Common use of Exercise of Over-Subscription Option Clause in Contracts

Exercise of Over-Subscription Option. In the event that the Maximum Amount is sold by the Termination Date and the Underwriter exercises the Over-Subscription Option by such date, the Underwriter may extend the Offering for an additional 45 days past the date of exercise of the Over-Subscription Option (the “Over-Subscription Termination Date”). The purchase price to be paid per Over-Subscription Share shall be equal to the Purchase Price per Placement Share. The Over-Subscription Option granted hereby may be exercised by the giving of oral notice to the Company from the Underwriter, which shall be confirmed in writing via overnight mail or facsimile or email or other electronic transmission. The closing date for the Over-Subscription Shares is referred to as “Option Closing Date.”

Exercise of Over-Subscription Option. In the event that the Maximum Amount is sold by the Termination Date and the Underwriter exercises the Over-Subscription Option by such date, the Underwriter may extend the Offering for up to an additional 45 days past from the date of exercise of the Over-Subscription Option (the “Over-Subscription Termination Date”). The purchase price to be paid per Over-Subscription Share shall be equal to the Purchase Price per Placement Share. The Over-Subscription Option granted hereby may be exercised by the giving of oral notice to the Company from the Underwriter, which shall be confirmed in writing via overnight mail or facsimile or email or other electronic transmission. The closing date for the Over-Subscription Shares is referred to as the “Option Closing Date.”