Initial Redemption. Within ten (10) Business Days after the Closing Date, Funding Corp. shall redeem $11,592,020(1) principal amount of the Notes at a redemption price equal to 100% of the principal amount thereof. Such principal amount shall be applied to the Outstanding Notes on a pro rata basis and shall not affect the amount of any subsequent monthly installment payment due under this Indenture or the Notes.
Initial Redemption. Following the Issuance Date, by delivery of a written notice (the “Initial Optional Redemption Notice”) to the Company at least 5 Trading Days in advance of December 29, 2006 (the “Initial Optional Redemption Date”), the Holder may elect to have the Company redeem up to 20% of the outstanding Principal of this Note for an amount equal to the amount of Principal to be redeemed plus any accrued and unpaid Interest thereon and any accrued and unpaid Late Charges on such Principal and Interest (the “Initial Optional Redemption Price”). The Initial Optional Redemption Price shall be paid to the Holder in cash on the Initial Option Redemption Date. Notwithstanding anything to the contrary in this Section 8(a), until the Initial Optional Redemption Price is paid, in full, the portion of the Principal of this Note to be redeemed may be converted, in whole or in part, by the Holder into shares of Common Stock pursuant to Section 3. All Principal converted by the Holder after the date of the Initial Optional Redemption Notice shall reduce the Principal of this Note required to be redeemed on the Initial Optional Redemption Date.
Initial Redemption. For a period of sixty (60) days following the ------------------ Effective Date and the compliance with any applicable securities laws (i) Management Investors who are not, as of the effective date, executive officers of the Company shall have the right to sell to the Company up to one hundred percent (100%) of the Voting Shares owned by such Management Investors at a price per share equal to $17, and (ii) Management Investors who are, as of the effective date, executive officers of the Company and Xxxxxxx X. Xxxxxxx shall have the right to sell to the Company up to twenty-five percent (25%) of the Voting Shares owned by such Management Investors or Xxxxxxx X. Xxxxxxx at a price per share equal to $17. To the extent that total redemptions pursuant to this Section 8 exceed $15 million, $15 million of redemptions shall be made on a pro-rata basis in 1997, and all, to the extent permitted by law and any agreements to which the Company or any of its Subsidiaries are a party, remaining redemptions shall be made on a pro rata basis in two (2) equal annual installments on the anniversary date of the Effective Date.
Initial Redemption. The Company shall effect such transactions as reasonably required to give effect to the Redemption Agreement, which is hereby approved and adopted by the Members and the Managers.
Initial Redemption. The Debentures shall be redeemable at the option of the Corporation (in the manner hereinafter provided and in accordance with and subject to the provisions hereinafter set forth), either in whole or in part, by the payment of money or by the issuance of Freely Tradeable Shares as provided in Section 4.6 after October 31, 2024, but prior to October 31, 2025, provided that the Current Market Price of the Shares on the date that the notice of redemption is given is greater than 125% of the Conversion Price then in effect, upon payment of the Redemption Price. On and after October 31, 2025 but prior to the Maturity Date, the Debentures shall be redeemable at the sole option of the Corporation upon payment of 100% of the Redemption Price. The redemption of the Debentures by the Corporation is subject to the provision that a Holder may, upon receipt of the notice provided for in Section 4.3 and at any time up to the Business Day immediately preceding the date specified by the Corporation for the redemption of the Debentures, elect to convert Debentures into Shares at the applicable Conversion Price effective on the Business Day immediately preceding the date specified by the Corporation for the redemption of the Debentures. Notwithstanding anything else in this Article 4, an amount of $8,625,000 of the initial $17,250,000 aggregate principal amount of Debentures shall be redeemed by the Corporation for Freely Tradeable Shares to the Debentureholders of record as of May 3, 2024 at a price equal to $0.12234 per Share, on a pro rata basis, without any notice required to holders of Debentures, and with a redemption date on or around May 6, 2024, 2024, (the “Initial Redemption”). The Initial Redemption is conditional on the receipt of all necessary regulatory approvals, including the conditional approval of the Exchange. The Corporation shall otherwise comply with the requirements of this Article 4 with respect to the Initial Redemption. The redemption of any Debentures into Shares in accordance with this section 4.1 shall be subject to the review and acceptance of the Exchange, in accordance with the policies of the Exchange, including the pricing requirements set out in Policy 4.3 – Shares for Debt, at the time of the application.”
