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), at any time after the 6-month anniversary of the Closing Date, 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 20th Trading Day following the Optional Redemption Notice Date (such date, the “Optional Redemption Date”, such 20 Trading Day period, the “Optional Redemption Period” and such redemption, the “Optional Redemption”). The Optional Redemption Amount is payable in full on the Optional Redemption Date.

Appears in 1 contract

Samples: Security Agreement (Digital Angel Corp)

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Optional Redemption at Election of Company. Subject to the provisions of this Section 6(a)Section, at any time after twelve months after the 6-month anniversary of the Closing Original Issue Date, 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 Impact Note for cash in an amount equal to the Optional Redemption Amount on the 20th Trading 10th Business Day following the Optional Redemption Notice Date (such date, the “Optional Redemption Date”, such 20 Trading 10th Business Day period, the “Optional Redemption Period” and such redemption, the “Optional Redemption”). The Optional Redemption Amount is payable in full on the Optional Redemption Date.

Appears in 1 contract

Samples: Impact Note Purchase Agreement

Optional Redemption at Election of Company. Subject to the provisions of this Section 6(a)8, at any time after the 6-month anniversary of the Closing DateMarch 30, 2022, the Company may deliver a notice to the Holder Holders (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 Preferred Shares, for cash in an amount equal to the Optional Redemption Amount on the 20th Trading Day following the Optional Redemption Notice Date (such date, the “Optional Redemption Date”, such 20 Trading Day period, the “Optional Redemption Period” and such redemption, the “Optional Redemption”). The Optional Redemption Amount is payable in full on the Optional Redemption Date. The Company covenants and agrees that it will honor all Notices of Conversion tendered from the time of delivery of the Optional Redemption Notice through the date the Optional Redemption Amount is paid in full.

Appears in 1 contract

Samples: Securities Purchase Agreement (Renren Inc.)

Optional Redemption at Election of Company. Subject to the provisions of this Section 6(a)Section, at any time after twelve months after the 6-month anniversary of the Closing Original Issue Date, the Company may deliver a notice to the Holder an optional redemption notice (an the “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 and accrued interest amount of this Debenture Impact Note for cash in an amount equal to the Optional Redemption Amount on the 20th Trading 10th Business Day following the Optional Redemption Notice Date (such date, the “Optional Redemption Date”, such 20 Trading 10th Business Day period, the “Optional Redemption Period” and such redemption, the “Optional Redemption”). The Optional Redemption Amount is payable in full on the Optional Redemption Date.

Appears in 1 contract

Samples: Impact Note Purchase Agreement

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Optional Redemption at Election of Company. Subject to the provisions of this Section 6(a), at any time after Six (6) months after the 6-month anniversary of the Closing Original Issue Date, 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 and/or accrued interest of this Debenture Note for cash in an amount equal to the Optional Redemption Amount on the 20th Trading 10th Business Day following the Optional Redemption Notice Date (such date, the “Optional Redemption Date”, such 20 Trading 10th Business Day period, the “Optional Redemption Period” and such redemption, the “Optional Redemption”). The Optional Redemption Amount is payable in full on the Optional Redemption Date.

Appears in 1 contract

Samples: Securities Purchase Agreement (American Resources Corp)

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