Common use of Future Shares Clause in Contracts

Future Shares. Pursuant to what is stated in Section Three. One. above but subject to the terms and conditions of the Shareholders’ Agreement and the provisions set forth in the other terms and conditions hereof, each Pledgor hereby agrees to maintain the pledge at all times and/or pledge 100% of the shares owned by it in the Company which, jointly with the Pledged Shares owned by the other Pledgor represent at least 16.42% therein or a lower amount indicated in Section Three. Two (d) of the Shareholders’ Agreement, which shall always be first lien pledges, except when the new shares to be pledged and subject to the prohibition to encumber and sell as already agreed upon, have already been subject to a senior lien pledge in favor of Itaú BBA, Nassau Branch or any other company which is a person related to the Pledgee, in which case the pledge on the Future Shares shall be a junior pledge compared to the pledge levied in favor of Itaú BBA, Nassau Branch, or of the person related to the Pledgee. In compliance with the foregoing and in order to fulfill the obligation set forth herein, but subject to the terms and conditions of the Shareholders’ Agreement and to the provisions set forth in the other terms and conditions hereof, each Pledgor hereby agrees to extend the pledge on Shares owned by it and the prohibitions and restrictions hereunder granted to any other cash shares of the Company or securities granting future rights on the shares in the Company to be acquired in the future for any purpose. To such effects, each Pledgor shall successively execute a new public deed of pledge and prohibitions under the terms set forth herein for each Future Share on “as acquired basis”, not later than 30 calendar days from the date of registration of the shares in its own name in the Register Book of Shareholders of the Company, and shall also perform all those acts and enter into all those agreements whether by public or private instrument, intended to identify the Future Shares owned by it pledged hereunder on a when-issued basis. Each Pledgor may also regularly give written notice to Pledgee of the acquisition of any Future Share in the Company not encumbered by the pledge on shares already granted, not later than 30 calendar days from the registration date of the shares in the Register Book of Shareholders of the Company. Nine.Two.-

Future Shares. Pursuant to what is stated in Section Three. One. Xxxxx.Xxx above but subject to the terms and conditions of the Shareholders’ Agreement and the provisions set forth in the other terms and conditions hereof, each Pledgor hereby agrees to maintain the pledge at all times and/or pledge 100% any number of the shares owned by it /at present or in the future/ in the Company which, jointly with the Pledged Shares owned by the other Pledgor represent representing at least 16.42% therein or a lower amount indicated in Section Three. Three Two (d) of the Shareholders’ Agreement, which shall always be first lien pledges, except when the new shares to be pledged and subject to the prohibition to encumber and sell as it has been already agreed upon, have already been subject to a senior first lien pledge in favor of Itaú BBA, Nassau Branch or any other company which is a person related to the Pledgee, in which case the pledge on the Future Shares shall be a junior pledge compared to the pledge levied in favor of Itaú BBA, Nassau Branch, or of the person related to the Pledgee. In compliance with the foregoing and in order to fulfill the obligation set forth herein, but subject to the terms and conditions of the Shareholders’ Agreement and to the provisions set forth in the other terms and conditions hereof, each Pledgor hereby agrees to extend the pledge on Shares owned by it and the prohibitions and restrictions hereunder granted to any other cash shares of the Company or securities granting future rights on the shares in the Company to be acquired in the future for any purpose. To such effects, each Pledgor shall successively execute a new public deed of pledge and prohibitions under the terms set forth herein for each Future Share on “as acquired basis”, not later than 30 calendar days from the date of registration of the shares in its own name in the Register Book of Shareholders Shareholders’ Registry of the Company, and shall also perform all those acts and enter into all those agreements whether by public or private instrument, intended to identify the Future Shares owned by it pledged hereunder on a when-issued basis. Each Pledgor may also regularly give written notice to Pledgee of the acquisition of any Future Share in the Company not encumbered by the pledge on shares already granted, granted not later than 30 calendar days from the registration date of the shares in the Shareholders’ Register Book of Shareholders of the Company. Nine.Two.-

