Calculation in USD. For the purposes of Clause 4 (Rights of the Investors), Clause 9 (Buy Back of Equity Securities), calculation of dividends in paragraph 2 above, or for the calculation of the entitled return on the conversion of Series H CCPS, the calculation of the entitled amounts to the holders of Series H CCPS shall be made in USD terms by taking the issue price paid by the holders of Series H CCPS in USD terms by applying the reference rate of the Reserve Bank of India for USD-INR conversion as on the date on which the issue price of Series H CCPS is received by the Company. However, at the time of payment of amounts to the holders of Series H CCPS, the USD entitled amounts shall be converted into USD amounts by applying the reference rate of the Reserve Bank of India for USD-INR conversion as on the date on which such payment is effected and payment shall thereupon be made in INR amounts. Further, the subscription price and adjustment to Normal Conversion Factor for the purpose of anti-dilution provision shall be calculated in US$ based on the amount invested by holders of Series H CCPS in US$ as specified above.
Calculation in USD. The amount that the holders of Series H CCPS are entitled pursuant to the provisions relating to dividends and Liquidation Event A or Liquidation Event B shall be calculated in US$ based on the amounts invested by the holders of Series H CCPS in US$ terms. However, the payment to the holders of Series H CCPS shall be made in INR by applying the Reserve Bank of India reference rate for US$-INR conversion as on the date of payment by the Company to the holders of Series H CCPS. The calculation of the entitled return on the conversion of Series H CCPS shall also be calculated in US$ terms based on the amounts invested by the holders of Series H CCPS in US$ terms. Further, the subscription price and adjustment to Normal Conversion Factor for the purpose of anti-dilution provision shall be calculated in US$ based on the amount invested by holders of Series H CCPS in US$. For the purposes of the above, the amount invested by the holders of Series H CCPS in US$ terms shall be the US$ paid by the holders as mentioned in the foreign inward remittance certificates as the US$ amount converted into INR for the purposes of foreign direct investment by the holders in the Company. SCHEDULE 5 LIST OF PERMITTED MATTERS The following disbursements under the existing loan facility arrangements entered into by the Company and/or its Subsidiaries may be applied/received without requiring approval from the Investor pursuant to Clause 2.02(b) of this Agreement. Company name Date of Agreement Lender Total of Loan (amount in INR crores) Remaining Disbursement (amount in INR crores) Azure Sunshine Pvt. Ltd 23-Sep-14 IREDA 53.41 2.67 30-0ct-14 CBI 63.94 3.20 Azure Green Tech Pvt. Ltd 23-Sep-14 IREDA 105.68 5.28 30-0ct-14 CBI 130.63 6.53 Azure Clean Energy Pvt. Ltd 13-Mar-15 IREDA 87.49 4.37 31-Oct-14 IFC 86.10 8.61 13-Mar-15 IIFCL 31.40 1.57 Azure Power India Pvt. Ltd. 8-May-15 Yes Bank 160.10 10.01 Azure Sunlight Pvt. Ltd Yet to be Signed OPIC Approx. 128 Approx. 128 Azure Mars Pvt. Ltd. Yet to be Signed Reliance Capital Bridge Loan 25 25 Azure Solar Solution Pvt Ltd 25-03-2014 Central Bank of India 31.45 19.45 - 77 - SCHEDULE 6 LIST OF RELATED AGREEMENTS All capitalized terms used herein but not defined shall have the meaning given to them under the Agreement.
