Common use of Optional Redemption at Election of Company Clause in Contracts

Optional Redemption at Election of Company. Subject to the provisions of this Section 6(a), the Company may deliver a notice to the Holder (an “Optional Redemption Notice” and the date such notice is deemed delivered hereunder, the “Optional Redemption Notice Date”) of its irrevocable election to redeem some or all of the then outstanding principal amount of this Debenture for cash in an amount equal to the Redemption Amount on the 10th Trading Day following the Optional Redemption Notice Date (such date, the “Optional Redemption Date”, such 10 Trading Day period, the “Optional Redemption Period” and such redemption, the “Optional Redemption”); provided that the Company may only provide notice of such redemption if the Equity Conditions are true and correct as of the date of the Notice.

Appears in 9 contracts

Samples: Convertible Security Agreement (World Moto, Inc.), Convertible Security Agreement (World Moto, Inc.), Convertible Security Agreement (World Moto, Inc.)

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Optional Redemption at Election of Company. Subject to the provisions of this Section 6(a), the Company may deliver a notice to the Holder (an “Optional Redemption Notice” and the date such notice is deemed delivered hereunder, the “Optional Redemption Notice Date”) of its irrevocable election to redeem some or all of the then outstanding principal amount of this Debenture Note for cash in an amount equal to the Redemption Amount on the 10th 5th Trading Day following the Optional Redemption Notice Date (such date, the “Optional Redemption Date”, such 10 five Trading Day period, the “Optional Redemption Period” and such redemption, the “Optional Redemption”); provided that the Company may only provide notice of such redemption if the Equity Conditions are true and correct as of the date of the Notice.

Appears in 4 contracts

Samples: Convertible Security Agreement (Precipio, Inc.), Convertible Security Agreement (Precipio, Inc.), Convertible Security Agreement (Precipio, Inc.)

Optional Redemption at Election of Company. Subject to the provisions of this Section 6(a), at any time the Company may deliver a notice to the Holder (an “Optional Redemption Notice” and the date such notice is deemed delivered hereunder, the “Optional Redemption Notice Date”) of its irrevocable election to redeem some or all of the then outstanding principal amount of this Debenture for cash in an amount equal to the Optional Redemption Amount on the 10th Trading Day following the Optional Redemption Notice Date (such date, the “Optional Redemption Date”, such 10 Trading Day period, the “Optional Redemption Period” and such redemption, the “Optional Redemption”); provided that the Company may only provide notice of such redemption if the Equity Conditions are true and correct as of the date of the Notice.

Appears in 2 contracts

Samples: Convertible Security Agreement (NewLead Holdings Ltd.), Convertible Security Agreement (Innovus Pharmaceuticals, Inc.)

Optional Redemption at Election of Company. Subject to the provisions of this Section 6(a), the Company may deliver a notice to the Holder (an “Optional Redemption Notice” and the date such notice is deemed delivered hereunder, the “Optional Redemption Notice Date”) of its irrevocable election to redeem some or all of the then outstanding principal amount of this Debenture Note for cash in an amount equal to the Redemption Amount on the 10th Trading Day following the Optional Redemption Notice Date (such date, the “Optional Redemption Date”, such 10 Trading Day period, the “Optional Redemption Period” and such redemption, the “Optional Redemption”); provided that the Company may only provide notice of such redemption if the Equity Conditions are true and correct as of the date of the Notice.

Appears in 2 contracts

Samples: Convertible Security Agreement (Intercloud Systems, Inc.), Convertible Security Agreement (Intercloud Systems, Inc.)

Optional Redemption at Election of Company. Subject to the provisions of this Section 6(a), at any time when the Equity Conditions are satisfied, the Company may deliver a notice to the Holder (an “Optional Redemption Notice” and the date such notice is deemed delivered hereunder, the “Optional Redemption Notice Date”) of its irrevocable election to redeem some or all of the then outstanding principal amount of this Debenture for cash in an amount equal to the Redemption Amount on the 10th Trading Day following the Optional Redemption Notice Date (such date, the “Optional Redemption Date”, such 10 Trading Day period, the “Optional Redemption Period” and such redemption, the “Optional Redemption”); provided that the Company may only provide notice of such redemption if the Equity Conditions are true and correct as of the date of the Notice.

Appears in 1 contract

Samples: Convertible Security Agreement (DraftDay Fantasy Sports, Inc.)

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Optional Redemption at Election of Company. Subject to the provisions of this Section 6(a)) and subject to Hxxxxx’s approval, at any time the Company may deliver a notice to the Holder (an “Optional Redemption Notice” and the date such notice is deemed delivered hereunder, the “Optional Redemption Notice Date”) of its irrevocable election to redeem some or all of the then outstanding principal amount of this Debenture Note for cash in an amount equal to the Optional Redemption Amount on the 10th Trading Day following the Optional Redemption Notice Date (such date, the “Optional Redemption Date”, ,” such 10 ten (10) Trading Day period, the “Optional Redemption Period” and such redemption, the “Optional Redemption”); provided that the Company may only provide notice of such redemption if the Equity Conditions are true and correct as of the date of the Notice.

Appears in 1 contract

Samples: Convertible Security Agreement (Imaging3 Inc)

Optional Redemption at Election of Company. Subject to the provisions of this Section 6(a), the Company may deliver at any time a notice to the Holder (an “Optional Redemption Notice” and the date such notice is deemed delivered hereunder, the “Optional Redemption Notice Date”) of its irrevocable election to redeem some any part or all of the then outstanding principal amount of this Debenture for cash in an amount equal to the Optional Redemption Amount on the 10th Trading 20th Business Day following the Optional Redemption Notice Date (such date, the “Optional Redemption Date”, such 10 Trading 20 Business Day period, the “Optional Redemption Period” and such redemption, the “Optional Redemption”); provided that the Company may only provide notice of such redemption if the Equity Conditions are true and correct as of the date of the Notice.

Appears in 1 contract

Samples: Subscription Agreement (Trunity Holdings, Inc.)

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