Common use of Put Options Clause in Contracts

Put Options. (a) Subject to Section 12.5, each Holder shall have an option (the “Holder Put Option”), exercisable during the period commencing on the date that is six (6) months after the Closing Date and ending on the date that is eighteen (18) months after the Closing Date (the “Holder Put Exercise Period”), to require the Existing Shareholders to purchase all, but not less than all, of the Series A Preferred Shares (and/or all of the Ordinary Shares issued upon conversion of the Series A Preferred Shares, if any) then held by such Holder, at a per Share price equal to the Buyback Price. (b) Subject to Section 12.5, upon the occurrence of a Put Event, each Holder shall have an option (a “Special Put Option”), exercisable within sixty (60) days after the occurrence of such Put Event (it being understood that if there a dispute concerning the occurrence of a Put Event, for purposes of this Section 12.1(b), the Put Event shall only be deemed to have occurred on the date on which such dispute shall have been finally resolved or determined in favor of the Holder in accordance with the terms of the relevant Investment Agreement, this Agreement or the Articles, as the case may be) (the “Special Put Exercise Period”), to require the Existing Shareholders to purchase all, but not less than all, of the Series A Preferred Shares (and/or all of the Ordinary Shares issued upon conversion of the Series A Preferred Shares, if any) then held by such Holder, at a per Share price equal to the Buyback Price.