Common use of Initial Subscription Clause in Contracts

Initial Subscription. 2.1 On the Initial Completion Date, the Company irrevocably undertakes to, and CPI shall procure that the Company shall, issue and allot, and the Subscriber shall, and Aroundtown shall procure that the Subscriber shall, subscribe for, the Initial Subscription Shares with all rights now or in the future attaching to them (including without limitation the right to receive all dividends, distributions and interest or any return of capital declared, made or paid on or after the Initial Completion Date) and free from all Encumbrances, on the terms of this Deed. The premium on each Redeemable Preference Share forming part of the Initial Subscription Shares issued in accordance with this Clause 2.1 shall be €8.68 (being the EPRA net asset value per Target Share shown in the Target’s audited financial statements as at 31 December 2020). 2.2 CPI hereby waives and shall procure the waiver of any restrictions (including all pre-emption rights) which may exist in relation to the issue and allotment of the Initial Subscription Shares. 2.3 The consideration for the Initial Subscription shall be the transfer by the Subscriber, or for or on behalf of the Subscriber, to the Company at Initial Completion of the 48,629,464 Target Shares held by the Subscriber (the “Consideration Shares”).

Initial Subscription. 2.1 3.1 On the Initial Completion Date, the Company Tevat irrevocably undertakes to, and CPI shall procure that the Company Tevat shall, issue and allot, and the Subscriber shall, and Aroundtown shall procure that the Subscriber shall, subscribe for, the Initial Subscription Shares with all rights now or in the future attaching to them (including without limitation the right to receive all dividends, distributions and interest or any return of capital declared, made or paid on or after the Initial Completion Date) and free from all Encumbrances, on the terms of this Deed. The premium on each Redeemable Preference Share forming part of the Initial Subscription Shares issued in accordance with this Clause 2.1 3.1 shall be €8.68 (being the EPRA net asset value per Target Share shown in the Target’s audited financial statements as at 31 December 2020). 2.2 3.2 CPI hereby waives and shall procure the waiver of any restrictions (including all pre-emption rights) which may exist in relation to the issue and allotment of the Initial Subscription Shares. 2.3 3.3 The consideration for the Initial Subscription shall be the transfer by the Subscriber, or for or on behalf of the Subscriber, to the Company Tevat at Initial Completion of the 48,629,464 Target Shares held by the Subscriber (the “Consideration Shares”).