Common use of Qualifying IPO Clause in Contracts

Qualifying IPO. The Company and the Founders agree that each of them will use their best endeavours to procure a Qualifying IPO by 31 December 2007 (or such other date as the Company and the Preference Shareholders may agree). In connection with the foregoing, the Founders will procure that the Company will support the application for such a Qualifying IPO and they will exercise their votes at any general meeting of the Company called for such purpose. The terms of such a Qualifying IPO, the appointment of any manager, arranger, underwriter or other financial advisor for such a Qualifying IPO shall be subject to the prior written consent of the Preference Shareholders and the Founders (such consent not to be unreasonably withheld), provided that if the Preference Shareholders and/or the Founders shall fail to respond or to unanimously agree within thirty (30) days after being notified of such terms and appointment, such matters shall then be decided by the Board.