Term. The initial term shall be sixty (60) days following the date on which Purifund notifies the Company that it has received Purifund' review and approval by its internal committee to onboard Company onto the Online Platform (the “Initial Term”). The Initial Term shall automatically renew for successive thirty (30) day periods (each a “Renewal Term”, and together with the Initial Term, the “Term”).
Termination. The Term will automatically terminate at the earlier of the final Closing or on the one-year anniversary date of the Effective Date (the “Termination Date”). Either party may terminate these terms at any point prior to the date on which the Company agrees to the attached Exhibits by providing written notice (“Early Termination”). Furthermore, if Purifund chooses not to serve as Company’s placement agent for the Offering, in its sole discretion, these terms shall automatically terminate, and no Compensation or Expenses shall be due.
Fees Due at Termination or Expiration of Initial Term. Except in the case of a Failed Offering, if subsequent to agreeing to the attached Exhibits, the Launch Date does not occur prior to the end of the Initial Term or Company provides notice of termination prior to a Closing, Company authorizes Purifund to charge Company the Expenses of $10,000 as described above, which shall be due immediately.