Common use of Sale of Firm Shares or Applicable Optional Shares Clause in Contracts

Sale of Firm Shares or Applicable Optional Shares. In addition, if an Event of Non-Completion occurs and, (i) the Company fails to acquire or cause a third party to acquire the Firm Shares or Applicable Optional Shares, as applicable, in accordance with Section 15(b) within ten calendar days after the Event of Non-Completion; and (ii) in the event and to the extent the Put Option is not possible for legal reasons or insufficient to dispose of the Firm Shares or Applicable Optional Shares, as applicable, including due to insufficient freely disposable reserves, or if the Put Option is not exercised within the deadline set forth in Section 15(c); and (iii) the Capital Reduction has not been resolved by the shareholders' meeting of the Company within sixty days after the Event of Non-Completion, the Representative is entitled to sell any or all Firm Shares or Applicable Optional Shares on terms which the Representative deems fit under the circumstances. The difference between the proceeds of such sale and the nominal amount of such Firm Shares or Applicable Optional Shares, as applicable, sold, less the costs and expenses pursuant to Section 15(f) reasonably incurred by the Representative in connection with the sale, if any, shall be transferred to the Company.

Sale of Firm Shares or Applicable Optional Shares. In addition, if an Event of Non-Completion occurs and, (i) the Company fails to acquire or cause a third party to acquire the Firm Shares or Applicable Optional Shares, as applicable, in accordance with Section 15(b) within ten calendar days after the Event of Non-Completion; and (ii) in the event and to the extent the Put Option is not possible for legal reasons or insufficient to dispose of the Firm Shares or Applicable Optional Shares, as applicable, including due to insufficient freely disposable reserves, or if the Put Option is not exercised within the deadline set forth in Section 15(c); and (iii) the Capital Reduction has not been resolved by the shareholders' ’ meeting of the Company within sixty days after the Event of Non-Completion, the Representative is Representatives, acting on behalf of the several Underwriters, are entitled to sell any or all Firm Shares or Applicable Optional Shares on terms which the Representative deems Representatives deem fit under the circumstances. The difference between the proceeds of such sale and the nominal amount of such Firm Shares or Applicable Optional Shares, as applicable, sold, less the costs and expenses pursuant to Section 15(f) reasonably incurred by the Representative Representatives in connection with the sale, if any, shall be transferred to the Company.

Sale of Firm Shares or Applicable Optional Shares. In addition, if an Event of Non-Completion occurs and, (i) the Company fails to acquire or cause a third party to acquire the Firm Shares or Applicable Optional Shares, as applicable, in accordance with Section 15(b) within ten calendar days after the Event of Non-Completion; and (ii) in the event and to the extent the Put Option is not possible for legal reasons or insufficient to dispose of the Firm Shares or Applicable Optional Shares, as applicable, including due to insufficient freely disposable reserves, or if the Put Option is not exercised within the deadline set forth in Section 15(c); and (iii) the Capital Reduction has not been resolved by the shareholders' ’ meeting of the Company within sixty days after the Event of Non-Completion, the Representative is Representative, acting on behalf of the several Underwriters, are entitled to sell any or all Firm Shares or Applicable Optional Shares on terms which the Representative deems deem fit under the circumstances. The difference between the proceeds of such sale and the nominal amount of such Firm Shares or Applicable Optional Shares, as applicable, sold, less the costs and expenses pursuant to Section 15(f) reasonably incurred by the Representative in connection with the sale, if any, shall be transferred to the Company.