Permitted Redemptions Clause Samples

The Permitted Redemptions clause defines the specific circumstances under which a company is allowed to repurchase or redeem its own shares from shareholders. Typically, this clause outlines the conditions, limits, and procedures for such redemptions, such as requiring board approval, restricting the timing, or capping the amount of shares that can be redeemed within a certain period. Its core practical function is to provide clear guidelines for share buybacks, ensuring that redemptions are conducted in a controlled manner and protecting the interests of both the company and its shareholders.
Permitted Redemptions. All actions taken by the Company in connection with all Permitted Redemptions through the Effective Date have been taken in accordance with all applicable Laws, including without limitation all applicable SEC regulations.
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Permitted Redemptions. All Permitted Redemptions will be completed in accordance with all applicable Laws, including without limitation all applicable SEC regulations.
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Permitted Redemptions. All Permitted Redemptions (including but not limited to the repurchase of shares owned by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) will be completed in accordance with all applicable Laws, including without limitation all applicable SEC regulations.
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Permitted Redemptions. The amount $15,000,000 in the definition of "Permitted Redemptions" in the Glossary attached to the Original Loan Agreement as Exhibit 2.1 is deleted and replaced with the amount "$20,000,000". Borrower may repurchase Treasury Stock using the proceeds of this Agreement, however the total amount to be paid for repurchase may not exceed $20,000,000, unless otherwise approved by the Required Lenders.
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Permitted Redemptions. (a) Upon the mailing of a notice of redemption with respect to the Permitted Redemption of the Subordinated Notes in accordance with the Subordinated Indenture and deposit of an amount equal to the Subordinated Note Redemption Price for the Subordinated Notes to be redeemed in the (b) Upon the mailing of a notice of redemption with respect to the Permitted Redemption of the Parent Discount Notes in accordance with the Parent Discount Indenture and deposit of an amount equal to the Parent Discount Note Redemption Price for the Parent Discount Notes to be redeemed in the Permitted Redemption of the Parent Discount Notes with the paying agent for the Parent Discount Notes on the Parent Discount Note Redemption Date, interest on such Parent Discount Notes will cease to accrue and the sole right of the holders of such Parent Discount Notes shall be to receive payment of the Parent Discount Note Redemption Price plus accrued interest on such Parent Discount Notes to the Parent Discount Note Redemption Date. The Parent Discount Note Redemption Price will not exceed 112.50% of the principal amount of the Parent Discount Notes to be redeemed in the Permitted Redemption of the Parent Discount Notes.
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Permitted Redemptions. The Borrower may, at its option, elect to redeem the Unsecured Note by paying the Lender and all other Holders the Permitted Redemption Amount, by wire transfer of same day immediately available funds. Upon payment of the Permitted Redemption Amount, the Borrower will have no further liability with respect to the payment of any Profit Share.
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Permitted Redemptions. It is contemplated that certain of the Pledged Shares will be redeemed from time to time by ▇▇▇▇▇ pursuant to a Redemption Agreement of even date between Pledgors and ▇▇▇▇▇ (the "Redemption Agreement"). So long as these redemptions are in compliance with the terms and restrictions of the Redemption Agreement including, without limitation, Section 6, Agent agrees, on reasonable prior notice, to release its Lien on such Pledged Shares in order to permit such redemptions and shall execute and deliver to the applicable Pledgor, at such Pledgor's expense, appropriate UCC-3 termination statements and other releases as reasonably requested by Pledgor.
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Related to Permitted Redemptions

  • In-kind redemptions The Acquiring Fund acknowledges and agrees that, if and to the extent consistent with the Acquired Fund’s registration statement, as amended from time to time, the Acquired Fund may, in its sole discretion, honor any redemption request partially or wholly in-kind in a manner consistent with Federated Hermes Funds’ Redemption-In-Kind Procedures.

  • Sales and Redemptions A provisional credit of an amount equal to the net sale price for a sale or redemption of securities or other financial assets shall be made to the account of the Portfolio as if the amount had been received as of the close of business on the date on which good funds would ordinarily be immediately available in the applicable market. The provisional credit will be made conditional upon the Custodian having received Proper Instructions with respect to, or reasonable notice of, the transaction, as applicable; and the Custodian or its agent having possession of the securities of other financial assets (excluding financial assets subject to any third party lending arrangement entered into by a Portfolio) associated with the transaction in good deliverable form and not being aware of any facts which would lead the Custodian or its agent to believe that the transaction will not settle in the time period ordinarily applicable to such transactions in the applicable market.

