IIF PREFERENCE SHARES Clause Samples

IIF PREFERENCE SHARES. 8.1 The Parties agree and confirm that on and from the date of Completion, in the event any payment is due and payable to India Infrastructure Fund (“IIF”) in accordance with the terms of the Investment Agreement (including, without limitation, any dividends, interests, premiums or any other payments) and the Company is unable to make such payment for any reason whatsoever, then, the Investor shall, at least three (3) Business Days prior to the date on which the payment is required to be made to IIF, invest amounts in the Company in such manner (other than through Equity Shares) , as may be required to ensure that the Company is able to make such payments (including paying any dividends, premiums or redemption amounts) in relation to the preference shares held by IIF in accordance with the Investment Agreement. 8.2 Any issuance of convertible securities by the Company to the Investor pursuant to Clause 8.1 shall be subject to the following: 8.2.1 If such preferences shares are convertible into Equity Shares, then such conversion right shall not be exercisable prior to March 31, 2021; and 8.2.2 Any conditions relating to payment of dividend or redemption amounts or any other financial terms shall be no less favourable to the Company than those applicable to the IIF Preference Shares terms. 8.3 On and from the date of Completion: 8.3.1 ATC shall be deemed to be a party to the Investment Agreement; 8.3.2 The Investment Agreement shall be deemed to have automatically terminated as against TTSL and QTIPL, except to the extent of the rights, remedies and liabilities already accrued to or against them; 8.3.3 The term ‘Promoter Group’ under the Investment Agreement shall be deemed to refer to ATC and not TTSL and QTIPL;