Common use of Procedure for Redemption Clause in Contracts

Procedure for Redemption. (a) On any Redemption Date, in accordance with a Redemption Notice, the Company shall pay or cause to be paid in cash to or to the order of each of the Series E Preferred Holders of the Series E Preferred Shares to be redeemed the aggregate Milestone Redemption Price for such shares, on presentation and surrender at the registered office of the Company or any other place designated in such Redemption Notice of the certificate or certificates representing such Series E Preferred Shares called for Redemption. If only part of the Series E Preferred Shares represented by any certificate shall be redeemed, a new certificate representing the balance of such Series E Preferred Shares shall be issued to each of the Series E Preferred Holders at the expense of the Company upon presentation and surrender of the first mentioned certificate. (b) From and after the Redemption Date specified in any such Redemption Notice, the Series E Preferred Shares called for Redemption shall thereupon be redeemed and each of the Series E Preferred Holders shall not be entitled to exercise any of the rights in respect thereof unless payment of the applicable Milestone Redemption Price shall not be made upon presentation of a certificate or certificates in accordance with the foregoing provisions in which case the rights of the Series E Preferred Holders shall remain unaffected. (c) The Series E Preferred Shares which are redeemed in accordance herewith shall be cancelled.

Procedure for Redemption. (a) On any Redemption Date, in accordance with a Redemption Notice, the Company shall pay or cause to be paid in cash to or to the order of each the Series D Preferred Holder of the Series E Preferred Holders of the Series E D Preferred Shares to be redeemed the aggregate Milestone Redemption Price for such shares, on presentation and surrender at the registered office of the Company or any other place designated in such Redemption Notice of the certificate or certificates representing such Series E D Preferred Shares called for Redemption. If only part of the Series E D Preferred Shares represented by any certificate shall be redeemed, a new certificate representing the balance of such Series E D Preferred Shares shall be issued to each of the Series E D Preferred Holders Holder at the expense of the Company upon presentation and surrender of the first mentioned certificate. (b) From and after the Redemption Date specified in any such Redemption Notice, the Series E D Preferred Shares called for Redemption shall thereupon be redeemed and each of the Series E D Preferred Holders Holder shall not be entitled to exercise any of the rights in respect thereof unless payment of the applicable Milestone Redemption Price shall not be made upon presentation of a certificate or certificates in accordance with the foregoing provisions in which case the rights of the Series E D Preferred Holders Holder shall remain unaffected.. 10 (c) The Series E D Preferred Shares which are redeemed in accordance herewith shall be cancelled.

Procedure for Redemption. (a) On any Redemption Date, in accordance with a Redemption Notice, the Company shall pay or cause to be paid in cash to or to the order of each the Series C Preferred Holder of the Series E Preferred Holders of the Series E C Preferred Shares to be redeemed the aggregate Milestone Redemption Price for such shares, on presentation and surrender at the registered office of the Company or any other place designated in such Redemption Notice of the certificate or certificates representing such Series E C Preferred Shares called for Redemption. If only part of the Series E C Preferred Shares represented by any certificate shall be redeemed, a new certificate representing the balance of such Series E C Preferred Shares shall be issued to each of the Series E C Preferred Holders Holder at the expense of the Company upon presentation and surrender of the first mentioned certificate. (b) From and after the Redemption Date specified in any such Redemption Notice, the Series E C Preferred Shares called for Redemption shall thereupon be redeemed and each of the Series E C Preferred Holders Holder shall not be entitled to exercise any of the rights in respect thereof unless payment of the applicable Milestone Redemption Price shall not be made upon presentation of a certificate or certificates in accordance with the foregoing provisions in which case the rights of the Series E C Preferred Holders Holder shall remain unaffected. (c) The Series E C Preferred Shares which are redeemed in accordance herewith shall be cancelled.