Early Redemption. The Company at its option shall have the right, but not the obligation, to redeem (“Optional Redemption”) early a portion or all amounts outstanding under this Debenture in cash at the Redemption Amount (as defined below) as described in this Section; provided that (i) the Company provides the Holder with at least 10 Trading Days’ prior written notice (each, a “Redemption Notice”) of its desire to exercise an Optional Redemption, and (ii) on the date the Redemption Notice is issued, the trading price of the Common Stock is less than the Fixed Conversion Price. Each Redemption Notice shall be irrevocable and shall specify the outstanding balance of the Debentures to be redeemed and the applicable Redemption Premium. The “Redemption Amount” shall be an amount equal to the outstanding Principal balance being redeemed by the Company, plus a redemption premium equal to 5% in respect of such Principal amount, plus all accrued and unpaid interest hereunder as of such redemption date. After receipt of the Redemption Notice, the Holder shall have 10 Business Days to elect to convert all or any portion of the outstanding Principal of the Debenture plus all accrued and unpaid Interest. On the 11th Business Day after the Redemption Notice, the Company shall deliver to the Holder the Redemption Amount with respect to the Principal amount redeemed after giving effect to conversions effected during the applicable notice period.
Appears in 3 contracts
Samples: Securities Purchase Agreement (Canoo Inc.), Securities Purchase Agreement (Canoo Inc.), Securities Purchase Agreement (Canoo Inc.)
Early Redemption. The Company at its option shall have the right, but not the obligation, to redeem (“Optional Redemption”) early a portion or all amounts outstanding under this Debenture in cash at the Redemption Amount (as defined below) as described in this Section; provided that (i) the trading price of the Common Stock is less than the Fixed Conversion Price and (ii) the Company provides the Holder with at least 10 Trading 5 Business Days’ prior written notice (each, a “Redemption Notice”) of its desire to exercise an Optional Redemption, and (ii) on the date the Redemption Notice is issued, the trading price of the Common Stock is less than the Fixed Conversion Price. Each Redemption Notice shall be irrevocable and shall specify the outstanding balance of the Convertible Debentures to be redeemed and the applicable Redemption Premium. The “Redemption Amount” shall be an amount equal to the outstanding Principal balance being redeemed by the Company, plus a redemption premium equal to 5% in respect of such Principal amountthe applicable Redemption Premium, plus all accrued and unpaid interest hereunder as of such redemption dateinterest. After receipt of the Redemption Notice, the Holder shall have 10 5 Business Days to elect to convert all or any portion of the outstanding Principal of the Debenture plus all accrued and unpaid InterestConvertible Debentures. On the 11th 6th Business Day after the Redemption Notice, the Company shall deliver to the Holder the Redemption Amount with respect to the Principal amount redeemed after giving effect to conversions effected during the applicable notice 5 Business Day period.
Appears in 3 contracts
Samples: China Xiangtai Food Co., Ltd., China Xiangtai Food Co., Ltd., China Xiangtai Food Co., Ltd.
Early Redemption. The Company at its option shall have the right, but not the obligation, to redeem (“Optional Redemption”) early a portion or all amounts outstanding under this Debenture in cash at the Redemption Amount (as defined below) as described in this Section; provided that (i) the VWAP of the Common Stock is less than the Fixed Conversion Price on the Trading Day immediately preceding the date of the Redemption Notice and (ii) the Company provides the Holder with at least 10 Trading Business Days’ prior written notice (each, a “Redemption Notice”) of its desire to exercise an Optional Redemption, and (ii) on the date the Redemption Notice is issued, the trading price of the Common Stock is less than the Fixed Conversion Price. Each Redemption Notice shall be irrevocable and shall specify the outstanding balance of the Convertible Debentures to be redeemed and the applicable Redemption Premium. The “Redemption Amount” shall be an amount equal to the outstanding Principal balance being redeemed by the Company, plus a redemption premium equal to 5% in respect of such Principal amountthe applicable Redemption Premium, plus all accrued and unpaid interest hereunder as of such redemption dateinterest. After receipt of the Redemption Notice, the Holder shall have 10 Business Days to elect to convert all or any portion of the outstanding Principal of the Debenture plus all accrued and unpaid InterestConvertible Debentures. On the 11th Business Day after the Redemption Notice, the Company shall deliver to the Holder the Redemption Amount with respect to the Principal amount redeemed after giving effect to conversions effected during the applicable notice 10 Business Day period.
