Optional Investment. At any time prior to the earlier of (i) the delivery of the Second Closing Notice by the Company (as defined below) and (ii) December 31, 2008, each Investor shall have the option at any time to purchase, in one or more closings, that number of shares of Series A-1 Preferred Stock which, in the aggregate, may be up to such Investor’s Second Closing Shares upon ten (10) days’ written notice to the Company at a purchase price per share equal to the Series A-1 Purchase Price.
Optional Investment. If the Underwriters and the Company sell shares of Common Stock in the Offering and to the Institutional Investors that, in the aggregate, result in more than $125 million in gross proceeds to the Company and, thus, PNC's Purchase Commitment is not fully utilized by the Company, PNC shall have the right, but not the obligation, to purchase an additional number of shares of Common Stock in the Offering to increase PNC's total investment in the Common Stock pursuant to this letter agreement to an amount not to exceed $50 million calculated at the Offering Price (the "Optional Investment"); provided that PNC's Optional Investment shall be limited to a number of shares such that the gross proceeds to the Company therefrom, when aggregated with the gross proceeds to the Company from the Offering, the purchase by the Institutional Investors and the Purchase Commitment, do not exceed $200 million. To the extent not theretofore exercised, PNC's rights with respect to the Optional Investment shall terminate on the Closing Date. Notwithstanding the preceding sentence, PNC's rights to the Optional Investment shall become exercisable only at such time as the distribution of the Common Stock in the Offering, including shares issuable pursuant to the underwriters' over-allotment option, has been completed. PNC's must exercise its Optional Investment rights within three business days of the completion of such distribution by the underwriters.
Optional Investment. The Operating Partner shall also have the option, but not the obligation, to invest an additional $12,500 in SDI by purchasing shares of Common Stock at a price equal to 50% of the Closing Price.
Optional Investment. The Company hereby grant an option to the Investors to purchase, on or before the first anniversary of the Closing Date, an additional amount of Notes (the “Additional Notes”) from the Company at the Purchase Price, not to exceed the aggregate amount of fifteen percent (15%) of the principal amount of Notes purchased under the Maximum Aggregate Investment (the “Optional Investment”). Except as otherwise set forth in this Agreement, the Additional Notes shall be on the same terms and conditions as the original Notes issued at Closing. The maximum principal amount of Additional Notes that each Investor may purchase shall be pro rata to the original principal amount of Notes purchased by each Investor at Closing (i.e., each Investor will only be permitted to purchase up to fifteen percent (15%) of the aggregate principal amount of Notes purchased by such Investor at the Closing at a corresponding pro rata portion of the Purchase Price). The Investors may exercise this right in whole or from time to time in part by giving written notice to the Company not later than five (5) Business Days prior to the first anniversary of the Closing Date. Any exercise notice shall specify the amount of Additional Notes to be purchased by the Investors under the Optional Investment and the date on which such Additional Notes are to be purchased. Each purchase date (including the delivery to the Company of payment in full of the Purchase Price for the Additional Notes) must be at least two (2) Business Days after the written notice is given and later than five (5) Business Days after the date of such notice (the “Optional Delivery Date”). On each Optional Delivery Date (a) the Investor exercising the Optional Investment shall purchase the amount of Additional Notes set forth in the exercise notice, (b) the Company shall sell the amount of Additional Notes set forth in the exercise notice, subject to receipt of the Purchase Price for the Additional Notes. Failure of the Investor to comply with the foregoing shall cause any purported exercise of the Optional Investment to be null and void. The Additional Notes shall not be assignable, except with the express written consent of the Company.
Optional Investment. The Owner Operator shall also have the option, but not the obligation, to invest an additional $12,500 in SDI by purchasing shares of Common Stock at a price equal to 50% of the Closing Price.
Optional Investment. The Company and the Buyers agree that, upon the declaration of effectiveness of the Registration Statement to be filed pursuant to the Registration Rights Agreement (the "EFFECTIVE DATE"), the Buyers shall have the option to enter in a subsequent securities purchase agreement with the Company (the "SUBSEQUENT SECURITIES PURCHASE AGREEMENT") within thirty (30) days following the Effective Date, and purchase additional debentures (the "OPTIONAL DEBENTURES") in the aggregate principal amount of Two Hundred Thousand Dollars ($200,000) and additional warrants to purchase an aggregate of 600,000 shares of Common Stock (the "OPTIONAL WARRANTS") for an aggregate purchase price of Two Hundred Thousand Dollars ($200,000), with the closing of such purchase to occur no later than (10) business days following the exercise of such option, PROVIDED, HOWEVER, that the obligation of each Buyer to purchase the Optional Debentures and the Optional Warrants is subject to such Buyer exercising its option to enter into the Subsequent Securities Purchase Agreement by written notice to the Company and the satisfaction, at or before the closing of such purchase and sale, of the terms and conditions set forth in the Subsequent Securities Purchase Agreement. The terms of the Optional Debentures and the Optional Warrants shall be identical to the terms of the Debentures and Warrants to be issued on the Closing Date; PROVIDED, HOWEVER, that the date of the Optional Debentures and the Optional Warrants shall be the date on which they are issued by the Company to the Buyers. The Common Stock underlying the Optional Debentures and the Optional Warrants shall be Registrable Securities (as defined in a registration rights agreement to be executed contemporaneously with the Subsequent Securities Purchase Agreement (the "SUBSEQUENT REGISTRATION RIGHTS AGREEMENT")) and shall be included in the Registration Statement to be filed pursuant to the Subsequent Registration Rights Agreement.
