Redemption by the Corporation. Subject to the provisions of this Section 8 and unless prohibited by applicable law governing distributions to stockholders, the Corporation may, in its sole discretion, redeem all or a portion of the outstanding shares of Preferred Stock:
(i) on or after the Closing but prior to the first anniversary of the Closing, at a redemption price per share equal to 150% of the Accrued Value;
(ii) on or after the first anniversary of the Closing but prior to the second anniversary of the Closing, at a redemption price per share equal to 140% of the Accrued Value;
(iii) on or after the second anniversary of the Closing but prior to the third anniversary of the Closing, at a redemption price per share equal to 130% of the Accrued Value;
(iv) on or after the third anniversary of the Closing but prior to the fourth anniversary of the Closing, at a redemption price per share equal to 120% of the Accrued Value;
(v) on or after the fourth anniversary of the Closing but prior to the fifth anniversary of the Closing, at a redemption price per share equal to 110% of the Accrued Value; and
(vi) on or after the fifth anniversary of the Closing, at a redemption price per share equal to 100% of the Accrued Value. If, on the date of such redemption, applicable law governing distributions to stockholders prevents the Corporation from redeeming all shares of Preferred Stock scheduled to be redeemed, the Corporation shall be entitled to ratably redeem the maximum number of shares that it may redeem consistent with such law and any Preferred Stock not so redeemed shall remain outstanding. The Corporation shall provide written notice (the “Corporation Notice”) by e-mail and first class mail postage prepaid, to each Holder of record (determined at the close of business on the Business Day next preceding the day on which the Corporation Notice is given) of the Preferred Stock to be redeemed, at the address last shown on the records of the Corporation for such Holder, notifying such Holder of the redemption to be effected, specifying the number of shares to be redeemed from such Holder, specifying the date of such redemption, the redemption price, the place at which payment may be obtained and calling upon such Holder to surrender to the Corporation, in the manner and at the place designated, his, her or its certificate or certificates representing the shares to be redeemed; provided that the date of redemption shall be not less than 15 days from the date of the Corporation Notice. Excep...
Redemption by the Corporation. (i) To the extent funds are legally available therefor, on the earlier of (x) March 1, 2010, or if such date is not a Business Day then on the next Business Day, and (y) the date on which a Sale of the Company or a Qualifying Offering occurs, the Corporation shall redeem at the Redemption Price therefor all issued and outstanding shares of Series A Preferred (the events described in any of the above clauses (x) or (y) are each referred to herein as a "Redemption Event").
(ii) To the extent funds are legally available therefor, on any Business Day prior to a Redemption Event, the Corporation, at its option, may redeem at the Redemption Price therefor all or any portion of the shares of Series A Preferred then issued and outstanding.
(iii) The date on which shares of Series A Preferred are required to be redeemed pursuant to this Section 4 is referred to herein as the "Redemption Date." If, on the Redemption Date, there shall be insufficient funds of the Corporation legally available for the complete redemption of the Series A Preferred, such amount of the funds as is legally available shall be used for the redemption obligation as described in Section 4(d) of this Part III. If the Corporation shall fail to discharge its obligation to redeem shares of the Series A Preferred upon the occurrence of a Redemption Event, such obligation shall be discharged as soon as the Corporation is permitted by law to discharge such obligations. Such redemption obligation shall be cumulative so that if such obligation shall not be fully discharged for any reason, all funds legally available therefor shall immediately be applied thereto upon receipt by the Corporation until such obligation is discharged. The redemption price (the "Redemption Price") for each outstanding share of Series A Preferred to be redeemed pursuant to this Section 4(a) shall be the Preferred Liquidation Value thereof as of the Redemption Date.
Redemption by the Corporation. The Series C Preferred Stock shall not be redeemable by the Corporation. In all events, any repurchase or redemption of Series C Preferred Stock shall be subject to the prior approval of the Corporation’s primary federal banking regulator, if required by applicable law or regulation or if such approval is a requirement to the Series C Preferred Stock being classified as Tier 1 capital (or the equivalent) for bank regulatory purposes, together with any other required regulatory approvals.
