Common use of COMPANY'S RIGHT TO REDEEM AT ITS ELECTION Clause in Contracts

COMPANY'S RIGHT TO REDEEM AT ITS ELECTION. (a) At any time, the Company shall have the right, in its sole discretion, to redeem ("REDEMPTION AT COMPANY'S ELECTION"), from time to time, any or all of the Common Stock; provided (i) the Company shall first provide no more than seven (7) Trading Days and no less than one (1) Trading Day advance written notice as provided in subparagraph 10(a)(ii) below, and (ii) that the Company shall only be entitled to redeem Common Stock having an aggregate Stated Value (as defined above) of at least Five Hundred Thousand Dollars ($500,000). If the Company elects to redeem some, but not all, of the Common Stock, the Company shall redeem a pro-rata amount from each Holder of the Common Stock.