Common use of Insufficient Redemption Proceeds Clause in Contracts

Insufficient Redemption Proceeds. In the event that, in connection with any redemption obligation pursuant to this Section 6, on any Redemption Date the Corporation is unable to satisfy in full (i) its obligations with respect to all shares of Series B required to be redeemed pursuant to this Section 6 on such Redemption Date, and (ii) the corresponding redemption obligations with respect to all shares of other classes or series of Parity Stock required to be redeemed on such Redemption Date pursuant to the terms thereof, then, in each such case, on such Redemption Date, the Corporation shall redeem only such number of shares of Series B and such number of shares of other classes or series of Parity Stock that legally may be redeemed on such date, to the fullest extent permitted by law, pro rata (as nearly as practical without creating fractional shares), and the holders of the Series B and each such other class or series of Parity Stock shall share ratably the proceeds available for redemption in proportion to the aggregate Redemption Price payable on the shares of Series B required to be redeemed on such Redemption Date pursuant to this Section 6 and the aggregate redemption price payable on the shares of Parity Stock required to be redeemed on such date pursuant to the terms of such Parity Stock. Thereafter, as soon as the Corporation is legally permitted to do so under applicable law, the Corporation shall redeem the Unredeemed Shares and the remaining unredeemed shares of such other classes or series of Parity Stock required to be redeemed, to the fullest extent permitted by law, pro rata (as nearly as practical without creating any fractional shares), calculated as set forth in the immediately preceding sentence, until the Corporation satisfies in full its redemption obligations with respect to all such Unredeemed Shares and such remaining shares of Parity Stock required to be redeemed. Unredeemed Shares shall continue to accrue dividends in accordance with the terms hereof up to but excluding the date on which the Corporation pays in full to the holders of such Unredeemed Shares in cash the Redemption Price (re-calculated as of such date).

Insufficient Redemption Proceeds. In the event that, in connection with any redemption obligation pursuant to this Section 6, on any Redemption Date the Corporation Partnership is unable to satisfy in full (i) its obligations with respect to all shares of Series B E Preferred Partnership Units required to be redeemed pursuant to this Section 6 on such Redemption Date, and (ii) the corresponding redemption obligations of the General Partner with respect to shares of Series E Preferred Stock and all shares of or other classes or series of Parity Stock required to be redeemed on such Redemption Date pursuant to the terms thereofthereof (which would in turn require the Partnership to redeem the Parity Units issued to the General Partner in connection with its issuance of Parity Stock), then, in each such case, on such Redemption Date, the Corporation Partnership shall redeem only such number of shares of Series B E Preferred Partnership Units and such number of shares units of other classes or series of Parity Stock Units that legally may be redeemed on such date, to the fullest extent permitted by law, pro rata (as nearly as practical without creating fractional sharesunits), and the holders of the Series B E Preferred Partnership Units and each such other class or series of the Parity Stock Units shall share ratably the proceeds available for redemption in proportion to the aggregate Redemption Price payable on the shares of Series B required to be redeemed on such Redemption Date pursuant to this Section 6 and the aggregate redemption price payable on the shares of Parity Stock required to be redeemed on such date pursuant to the terms of such Parity Stocka Pro Rata Basis. Thereafter, as soon as the Corporation Partnership is legally permitted to do so under applicable law, the Corporation Partnership shall redeem the Unredeemed Shares Units (and the Partnership shall redeem the remaining unredeemed shares of such other classes or series of Parity Stock Units required to be redeemed), to the fullest extent permitted by law, pro rata (as nearly as practical without creating any fractional sharesunits), calculated as set forth in the immediately preceding sentence, until the Corporation satisfies Partnership and the General Partner satisfy in full its their respective redemption obligations with respect to all such Unredeemed Shares Units and such remaining Parity Units and shares of Parity Stock required to be redeemed. Unredeemed Shares shall continue to accrue dividends in accordance with the terms hereof up to but excluding the date on which the Corporation pays in full to the holders of such Unredeemed Shares in cash the Redemption Price (re-calculated as of such date).

Insufficient Redemption Proceeds. In the event that, in connection with any redemption obligation pursuant to this Section 6, on any Redemption Date the Corporation Partnership is unable to satisfy in full (i) its obligations with respect to all shares of Series B D Preferred Partnership Units required to be redeemed pursuant to this Section 6 on such Redemption Date, and (ii) the corresponding redemption obligations of the General Partner with respect to shares of Series D Preferred Stock and all shares of or other classes or series of Parity Stock required to be redeemed on such Redemption Date pursuant to the terms thereofthereof (which would in turn require the Partnership to redeem the Parity Units issued to the General Partner in connection with its issuance of Parity Stock), then, in each such case, on such Redemption Date, the Corporation Partnership shall redeem only such number of shares of Series B D Preferred Partnership Units and such number of shares units of other classes or series of Parity Stock Units that legally may be redeemed on such date, to the fullest extent permitted by law, pro rata (as nearly as practical without creating fractional sharesunits), and the holders of the Series B D Preferred Partnership Units and each such other class or series of the Parity Stock Units shall share ratably the proceeds available for redemption in proportion to the aggregate Redemption Price payable on the shares of Series B Parity Units required to be redeemed on such Redemption Date pursuant to this Section 6 and the aggregate redemption price payable on the shares of Parity Stock Series D Preferred Partnership Units required to be redeemed on such date pursuant to the terms of such Parity StockUnits. Thereafter, as soon as the Corporation Partnership is legally permitted to do so under applicable law, the Corporation Partnership shall redeem the Unredeemed Shares Units (and the Partnership shall redeem the remaining unredeemed shares of such other classes or series of Parity Stock Units required to be redeemed), to the fullest extent permitted by law, pro rata (as nearly as practical without creating any fractional sharesunits), calculated as set forth in the immediately preceding sentence, until the Corporation satisfies Partnership and the General Partner satisfy in full its their respective redemption obligations with respect to all such Unredeemed Shares Units and such remaining Parity Units and shares of Parity Stock required to be redeemed. Unredeemed Shares shall continue to accrue dividends in accordance with the terms hereof up to but excluding the date on which the Corporation pays in full to the holders of such Unredeemed Shares in cash the Redemption Price (re-calculated as of such date).