IPO

IPO. Shall mean the first registration statement that is filed by the Company and declared effective pursuant to Section 12(g) of the Exchange Act, with respect to any class of the Company's securities.

IPO. The initial public offering of the Common Shares.

IPO. The initial public offering of the Class A common shares of BermudaCo.

IPO. Shall mean one or more sales of Common Stock by the Company pursuant to one or more registration statements effective under the Securities Act of 1933, as amended (the "1933 Act") that results in (i) gross proceeds to the Company of not less than $150,000,000 and (ii) the listing for trading on either the NASDAQ Stock Market or a national securities exchange of all shares of Voting Common Stock of the Company.

IPO. An underwritten public offering of Shares pursuant to an effective registration statement under the Securities Act of 1933, as amended, other than pursuant to a registration statement on Form S-4 or Form S-8 or other limited purpose form.

IPO. Shall mean the initial public offering pursuant to which equity securities of the Company become registered under Section 12 of the Exchange Act.

IPO. The underwritten initial public offering of the Company's Common Stock.

IPO. The issuance by the Company in an initial registered public offering under the Securities Act of a number of shares of Common Stock.

IPO. Means the initial underwritten offering pursuant to which the Shares become registered under Section 12 of the Exchange Act. -4-

IPO. Means the first public offering of the Common Stock of the Company (or its successor) to the general public that is affected pursuant to a registration statement filed with, and declared effective by, the Commission under the Securities Act.