.

Subsequent Closing Conditions. As a condition precedent for the closing of the second Note (Buyer NoteNote 2, above), the following must occur: (i) the Company must be “current” in its filings with the Securities and Exchange Commission; (ii) the Company must have a sufficient number of authorized but unissued shares of Common Stock available to reserve four times (4x) the discounted value of such Note, as applicable, being issued on such Closing Date; and (iii) the Company must have aggregate trading volume of at least $17,000 for the 5 trading days prior to the funding date.