Adjusted Post-Money Valuation. Simultaneously with the delivery of the financial statements for the 2009 Fiscal Year pursuant to Section 8.1 of the Shareholders Agreement, but in any event within 60 days after the end of the 2009 Fiscal Year of the Company, the Company shall deliver to the Holder and the Investor, together with such financial statements, (i) an audited statement of profits and losses for the 2009 Fiscal Year (divided into two periods, i.e. a period from January 1, 2009 to December 31, 2009, and another period from January 1, 2010 to February 28, 2010), audited by the accounting firm agreed by the Company and the Holder, prepared in accordance with IFRS, and (ii) a statement of revenue and cost breakdown by project for the 2009 Fiscal Year issued by the Company and confirmed by the accounting firm in writing, setting forth in reasonable detail the calculation of Adjusted Post-Money Valuation. The Holder shall have the right to object to the determination of Adjusted Post-Money Valuation in accordance with Section 3(b) below.
Adjusted Post-Money Valuation. Simultaneously with the delivery of the financial statements for the 2009 Fiscal Year pursuant to Section 8.1 of the Shareholders Agreement, but in any event within 60 days after the end of the 2009 Fiscal Year of the Company, the Company shall deliver to the Holder, together with such financial statements, (i) an audited statement of profits and losses for the 2009 Fiscal Year (divided into two periods, i.e. a period from January 1, 2009 to December 31, 2009, and another period from January 1, 2010 to February 28, 2010), audited by the accounting firm agreed by the Company and the Holder, prepared in accordance with the IFRS, and (ii) a statement of revenue and cost breakdown by project for the 2009 Fiscal Year issued by the Company and confirmed by the accounting firm in writing, setting forth in reasonable detail the calculation of Adjusted Post-Money Valuation; provided, that if the Company fails to deliver such financial statements, statement of profits and losses, or such statement within 60 days after the end of the 2009 Fiscal Year, the Adjusted Post Money Valuation will be conclusively deemed lower than the Initial Post Money Valuation, the Holder’s Percentage Interest can be adjusted to up to 45% of the Company’s aggregate equity interest immediately after Closing on a fully-diluted basis at the Holder’s sole discretion and the Exercise Period will commence on the business day next following such 60th day. The Holder shall have the right to object to the determination of Adjusted Post-Money Valuation in accordance with Section 3(b) below.
