Common use of Deemed Exercises; Subscription Excess Clause in Contracts

Deemed Exercises; Subscription Excess. If an exercising Holder has not indicated the number of Subscription Rights being exercised, or if the Subscription Price payment forwarded by such Holder to the Agent is not sufficient to purchase the number of shares subscribed for, the Holder will be deemed to have exercised the Subscription Privilege with respect to the maximum number of whole Subscription Rights which may be exercised for the Subscription Price delivered to the Agent. To the extent the payment forwarded by the Holder exceeds maximum number of whole Subscription Rights which may be exercised for the Subscription Price ("Subscription Excess"), the Agent, as soon as practicable after the exercise of the Subscription Rights, shall mail to such Holders any portion of the Subscription Excess, without interest or deduction.

Deemed Exercises; Subscription Excess. If an exercising Holder has not indicated the number of Subscription Rights being exercised, or if the Subscription Price payment forwarded by such Holder to the Agent is not sufficient to purchase the number of shares subscribed for, the Holder will be deemed to have exercised the Subscription Privilege with respect to the maximum number of whole Subscription Rights which may be exercised for the Subscription Price delivered to the Agent. To , (to the extent that the Subscription Price payment forwarded delivered by such Holder exceeds the Subscription Price multiplied by the Holder exceeds maximum number of whole Subscription Rights which may be exercised for such excess being the Subscription Price ("“Subscription Excess"”), the . The Agent, as soon as practicable after the exercise of the Subscription Rights, shall mail to such Holders any portion of the Subscription Excess, without interest or deduction.