Rights Exercise Period; Expiration Time. In connection with the Plan, the Company shall issue to the Eligible Subordinated Claimholders rights to purchase, on a pro rata basis, an aggregate of 8,623,491 Common Shares at a price per share equal to the Common Purchase Price. Each Right will represent a right to purchase one Common Share. The Rights Offering shall be conducted in accordance with the terms of the Rights Offering Procedures, as follows:
Rights Exercise Period; Expiration Time. In connection with the Amended Plan, the Company shall issue Rights to purchase up to 15,936,703 Shares in the aggregate, subject to increase by the number of Direct Purchase Shares not purchased by the Investors pursuant to the Direct Purchase Right. The Rights Offering shall be conducted in accordance with the terms of the Rights Offering Procedures. The Rights may be exercised during a period (the “Rights Exercise Period”) commencing on the date that the Rights Exercise Forms (as defined in the Rights Offering Procedures) are mailed to the Eligible Holders and ending on the deadline specified in the Rights Offering Procedures (the “Expiration Time”). In accordance with the Rights Offering Procedures, after the Expiration Time, the Company shall deliver to each Eligible Holder a notice (a “Purchase Notice”) setting forth the number of shares of New Common Stock such Eligible Holder is entitled to purchase, such Holders’ Total Exercise Price (as defined in the Rights Offering Procedures) and instructions for payment of the Total Exercise Price. Eligible Holders who receive the Purchase Notice shall be required to pay their Total Exercise Price on or prior to the deadline for payment set forth in the Purchase Notice (the “Payment Date”), which amount shall be held in escrow by the Company until the Effective Date.
