Common use of Failure of the Offer after the Designated Date Clause in Contracts

Failure of the Offer after the Designated Date. 3.2.2.1 After the funds (including funds received from ASBA Bidders and Anchor Investors) are transferred from the Escrow Accounts and the ASBA Accounts to the Public Offer Account, in the event that the listing of the Equity Shares does not occur in the manner described in the Offer Documents, SEBI ICDR Regulations or any other Applicable Laws, the Managers shall intimate the Public Offer Account Bank, Refund Bank and the Registrar to the Offer in writing to transfer amount from the Public Offer Account to the Refund Account, in the form specified in Schedule XII, hereto (with a copy to the Company and the Selling Shareholders). The Public Offer Account Bank shall, and the Registrar to the Offer shall ensure that the Public Offer Account Bank shall, after a notice to the Managers (with a copy to the Company and the Selling Shareholders), not later than 1 (one) Working Day from the date of receipt of the aforementioned notice from the Managers, transfer the amount held in the Public Offer Account to the Refund Account. Thereafter, the Refund Bank shall on the same Working Day, ensure the refund of amounts held in the Refund Account to the Bidders in accordance with the Applicable Laws (including the March 2021 Circular, the June 2021 Circular, and the April 2022 Circular II, as applicable) and Clause 3.2.4 as per the modes specified in the Red Xxxxxxx Prospectus and the Prospectus. All refunds under this Agreement shall be payable by the Refund Bank and until such refunds are paid as agreed herein, the monies lying in the Refund Account shall be held for the benefit of the Bidders without any right or lien thereon.

Failure of the Offer after the Designated Date. 3.2.2.1 After the funds (including funds received from ASBA Bidders and Anchor Investors) are transferred from the Cash Escrow Accounts and the ASBA Accounts to the Public Offer Account, in the event that the listing of the Equity Shares does not occur in the manner described in the Offer Documents, SEBI ICDR Regulations or any other Applicable Laws, the Managers BRLMs shall intimate the Public Offer Account Bank, Refund Bank and the Registrar to the Offer in writing to transfer amount from the Public Offer Account to the Refund Account, in the form specified in Schedule XIIXIII, hereto (with a copy to the Company and the Selling Shareholders). The Public Offer Account Bank shall, and the Registrar to the Offer shall ensure that the Public Offer Account Bank shall, after a notice to the Managers BRLMs (with a copy to the Company and the Selling Shareholders), not later than 1 (one) Working Day from the date of receipt of the aforementioned notice from the ManagersBRLMs, transfer the amount held in the Public Offer Account to the Refund Account. Thereafter, the Refund Bank shall on the same Working Day, ensure the refund of amounts held in the Refund Account to the Bidders in accordance with the Applicable Laws (including the March 2021 Circular, the June 2021 Circular, and the April 2022 Circular II, as applicable) and Clause 3.2.4 as per the modes specified in the Red Xxxxxxx Prospectus and the Prospectus. All refunds under this Agreement shall be payable by the Refund Bank and until such refunds are paid as agreed herein, the monies lying in the Refund Account shall be held for the benefit of the Bidders Beneficiaries without any right or lien thereon. The Refund Bank shall intimate in writing, along with the updated bank account statement to the BRLMs and the Registrar (with a copy to the Company and the Selling Shareholders) post the completion.

Failure of the Offer after the Designated Date. 3.2.2.1 After the funds (including funds received from ASBA Bidders and Anchor Investors) are transferred from the Escrow Accounts and the ASBA Accounts to the Public Offer Account, in the event that the listing of the Equity Shares does not occur in the manner described in the Offer Documents, SEBI ICDR Regulations or any other Applicable Laws, the Lead Managers shall intimate the Public Offer Account Bank, Refund Bank and the Registrar to the Offer in writing to transfer amount from the Public Offer Account to the Refund Accountrefund account, in the form specified in Schedule XIIXIII, hereto (with a copy to the Company and the Selling Shareholders). On receipt of intimation from the Lead Managers of the failure of the Offer as per Clause 3.2.1.2, the Registrar shall forthwith, but not later than one Working Day, following the reconciliation of accounts with the Escrow Collection Bank or Public Offer Account Bank, as applicable, (which shall be completed within one Working Day after the receipt of intimation of failure of the Offer) provide to Public Offer Account Bank, the Refund Bank, the Sponsor Banks, the SCSBs, with a copy to the Selling Shareholders, the Company and the Lead Managers, a list of Beneficiaries and a list of Bidders (other than Anchor Investors), amounts to be refunded by the Refund Bank to such Beneficiaries (in the form specified in Schedule II, hereto). The Public Offer Account Bank shall, and the Registrar to the Offer shall ensure that the Public Offer Account Bank shall, after a notice to the Lead Managers (with a copy to the Company and the Selling Shareholders), not later than 1 (one) one Working Day from the date of the receipt of the aforementioned notice from list of Beneficiaries and the Managersamounts to be refunded thereto, transfer the amount held in the Public Offer Account to the Refund Account. Thereafter, the Refund Bank shall on the same Working Day, ensure the refund of amounts held in the Refund Account to the Bidders in accordance with the Applicable Laws (including the March 2021 Circular, the June 2021 Circular, and the April 2022 Circular II, as applicable) Law and Clause 3.2.4 as per the modes specified in the Red Xxxxxxx Prospectus and the Prospectus. All refunds under this Agreement shall be payable by the Refund Bank and until such refunds are paid as agreed herein, the monies lying in the Refund Account shall be held for the benefit of the Bidders eligible to receive refunds in the Offer without any right or lien thereon.

