Common use of Optional Securities Clause in Contracts

Optional Securities. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company hereby grants an option to the Underwriters, severally and not jointly, to purchase up to an additional $7,500,000 aggregate principal amount of Optional Securities, solely to cover over-allotments, if any, at the Purchase Price plus accrued interest from the Closing Time or the relevant Date of Delivery, as applicable. The Underwriters shall be paid a commission of 3.15% of the aggregate principal amount of the Optional Securities purchased. The option hereby granted will expire 30 days after the date hereof and may be exercised in whole or in part from time to time on one or more occasions which may be made in connection with the offering and distribution of the Firm Securities upon notice by the Representatives to the Company setting forth the aggregate principal amount of Optional Securities as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Optional Securities. Any such time and date of delivery (a “Date of Delivery”) shall be determined by the Representatives, but shall not be later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Optional Securities, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the aggregate principal amount of Optional Securities then being purchased which the aggregate principal amount of Firm Securities set forth in Schedule I opposite the name of such Underwriter bears to the total aggregate principal amount of Firm Securities.

Optional Securities. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company Selling Stockholders, to the extent indicated in Schedule B hereto, hereby grants grant, severally and not jointly, an option to the Underwriters, severally and not jointly, to purchase up to an additional $7,500,000 aggregate principal 4,200,000 shares of Common Stock at the price per share set forth in Schedule A, less an amount per share equal to any dividends or distributions declared by the Company and payable on the Initial Securities but not payable on the Optional Securities. Any such election to purchase Optional Securities shall be made in proportion to the number of Optional Securities, solely Securities to cover over-allotments, if any, at the Purchase Price plus accrued interest from the Closing Time or the relevant Date of Delivery, as applicable. The Underwriters shall be paid a commission of 3.15% of the aggregate principal amount of the Optional Securities purchasedsold by each Selling Stockholder. The option hereby granted will expire may be exercised for 30 days after the date hereof and may be exercised in whole or in part from time to time on one or more occasions which may be made in connection with the offering and distribution of the Firm Securities upon notice by the Representatives to the Company and the Selling Stockholders setting forth the aggregate principal amount number of Optional Securities as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Optional Securities. Any such time and date of delivery (a “Date of Delivery”) shall be determined by the Representatives, but shall not be later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Optional Securities, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the aggregate principal amount total number of Optional Securities then being purchased which the aggregate principal amount number of Firm Initial Securities set forth in Schedule I A opposite the name of such Underwriter bears to the total aggregate principal amount number of Firm Initial Securities, subject, in each case, to such adjustments as Xxxxxxx, Xxxxx & Co. in its sole discretion shall make to eliminate any sales or purchases of fractional Securities.

Optional Securities. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company Selling Stockholders, to the extent indicated in Schedule B hereto, hereby grants grant, severally and not jointly, an option to the Underwriters, severally and not jointly, to purchase up to an additional $7,500,000 aggregate principal 2,775,000 shares of Common Stock at the price per share set forth in Schedule A, less an amount per share equal to any dividends or distributions declared by the Company and payable on the Initial Securities but not payable on the Optional Securities. Any such election to purchase Optional Securities shall be made in proportion to the number of Optional Securities, solely Securities to cover over-allotments, if any, at the Purchase Price plus accrued interest from the Closing Time or the relevant Date of Delivery, as applicable. The Underwriters shall be paid a commission of 3.15% of the aggregate principal amount of the Optional Securities purchasedsold by each Selling Stockholder. The option hereby granted will expire may be exercised for 30 days after the date hereof and may be exercised in whole or in part from time to time on one or more occasions which may be only for the purpose of covering overallotments made in connection with the offering and distribution of the Firm Securities upon notice by the Representatives to the Company and the Selling Stockholders setting forth the aggregate principal amount number of Optional Securities as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Optional Securities. Any such time and date of delivery (a “Date of Delivery”) shall be determined by the Representatives, but shall not be later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Optional Securities, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the aggregate principal amount total number of Optional Securities then being purchased which the aggregate principal amount number of Firm Initial Securities set forth in Schedule I A opposite the name of such Underwriter bears to the total aggregate principal amount number of Firm Initial Securities, subject, in each case, to such adjustments as Xxxxxxx, Xxxxx & Co. in its sole discretion shall make to eliminate any sales or purchases of fractional Securities.

