ANNUITY OPTIONS The following Annuity Options are available under this Contract. Additional options may become available in the future:
Adjustments in Warrant Price Whenever the number of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted, as provided in subsection 4.1.1 or Section 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such adjustment by a fraction (x) the numerator of which shall be the number of shares of Common Stock purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of shares of Common Stock so purchasable immediately thereafter.
Supplementary Terms Other Contributions
Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise In addition to any other rights available to the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions of Section 2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Xxxxxx’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.
Compensation for Buy-In on Failure to Timely Deliver Warrant ADSs Upon Exercise In addition to any other rights available to the Holder, if the Company fails to cause the Depositary to deliver to the Holder the Warrant ADSs in accordance with the provisions of Section 2(d)(i) above pursuant to an exercise on or before the Warrant ADS Delivery Date, and if after such date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, ADSs to deliver in satisfaction of a sale by the Holder of the Warrant ADSs which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any) for the ADSs so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant ADSs that the Company was required to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant and equivalent number of Warrant ADSs for which such exercise was not honored (in which case such exercise shall be deemed rescinded) or deliver to the Holder the number of ADSs that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases ADSs having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of ADSs with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Xxxxxx’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver ADSs upon exercise of the Warrant as required pursuant to the terms hereof.
Certificate of Adjusted Exercise Price or Number of Shares Whenever an adjustment is made as provided in Sections 11 and 13 hereof, the Company shall promptly (a) prepare a certificate setting forth such adjustment and a brief statement of the facts accounting for such adjustment, (b) file with the Rights Agent and with each transfer agent for the Preferred Shares a copy of such certificate and (c) mail a brief summary thereof to each holder of a Rights Certificate in accordance with Section 26 hereof. Notwithstanding the foregoing sentence, the failure of the Company to make such certification or give such notice shall not affect the validity of such adjustment or the force or effect of the requirement for such adjustment. The Rights Agent shall be fully protected in relying on any such certificate and on any adjustment contained therein and shall not be deemed to have knowledge of such adjustment unless and until it shall have received such certificate.
Certification of Adjusted Exercise Price or Number of Shares of Common Stock Whenever the Exercise Price or the number of shares of Common Stock issuable upon the exercise of each Warrant is adjusted as provided in Section 11 or 13, the Company shall (a) promptly prepare a certificate setting forth the Exercise Price of each Warrant as so adjusted, and a brief statement of the facts accounting for such adjustment, (b) promptly file with the Warrant Agent and with each transfer agent for the Common Stock a copy of such certificate and (c) instruct the Warrant Agent to send a brief summary thereof to each Holder of a Warrant Certificate.
SUPPLEMENTARY PREAMBLES For preambles see "Specifications of materials and methods to be used - PW 371" 1 Panes not exceeding 0,1 m2 m2 3 SMD2 Bill No. 11 GLAZING Item No Quantity Rate Amount SECTION 3 BILL NO. 12 PAINTWORK SUPPLEMENTARY PREAMBLES For preambles see "Specifications of materials and methods to be used - PW 371" ON FIBRE-CEMENT Prepare and brush to remove all loose contaminations, apply one coat primer and two coats PVA emulsion paint: 1 On fascias and barge boards m2 7 ON WOOD Undercoat and minimum 2 coat gloss enamel: 2 On doors (Internal) m2 7 3 On doors (External) m2 7 ON METAL Undercoat and minimum 2 coat gloss enamel: 4 On door frames m2 1 5 On gates (Measured over the full flat area of both sides) m2 8 6 On gutters and down pipes m 10 Spot prining defects in prime surface with zinc chromate primer and apply one universal