Failure of the Offer after the Designated Date. 3.2.2.1 3.2.2.1. After the funds (including funds received from ASBA Bidders and Anchor Investors) are transferred from the Cash Escrow Accounts and the ASBA Accounts to the Public Offer Account, in the event that the listing of the Equity Shares does not occur in the manner described in the Offer Documents, SEBI ICDR Regulations or any other Applicable Laws, the Managers BRLMs shall intimate the Public Offer Account Bank, Refund Bank and the Registrar to the Offer in writing to transfer amount from the Public Offer Account to the Refund Account, in the form specified in Schedule XIIXIII, hereto (with a copy to the Company and the Selling Shareholders). The Public Offer Account Bank shall, and the Registrar to the Offer shall ensure that the Public Offer Account Bank shall, after a notice to the Managers BRLMs (with a copy to the Company and the Selling Shareholders), not later than 1 (one) Working Day from the date of receipt of the aforementioned notice from the ManagersBRLMs, transfer the amount held in the Public Offer Account to the Refund Account. Thereafter, the Refund Bank shall on the same Working Day, ensure the refund of amounts held in the Refund Account to the Bidders in accordance with the Applicable Laws (including the March 2021 Circular, the June 2021 Circular, and the April 2022 Circular II, as applicable) and Clause 3.2.4 as per the modes specified in the Red Xxxxxxx Prospectus and the Prospectus. All refunds under this Agreement shall be payable by the Refund Bank and until such refunds are paid as agreed herein, the monies lying in the Refund Account shall be held for the benefit of the Bidders without any right or lien thereon.

Failure of the Offer after the Designated Date. 3.2.2.1 After the funds (including funds received from ASBA Bidders and Anchor Investors) are transferred from the Cash Escrow Accounts and the ASBA Accounts to the Public Offer Account, in the event that the listing of the Equity Shares does not occur in the manner described in the Offer Documents, SEBI ICDR Regulations or any other Applicable Laws, the Managers shall intimate the Public Offer Account Bank, Refund Bank and the Registrar to the Offer in writing to transfer amount from the Public Offer Account to the Refund Account, in the form specified in Schedule XIIXIII, hereto (with a copy to the Company and the Promoter Selling Shareholders). The Public Offer Account Bank shall, and the Registrar to the Offer shall ensure that the Public Offer Account Bank shall, after a notice to the Managers (with a copy to the Company and the Promoter Selling Shareholders), not later than 1 (one) Working Day from the date of receipt of the aforementioned notice from the Managers, transfer the amount held in the Public Offer Account to the Refund Account. Thereafter, the Refund Bank shall on the same Working Day, ensure the refund of amounts held in the Refund Account to the Bidders in accordance with the Applicable Laws (including the March 2021 Circular, the June 2021 Circular, and the April 2022 Circular II, as applicable) and Clause 3.2.4 as per the modes specified in the Red Xxxxxxx Prospectus and the Prospectus. All refunds under this Agreement shall be payable by the Refund Bank and until such refunds are paid as agreed herein, the monies lying in the Refund Account shall be held for the benefit of the Bidders without any right or lien thereon.

