Common use of Post-Closing Option Clause in Contracts

Post-Closing Option. In the event that it has not elected to pay the Maximum Purchase Price and receive an aggregate number of Class A Common Shares and/or Series A Preferred Shares contemplated by Section 2.1.5 above, with the ninety (90) day period immediately following the Closing Date (the “Post-Closing Option Period”), the Purchaser shall have the right and option (the “Purchase Option”) to elect, upon not less than five (5) Business Days prior written notice to the Company, to purchase from the Company such additional number of: (a) Class A Common Shares as shall be determined by dividing (i) the $270,000,000 Maximum Purchase Price, less the aggregate Closing Payment made by the Purchaser, by (ii) the Per Share Price then in effect; and/or (b) if (and only if) the Purchaser shall have elected Stock Purchase Plan B on the Closing Date, as contemplated by Section 2.2.2 below, such additional number of shares of Series A Preferred Shares as shall be determined by dividing the dollar amount of such Series A Preferred Shares to be purchased upon exercise of the Post-Closing Option, by a price of $10.00 per Series A Preferred Share. The exercise of the Purchase Option and the issuance of additional Class A Common Shares and/or Series A Preferred Shares shall be at the identical Per Share Price as to the Class A Common Shares and $10.00 per share price as to the Series A Preferred Shares, and on the identical terms and conditions as the issuance by the Company of Class A Common Shares and/or Series A Preferred Shares to the Purchaser on the Closing Date in consideration for the Closing Payment.