Preferred Stock Redemption. All of the issued and outstanding Frontier Preferred Stock as of the date hereof shall have been called for redemption by Frontier and Frontier shall have deposited in an escrow account funds sufficient to pay the holders of the Frontier Preferred Stock all amounts such holders are entitled to receive in connection with the redemption of the Frontier Preferred Stock.
Preferred Stock Redemption. Central Jersey shall use its best efforts to redeem all of the 11,300 outstanding shares of Central Jersey Preferred Shares issued by Central Jersey to the United States Department of the Treasury under the United States Department of the Treasury’s Troubled Assets Relief Program Capital Purchase Program (the “TARP Obligations”) and satisfy all obligations related thereto immediately before or contemporaneously with Closing. Accordingly, Central Jersey shall use its best efforts, in coordination with Kearny, to obtain all necessary approvals and non-objections of Regulatory Authorities and any counter party and third party consents necessary for the foregoing. Kearny shall advance the funds to Central Jersey for redemption of the Central Jersey Preferred Shares immediately before or contemporaneously with Closing to enable Central Jersey to effectuate the redemptions.
Preferred Stock Redemption of the Loan Agreement is deleted and replaced in its entirety as follows:
Preferred Stock Redemption. (i) At any time after the sixth anniversary of the date hereof, and prior to the consummation of a Qualified Public Offering, each holder of Preferred Stock (for purposes of this Section 7D only, a "Redeeming Holder") shall have the right to require the Company to repurchase all or any portion of the Preferred Stock then held by such Redeeming Holder at $27.50 per share (the "Series B Redemption Price"), if Series B Preferred Stock is to be repurchased, or $20.00 per share (the "Series A Redemption Price"), if Series A Preferred Stock is to be repurchased (the "Redemption"), by delivering a written notice to the Company specifying the number of shares to be purchased (the "Redemption Notice"); provided that the Redemption shall not be authorized unless at such time at least two out of the following three persons or groups of persons have agreed to require the Company to repurchase all or any portion of their shares of Preferred Stock as provided herein (or, pursuant to paragraph 7E below, to repurchase all or any portion of their shares of Underlying Common Stock): (a) the holders of a majority of the Centennial Stock, (b) the holders of a majority of the Chemical Stock and (c) the holders of a majority of the Hancxxx Xxxck. Upon authorization by the such persons or groups of persons, the Company shall notify in writing all Redeeming Holders of the receipt of such authorization and shall allow all such Redeeming Holders to submit a Redemption Notice within 15 days after the delivery by the Company of such written notice to the Redeeming Holders.
(ii) Within thirty days after the delivery of written notice by the Company to all Redeeming Holders, and subject to the provisions hereof, the Company shall purchase and the Redeeming Holders shall sell the number of such Redeeming Holders' shares of Preferred Stock specified in the Redemption Notice at a mutually agreeable time and place (the "Redemption Closing").
(iii) At the Redemption Closing, the Redeeming Holders shall deliver to the Company certificates representing the Redeeming Holders' shares of Preferred Stock to be repurchased by the Company, and the Company shall deliver to such Redeeming Holders the Series B Redemption Price or the Series A Redemption Price, as provided hereunder, by cashier's or certified check payable to such Redeeming Holders or by wire transfer of immediately available funds to an account or accounts designated by such Redeeming Holders. If the certificates delivered by any Rede...
Preferred Stock Redemption. Parent shall have redeemed or repurchased all outstanding shares of preferred stock of Parent on terms acceptable to Seller.
Preferred Stock Redemption. On or prior to the Closing Date, the transactions contemplated by the Stock Redemption Agreement shall have been consummated on the terms set forth therein.
Preferred Stock Redemption. If one or more holders of preferred stock issued by Borrower give notice to Borrower of the exercise of a right of redemption and (i) the aggregate redemption price payable to all such holders would be greater than $2,500,000, or (ii) giving effect to such redemption, there would exist an Event of Default or any event or condition which, with the giving of notice, the passage of time or both, would constitute an Event of Default. Borrower has the right to cure an Event of Default under Sections 6.3, 8.2, arising out of a failure to comply with the provisions of Sections 6.3, 6.7, 7.4, 7.5 (except with respect to the certificate of deposit pledged hereunder), 7.6 or 7.7, by pledging to Bank a certificate of deposit issued by Bank in a principal amount of one hundred and five percent (105%) of all outstanding Obligations, which has a term acceptable to Bank; provided, however, that Bank shall have no obligation to make any further Advances so long as such Event of Default exists or would exist in the absence of the pledged certificate of deposit and Borrower shall have no obligation to comply with (x) any of the covenants set forth in Sections 6.3, 6.7, 7.4, 7.5 (except with respect to the certificate of deposit pledged hereunder), 7.6 or 7.7 or (y) commencing 91 days after the date such certificate of deposit is pledged to the Bank and provided that no Event of Default has occurred under Section 8.5 hereof prior to the end of such 91 day period, the last 3 sentences of Section 6.5, in each case for so long as this cure is in effect. If following the pledge of a certificate of deposit in accordance with this paragraph there then exist no Events of Default (other than the Events of Default that were cured by the pledge of such certificate of deposit), Bank agree that it shall, upon the written request of Borrower, rescind any notice of exclusive control that Bank has given with respect to any account of Borrower as a result of such cured Events of Default.
Preferred Stock Redemption. At the Closing, or immediately prior thereto, if requested by the Grantee by delivery of written notice to the Grantor at any time 15 days prior to the Closing, the Grantor shall cause Westland Realty to redeem from the current holders all of the outstanding preferred stock of Westland Realty at the redemption price for such stock in accordance with the Certificate of Incorporation of Westland Realty (the "Redemption"). All expenses, costs and fees incurred in connection with the Redemption shall be paid for by the Grantor.
Preferred Stock Redemption. 34 5.13 Matters Relating to the Commitment Letters...................................................34
Preferred Stock Redemption. At the Effective Time, Company shall redeem all outstanding Company Preferred Stock in accordance with the terms and conditions set forth in the 10% Preferred Designation, except for shares of Company Preferred Stock that the Company otherwise has the right to purchase from the holder thereof pursuant to the terms of a stock purchase agreement, and shall retire and cancel all shares of Company Preferred Stock so redeemed or otherwise purchased.
