The closing (the “ Closing ”) of the purchase of the Preferred Shares and the Warrants by the Purchasers shall occur at Company’s offices. The date and time of the Closing (the “ Closing Date ”) shall be 10:00 a.m., New York time, on the first (1st) Trading Day (as defined in the Certificate of Designations) on which the conditions to the Closing set forth in Sections 6 and 7 below are satisfied or waived (or such other date as is mutually agreed to by the Company and each Purchaser).