Common use of Purchase During Exercise Period Clause in Contracts

Purchase During Exercise Period. Subject to the terms and conditions set forth in this Agreement, the Holder shall be entitled, at any time during the Exercise Period, to purchase (such right, the “Purchase Option”) from the Founder, at an aggregate price of US$1 (the “Exercise Price”), a number of fully paid Ordinary Shares, par value US$0.001 per share, of the Company (the “Ordinary Shares”) held by the Founder equal to the “Adjustment Number” (as defined below). Subject to the terms and conditions set forth in this Agreement, the Adjustment Number shall be the number of Ordinary Shares such that, if transferred to the Holder, would result in the Holder’s Percentage Interest as of the publication of 2010 Fiscal Year Revenue having a 2% increment. Promptly upon completion of the purchase and sale of Ordinary Shares pursuant to the Purchase Option, if at such time the Holder holds any Series A Preferred Shares of the Company (the “Series A Preferred Shares”), the parties hereto shall cause the re-designation of such Ordinary Shares acquired by the Holder into the number of Series A Preferred Shares then convertible into such Ordinary Shares.

Appears in 2 contracts

Samples: Option Agreement No. 2 (Nobao Renewable Energy Holdings LTD), Option Agreement No. 2 (Nobao Renewable Energy Holdings LTD)

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Purchase During Exercise Period. Subject to the terms and conditions set forth in this Agreement, the Holder shall be entitled, at any time during the Exercise Period, to purchase (such right, the “Purchase Option”) from the FounderInvestor, at an aggregate price of US$1 per share (the “Exercise Price”), a number of fully paid Ordinary Shares, par value US$0.001 per share, of the Company (the “Ordinary Shares”) held by the Founder Investor equal to the “Adjustment Number” (as defined below). Subject to the terms and conditions set forth in this Agreement, the Adjustment Number shall be the number of Ordinary Shares such thatequal to the result of (i) 20,000,000 multiplied by the Percentage Interest, if transferred to subtracted by (ii) 14,593,520. If at the time of the exercise of the Purchase Option by the Holder, would result in the Holder’s Percentage Interest as of the publication of 2010 Fiscal Year Revenue having a 2% increment. Promptly upon completion of the purchase and sale of Ordinary Shares pursuant to the Purchase Option, if at such time the Holder Investor holds any Series A Preferred Shares of the Company (the “Series A Preferred Shares”), the parties hereto shall cause the re-designation of such Ordinary Shares acquired by the Holder into the number of Series A Preferred Shares held by the Investor be converted into Ordinary Shares at then convertible into applicable conversion ratio between Series A Preferred Shares and Ordinary Shares as to be sufficient for such Ordinary Sharesexercise.

Appears in 2 contracts

Samples: Option Agreement No. 3 (Nobao Renewable Energy Holdings LTD), Option Agreement No. 3 (Nobao Renewable Energy Holdings LTD)

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Purchase During Exercise Period. Subject to the terms and conditions set forth in this Agreement, the Holder shall be entitled, at any time during the Exercise Period, to purchase (such right, the “Purchase Option”) from the Founder, at an aggregate price of US$1 (the “Exercise Price”), a number of fully paid Ordinary Shares, par value US$0.001 per share, of the Company (the “Ordinary Shares”) held by the Founder equal to the “Adjustment Number” (as defined below). Subject to the terms and conditions set forth in this Agreement, the Adjustment Number shall be the number of Ordinary Shares such that, if transferred equal to the Holderresult of (i) 20,000,000 multiplied by the Percentage Interest, would result in the Holder’s Percentage Interest as of the publication of 2010 Fiscal Year Revenue having a 2% incrementsubtracted by (ii) 4,906,480. Promptly upon completion of the purchase and sale of Ordinary Shares pursuant to the Purchase Option, if at such time the Holder holds any Series A Preferred Shares of the Company (the “Series A Preferred Shares”), the parties hereto shall cause the re-designation of such Ordinary Shares acquired by the Holder into the number of Series A Preferred Shares then convertible into such Ordinary Shares.

Appears in 2 contracts

Samples: Option Agreement No. 1 (Nobao Renewable Energy Holdings LTD), Option Agreement No. 1 (Nobao Renewable Energy Holdings LTD)

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