Common use of Effects of Termination on Shares Clause in Contracts

Effects of Termination on Shares. (a) If, after application and registration of the Firm Capital Increase with the Commercial Register of the Canton of Nidwalden pursuant to Section 3(b) prior to the Closing Date or the relevant Option Closing Date, as the case may be, this Agreement is terminated pursuant to Section 14, or if the delivery of the Firm Shares or Applicable Option Shares to Maxim Group LLC acting on behalf and for the account of the several Underwriters is not completed on the Closing Date or the relevant Option Closing Date, as the case may be (each, an “Event of Non-Completion”), and unless the Company and the Representatives, acting on behalf of the several Underwriters, otherwise agree within ten (10) calendar days after the Event of Non-Completion, then: (i) the Company shall have a call option pursuant to Section 15(b); (ii) if the call option is not exercised, the Representatives acting on behalf of the several Underwriters shall have a put option against the Company pursuant to Section ‎15(c); (iii) if the put option is not possible for legal reasons or insufficient to dispose of the Firm Shares or Applicable Option Shares, as applicable, or if such put option is not exercised within the deadline set forth in Section 15(c) the Company shall effect a capital reduction pursuant to Section 15(d); and (iv) if the capital reduction is not effected in accordance with Section 15(d), the Underwriters may sell the Firm Shares or Applicable Option Shares, as applicable, in the market as provided in Section 15(e).

Effects of Termination on Shares. (a) If, after application and registration of the Firm Capital Increase or any Over-Allotment Capital Increase with the Commercial Register of the Canton of Nidwalden Vaud pursuant to Section 3(b6(d) or Section 7(c), prior to the Closing Date or the relevant Option Additional Closing Date, as the case may be, this Agreement is terminated pursuant to Section 1411, or if the delivery of the Firm Underwritten Shares or Applicable Option Shares to Maxim Group X.X. Xxxxxx Securities LLC acting on behalf and for the account of the several Underwriters is not completed on the Closing Date or the relevant Option Additional Closing Date, as the case may be (each, an “Event of Non-Completion”), and unless the Company and the Representatives, acting on behalf of the several Underwriters, otherwise agree within ten (10) calendar days after the Event of Non-Completion, then: then (i) the Company shall have a call option pursuant to Section 15(b12(b); , (ii) if the call option is not exercised, the Representatives acting on behalf of the several Underwriters shall have a put option against the Company pursuant to Section ‎15(c12(c); , (iii) if the put option is not possible for legal reasons or insufficient to dispose of the Firm Underwritten Shares or Applicable Option Shares, as applicable, or if such put option is not exercised within the deadline set forth in Section 15(c) 12(c), the Company shall effect a capital reduction pursuant to Section 15(d12(d); and and (iv) if the capital reduction is not effected in accordance with Section 15(d12(d), the Underwriters may sell the Firm Underwritten Shares or Applicable Option Shares, as applicable, in the market as provided in Section 15(e12(e).

Effects of Termination on Shares. (a) If, after application and registration of the Firm Capital Increase with the Commercial Register of the Canton of Nidwalden Vaud pursuant to Section 3(b) 5(c), prior to the Closing Date or the relevant Option Closing Date, as the case may be, this Agreement is terminated pursuant to Section 1412, or if the delivery of the Firm Shares or Applicable Option Additional Shares to Maxim Group Xxxxxx Xxxxxxx & Co. LLC acting on behalf and for the account of the several Underwriters is not completed on the Closing Date or the relevant Option Closing Date, as the case may be (each, an “Event of Non-Completion”), and unless the Company and the Representatives, acting on behalf of the several Underwriters, otherwise agree within ten (10) calendar days after the Event of Non-Completion, then: (i) the Company shall have a call option pursuant to Section 15(b13(b); (ii) if the call option is not exercised, the Representatives acting on behalf of the several Underwriters shall have a put option against the Company pursuant to Section ‎15(c13(c); (iii) if the put option is not possible for legal reasons or insufficient to dispose of the Firm Shares or Applicable Option Additional Shares, as applicable, or if such put option is not exercised within the deadline set forth in Section 15(c) 13(c), the Company shall effect a capital reduction pursuant to Section 15(d13(d); and (iv) if the capital reduction is not effected in accordance with Section 15(d13(d), the Underwriters may sell the Firm Shares or Applicable Option Additional Shares, as applicable, in the market as provided in Section 15(e13(e).

