首次交割 Initial Closing

在Term Sheet里，规定了投资者的首次交割时间（initial closing），此处通常会设一个具体日期，大家也可以理解为基金的第一次call。

若该日期后，投资人还想出资，或者基金的资金已经投完，董事（会）事先可以指定一个或多个的Additional Closing Dates。这些Additional Closing Dates需要在基金存续期间内，或者董事（会）指定的时间内（如12个月，24个月，36个月内等）发生。

另外值得注意的是，管理人可以要求后期进入的投资者缴纳一笔额外的费用作为对那些在initial closing已经缴钱的投资者的时间成本补偿。

在具体上下文语境下，Initial Closing means the date of the initial sale of shares of the Company's Series C Preferred Stock pursuant to the Purchase Agreement.

例句1

Final Closing refers to such date no later than 12 months after the Initial Closing, subject to extension for 6 months or such other period that the General Partner may determine at the General Partner’s discretion.

最终交割指首次交割后不迟于12个月，可由普通合伙全权酌情延长6个月或其他期间。

例句2

1.5 Closing. The issuance of the Shares and delivery of Warrants pursuant to this Offering shall take place from time to time promptly after the acceptance of the subscription by the Company and the Company has received Investors Deliverables (the date on which such Shares are issued shall be referred to herein as the “Initial Closing Date”); provided that if Investor is purchasing the Securities subsequent to the Initial Closing Date, the issuance of the Shares and delivery of Warrants shall occur upon payment of the Aggregate Purchase Price by Investor and acceptance of Investor’s Agreement by the Company. The date on which the Securities are issued, whether on the Initial Closing Date or thereafter, shall be referred to herein as the “Closing Date;” provided, however, that no sales to subsequent Investors may be made after ______, 2024, 5:00 pm (PST). Following the Closing Date, the Company will promptly deliver to the Investor:

1.5 交割。在公司首次接受认购并收到投资人交付的文件之后，本次认购的股票应及时发行，认股权证应及时送达（股票及认股权证首次发行之日称为“首次交割日”）。若投资人在首次交割日之后购买证券，则股份的发行及认股权证的送达应在投资人支付总购买价款且公司接受经投资人签署的本协议之后立即进行。首次交割日或之后任一发行证券的日期，均称为“交割日”。尽管存在以上约定，本协议所述认购交易终止于2024年______月______日下午5:00（太平洋标准时间）。在交割日之后，公司将立即向投资人交付如下文件：