Common use of Blackout Period Clause in Contracts

Blackout Period. Notwithstanding the foregoing, the Parent Company may not either send out a redemption notice or effect a redemption during a Blackout Period (defined as a period during which the Parent Company's or the Subsidiary Company's officers or directors would not be entitled to buy or sell stock because of their holding of material non-public information). In the event the Parent Company initiates a redemption during a Blackout Period without having first made public material non-public information, the Parent Company or the Subsidiary Company shall disclose the non-public information that resulted in the Blackout Period, and no redemption shall be effected until at least 10 days after the Company or the Subsidiary Company shall have given the Holder written notice that the Blackout Period has been lifted.