Common use of Mandatory Increase in Minimum Purchase Price and Class A Common Shares Clause in Contracts

Mandatory Increase in Minimum Purchase Price and Class A Common Shares. The Parties hereto do hereby acknowledge and agree that, notwithstanding anything to the contrary, express or implied, contained in this Agreement, after giving effect to the transactions contemplated by this Agreement, on the Closing Date the Purchaser shall purchase and own of record and beneficially not less than fifty-one (51%) of the aggregate number of issued and outstanding Class A Common Shares of the Company, after giving effect to such purchase. Accordingly, in the event and to the extent that, on or before the Closing Date, any of the then issued and outstanding Convertible Debentures described in Section 3.8 of this Agreement shall have been converted by the holder(s) into Class A Common Shares of the Company, the Purchaser shall increase its Closing Payment in order to receive from the Company such minimum number of Class A Common Shares of the Company as shall represent not less than fifty-one (51%) of the aggregate number of issued and outstanding Class A Common Shares of the Company, after giving effect to such purchase. In such event, the minimum number of Class A Common Shares to be acquired by the Purchaser on the Closing Date shall be determined by dividing such Purchaser’s Closing Payment, as so increased, by the Per Share Price then in effect.