  • Distributions and Redemptions Maker shall not declare or pay any dividends or make any distributions of cash, property or securities of Maker with respect to any shares of its common stock, preferred stock or any other class or series of its stock, or, directly or indirectly (except for repurchases of common stock by Maker in accordance with the terms of employee benefit plans or written agreement between Maker and any of its employees approved by the Board of Directors of Maker prior to February 1, 2004), redeem, purchase, or otherwise acquire for any consideration any shares of its common stock or any other class of its stock.

  • Redemptions and Repurchases (a) The Trust shall purchase such Shares as are offered by any Shareholder for redemption, upon the presentation of a proper instrument of transfer together with a request directed to the Trust or a Person designated by the Trust that the Trust purchase such Shares or in accordance with such other procedures for redemption as the Trustees may from time to time authorize; and the Trust will pay therefor the net asset value thereof as determined by the Trustees (or by such Person or Persons to whom such determination has been delegated), in accordance with any applicable provisions of this Declaration of Trust and applicable law, less any fees imposed on such redemption. Unless extraordinary circumstances exist, payment for said Shares shall be made by the Trust to the Shareholder within seven (7) days after the date on which the request is made in proper form. The obligation set forth in this Section 6.2 is subject to the provision that in the event that any time the New York Stock Exchange (the “Exchange”) is closed for other than weekends or holidays, or if permitted by the rules and regulations or an order of the Commission during periods when trading on the Exchange is restricted or during any emergency which makes it impracticable for the Trust to dispose of the investments of the Trust or any applicable Series or to determine fairly the value of the net assets held with respect to the Trust or such Series or during any other period permitted by order of the Commission for the protection of investors, such obligations may be suspended or postponed by the Trustees. In the case of a suspension of the right of redemption as provided herein, a Shareholder may either withdraw the request for redemption or receive payment based on the net asset value per Share next determined after the termination of such suspension, less any fees imposed on such redemption. (b) Subject to applicable federal law including the 1940 Act, the redemption price may in any case or cases be paid wholly or partly in kind if the Trustees determine in their sole discretion that such payment is advisable in the interest of the remaining Shareholders of the Trust or any applicable Series for which the Shares are being redeemed, and the fair value, selection and quantity of securities or other property so paid or delivered as all or part of the redemption price may be determined by or under authority of the Trustees in their sole discretion. In no case shall the Trust be liable for any delay of any corporation or other Person in transferring securities selected for delivery as all or part of any payment in kind. (c) The Trustees may require any Shareholder or group of Shareholders (including some or all of the Shareholders of any Series or Class) to redeem Shares for any reason as determined by the Trustees, in their sole discretion, including (i) the determination of the Trustees that direct or indirect ownership of Shares of the Trust or any Series has or may become concentrated in such Shareholder to an extent that would disqualify any Series as a regulated investment company under the Internal Revenue Code of 1986, as amended (or any successor statute thereto), (ii) the failure of a Shareholder to supply a tax identification number if required to do so, or to have the minimum investment required (which may vary by Series or Class), (iii) if the Share activity of the account or ownership of Shares by a particular Shareholder is deemed by the Trustees either to affect adversely the management of the Trust or any Series or Class or not to be in the best interests of the remaining Shareholders of the Trust or any Series or Class or (iv) the failure of a Shareholder to pay when due for the purchase of Shares issued to him. Any such redemption shall be effected at the redemption price and in the manner provided in this Article VI. (d) The Shareholders shall upon demand disclose to the Trustees in writing such information with respect to direct and indirect ownership of Shares as the Trustees deem necessary to comply with the provisions of the Internal Revenue Code of 1986, as amended (or any successor statute thereto), or to comply with the requirements of any other taxing authority. (e) Subject to applicable federal law including the 1940 Act, and except as otherwise determined by the Trustees, upon redemption, Shares shall no longer be deemed outstanding or carry any voting rights irrespective of whether a record date for any matter on which such Shares were entitled to vote had been set on a date prior to the date on which such Shares were redeemed. In making a determination as to whether redeemed Shares shall be deemed outstanding and carry any voting rights with respect to any matter on which such Shares were entitled to vote prior to redemption, subject to applicable federal law including the 1940 Act, the Trustees may, among other things, determine that Shares redeemed either before or after a date specified by the Trustees between the record date for such matter and the meeting date for such matter shall be deemed outstanding and retain voting rights, which determination may be made for any reason including that it would not be reasonably practicable to obtain a quorum if all of the Shares redeemed after the record date for such matter and before the voting date no longer were deemed outstanding and carried any voting rights.

  • Repurchase and Redemption Section 4.01.