Common use of Conditions Precedent to the Vesting of the Warrants Clause in Contracts

Conditions Precedent to the Vesting of the Warrants. The Manager’s Warrants under each Series shall vest on the respective Vesting Date or before such date upon the occurrence of one or more Acceleration Events, subject to the provisions of Section 6.3, upon the fulfillment of all the following conditions precedent: A) the Managers shall represent and warrant by notice to the Company that they are holders, directly or indirectly, through any affiliated vehicles, of at least 45 million shares of the Company, computing to such effect the shares directly or indirectly acquired by the Managers upon exercise of the Warrants. If such requirement shall not have been met by the Managers from the Vesting Date until the seventh business day thereafter, the Manager’s Warrants that are not Vested Warrants shall expire, unless the Manager represents and warrants by notice to the Company that it is holder, directly or indirectly through any affiliated vehicles, of at least a number of shares of the Company that represents 9% of 45 million shares of the Company, to which end any shares acquired by the Manager upon exercise of the Warrants shall be computed. For purposes of this definition, affiliated vehicles shall mean those entities in respect of which the Managers directly or indirectly hold at least fifty percent (50%) of the stock capital. B) the Company’s Audit Committee shall have verified the absence of any material default of the Manager’s obligations under the Opportunities Assignment Agreement, to which effect the Managers shall abstain from taking part in the debate. If a material default of the Manager’s obligations were proved to exist, the Manager’s Warrants that are not Vested Warrants shall expire; unless such default is cured in accordance with the provisions of the Opportunities Assignment Agreement, and such expiration shall be immediately notified to the Registrar.

Conditions Precedent to the Vesting of the Warrants. The Manager’s Warrants under each Series shall be vest on the respective Vesting Date or before such date upon the occurrence of one or more Acceleration Events, subject to the provisions of Section 6.3, upon the fulfillment of all the following conditions precedent: A) the Managers shall represent and warrant by notice to the Company that they are holders, directly or indirectly, through any affiliated vehicles, of at least 45 million shares of the Company, computing to such effect the shares directly or indirectly acquired by the Managers upon exercise of the Warrants. If such requirement shall not have been met by the Managers from the Vesting Date until the seventh business day thereafter, the Manager’s Warrants that are not Vested Warrants shall expire, unless the Manager represents and warrants by notice to the Company that it is holder, directly or indirectly through any affiliated vehicles, of at least a number of shares of the Company that represents 9% of 45 million shares of the Company, to which end any shares acquired by the Manager upon exercise of the Warrants shall be computed. For purposes of this definition, affiliated vehicles shall mean those entities in respect of which the Managers directly or indirectly hold at least fifty percent (50%) of the stock capital. B) the Company’s Audit Committee shall have verified the absence of any material default of the Manager’s obligations under the Opportunities Assignment Agreement, to which effect the Managers shall abstain from taking part in the debate. If a material default of the Manager’s obligations were proved to exist, the Manager’s Warrants that are not Vested Warrants shall expire; unless such default is cured in accordance with the provisions of the Opportunities Assignment Agreement, and such expiration shall be immediately notified to the Registrar.

Conditions Precedent to the Vesting of the Warrants. The Manager’s Warrants under each Series shall vest vest, on the respective Vesting Date or before such date upon the occurrence of one or more Acceleration Events, subject to the provisions of Section 6.3, upon the fulfillment of all the following conditions precedent: A) the Managers shall represent and warrant by notice to the Company that they are holders, directly or indirectly, through any affiliated vehicles, of at least 45 million shares of the Company, computing to such effect the shares directly or indirectly acquired by the Managers upon exercise of the Warrants. If such requirement shall not have been met by the Managers from the Vesting Date until the seventh business day thereafter, the Manager’s Warrants that are not Vested Warrants shall expire, unless the Manager represents and warrants by notice to the Company that it is holder, directly or indirectly through any affiliated vehicles, of at least a number of shares of the Company that represents 9% of 45 million shares of the Company, to which end any shares acquired by the Manager upon exercise of the Warrants shall be computed. For purposes of this definition, affiliated vehicles shall mean those entities in respect of which the Managers directly or indirectly hold at least fifty percent (50%) of the stock capital. B) the Company’s Audit Committee shall have verified the absence of any material default of the Manager’s obligations under the Opportunities Assignment Agreement, to which effect the Managers shall abstain from taking part in the debate. If a material default of the Manager’s obligations were proved to exist, the Manager’s Warrants that are not Vested Warrants shall expire; unless such default is cured in accordance with the provisions of the Opportunities Assignment Agreement, and such expiration shall be immediately notified to the Registrar.