Common use of Upon receipt of the Share Escrow Clause in Contracts

Upon receipt of the Share Escrow. Failure Notice or the Promoter Selling Shareholders’ Share Escrow Failure Notice indicating that the Event of Failure has occurred, prior to the Transfer of the Sold Shares to the demat accounts of the Allottees in terms of Clause 5.2 hereof: (i) the Share Escrow Agent shall not Transfer any Offered Shares to any Allottee or any Person other than the respective Promoter Selling Shareholder, and (ii) the Share Escrow Agent shall credit such number of the Offered Shares as were deposited by each Promoter Selling Shareholder (such credit shall be in the same proportion as the Offered Shares originally credited to the Escrow Demat Account by such Promoter Selling Shareholder) standing to the credit of the Escrow Demat Account to the respective Promoter Selling Shareholder Demat Accounts within one (1) Working Day of receipt by the Share Escrow Agent of the Share Escrow Failure Notice pursuant to Clause 5.3 of this Agreement, provided however that, in case of any application money lying in the Escrow Demat Account (in terms of the Cash Escrow and Sponsor Bank Agreement) or in case Bid Amounts have been transferred to the Public Offer Account, the Share Escrow Agent shall debit the Escrow Demat Account and credit back the respective Offered Shares to the respective Promoter Selling Shareholder’s Demat Accounts with the Sold Shares simultaneously upon receiving intimation of refund of such moneys by the Company subject to Applicable Laws and procedures, along with the bank statements showing no balance in the Escrow Account and Public Offer Account.

Upon receipt of the Share Escrow. Failure Notice or the Promoter Selling Shareholders’ Share Escrow Failure Notice Notice, as the case may be, indicating that the Event of Failure has occurred, prior to the Transfer of the Sold Offered Shares to the demat accounts of the Allottees in terms of Clause 5.2 hereof: (i) the Share Escrow Agent shall not Transfer any Offered Shares to any Allottee or any Person other than the respective Promoter Selling Shareholder, and (ii) the Share Escrow Agent shall credit such number of the Offered Shares as were deposited by each Promoter Selling Shareholder (such credit shall be in the same proportion as the Offered Shares originally credited to the Escrow Demat Account by such Promoter Selling Shareholder) standing to the credit of the Escrow Demat Account to the respective Promoter Selling Shareholder Demat Accounts within one (1) Working Day of receipt by the Share Escrow Agent of the Share Escrow Failure Notice pursuant to Clause 5.3 of this Agreement, provided however that, in case of any application money lying in the Escrow Demat Account cash escrow accounts (in terms of the Cash Escrow and Sponsor Bank Agreement) or in case Bid Amounts have been transferred to the Public Offer Account, the Share Escrow Agent shall debit the Escrow Demat Account and credit back the respective Offered Shares to the respective Promoter Selling Shareholder’s Demat Accounts with the Sold Offered Shares simultaneously upon receiving intimation of refund of such moneys by the Company subject to Applicable Laws and procedures, along with the bank statements showing no balance in the Escrow Account and Public Offer Account subject to Applicable Law. Notwithstanding anything to the contrary that may be contained in this Agreement, upon receipt of the Share Escrow Failure Notice, the Share Escrow Agent shall transfer a portion of the Promoter Offered Shares, being, 511,938 Equity Shares which are pledged in favour of IIFL Finance Limited, to the escrow account of IIFL Finance Limited, from which such Promoter Offered Shares have been credited to the Escrow Demat Account.

Upon receipt of the Share Escrow. Failure Notice or the Promoter Selling Shareholders’ Share Escrow Failure Notice Notice, as the case may be, indicating that the Event of Failure has occurred, prior to the Transfer of the Sold Offered Shares to the demat accounts of the Allottees in terms of Clause 5.2 hereof: (i) the Share Escrow Agent shall not Transfer any Offered Shares to any Allottee or any Person other than the respective Promoter Selling Shareholder, and (ii) the Share Escrow Agent shall credit such number of the Offered Shares as were deposited by each Promoter Selling Shareholder (such credit shall be in the same proportion as the Offered Shares originally credited to the Escrow Demat Account by such Promoter Selling Shareholder) standing to the credit of the Escrow Demat Account to the respective Promoter Selling Shareholder Demat Accounts within one (1) Working Day of receipt by the Share Escrow Agent of the Share Escrow Failure Notice pursuant to Clause 5.3 of this Agreement, provided however that, in case of any application money lying in the Escrow Demat Account cash escrow accounts (in terms of the Cash Escrow and Sponsor Bank Agreement) or in case Bid Amounts have been transferred to the Public Offer Account, the Share Escrow Agent shall debit the Escrow Demat Account and credit back the respective Offered Shares to the respective Promoter Selling Shareholder’s Demat Accounts with the Sold Offered Shares simultaneously upon receiving intimation of refund of such moneys by the Company subject to Applicable Laws and procedures, along with the bank statements showing no balance in the Escrow Account and Public Offer AccountAccount subject to Applicable Law.

Upon receipt of the Share Escrow. Failure Notice or the Promoter Selling Shareholders’ Share Escrow Failure Notice Notice, as the case may be, indicating that the Event of Failure has occurred, prior to the Transfer of the Sold Offered Shares to the demat accounts of the Allottees in terms of Clause 5.2 hereof: (i) the Share Escrow Agent shall not Transfer any Offered Shares to any Allottee or any Person other than the respective Promoter Selling Shareholder, and (ii) the Share Escrow Agent shall credit such number of the Offered Shares as were deposited by each Promoter Selling Shareholder (such credit shall be in the same proportion as the Offered Shares originally credited to the Escrow Demat Account by such Promoter Selling Shareholder) standing to the credit of the Escrow Demat Account to the respective Promoter Selling Shareholder Demat Accounts within one (1) Working Day of receipt by the Share Escrow Agent of the Share Escrow Failure Notice pursuant to Clause 5.3 of this Agreement, provided however that, in case of any application money lying in the Escrow Demat Account cash escrow accounts (in terms of the Cash Escrow and Sponsor Bank Agreement) or in case Bid Amounts have been transferred to the Public Offer Account, the Share Escrow Agent shall debit the Escrow Demat Account and credit back the respective Offered Shares to the respective Promoter Selling Shareholder’s Demat Accounts with the Sold Offered Shares simultaneously upon receiving intimation of refund of such moneys by the Company subject to Applicable Laws and procedures, along with the bank statements showing no balance in the Escrow Account and Public Offer AccountAccount subject to Applicable Law.