The Party’s Obligations. 2.1. This grant may be used only for the Program's charitable and educational activities. While the County understands that the Program may participate in the public policy process, consistent with its tax-exempt status, the Program may not use any of these grant funds to lobby or otherwise attempt to influence legislation, to influence the outcome of any public election, or to carry on any voter registration drive. This grant must be used for the project identified above, as described in the Program's proposal and related correspondence, and may not be expended for any other purposes without the Department’s prior written approval. The Program accepts responsibility for complying with this agreement's terms and conditions and will exercise full control over the grant and the expenditure of grant funds. The Department may request that the Program return any unexpended grant funds remaining at the end of the project period.
The Party’s Obligations. 3.1. .. The Party will:
The Party’s Obligations. The Company shall, as soon as practicably possible after the occurrence of a Trigger Event (as defined below), notify VCP in writing of such Trigger Event and of its election for a subscription to occur pursuant to the terms of this Agreement. Subject to the terms and conditions of this Agreement and after satisfaction of the conditions precedent set forth in Section 1(a) above (the date of such satisfaction of such conditions precedent, the "Commencement Date"), in the event of a Trigger Event (as defined below) and the notification described in the preceding sentence, VCP shall procure that one or more of the Funds (the "Purchasing Funds") will (in such proportions as VCP will promptly communicate in writing to the Company), subscribe for, and the Company shall have the obligation to issue and sell to the Purchasing Funds, Common Stock if (i) an Event of Default occurs (a "Default Trigger Event"), (ii) Net1 SA fails to pay all outstanding amounts in respect of Facility H on the Maturity Date (a "Facility H Trigger Event"), or (iii) the market capitalization of the Company on the Principal Market (based on the closing price on such exchange) falls and remains below the U.S. dollar equivalent of Two Billion Six Hundred Million South African Rand (ZAR 2,600,000,000) on more than one day (a "Net 1 Market Price Trigger Event", and each of a Net 1 Market Price Trigger Event, a Default Trigger Event and a Facility H Trigger Event, being referred to as a "Trigger Event"). The U.S. dollar equivalent market capitalization shall be calculated and converted into South African Rand in accordance with the following formula:
The Party’s Obligations
