Common use of Optional Redemption Date Clause in Contracts

Optional Redemption Date. If, during the pendency of an Event of Default, the Majority Holders exercise the Optional Redemption Right in accordance with this Section 6(c), the date of redemption of the Series B (the “Optional Redemption Date”) shall be the date that is 30 days after the delivery of the Optional Redemption Notice by such Series B holders to the Corporation; provided, however, that, in the event of any Parity Optional Redemption Exercise occurring prior to the delivery of the Optional Redemption Notice by the Majority Holders to the Corporation, if the Majority Holders shall have delivered the Optional Redemption Notice no later than 10 days following delivery by the Corporation of the notice described in Section 6(c)(iii)(B) in respect of the earliest such Parity Optional Redemption Exercise, then the Optional Redemption Date shall be accelerated (but not deferred) to be the same as the date of redemption of the Parity Stock to which such Parity Optional Redemption Exercise relates; provided further, that, subject to the foregoing proviso, the Corporation, by written notice to the Majority Holders, may in its sole discretion elect to accelerate (but not to defer) the Optional Redemption Date to coincide with the redemption date relating to any Parity Optional Redemption Exercise.

Optional Redemption Date. If, during the pendency of following an Event of DefaultOptional Redemption Event, the Majority Holders iStar Representative and the BREDS Representative exercise the Optional Redemption Right in accordance with this Section 6(c6(e), the date of redemption of the Series B D Preferred Partnership Units (the “Optional Redemption Date”) shall be the date that is 30 days after the delivery of the Optional Redemption Notice by such Series B holders the iStar Representative and the BREDS Representative to the CorporationPartnership; provided, however, that, in the event of any Parity Optional Redemption Exercise occurring prior to the delivery of the Optional Redemption Notice by the Majority Holders Representatives to the CorporationPartnership, if the Majority Holders Representatives shall have delivered the Optional Redemption Notice no later than 10 days following delivery by the Corporation Partnership of the notice described in Section 6(c)(iii)(B6(e)(ii)(B) in respect of the earliest such Parity Optional Redemption Exercise, then the Optional Redemption Date shall be accelerated (but not deferred) to be the same as the date of redemption of the Parity Stock to which such Parity Optional Redemption Exercise relates; provided further, that, subject to the foregoing proviso, the CorporationPartnership, by written notice to the Majority HoldersRepresentatives, may in its sole discretion elect to accelerate (but not to defer) the Optional Redemption Date to coincide with the redemption date relating to any Parity Optional Redemption Exercise.

Optional Redemption Date. If, during the pendency of following an Event of DefaultOptional Redemption Event, the Majority Holders iStar Representative and the BREDS Representative exercise the Optional Redemption Right in accordance with this Section 6(c6(e), the date of redemption of the Series B E Preferred Partnership Units (the “Optional Redemption Date”) shall be the date that is 30 days after the delivery of the Optional Redemption Notice by such Series B holders the iStar Representative and the BREDS Representative to the CorporationPartnership; provided, however, that, in the event of any Parity Optional Redemption Exercise occurring prior to the delivery of the Optional Redemption Notice by the Majority Holders Representatives to the CorporationPartnership, if the Majority Holders Representatives shall have delivered the Optional Redemption Notice no later than 10 days following delivery by the Corporation Partnership of the notice described in Section 6(c)(iii)(B6(e)(ii)(B) in respect of the earliest such Parity Optional Redemption Exercise, then the Optional Redemption Date shall be accelerated (but not deferred) to be the same as the date of redemption of the Parity Stock to which such Parity Optional Redemption Exercise relates; provided further, that, subject to the foregoing proviso, the CorporationPartnership, by written notice to the Majority HoldersRepresentatives, may in its sole discretion elect to accelerate (but not to defer) the Optional Redemption Date to coincide with the redemption date relating to any Parity Optional Redemption Exercise.