Applied Redemption Call Right Sample Clauses

Applied Redemption Call Right. (a) Applied shall have the overriding right (the "Redemption Call Right"), notwithstanding the proposed redemption of the Exchangeable Shares by the Corporation pursuant to Article 6 of the Exchangeable Share Provisions, to purchase from all but not less than all of the holders (other than Applied) of Exchangeable Shares on the Automatic Redemption Date all but not less than all of the Exchangeable Shares held by each such holder on payment by Applied to the holder of an amount, for each Exchangeable Share held, equal to the Current Market Price of a share of Applied Common Stock on the last Business Day prior to the Automatic Redemption Date multiplied by the Current Applied Common Stock Equivalent. The payment shall be satisfied in (b) To exercise the Redemption Call Right, Applied must notify the Transfer Agent in writing, as agent for the holders of Exchangeable Shares, and the Corporation of Applied's intention to exercise such right at least 125 days before the Automatic Redemption Date. The Transfer Agent will notify the holders of the Exchangeable Shares as to whether or not Applied has exercised the Redemption Call Right forthwith after the date by which the same may be exercised by Applied. If Applied exercises the Redemption Call Right, on the Automatic Redemption Date Applied will purchase and the holders will sell all of the Exchangeable Shares then outstanding (other than shares held by Applied) for the Redemption Call Purchase Price. (c) For the purposes of completing the purchase of the Exchangeable Shares pursuant to the Redemption Call Right, Applied shall deposit with the Transfer Agent, on or before the Automatic Redemption Date, certificates representing the aggregate number of shares of Applied Common Stock deliverable by Applied (which shares shall be duly issued as fully paid and non-assessable and shall be free and clear of any liens) in payment of the total Redemption Call Purchase Price for all outstanding Exchangeable Shares and a cheque or cheques in the amount of the remaining portion, if any, of the total Redemption Call Purchase Price for all outstanding Exchangeable Shares. Provided that the total Redemption Call Purchase Price for all outstanding Exchangeable Shares has been so deposited with the Transfer Agent, on and after the Automatic Redemption Date the rights of each holder of Exchangeable Shares will be limited to receiving such holder's proportionate part of the total Redemption Call Purchase Price for all outstand...