undercoat and two coats EPWP, golden brown gloss enamel paint on steel: 7 On windows with burglar bars m2 3 Carried Forward to Summary of Section No. 3 Section No. 3 SMD2 Bill No. 12 PAINTWORK BVI CONSULTING ENGINEERS R SECTION SUMMARY - SMD2 1 EARTHWORKS 60 2 CONCRETE,FORMWORK AND REINFORCEMENT 62 3 MASONRY 65 4 WATERPROOFING 66 5 ROOF COVERINGS 68 6 CARPENTRY AND JOINERY 70 7 IRONMONGERY 72 8 METALWORK 73 9 PLASTERING 74 10 PLUMBING AND DRAINAGE 77 12 PAINTWORK 79 Carried to Final Summary Section No. 3 SMD2 BVI CONSULTING ENGINEERS Amount R No SECTION 4 BILL NO.1 EARTHWORKS (PROVISIONAL) SUPPLEMENTARY PREAMBLES For preambles see "Specifications of materials and methods to be used - PW 371" SITE CLEARANCE 1 Digging up and removing rubbish, debris, vegetation, xxxxxx, shrubs,xxxx and trees not exceeding 200mm girth, etc. m2 103 2 Stripping average 100mm thick layer of top soil and stockpiling on site m2 103 EXCAVATION,FILLING, ETC Excavation in earth not exceeding 2m deep: 3 Trenches m3 24 4 Pit m3 42 5 For aprons thickenning m3 5 Extra over trench and hole excavations in earth for excavation: 6 Soft rock m3 71 7 Hard rock m3 71 Extra over all excavations for carting away: 8 Surplus material from excavations and/or stock piles on site to a dumping site to be alocated by the Contractor m3 53 Carried Forward Section No. 4 MD6 Xxxx Xx. 1 EARTHWORKS BVI CONSULTING ENGINEERS R 9 Sides of trench and hole excavation not exceeding 1,5m deep. m2 112 10 Keeping excavations free of water other than subterranean water Item Earth filling obtained from the excavations and/or prescribed stock piles on site compacted to 93% ModAASHTO density: 11 Under floors, steps, pavings, etc. m3 12 12 Backfilling to trenches, holes, etc. m3 13 13 Compaction of ground surface under floors etc including scarifying for a depth of 150mm, breaking down oversize material, adding suitable material where necessary and compacting to 93% Mod AASHTO density m2 39 14 Compaction of ground surface to pits etc including scarifying for a depth of 150mm, breaking down oversize material, adding suitable material where necessary and compacting to 93% Mod AASHTO density m2 33 15 Compaction of ground surface to aprons etc including scarifying for a depth of 150mm, breaking down oversize material, adding suitable material where necessary and compacting to 93% Mod AASHTO density m2 54 16 Modified AASHTO Density tests No 5 Section No. 4 MD6 Bill No. 1 EARTHWORKS 17 Under floors etc including forming and poisoning shallow furrows against foundation walls etc, filling in furrows and ramming. m2 39 18 To bottom of concrate aprons m2 54 19 To bottoms and sides of trenches, etc. m2 92 MD6 Bill No. 1 EARTHWORKS
Notice of Exercise; Payment (a) To the extent then exercisable, the Option may be exercised in whole or in part by written notice to the Company stating the number of Option Shares for which the Option is being exercised and the intended manner of payment. The date of such notice shall be the exercise date. Payment equal to the aggregate Option Price of the Option Shares being purchased pursuant to an exercise of the Option must be tendered in full with the notice of exercise to the Company in one or a combination of the following methods as specified by the Optionee in the notice of exercise: (i) cash in the form of currency or check or by wire transfer as directed by the Company, (ii) solely following an IPO in Shares otherwise being traded on an established securities market, through the surrender to the Company of Shares owned by the Optionee for at least six months as valued at their Fair Market Value on the date of exercise, (iii) through net exercise, using Shares to be acquired upon exercise of the Option, such Shares being valued at their Fair Market Value (which for such purpose shall have the meaning set forth in the Stockholders Agreement) on the date of exercise, or (iv) through such other form of consideration as is deemed acceptable by the Board.
(b) As soon as practicable upon the Company’s receipt of the Optionee’s notice of exercise and payment, the Company shall direct the due issuance of the Option Shares so purchased.
(c) As a further condition precedent to the exercise of this Option in whole or in part, the Optionee shall comply with all regulations and the requirements of any regulatory authority having control of, or supervision over, the issuance of the shares of common stock and in connection therewith shall execute any documents which the Board shall in its sole discretion deem necessary or advisable.
Method of Exercise Payment Issuance of New Warrant;
