Common use of Insufficient Legally Available Funds Clause in Contracts

Insufficient Legally Available Funds. If, on the date on which the Change of Control Sale is otherwise to occur in accordance with this Section 8, the Corporation does not have sufficient legally available funds to purchase all shares of Preferred Stock surrendered in connection with such Change of Control Sale in accordance with this Section 8, then (i) the Corporation shall purchase the maximum number of shares of Preferred Stock that may be purchased, on a pro rata basis, with such legally available funds and (ii) except to the extent a Holder withdraws its exercise of the Change of Control Sale option with respect to unpurchased shares, shall purchase any remaining shares, on a pro rata basis, as soon as it has any additional legally available funds. Notwithstanding the foregoing, if the Corporation does not have legally available funds that are available to purchase all shares of Preferred Stock that Holders have elected to be purchased, or otherwise fails to comply with any provisions of Section 8, the price per share for any share of Preferred Stock purchased pursuant to clause (ii) above after the date on which the Change of Control Sale is otherwise to occur in accordance with this Section 8 (disregarding this Section 8(f)) shall be increased by the amount of any Accrued Dividends accruing between the date on which the Change of Control Sale is otherwise to occur and the date of such purchase.

Insufficient Legally Available Funds. If, If on the date on which the Change of Control Sale is otherwise to occur in accordance with this Section 810(f), the Corporation Company does not have sufficient legally available funds to purchase all shares of Series A-1 Preferred Stock surrendered in connection with such Change of Control Sale in accordance with this Section 810(f), then (i) the Corporation Company shall purchase the maximum number of shares of Series A-1 Preferred Stock that may be purchasedpurchased with such legally available funds, on a pro rata basisbasis (including with respect to any shares of Series A-2 Preferred Stock so surrendered) and, with such legally available funds and (ii) except to the extent a Holder holder withdraws its exercise of the Change of Control Sale option with respect to unpurchased shares, shall purchase redeem any remaining shares, on a pro rata basis, shares as soon as it has any additional legally available funds. Notwithstanding the foregoing, if the Corporation Company does not have legally available funds that are available to purchase all shares of Series A-1 Preferred Stock that Holders holders have elected to be purchased, or otherwise fails to comply with any provisions of this Section 810(f), the Dividend Rate shall increase one percent (1%) per annum (0.25% per quarter) for each Dividend Period that commences after the then-current Dividend Period with respect to any shares of Series A-1 Preferred Stock that remain outstanding, and the applicable Change of Control Sale price per share for any share of Series A-1 Preferred Stock purchased pursuant to clause (ii) above after redeemed thereafter shall reflect such greater accrual of dividends through the date on which the Company pays the applicable Change of Control Sale is otherwise to occur in accordance price with this Section 8 (disregarding this Section 8(f)) shall be increased by the amount of any Accrued Dividends accruing between the date on which the Change of Control Sale is otherwise to occur and the date of such purchaserespect thereto.