Allocation of Unsubscribed Shares. Promptly following the expiration of the Rights Offering, the Company will determine the amount of Unsubscribed Shares. Upon the Company’s determination of the number of Unsubscribed Shares, the Company promptly will notify the Standby Purchaser in writing of the amount of Common Stock to be purchased by it, which amount may be less than the Commitment Amount (the “Allocated Amount”).
Allocation of Unsubscribed Shares. Promptly following the expiration of the Equity Offering on March 29, 2024 (the “Subscription Deadline”), the Company will determine the amount of Unsubscribed Shares. Upon the Company’s determination of the number of Unsubscribed Shares, the Company promptly will notify the Standby Purchaser in writing of the aggregate amount of Unsubscribed Shares to be purchased by it, which amount may be less than the Commitment Amount (the “Allocated Amount”).
Allocation of Unsubscribed Shares. Promptly following the expiration of the Rights Offering, the Company will determine the amount of Unsubscribed Shares. The Company shall allocate the Unsubscribed Shares among the Investors on a pro rata basis based on each Investor’s Commitment Shares in the Standby Offering. Upon the Company’s allocation of the Unsubscribed Shares to the Investors, the Company will promptly notify the Standby Purchaser in writing of the number of Unsubscribed Shares allocated to the Standby Purchaser (the “Allocated Shares”), which number may be less than the number of Commitment Shares. Notwithstanding anything to the contrary contained herein, the Company may, in its sole discretion and at any time prior to the Closing, reduce the number of Allocated Shares to the extent necessary to ensure that, after giving effect to the Rights Offering and the issuance of all shares of Common Stock offered in the Standby Offering, the Standby Purchaser will not beneficially own capital securities of the Company which entitle the Standby Purchaser to cast more than 9.9% of the aggregate number of votes which may be cast by all holders of the Company’s outstanding capital securities on matters submitted to such holders for a vote (the “Voting Limitation”). The Company will promptly notify the Standby Purchaser in writing of any reduction in the Allocated Shares based on the Voting Limitation.
Allocation of Unsubscribed Shares. Promptly following the expiration of the Rights Offering, the Company shall determine the number of Unsubscribed Shares. Upon the Company’s determination of the number of Unsubscribed Shares, which shall be deemed to be correct, absent manifest error, the Company shall promptly notify each of the Standby Purchasers in writing of the number of shares of Class B Common Stock to be purchased by such Standby Purchaser, which amount may be less than or equal to such Standby Purchaser’s Pro Rata Portion of the Unsubscribed Shares (the “Allocated Shares”).