Appears in 2 contracts
Samples: Convertible Debenture (Rubicon Technologies, Inc.), Convertible Debenture (Rubicon Technologies, Inc.)
Early Redemption. The Company at its option shall have the right, but not the obligation, to redeem (“Optional Redemption”) early a portion or all amounts outstanding under this Debenture in cash at the Redemption Amount (as defined below) as described in this Section; provided that (i) the Company provides the Holder with at least 10 Trading 3 Business Days’ prior written notice (each, a “Redemption Notice”) of its desire to exercise an Optional Redemption, and (ii) on the date the Redemption Notice is issued, the trading price of the Common Stock is less than the Fixed Conversion Price. Each Redemption Notice shall be irrevocable and shall specify the outstanding balance of the Debentures to be redeemed and the applicable Redemption Premium. The “Redemption Amount” shall be an amount equal to the outstanding Principal balance being redeemed by the Company, plus a redemption premium equal to 5% in respect of such Principal amountthe Redemption Premium, plus all accrued and unpaid interest Interest hereunder as of such redemption date. After receipt of the Redemption Notice, the Holder shall have 10 3 Business Days to elect to convert all or any portion of the outstanding Principal of the Debenture Convertible Debentures plus all accrued and unpaid Interest. On the 11th 4th Business Day after the Redemption Notice, the Company shall deliver to the Holder the Redemption Amount with respect to the Principal amount redeemed after giving effect to conversions effected during the applicable notice period.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Niocorp Developments LTD), Securities Purchase Agreement (Niocorp Developments LTD)
Early Redemption. The Company at its option shall have the right, but not the obligation, to redeem (“Optional Redemption”) early a portion or all amounts outstanding under this Debenture in cash at the Redemption Amount (as defined below) as described in this Section; provided that (i) the trading price of the Ordinary Shares is less than the Fixed Conversion Price and (ii) the Company provides the Holder with at least 10 Trading five (5) Business Days’ prior written notice (each, a “Redemption Notice”) of its desire to exercise an Optional Redemption, and (ii) on the date the Redemption Notice is issued, the trading price of the Common Stock is less than the Fixed Conversion Price. Each Redemption Notice shall be irrevocable and shall specify the outstanding balance of the Convertible Debentures to be redeemed and the applicable Redemption Premium. The “Redemption Amount” shall be an amount equal to the outstanding Principal balance being redeemed by the Company, plus a redemption premium equal to 5% in respect of such Principal amountthe applicable Redemption Premium, plus all accrued and unpaid interest hereunder as of such redemption dateinterest. After receipt of the Redemption Notice, the Holder shall have 10 5 Business Days to elect to convert all or any portion of the outstanding Principal of the Debenture plus all accrued and unpaid InterestDebenture. On the 11th 6th Business Day after the Redemption Notice, the Company shall deliver to the Holder the Redemption Amount with respect to the Principal amount redeemed after giving effect to conversions effected during the applicable notice 5 Business Day period.
Appears in 1 contract
Samples: Sono Group N.V.
