Company Election to Replace Certain Shares. In the event that the Company has sold, or has binding commitments to sell on or prior to the Effective Date, Permitted Replacement Shares, the Company may elect by written notice to each Purchaser to reduce the Total Purchase Amount by any portion of the number of such Permitted Replacement Shares as the Company may determine in its discretion; provided, that the Total Purchase Amount shall not be less than 190,000,000. No election by the Company under this Section 1.4 shall be effective unless received by each Purchaser on or prior to the tenth day prior to the hearing to approve the Confirmation Order under Bankruptcy Rule 2002. Any election by the Company under this Section 1.4 shall be binding and irrevocable.
Appears in 5 contracts
Samples: Stock Purchase Agreement (General Growth Properties Inc), Stock Purchase Agreement (General Growth Properties Inc), Stock Purchase Agreement