Optional Securities. In addition, on the basis of the representations and warranties herein contained and subject Subject to the terms and conditions and in reliance upon the representations and warranties herein set forth, the Company hereby grants an option to the Underwritersseveral Underwriters to purchase, severally and not jointly, to purchase up to an additional $7,500,000 aggregate principal amount of 1,050,000 Optional Securities, solely to cover over-allotments, if any, Securities at the Purchase Price plus accrued interest (less the per share amount or value, as applicable, of any dividend or other distribution declared by the Company, the record date of which occurs during the period from the Closing Time or through the relevant Date of Delivery, Option Closing Time (as applicabledefined below) with respect thereto). The Underwriters shall be paid a commission of 3.15% of the aggregate principal amount of the Optional Securities purchased. The Said option hereby granted will expire 30 days after the date hereof and may be exercised in whole or in part at any time and from time to time on one or more occasions which may be made in connection with before the offering and distribution 30th day after the date of the Firm Securities Prospectus upon notice by the Representatives Underwriters to the Company setting forth the aggregate principal amount number of shares of the Optional Securities as to which the several Underwriters are then exercising the option and the settlement time and date date. The number of payment and delivery for Optional Securities to be purchased by each Underwriter shall be the same percentage of the total number of shares of the Optional Securities to be purchased by the several Underwriters as such Underwriter is purchasing of the Initial Securities, plus any additional number of Optional SecuritiesSecurities which such Underwriter may become obligated to purchase pursuant to the provisions of Section 9 hereof, subject to such adjustments as you in your absolute discretion shall make to eliminate any fractional shares. Any such time and date of delivery (a an “Date of DeliveryOption Closing Time”) shall be determined by the Representativesyou, but shall not be later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Optional Securities, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the aggregate principal amount of Optional Securities then being purchased which the aggregate principal amount of Firm Securities set forth in Schedule I opposite the name of such Underwriter bears to the total aggregate principal amount of Firm Securities.

Optional Securities. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company hereby grants an option to the Underwriters, severally and not jointly, to purchase up to an additional $7,500,000 aggregate principal amount 900,000 shares of Optional Securities, solely to cover over-allotments, if any, at the Purchase Price plus accrued interest dividends from the Closing Time or the relevant Date of Delivery, as applicable. The Underwriters shall be paid a commission of 3.15% of the aggregate principal amount of the Optional Securities purchased. The option hereby granted will expire 30 days after the date hereof and may be exercised in whole or in part from time to time on one or more occasions which may be made in connection with the offering and distribution of the Firm Securities upon notice by the Representatives to the Company setting forth the aggregate principal amount number of Optional Securities as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Optional Securities. Any such time and date of delivery (a “Date of Delivery”) shall be determined by the Representatives, but shall not be later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Optional Securities, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the aggregate principal amount of Optional Securities then being purchased which the aggregate principal amount of Firm Securities set forth in Schedule I opposite the name of such Underwriter bears to the total aggregate principal amount of Firm SecuritiesSecurities (subject, in each case, to such adjustment to eliminate fractional shares as the Representatives may determine).

Optional Securities. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company hereby grants an option to the Underwriters, severally and not jointly, to purchase up to an additional $7,500,000 22,500,000 aggregate principal amount of Optional Securities, solely to cover over-allotments, if any, Securities at the Purchase Price plus accrued interest from the Closing Time or the relevant Date of Delivery, as applicable. The Underwriters shall be paid a commission of 3.153% of the aggregate principal amount of the Optional Securities purchased. The option hereby granted will expire 30 days after the date hereof and may be exercised in whole or in part from time to time on one or more occasions which may be made in connection with the offering and distribution of the Firm Securities upon notice by the Representatives to the Company setting forth the aggregate principal amount of Optional Securities as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Optional Securities. Any such time and date of delivery (a “Date of Delivery”) shall be determined by the Representatives, but shall not be later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Optional Securities, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the aggregate principal amount of Optional Securities then being purchased which the aggregate principal amount of Firm Securities set forth in Schedule I opposite the name of such Underwriter bears to the total aggregate principal amount of Firm Securities.