Common use of The Investment Clause in Contracts

The Investment. The Company intends to sell to the Investors, and the Investors intend to purchase from the Company, as an investment in the Company, the securities as described herein. The securities to be purchased at the first closing are 1,885,500 shares of common stock, par value $1.00 per share, of the Company (the “Common Stock” or “Common Shares”). The securities to be purchased at the second closing, subject to adjustment as of the date of the second closing in accordance with the terms hereof, are 22,458 shares of Mandatorily Convertible Cumulative Non-Voting Perpetual Preferred Stock, Series B, par value $1.00 per share, of the Company, having the terms set forth on Exhibit A (the “Series B Preferred Stock” or “Series B Preferred Shares”).

The Investment. The Company intends to sell to the InvestorsInvestor, and the Investors intend Investor intends to purchase from the Company, as an investment in the Company, the securities as described herein. The securities to be purchased at the first closing are 1,885,500 1,812,500 shares of common stock, par value $1.00 per share, of the Company (the “"Common Stock” " or “"Common Shares”"). The securities to be purchased at the second closing, subject to adjustment as of the date of the second closing in accordance with the terms hereof, are 22,458 42,626 shares of Mandatorily Convertible Cumulative Non-Voting Perpetual Preferred Stock, Series B, par value $1.00 per share, of the Company, having the terms set forth on Exhibit A (the “"Series B Preferred Stock” " or “"Series B Preferred Shares”").

The Investment. The Company intends to sell to the Investors, and the Investors severally intend to purchase from the Company, as an investment in the Company, the securities as described herein. The securities to be purchased at the first closing are 1,885,500 720,500 shares of common stock, par value $1.00 per share, of the Company (the “"Common Stock” " or “"Common Shares”"). The securities to be purchased at the second closing, subject to adjustment as of the date of the second closing in accordance with the terms hereof, are 22,458 16,942 shares of Mandatorily Convertible Cumulative Non-Voting Perpetual Preferred Stock, Series B, par value $1.00 per share, of the Company, having the terms set forth on Exhibit A (the “"Series B Preferred Stock” " or “"Series B Preferred Shares”").