Partial Redemption Limitation Clause Samples
The Partial Redemption Limitation clause restricts the ability of a party to redeem only a portion of their holdings or interests under an agreement. Typically, this clause sets minimum thresholds or specific conditions that must be met before a partial redemption is allowed, such as requiring redemptions to be above a certain dollar amount or only permitting them at designated times. Its core practical function is to prevent administrative burdens and potential liquidity issues that could arise from frequent or small-scale redemptions, thereby ensuring smoother operation and predictability for the parties involved.
Partial Redemption Limitation. If the Company elects to redeem less than all of the outstanding Notes pursuant to this Section 4.03, then the excess of the principal amount of Notes outstanding as of the time the Company sends the related Redemption Notice over the aggregate principal amount of Notes set forth in such Redemption Notice as being subject to Redemption must be at least one hundred million dollars ($100,000,000) (such requirement, the “Partial Redemption Limitation”).
Partial Redemption Limitation. If the Company elects to redeem fewer than all of the outstanding Notes pursuant to this Section 4.03, at least one hundred million dollars ($100,000,000) aggregate principal amount of Notes must be outstanding and not subject to Redemption as of the time the Company sends the relevant Redemption Notice The Trustee shall have no obligation to make any determination in connection with the foregoing.