Failure of the Offer after the Designated Date. 3.2.2.1 3.2.3.1 After the funds (including funds received from ASBA Bidders and Anchor Investors) are transferred from the Escrow Accounts and the ASBA Accounts to the Public Offer Account, in the event that the listing of the Equity Shares does not occur in the manner described in the Offer Documents, SEBI ICDR Regulations or any other Applicable Laws, the Lead Managers shall intimate the Public Offer Account Bank, Refund Bank and the Registrar to the Offer in writing to transfer amount from the Public Offer Account to the Refund Accountrefund account, in the form specified in Schedule XII, hereto (with a copy to the Company and the Selling Shareholders). The Public Offer Account Bank shall, and the Registrar to the Offer shall ensure that the Public Offer Account Bank shall, after a notice to the Lead Managers (with a copy to the Company and the Selling Shareholders), forthwith but not later than 1 (one) one Working Day from the date of the receipt of the aforementioned notice from list of Beneficiaries and the Managersamounts to be refunded thereto, transfer the amount held in the Public Offer Account to the Refund Account. Thereafter, the Refund Bank shall on the same Working Day, ensure the refund of amounts held in the Refund Account to the Bidders in accordance with the Applicable Laws (including the March 2021 Circular, the June 2021 Circular, and the April 2022 Circular II, as applicable) Law and Clause 3.2.4 as per the modes specified in the Red Xxxxxxx Prospectus and the Prospectus. All refunds under this Agreement shall be payable by the Refund Bank and until such refunds are paid as agreed herein, the monies lying in the Refund Account shall be held for the benefit of the Bidders eligible to receive refunds in the Offer without any right or lien thereon.

Failure of the Offer after the Designated Date. 3.2.2.1 After the funds (including funds received from ASBA Bidders and Anchor Investors) are transferred from the Escrow Accounts and the ASBA Accounts to the Public Offer Account, in the event that the listing of the Equity Shares does not occur in the manner described in the Offer Documents, SEBI ICDR Regulations or any other Applicable Laws, the Lead Managers shall intimate the Public Offer Account Bank, Refund Bank and the Registrar to the Offer in writing to transfer amount from the Public Offer Account to the Refund Accountrefund account, in the form specified in Schedule XIIXIII, hereto (with a copy to the Company and the Promoter Selling Shareholders). The Public Offer Account Bank shall, and the Registrar to the Offer shall ensure that the Public Offer Account Bank shall, after a notice to the Lead Managers (with a copy to the Company and the Promoter Selling Shareholders), not later than 1 (one) one Working Day from the date of the receipt of the aforementioned notice from list of Beneficiaries and the Managersamounts to be refunded thereto, transfer the amount held in the Public Offer Account to the Refund Account. Thereafter, the Refund Bank shall on the same Working Day, ensure the refund of amounts held in the Refund Account to the Bidders in accordance with the Applicable Laws (including the March 2021 Circular, the June 2021 Circular, and the April 2022 Circular II, as applicable) Law and Clause 3.2.4 as per the modes specified in the Red Xxxxxxx Prospectus and the Prospectus. All refunds under this Agreement shall be payable by the Refund Bank and until such refunds are paid as agreed herein, the monies lying in the Refund Account shall be held for the benefit of the Bidders eligible to receive refunds in the Offer without any right or lien thereon.

Failure of the Offer after the Designated Date. 3.2.2.1 3.2.3.1 After the funds (including funds received from ASBA Bidders and Anchor Investors) are transferred from the Escrow Accounts Account and the ASBA Accounts to the Public Offer Account, in the event that the listing of the Equity Shares does not occur in the manner described in the Offer Documents, SEBI ICDR Regulations or any other Applicable LawsLaw, the Managers shall BRLMs shall, intimate the Public Offer Account Bank, the Refund Bank and the Registrar to the Offer in writing to transfer amount from the Public Offer Account to the Refund Accountwriting, in the form specified in Schedule XIIXIII, hereto (with a copy to the Company and each of the Selling Shareholders). The Public Offer Account Bank shall, and the Registrar to the Offer shall ensure that the Public Offer Account Bank shall, after a notice to the Managers BRLMs (with a copy to the Company and each of the Selling Shareholders), not later than 1 one (one1) Working Day from the date of receipt of the aforementioned notice from the ManagersBRLMs, transfer the amount held in the Public Offer Account to the Refund AccountAccount in accordance with the Applicable Law and the Offer Documents. Thereafter, the Refund Bank shall on the same Working Day, ensure the refund of amounts held in the Refund Account to the Bidders in accordance with the Applicable Laws Law (including the March 2021 Circular, the June 2021 Circular, Circular and the April 2022 Circular II, as applicable) and Clause 3.2.4 3.2.5 as per the modes specified in the Red Xxxxxxx Prospectus and the Prospectus. All refunds under this Agreement shall be payable by the Refund Bank and until such refunds are paid as agreed herein, the monies lying in the Refund Account shall be held for the benefit of the Bidders Beneficiaries eligible to receive refunds in the Offer without any right or lien thereon.