Effects of Termination on Shares. (a) If, after application and registration of the Firm Capital Increase with the Commercial Register of the Canton of Nidwalden Vaud pursuant to Section 3(b) ‎5(d), prior to the Closing Date or the relevant Option Closing Date, as the case may be, this Agreement is terminated pursuant to Section 14‎10, or if the delivery of the Firm Shares or Applicable Option Shares to Maxim Group Xxxxxxxxx LLC acting on behalf and for the account of the several Underwriters is not completed on the Closing Date or the relevant Option Closing Date, as the case may be (each, an “Event of Non-Completion”), and unless the Company and the Representatives, acting on behalf of the several Underwriters, otherwise agree within ten (10) calendar days after the Event of Non-Completion, then: (i) the Company shall have a call option pursuant to Section 15(b‎11(b); (ii) if the call option is not exercised, the Representatives acting on behalf of the several Underwriters shall have a put option against the Company pursuant to Section ‎15(c‎11(c); (iii) if the put option is not possible for legal reasons or insufficient to dispose of the Firm Shares or Applicable Option Shares, as applicable, or if such put option is not exercised within the deadline set forth in Section 15(c) ‎11(c), the Company shall effect a capital reduction pursuant to Section 15(d‎11(d); and (iv) if the capital reduction is not effected in accordance with Section 15(d‎11(d), the Underwriters may sell the Firm Shares or Applicable Option Shares, as applicable, in the market as provided in Section 15(e‎11(e).

Effects of Termination on Shares. (a) If, after application and registration of the Firm Capital Increase or any Over-Allotment Capital Increase with the Commercial Register of the Canton of Nidwalden Vaud pursuant to Section 3(b5(c) or Section 6(b), prior to the Closing Date or the relevant Option Closing Date, as the case may be, this Agreement is terminated pursuant to Section 1412, or if the delivery of the Firm Shares or Applicable Option Additional Shares to Maxim Group Xxxxxx Xxxxxxx & Co. LLC acting on behalf and for the account of the several Underwriters is not completed on the Closing Date or the relevant Option Closing Date, as the case may be (each, an “Event of Non-Completion”), and unless the Company and the Representatives, acting on behalf of the several Underwriters, otherwise agree within ten (10) calendar days after the Event of Non-Completion, then: (i) the Company shall have a call option pursuant to Section 15(b13(b); (ii) if the call option is not exercised, the Representatives acting on behalf of the several Underwriters shall have a put option against the Company pursuant to Section ‎15(c13(c); (iii) if the put option is not possible for legal reasons or insufficient to dispose of the Firm Shares or Applicable Option Additional Shares, as applicable, or if such put option is not exercised within the deadline set forth in Section 15(c) 13(c), the Company shall effect a capital reduction pursuant to Section 15(d13(d); and (iv) if the capital reduction is not effected in accordance with Section 15(d13(d), the Underwriters may sell the Firm Shares or Applicable Option Additional Shares, as applicable, in the market as provided in Section 15(e13(e).

Effects of Termination on Shares. (a) If, after application and registration of the Firm Capital Increase with the Commercial Register of the Canton of Nidwalden Vaud pursuant to Section 3(b) 6(c), prior to the Closing Date or the relevant Option Closing Date, as the case may be, this Agreement is terminated pursuant to Section 1413, or if the delivery of the Firm Shares or Applicable Option Additional Shares to Maxim Group Xxxxxx Xxxxxxx & Co. LLC acting on behalf and for the account of the several Underwriters is not completed on the Closing Date or the relevant Option Closing Date, as the case may be (each, an “Event of Non-Completion”), and unless the Company and the Representatives, acting on behalf of the several Underwriters, otherwise agree within ten (10) calendar days after the Event of Non-Completion, then: (i) the Company shall have a call option pursuant to Section 15(b14(b); (ii) if the call option is not exercised, the Representatives acting on behalf of the several Underwriters shall have a put option against the Company pursuant to Section ‎15(c14(c); (iii) if the put option is not possible for legal reasons or insufficient to dispose of the Firm Shares or Applicable Option Shares, as applicable, or if such put option is not exercised within the deadline set forth in Section 15(c) 14(c), the Company shall effect a capital reduction pursuant to Section 15(d14(d); and (iv) if the capital reduction is not effected in accordance with Section 15(d14(d), the Underwriters may sell the Firm Shares or Applicable Option Shares, as applicable, in the market as provided in Section 15(e14(e).