Common use of GFC Clause in Contracts

GFC. (a) confirms, warrants and undertakes that it is acquiring the GFC Shares on its own behalf for investment purposes and not re-sale; (b) confirms, warrants and undertakes that in deciding to apply for the GFC Shares, it has made its own assessment of the risks and opportunities involved and has not relied upon any warranty, representation, or inducement from any person; (c) shall undertake all such acts, things and deeds necessary to effect a conversion, redemption, forfeiture and sale of the GFC Shares in accordance with the Articles and this agreement; (d) irrevocably agrees to the appointment of any officer of the Company to negotiate and agree on its behalf with Her Majesty’s Revenue and Customs the restricted and/or unrestricted market value of the GFC Shares for tax purposes.

GFC. (a) confirms, warrants and undertakes that it is acquiring the GFC Shares on its own behalf for investment purposes and not re-sale;; Table of Contents (b) confirms, warrants and undertakes that in deciding to apply for the GFC Shares, it has made its own assessment of the risks and opportunities involved and has not relied upon any warranty, representation, or inducement from any person; (c) shall undertake all such acts, things and deeds necessary to effect a conversion, redemption, forfeiture and sale of the GFC Shares in accordance with the Articles and this agreement; (d) irrevocably agrees to the appointment of any officer of the Company to negotiate and agree on its behalf with Her Majesty’s Revenue and Customs the restricted and/or unrestricted market value of the GFC Shares for tax purposes.