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 Note for cash in an amount equal to the then outstanding principal amount of the Note on the 5th Trading Day following the Optional Redemption Notice Date (such date, the “Optional Redemption Date”, such five Trading Day period, the “Optional Redemption Period” and such redemption, the “Optional Redemption”).

Appears in 2 contracts

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

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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 Note for cash in an amount equal to the then outstanding principal amount of the Note on the 5th Trading Day following the Optional Redemption Notice Date (such date, the “Optional Redemption Date”, such five Trading Day period, the “Optional Redemption Period” and such redemption, the “Optional Redemption”).

Appears in 1 contract

Samples: Convertible Security Agreement (Precipio, Inc.)

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Optional Redemption at Election of Company. Subject to the provisions of this Section 6(a)6, at any time after the Effective Date and prior to March 31, 2006, directly and solely out of the proceeds raised in the Secondary Offering, 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 Note Debentures in full for cash in an amount amount, equal to the then outstanding principal amount of the Note Optional Redemption Amount on the 5th 20th Trading Day following the Optional Redemption Notice Date (such date, the "Optional Redemption Date”, such five Trading Day period, the “Optional Redemption Period” " and such redemption, the “Optional Redemption”).,

Appears in 1 contract

Samples: Convertible Security Agreement (Velocity Asset Management Inc)

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