Common use of Company Redemption of Debenture and Termination of Additional Debenture Purchases Clause in Contracts

Company Redemption of Debenture and Termination of Additional Debenture Purchases. Provided that no Event of Default has occurred under the Debenture, the Company shall have the right, in the Company’s sole and absolute discretion, during the time period commencing on the date hereof and terminating on the 120th day following the date hereof, to (i) redeem the Debenture for a redemption price equal to 100% of the outstanding principal amount of the Debenture, plus any accrued and unpaid interest thereon (such aggregate amount referred to herein as the “Redemption Amount”), and (ii) terminate the right and obligation of the Holder to purchase the Additional Debenture through (x) the delivery of written notice to the Holder of such termination in the manner provided in Article XVII hereof and (y) the delivery to the Holder of a payment in cash equal to the Redemption Amount within 3 business days of the delivery of such notice. Notwithstanding the foregoing, the payment of the Redemption Amount shall first be satisfied by and offset against any amounts due to the Company under the Promissory Note and such amounts of the Promissory Note so applied against the Redemption Amount that the Company is required or permitted to redeem shall reduce the amount outstanding under the Promissory Note by a like amount. After the application of the amount owed under the Promissory Note, if any, to the Redemption Amount, the Company shall immediately pay in cash to the Holder any remaining amount owed by the Company to the Holder in connection with the payment of the Redemption Amount.

Company Redemption of Debenture and Termination of Additional Debenture Purchases. Provided that no Event of Default has occurred under the Debenture, the Company shall have the right, in the Company’s sole and absolute discretion, during the time period commencing on the date hereof and terminating on the 120th 45th day following the date hereof, to (i) redeem the Debenture for a redemption price equal to 100% of the outstanding principal amount of the Debenture, plus any accrued and unpaid interest thereon (such aggregate amount referred to herein as the “Redemption Amount”), and (ii) terminate the right and obligation of the Holder to purchase all of the Additional Debenture Debentures through (x) the delivery of written notice to the Holder of such termination in the manner provided in Article XVII hereof and (y) the delivery to the Holder of a payment in cash equal to the Redemption Amount within 3 business days of the delivery of such notice. Notwithstanding the foregoing, the payment of the Redemption Amount shall first be satisfied by and offset against any amounts due to the Company under the Promissory Note and such amounts of the Promissory Note so applied against the Redemption Amount that the Company is required or permitted to redeem shall reduce the amount outstanding under the Promissory Note by a like amount. After the application of the amount owed under the Promissory Note, if any, to the Redemption Amount, the Company shall immediately pay in cash to the Holder any remaining amount owed by the Company to the Holder in connection with the payment of the Redemption Amount, return all copies of the Promissory Note marked “Cancelled” to the Holder, and file all appropriate documentation with the appropriate authorities to cancel, release and terminate any and all UCC Financing Statements, liens, restrictions, security interests or encumbrances on any of the Holder’s assets or properties that have been made in connection with the Promissory Note and promptly deliver copies of such filings to the Holder. The Company shall provide such other assistance related to the termination of such financing statements, liens, restrictions, security interests or encumbrances on any of the Holder’s assets or properties made in connection with the Promissory Note including, but not limited to, the filing of any UCC termination or financing statements, releases or reconveyances as reasonably requested by the Holder.

Company Redemption of Debenture and Termination of Additional Debenture Purchases. Provided that no Event of Default has occurred under the Debenture, the Company shall have the right, in the Company’s sole and absolute discretion, during the time period commencing on the date hereof and terminating on the 120th 90th day following the date hereofhereof (such period referred to herein as the “Redemption Period”), to (i) redeem the Debenture for a redemption price equal to one hundred percent (100% %) of the outstanding principal amount of the Debenture, plus any accrued and unpaid interest thereon (such aggregate amount referred to herein as the “Redemption Amount”), and (ii) terminate the right and obligation of the Holder to purchase the all Additional Debenture Debentures through (x) the delivery of written notice to the Holder of such termination in the manner provided in Article Section XVII hereof and (y) the delivery to the Holder of a payment in cash equal to the Redemption Amount within 3 business days of the delivery of such notice. Notwithstanding the foregoing, the payment of the Redemption Amount shall first be satisfied by and offset against any amounts due to the Company under the Promissory Note and such amounts of the Promissory Note so applied against the Redemption Amount that the Company is required or permitted to redeem shall reduce the amount outstanding under the Promissory Note by a like amount. After the application of the amount owed under the Promissory Note, if any, to the Redemption Amount, the Company shall immediately pay in cash to the Holder any remaining amount owed by the Company to the Holder in connection with the payment of the Redemption Amount.

Company Redemption of Debenture and Termination of Additional Debenture Purchases. Provided that no Event of Default has occurred under the Debenture, the Company shall have the right, in the Company’s sole and absolute discretion, during the time period commencing on the date hereof and terminating on the 120th day following the date hereof, to (i) redeem the Debenture for a redemption price equal to 10099% of the outstanding principal amount of the Debenture, plus any accrued and unpaid interest thereon (such aggregate amount referred to herein as the “Redemption Amount”), and (ii) terminate the right and obligation of the Holder to purchase the all Additional Debenture Debentures through (x) the delivery of written notice to the Holder of such termination in the manner provided in Article Section XVII hereof and (y) the delivery to the Holder of a payment in cash equal to the Redemption Amount within 3 business days of the delivery of such notice. Notwithstanding the foregoing, the payment of the Redemption Amount shall first be satisfied by and offset against any amounts due to the Company under the Promissory Note and such amounts of the Promissory Note so applied against the Redemption Amount that the Company is required or permitted to redeem shall reduce the amount outstanding under the Promissory Note by a like amount. After the application of the amount owed under the Promissory Note, if any, to the Redemption Amount, the Company shall immediately pay in cash to the Holder any remaining amount owed by the Company to the Holder in connection with the payment of the Redemption Amount.