Early Redemption. The Company at its option shall have the right, but not the obligation, to redeem (“Optional Redemption”) early a portion or all amounts outstanding under this Debenture in cash at the Redemption Amount (as defined below) as described in this Section; provided that (i) the Company provides the Holder with at least 10 Trading 5 Business Days’ prior written notice (each, a “Redemption Notice”) of its desire to exercise an Optional Redemption, and (ii) on the date the Redemption Notice is issued, the trading price of the Common Stock is less than the Fixed Conversion Price. Each Redemption Notice shall be irrevocable and shall specify the outstanding balance of the Convertible Debentures to be redeemed and the applicable Redemption Premium. The “Redemption Amount” shall be an amount equal to the outstanding Principal balance being redeemed by the Company, plus a redemption premium equal to 5% in respect of such Principal amountthe applicable Redemption Premium, plus all accrued and unpaid interest hereunder as of such redemption dateinterest. After receipt of the Redemption Notice, the Holder shall have 10 5 Business Days to elect to convert all or any portion of the outstanding Principal of the Debenture plus all accrued and unpaid InterestConvertible Debentures. On the 11th 6th Business Day after the Redemption Notice, the Company shall deliver to the Holder the Redemption Amount with respect to the Principal amount redeemed after giving effect to conversions effected during the applicable notice 5 Business Day period.
Appears in 1 contract
Samples: Letter Agreement (Citibank,N.A./ADR)
Early Redemption. The Company at its option shall have the right, but not the obligation, to redeem (“Optional Redemption”) early a portion or all amounts outstanding under this Debenture in cash at the Redemption Amount (as defined below) as described in this Section; provided that (i) the Company provides the Holder with at least 10 Trading 5 Business Days’ prior written notice (each, a “Redemption Notice”) of its desire to exercise an Optional Redemption, and (ii) on the date the Redemption Notice is issued, the trading current stock price of the Common Stock on the NYSE American (as reported by Bloomberg LP) at the time of the delivery of the Redemption Notice is less than the Fixed Conversion Price. Each Redemption Notice shall be irrevocable and shall specify the outstanding balance of the Convertible Debentures to be redeemed and the applicable Redemption PremiumAmount. The “Redemption Amount” shall be an amount equal to the outstanding Principal balance being redeemed by the Company, plus a redemption premium equal to 5% in respect of such Principal amountthe applicable Redemption Premium, plus all accrued and unpaid interest hereunder as of such redemption dateinterest, if any. After receipt of the Redemption Notice, the Holder shall have 10 5 Business Days to elect to convert all or any portion of Convertible Debentures subject to the outstanding Principal of the Debenture plus all accrued and unpaid Interestlimitations set forth in Section 3(c). On the 11th 6th Business Day after the Redemption Notice, the Company shall deliver to the Holder the Redemption Amount with respect to the Principal amount redeemed after giving effect to conversions effected during the applicable notice 5 Business Day period.
Appears in 1 contract
Samples: Securities Purchase Agreement (Tanzanian Gold Corp)
Early Redemption. The Company Upon the occurrence of a Redemption Event, a Holder may, at its option shall have the right, but not the obligation, exercised by delivery of written notice to redeem (“Optional Redemption”) early a portion or all amounts outstanding under this Debenture in cash at the Redemption Amount (as defined below) as described in this Section; provided that (i) the Company provides within thirty (30) days of written notification from the Holder with at least 10 Trading Days’ prior written notice Company of such Redemption Event (each, a “Redemption Notice”), elect to terminate its Warrant Certificate (in whole and not in part) and demand a redemption of the then unexercised portion of such Holder’s Warrants (an “Early Redemption”). Upon any such Holder’s election to cause an Early Redemption the Company shall be obligated to pay to such Holder, in full satisfaction of the Company’s obligations hereunder, such Holder’s pro rata share of the Redemption Amount (determined on the basis of such Holder’s pro rata share of all Warrants originally issued hereunder); provided that, to the extent such Holder has timely exercised any of its desire Warrants in part (and not in whole) prior to its exercise an Optional of its Early Redemption election, the Redemption Amount payable to such Holder shall be prorated to reflect the proportionate share of such Holder’s Warrants that remain unexercised. The Redemption Amount shall be payable in cash, by wire transfer of immediately available funds to the account of the Holder electing such Early Redemption, and within ten (ii10) on Business Days following the date of delivery of the Redemption Notice is issued, the trading price of the Common Stock is less than the Fixed Conversion Price. Each Redemption Notice shall be irrevocable and shall specify the outstanding balance of the Debentures to be redeemed and the applicable Redemption Premium. The “Redemption Amount” shall be an amount equal to the outstanding Principal balance being redeemed by the Company, plus a redemption premium equal to 5% in respect of such Principal amount, plus all accrued and unpaid interest hereunder as of such redemption dateHolder. After receipt of To the Redemption Notice, the Holder shall have 10 Business Days to elect to convert all or any portion of the outstanding Principal of the Debenture plus all accrued and unpaid Interest. On the 11th Business Day after the Redemption Notice, the Company shall deliver to the Holder extent the Redemption Amount with respect to is not paid in full when due, the Principal amount redeemed after giving effect to conversions effected during the applicable notice periodunpaid portion thereof shall accrue interest at a rate of 11.75% per annum until paid in full.
