Common use of AAI’s Option Clause in Contracts

AAI’s Option. 3.3.3.1 The Parties hereby further acknowledge and agree that, subsequent to the Initial Subscription, AAI (along with AAI Nominees) shall have the right, but not the obligation, to subscribe to such number of Equity Shares in any subsequent capitalization of the JVC, proportionate to its then shareholding in the JVC (“Option”). It is hereby expressly acknowledged and agreed between the Parties that to the extent any AAI Nominee does not subscribe (whether in whole or in part) to any Equity Shares that it is otherwise entitled to subscribe in any future capitalization of the JVC, AAI (or any other AAI Nominee(s) designated by AAI in this regard) shall have the right, but not the obligation, to subscribe (whether in whole or in part) to such number of Equity Shares as the AAI Nominee was entitled to subscribe but did not subscribe in such future capitalization of the JVC.