Future Shares. Pursuant to what is stated in Section Three. One. above but subject Subject to the terms and conditions of the Shareholders’ Agreement and the provisions set forth in the other terms and conditions hereof, each Pledgor hereby agrees to maintain the pledge at all times and/or pledge 100% any number of the shares owned by it /at present or in the future/ in the Company which, jointly with the Pledged Shares owned by the other Pledgor represent representing at least 16.42% therein or a lower amount indicated in Section Three. .Two (d) of the Shareholders’ Agreement, which shall always be first lien pledges, except when the new shares to be pledged and subject to the prohibition to encumber and sell as already agreed upon, have already been subject to a senior lien pledge in favor of Itaú BBA, Nassau Branch or any other company which is a person related to the Pledgee, in which case the pledge on the Future Shares shall be a junior pledge compared to the pledge levied in favor of Itaú BBA, Nassau Branch, or of the person related to the Pledgeepledge. In compliance with the foregoing and in order to fulfill the obligation set forth herein, but subject to the terms and conditions of the Shareholders’ Agreement and to the provisions set forth in the other terms and conditions hereof, each Pledgor hereby agrees to extend constitute a commercial pledge and a prohibition to encumber and sell / under the pledge same terms and conditions established herein / on Shares owned by it and the prohibitions and restrictions hereunder granted to any other cash shares of in the Company or securities granting future rights on the shares in the Company Company, to be acquired in the future for any purpose. purpose whatsoever /the “Future Shares”/. To such effects, each Pledgor shall successively execute a new public deed of pledge and prohibitions under the terms set forth herein for each Future Share that may be acquired, and on “as acquired basis”, not later than 30 calendar days from the date of registration of the shares in its own name in the Register Book of Shareholders of the Company, and shall also perform all those acts and enter into all those agreements whether by public or private instrument, intended to identify the Future Shares owned by it pledged hereunder on a when-issued basis. Each Company.- Pledgor may also regularly give written notice to Pledgee of the acquisition of any Future Share in the Company not encumbered by the pledge on shares already granted, granted not later than 30 calendar days from the registration date of the shares in the Register Book of Shareholders of the Company. Nine.Two.-

Future Shares. Pursuant to what is stated in Section Three. One. Xxxxx.Xxx above but subject to the terms and conditions of the Shareholders’ Agreement and the provisions set forth in the other terms and conditions hereof, each Pledgor hereby agrees to maintain the pledge at all times and/or pledge 100% any number of the shares owned by it /at present or in the future/ in the Company which, jointly with the Pledged Shares owned by the other Pledgor represent representing at least 16.42% therein or a lower amount indicated in Section Three. Three Two (d) of the Shareholders’ Agreement, which shall always be first lien pledges, except when the new shares to be pledged and subject to the prohibition to encumber and sell as it has been already agreed upon, have already been subject to a senior first lien pledge in favor of Itaú BBA, Nassau Branch or any other company which is a person related to the Pledgee, in which case the pledge on the Future Shares shall be a junior pledge compared to the pledge levied in favor of Itaú BBA, Nassau Branch, or of the person related to the Pledgee. In compliance with the foregoing and in order to fulfill the obligation set forth herein, but subject to the terms and conditions of the Shareholders’ Agreement and to the provisions set forth in the other terms and conditions hereof, each Pledgor hereby agrees to extend the pledge on Shares owned by it and the prohibitions and restrictions hereunder granted to any other cash shares of the Company or securities granting future rights on the shares in the Company to be acquired in the future for any purpose. To such effects, each Pledgor shall successively execute a new public deed of pledge and prohibitions under the terms set forth herein for each Future Share on “as acquired basis”, not later than 30 calendar days from the date of registration of the shares in its own name in the Register Book of Shareholders Shareholders’ Registry of the Company, and shall also perform all those acts and enter into all those agreements whether by public or private instrument, intended to identify the Future Shares owned by it pledged hereunder on a when-issued basis. Each Pledgor may also regularly give written notice to Pledgee of the acquisition of any Future Share in the Company not encumbered by the pledge on shares already granted, not later than 30 calendar days from the registration date of the shares in the Register Book of Shareholders of the Company. Nine.Two.-