Common use of Directed Shares Clause in Contracts

Directed Shares. It is understood that approximately [ ] Initial Shares (the “Directed Shares”) will initially be reserved by the several Underwriters for offer and sale upon the terms and conditions to be set forth in the Prospectus and in accordance with the rules and regulations of FINRA to directors, officers and employees of the Company and its subsidiary and persons having business relationships with the Company and its subsidiary who have heretofore delivered to ▇▇▇▇▇▇▇ ▇▇▇▇▇ & Associates, Inc. offers or indications of interest to purchase Initial Shares in form satisfactory to ▇▇▇▇▇▇▇ ▇▇▇▇▇ & Associates, Inc. (“Directed Share Participants”) and that any allocation of such Initial Shares among such persons will be made in accordance with timely directions received by ▇▇▇▇▇▇▇ ▇▇▇▇▇ & Associates, Inc. from the Company (such program, the “Directed Share Program”); provided that under no circumstances will ▇▇▇▇▇▇▇ ▇▇▇▇▇ & Associates, Inc. or any Underwriter be liable to the Company or to any such person for any action taken or omitted in good faith in connection with such Directed Share Program. It is further understood that any Directed Shares not affirmatively reconfirmed for purchase by any participant in the Directed Share Program by 9:30 a.m., New York City time, on the first business day following the date hereof or otherwise are not purchased by such persons will be offered by the Underwriters to the public upon the terms and conditions set forth in the Disclosure Package and Prospectus. The Company agrees to pay all fees and disbursements incurred by the Underwriters in connection with the Directed Share Program and any stamp duties or other taxes incurred by the Underwriters in connection with the Directed Share Program.

Directed Shares. It is understood that approximately [ ] Initial Shares (the “Directed Shares”) will initially be reserved by the several Underwriters for offer and sale upon the terms and conditions to be set forth in the Prospectus and in accordance with the rules and regulations of FINRA to directors, officers and employees of the Company and its subsidiary Subsidiaries and persons having business relationships with the Company and its subsidiary Subsidiaries who have heretofore delivered to ▇.▇. ▇▇▇▇▇▇ ▇▇▇▇▇ & Associates, Inc. Securities LLC offers or indications of interest to purchase Initial Shares in form satisfactory to ▇.▇. ▇▇▇▇▇▇ ▇▇▇▇▇ & Associates, Inc. Securities LLC (“Directed Share Participants”) and that any allocation of such Initial Shares among such persons will be made in accordance with timely directions received by ▇.▇. ▇▇▇▇▇▇ ▇▇▇▇▇ & Associates, Inc. Securities LLC from the Company (such program, the “Directed Share Program”); provided that under no circumstances will ▇.▇. ▇▇▇▇▇▇ ▇▇▇▇▇ & Associates, Inc. Securities LLC or any Underwriter be liable to the Company or to any such person for any action taken or omitted in good faith in connection with such Directed Share Program. It is further understood that any Directed Shares not affirmatively reconfirmed for purchase by any participant in the Directed Share Program by 9:30 8:00 a.m., New York City time, on the first business day following the date hereof or otherwise are not purchased by such persons of this Agreement will be offered by the Underwriters to the public upon the terms and conditions set forth in the Disclosure Package and Prospectus. The Company agrees to pay all fees and disbursements incurred by the Underwriters in connection with the Directed Share Program and any stamp duties or other taxes incurred by the Underwriters in connection with the Directed Share Program.