Common use of Automatic Redemption on Bankruptcy Clause in Contracts

Automatic Redemption on Bankruptcy. Notwithstanding the earliest dates for redemption set forth in Section 7, if a Series B Preferred Shares Breach described in Section 8.1(b) has occurred, all of the then outstanding Series B Preferred Shares shall be subject to redemption immediately without any action required by the holders of Shares, for a price per Share equal to the Series B Redemption Price. Any such redemption shall occur immediately and shall otherwise be executed in accordance with the provisions of Section 7, applied mutatis mutandis.

Automatic Redemption on Bankruptcy. Notwithstanding the earliest dates date for redemption set forth in Section 77.1, if a Series B A Preferred Shares Breach described in Section 8.1(b10.1(b) has occurred, all of the then outstanding Shares of Series B A Preferred Shares shall be subject to redemption immediately without any action required by the holders of Shares of Series A Preferred Shares, for a price per Share equal to the Series B A Redemption Price. Any such redemption shall occur immediately and shall otherwise be executed in accordance with the provisions of Section 7, applied mutatis mutandis.

Automatic Redemption on Bankruptcy. Notwithstanding the earliest dates for redemption set forth in Section 7, if a Series B Preferred Shares Breach described in Section 8.1(b) has occurred, all of the then outstanding Series B Preferred Shares shall be subject to redemption immediately without any action required by the holders of Shares, for a price per Share equal to the Series B Redemption Price. Any such redemption shall occur immediately and shall otherwise be executed in accordance with the provisions of Section 7, applied mutatis mutandis. Section 9.