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 7,050,000 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. The option hereby granted may be exercised for 30 days after the date hereof and may be exercised in whole or in part from time to time only for the purpose of covering overallotments made in connection with the offering and distribution of the Securities upon notice by the Representatives to the Company setting forth the 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. 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 total number of Optional Securities then being purchased which the number of Initial Securities set forth in Schedule A opposite the name of such Underwriter bears to the total number of Initial Securities, subject, in each case, to such adjustments as Xxxxxxx, Sachs & 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 The Company hereby grants an option to the Underwriters, acting severally and not jointly, the right to purchase at their election up to an additional 7,050,000 shares of Common Stock 1,173,913 Optional Securities, at the purchase price per share set forth in Schedule ASection 2(a), less provided that the purchase price per Optional Security shall be reduced by an amount per share equal to any dividends or distributions declared by the Company and payable on the Initial Firm Securities but not payable on the Optional Securities. The option hereby granted Any such election to purchase Optional Securities may be exercised for only by written notice from the Representatives to the Company, given within a period of 30 calendar days after the date hereof and may be exercised in whole or in part from time to time only for the purpose of covering overallotments made in connection with the offering and distribution of the Securities upon notice by the Representatives to the Company this Underwriting Agreement, setting forth the aggregate number of Optional Securities as to which the several Underwriters are then exercising the option be purchased and the time and date of payment and delivery for on which such Optional SecuritiesSecurities are to be delivered. 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 TimeTime (as defined herein) or, unless the Representatives and the Company otherwise agree in writing, earlier than two or later than ten business days after the date of such notice. 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 total number of Optional Securities then being purchased which the number of Initial Firm Securities set forth in Schedule Exhibit A opposite the name of such Underwriter bears to the total number of Initial Firm Securities, subject, in each case, to such adjustments as Xxxxxxx, Sachs & Co. the Representatives in its their sole discretion shall make to eliminate any sales or purchases of fractional Securities.shares

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 7,050,000 shares of Common Stock 645,000 Optional Securities at the price Purchase Price (less the per share set forth in Schedule Aamount or value, less an amount per share equal to as applicable, of any dividends dividend or distributions other distribution declared by the Company and payable on Company, the Initial Securities but not payable on record date of which occurs during the Optional Securitiesperiod from the Closing Time through the Option Closing Time (as defined below) with respect thereto). The Said option hereby granted may be exercised for 30 days after the date hereof and may be exercised in whole or in part at any time and from time to time only for on or before the purpose of covering overallotments made in connection with 30th day after the offering and distribution date of the Securities Prospectus upon notice by the Representatives Underwriters to the Company setting forth the 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. 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 total number of Optional Securities then being purchased which the number of Initial Securities set forth in Schedule A opposite the name of such Underwriter bears to the total number of Initial Securities, subject, in each case, to such adjustments as Xxxxxxx, Sachs & 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 7,050,000 shares of Common Stock 937,500 Optional Securities at the price Purchase Price (less the per share set forth in Schedule Aamount or value, less an amount per share equal to as applicable, of any dividends dividend or distributions other distribution declared by the Company and payable on Company, the Initial Securities but not payable on record date of which occurs during the Optional Securitiesperiod from the Closing Time through the Option Closing Time (as defined below) with respect thereto). The Said option hereby granted may be exercised for 30 days after the date hereof and may be exercised in whole or in part at any time and from time to time only for on or before the purpose of covering overallotments made in connection with 30th day after the offering and distribution date of the Securities Prospectus upon notice by the Representatives Underwriters to the Company setting forth the 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. 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 total number of Optional Securities then being purchased which the number of Initial Securities set forth in Schedule A opposite the name of such Underwriter bears to the total number of Initial Securities, subject, in each case, to such adjustments as Xxxxxxx, Sachs & Co. in its sole discretion shall make to eliminate any sales or purchases of fractional Securities.