SECTION 2
DELIVERY AND PAYMENT ON SALE
2.1 Purchase Amount. Subject at all times to all the terms and conditions of this Agreement, EFH agrees to pay to the Seller funds equal to the Purchase Price multiplied by 350,000,000 shares of Country Group Development PCL (CGD.TB)( the “Purchase Amount”). The Purchase Amount shall be funded in the contractual currency no later than the Closing Date and shall be memorialized in a Closing Statement in the form of Exhibit 1 hereto, which is hereby incorporated by reference.
(a) The seller and EFH have discussed that they each may elect to enter into additional share sale and repurchase transactions utilizing additional tranches of this same security. EFH agrees to make its best efforts to complete additional transactions on additional tranches of up to 1,500,000.000 shares in the aggregate contingent upon aggregate market conditions such as the share price, trading volume, number of shares issued and outstanding, the number of shares in the float. for example. Any subsequent additional share sale and repurchase transaction utilizing additional shares of this same security, will be subject to the same terms and conditions as set forth in this Agreement that the except Purchase Price and Repurchase Price offered on the shares and the number of Shares shall be mutually agreed on by the parties on each and every subsequent tranche and the new starting date for the new transaction shall be memorialized in the Tranche Agreement form attached hereto as Exhibit2
(b) EFH has the discretion and right to elect to not proceed with any transaction with the Seller up until the completion of the Closing
2.2 Origination Fee Contemporaneous with the funding of the Purchase Amount by EFH on the Closing Date, the Seller agrees to pay an agreed upon origination fee of 9.5% of the Purchase Amount. EFH is authorized to deduct the origination fee from the Purchase Amount. if such a fee is charged.
2.3 Dividends, Interest and Other Distributions.The Seller, as the transferor of the stock, shall receive from the Purchaser a payment of an amount equivalent to all dividends and other distributions which the beneficial owner of those securities is entitled to receive during the period of the transaction which ends with the transfer of identical securities back to the Seller when the Repurchase Amount and other amounts due under the Agreement are paid Dividends or other payments due to the Seller will be paid by the Purchaser on a quarterly basis.
2.4 Payment of Repurchase Amount on Maturity Date. The Seller agrees to pay to EFH the Repurchase Amount plus any other obligations due on the Maturity Date which shall be three (3) years subsequent to the occurrence of the closing Date. If EFH has not received the full Repurchase Amount and all other obligations due in immediately available funds before the close of business of five (5) Exchange Business Days after the Maturity Date, Seller/ Repurchaser shall pay to EFH a late charge equal to the five percent (5%) of the amount of the Repurchase Amount that is then due. Such late charge shall be assessed only once, but shall be in addition to and cumulative with all other obligations, rights, benefits and remedies available to EFH under the Agreement on account of any default by the seller.
2.5 Authority and Right to Sell and Buy the Shares. Seller further acknowledges and agrees that EFH may take any and all actions with respect to the Shares as it, in its sole and absolute discretion, may deemed to be advisable, including. without limitation, selling and buying some or all of the Shares within or among one or more depositary accounts, and creating and trading derivative instruments that are backed, in whole or in part, by the Shares. Any such sale or other disposition of any Shares shall be deemed to be fully authorized and approved by the Seller pursuant to this Agreement, and otherwise proper in all respects. EFH is under no obligation to sequester, hold, retain or escrow the Shares in any manner, nor keep it apart from any other assets of EFH, and EFH may combine the Shares, in whole or in part, with any other assets.
2.6 Prepayment. There is no early termination or prepayment of the Repurchase Amount permitted prior to the Maturity Date. Seller acknowledges that if the Repurchase Amount is paid for any reason prior to the Maturity Date, EFH will incur losses and damages.
2.7 Pre-Closing Deliveries. The Seller shall have delivered to EFH:
(a) the Share Sale and Repurchase Agreement duly executed by Seller; and
(b) delivery of the Shares in electronic form. Instructions for electronic transfer of the Shares to EFH are as follows :