Company Redemption Right. (a) Following the date hereof, in the event that the Market Price for Shares of Common Stock shall be less than $1.50 (as may be equitably adjusted for subsequent stock splits, reverse splits, consolidations and stock dividends) for 20 consecutive Trading Days (the "REDEMPTION TRIGGERING EVENT"), then the Company shall have the right within 20 Trading Days of the Redemption Triggering Event to deliver written notice (the "Redemption Notice") to the Holder, to redeem all or a portion of this Debenture at 115% of the Outstanding Principal Amount plus all accrued but unpaid interest and all Delay Payments thereon (the "Redemption Price"), subject to the conditions set forth below. The foregoing redemption right (the "REDEMPTION RIGHT") shall, if exercised, be irrevocable and may be exercised no more than twice and if exercised, may not be exercised again until 3 months after the first Redemption Closing Date (as defined below).
Company Redemption Right. Unless the applicable Agreement provides otherwise, every Option may be redeemed by the Company in connection with the merger, consolidation, separation (including a spin off or other distribution of stock or property), reorganization (whether or not such reorganization comes within the meaning of such term in Section 368(a) of the Code) or partial or complete liquidation of the Company. The redemption price for any Option redeemed by the Company shall be the Fair Market Value of the Stock underlying such Option, less the exercise price of such Option. The redemption price, less any amount of federal or state taxes attributable to the redemption that the Company deems it necessary or advisable to pay or withhold, shall be paid in cash. Notwithstanding the foregoing, if any Option constitutes “nonqualified deferred compensation” for purposes of Section 409A, and if the Company’s redemption right under this Section 6.10 would cause such Option to be subject to excise tax under Section 409A, then the Company’s redemption right under this Section 6.10 with respect to such Option shall be limited to those triggering events that constitute a “change in ownership,” a “change in effective control” or a “change in the ownership of a substantial portion of the assets” of the Company for purposes of Section 409A.
Company Redemption Right. At any time after the date hereof until November 19, 2015, the Company may deliver a notice to the Holder (an “Optional Redemption Notice” and the date such notice is deemed delivered hereunder, the “Optional Redemption Notice Date”) of its irrevocable election to redeem some or all of the then outstanding Preferred Stock, for cash in an amount equal to the aggregate Stated Value then outstanding plus any other amounts due in respect of the Preferred Stock (the “Optional Redemption Amount”) on the 20th Trading Day following the Optional Redemption Notice Date (such date, the “Optional Redemption Date”, such period, the “Optional Redemption Period” and such redemption, the “Optional Redemption”). The Optional Redemption Amount is payable in full on the Optional Redemption Date. The Company shall not take any action, or omit to take any action with the purpose or intent of impeding or frustrating the Holders right to convert or exchange shares of Preferred Stock into Common Stock during the Optional Redemption Period and sell the Common Stock in the market. The Company covenants and agrees that it will honor all Notices of Conversion and right to exchange under this Agreement tendered from the time of delivery of the Optional Redemption Notice through the date the Optional Redemption Amount is paid in full. If any portion of the cash payment for an Optional Redemption has not been paid by the Company on the Optional Redemption Date, interest shall accrue thereon until such amount is paid in full at a rate equal to the lesser of 18% per annum or the maximum rate permitted by applicable law.
Company Redemption Right. At any time up to that date which is five (5) years after the date of the issuance of the first share of the Class C Preferred Stock, the Company shall have the right to redeem or repurchase up to all of the Class C Preferred Stock by giving written notice thereof to the Company. Following any such notice, the Company shall redeem or repurchase all of such outstanding shares of Class C Preferred Stock by paying to the then current holder an amount equal to $1,500,000 plus any accrued or unpaid dividends.
Company Redemption Right. Notwithstanding any of the provisions in this Section 2 (other than Section 2.6(c)), the Company may elect, by delivery of written notice (the “Redemption Notice”) to the Holder no later than two Business Days after receipt of the Notice of Exercise, to pay to the Holder (in lieu of delivery of the applicable number of Warrant Shares) an amount per such Warrant Share equal to the greater of (a) the volume weighted average price (rounded to the nearest one-hundredth of one cent) of the Class A Common Stock on the New York Stock Exchange for the 30 trading days immediately preceding the date on which the Holder delivers the Notice of Exercise, as calculated by Bloomberg Financial LP under the function “VWAP” or any successor page or function, and (b) the closing price of the Class A Common Stock on the New York Stock Exchange on the date the Company delivers the Redemption Notice (such greater amount, the “Redemption Share Price”). Any such election will not be for less than all of the Warrant Shares to be issued in connection with such Notice of Exercise. Such cash payment to Holder will be made by wire transfer of immediately available funds to the account(s) provided by Holder, no later than ten Business Days following the delivery of the Redemption Notice.
Company Redemption Right. Notwithstanding, the Company may elect to redeem the Series D Preferred shares any time after the Closing at a price equal to Purchase Price plus all accrued but unpaid dividends subject to the Purchaser(s) right to convert by providing the Purchaser’s written notice about its intent to redeem whereby the Purchaser(s) shall have the right to convert per the terms of the conversion terms at least ten (10) days prior to such redemption by the Company.
Company Redemption Right. Commencing twenty four (24) months from the date hereof, if the shares of common stock of the Company , as quoted on the primary market on which the Company's common stock is traded or quoted, trade at a price which on close equals or exceeds two hundred fifty percent or more of the initial Exercise Price for each of twenty consecutive trading days at an average daily trading volume of at least 50,000 shares (these conditions being the "Redemption Trigger") then the Company may within five (5) days of the Redemption Trigger give written notice to the Holder or Holders of this Warrant that the Company intends to redeem the Warrant at the end of not less than ten (10) trading days after written notice is delivered at a price per Warrant Share of $0.02. Holder's right to exercise this Warrant in whole or in part shall not in any respect be impaired during this ten day trading period. Notwithstanding the foregoing, the Company's redemption right as herein set forth may not be exercised for twenty four (24) months following the date of this Warrant.
Company Redemption Right. If, at any time after the Initial Exercise Date (i) the closing price of Company’s Common Stock for each of 20 consecutive Trading Days exceeds 250% of the Exercise Price, and (ii) the daily trading volume for each Trading Day during such 20-day period exceeds $200,000 (calculated by multiplying the reported volume for each such day on the principal Trading Market times such closing prices), the Company may redeem all or a portion of the Warrants on 30 days prior written notice to the Holder and shall pay the Holder $0.01 per Warrant redeemed, subject to prior exercise.
Company Redemption Right. In connection with a request by a Majority of the holders of Registrable Securities for registration of Registrable Securities pursuant to Section 8.2 or 8.4, the Company may, at its option, in lieu of effecting such registration, redeem for cash all, but not less than all, of the Warrant Shares then outstanding and held by the requesting holders of Registrable Securities, out of funds legally available therefor by paying the Redemption Price. As used herein, the term "Redemption Price" shall mean an amount equal to the sum of (A) an amount derived by multiplying: (i) the number of Warrant Shares or Other Securities subject to this Warrant at such time by (ii) the difference of (a) the Fair Market Value on the date such registration was requested, less (b) the Exercise Price then in effect on the date such registration was requested. The Company may validly exercise its redemption right set forth in this Section 8.3 only by providing written notice thereof to such holders within five (5) business days of the Company's receipt of holders' written request for registration and, if such right is validly exercised, the Company shall pay the aggregate Redemption Price by check or wire transfer of immediately available funds within fifteen (15) days of the exercise of its redemption right.
Company Redemption Right. 22 Section 12.7