Appears in 1 contract
Early Redemption. The Company at its option shall have the right, but not the obligation, to redeem (“Optional Redemption”) early a portion or all amounts outstanding under this Debenture in cash at the Redemption Amount (as defined below) as described in this Section; provided that (i) the Company provides the Holder with at least 10 Trading 5 Business Days’ prior written notice (each, a “Redemption Notice”) of its desire to exercise an Optional Redemption, and (ii) on the date the Redemption Notice is issued, the trading price of the Common Stock is less than the Fixed Conversion Price. Each Redemption Notice shall be irrevocable and shall specify the outstanding balance of the Convertible Debentures to be redeemed and the applicable Redemption Premiumredeemed. The “Redemption Amount” shall be an amount equal to the outstanding Principal balance being redeemed by the Company, plus a redemption premium equal to 5% in respect of such Principal amount, plus all accrued and unpaid interest hereunder as of such redemption dateinterest. After receipt of the Redemption Notice, the Holder shall have 10 5 Business Days to elect to convert all or any portion of the outstanding Principal of the Debenture plus all accrued and unpaid InterestConvertible Debentures. On the 11th 6th Business Day after the Redemption Notice, the Company shall deliver to the Holder the Redemption Amount with respect to the Principal amount redeemed after giving effect to conversions effected during the applicable notice 5 Business Day period. 1 Insert date 12 months from the issuance date of each Debenture.
Appears in 1 contract
Samples: ZK International Group Co., Ltd.
Early Redemption. The Company at its option shall have the right, but not the obligation, to redeem (“Optional Redemption”) early a portion or all amounts outstanding under this Debenture in cash at the Redemption Amount (as defined below) as described in this Section; provided that (i) the trading price of the ADSs is less than the Fixed Conversion Price and (ii) the Company provides the Holder with at least 10 Trading Business Days’ prior written notice (each, a “Redemption Notice”) of its desire to exercise an Optional Redemption, and (ii) on the date the Redemption Notice is issued, the trading price of the Common Stock is less than the Fixed Conversion Price. Each Redemption Notice shall be irrevocable and shall specify the outstanding balance of the Convertible Debentures to be redeemed and the applicable Redemption Premium. The “Redemption Amount” shall be an amount equal to the outstanding Principal balance being redeemed by the Company, plus a redemption premium equal to 5% in respect of such Principal amountthe applicable Redemption Premium, plus all accrued and unpaid interest hereunder as of such redemption dateinterest. After receipt of the Redemption Notice, the Holder shall have 10 Business Days to elect to convert all or any portion of the outstanding Principal of the Debenture plus all accrued and unpaid InterestConvertible Debentures. On the 11th Business Day after the Redemption Notice, the Company shall deliver to the Holder the Redemption Amount with respect to the Principal amount redeemed after giving effect to conversions effected during the applicable notice 10 Business Day period.
Appears in 1 contract
Samples: Securities Purchase Agreement (Molecular Data Inc.)