Where Shareholder Approval not obtained. Where Shareholder Approval has not been received or is no longer valid as at the date on which an issuance of Shares or Options would be due to occur if such Shareholder Approval had been received and remaining in force, instead of the issuance of the relevant Shares or Options the Company must repay 110% of that part of the Amount Outstanding that would have otherwise been the subject of such issuance, unless this obligation is waived or postponed by the Investor in its discretion.