Redemption by the Corporation. (1) Subject to paragraph 3(b)(3) of this ARTICLE FOURTH, the Corporation shall redeem all then outstanding shares of Series A Preferred Stock on the date that is the earlier of: (i) a Redemption Triggering Event, or (ii) the seventh anniversary of the Issue Date, at a price per share equal to the Face Amount plus accrued but unpaid dividends thereon as of the redemption date (subject to the remaining provisions of this paragraph 3(d)(1), the “Series A Redemption Price”). If a Redemption Triggering Event shall occur prior to December 31, 2011, then the “Face Amount” shall be deemed to be $25,000,000 and the Series A Redemption Price payable upon such Redemption Triggering Event shall equal $25,000,000 plus accrued but unpaid dividends at a rate of 8% per annum on such amount from the Issue Date through and including the redemption date, notwithstanding anything to the contrary in the definition of “Face Amount” in paragraph 3(n) of this ARTICLE FOURTH.
(2) The Corporation may redeem all then outstanding shares of Series A Preferred Stock at any time at a price per share equal to $25,000,000, payable in full in cash by wire transfer of immediately available funds, plus all accrued but unpaid dividends at a rate of 8% per annum on such amount from the Issue Date through and including the redemption date.
(3) Notice of every proposed redemption of Series A Preferred Stock shall be sent by or on behalf of the Corporation to the holders of record of the shares of Series A Preferred Stock so to be redeemed prior to the date fixed for redemption (the “Series A Redemption Date”), which Series A Redemption Date shall be no sooner than 30 days and no later than 60 days from such notice, (i) notifying such holders of the election or obligation of the Corporation to redeem such shares of Series A Preferred Stock and of the Series A Redemption Date, (ii) stating the place or places at which the shares of Series A Preferred Stock called for redemption shall, upon presentation and surrender of the certificates evidencing such shares of Series A Preferred Stock, be redeemed, and the Series A Redemption Price therefor, and (iii) stating that unless the Corporation defaults in making the redemption payment, dividends on the Dividend Base Amount shall cease to accrue on the Series A Redemption Date.
(4) If the Corporation fails to make a full payment or delivery as aforesaid on the Series A Redemption Date, then each holder of shares called for redemption shall be entitled to...
Redemption by the Corporation. 1. The Class E Preferred Stock is not redeemable prior to [the fifth anniversary of the 150th day after the effective date of the Merger]. On and after such fifth anniversary, the Corporation, at its option upon the written notice specified below, may redeem shares of the Class E Preferred Stock, in whole or in part, at any time or from time to time, for cash at a redemption price of One Thousand Dollars ($1,000) per share, plus all accrued and unpaid dividends thereon (except as provided in paragraph 2) to the date fixed for redemption (the "Redemption Date") (except with respect to any Class E Excess Preferred Stock (as defined in the
Redemption by the Corporation. The Converting Preferred Stock shall not be subject to redemption.
Redemption by the Corporation. The Corporation will have the right, at the Corporation's option, to redeem all or a portion of the shares of Series A Preferred Stock at any time or times after the Issuance Date of such Series A Preferred Stock, at a price per share (the “Redemption Price”) equal to the sum of the following (without duplication): (a) the Original Issue Price, plus (b) any accrued but unpaid Dividends (subject to Section I.C.1 above), plus (c) the Make-Whole Amount (if any, and subject to Section I.C.1 above).
Redemption by the Corporation. (a) The Series A Preferred Stock may not be redeemed, in whole or in part, prior to the third anniversary of the Issue Date. On and after the third anniversary of the Issue Date, the Series A Preferred Stock may be redeemed by the Corporation at any time and from time to time in, whole or in part, at the option of the Corporation, at the Redemption Price.
(b) If less than all of the outstanding shares of the Series A Preferred Stock are to be redeemed by the Corporation, such shares will be redeemed pro rata as determined by the Board in its sole discretion.
Redemption by the Corporation. For so long as any shares of any series of New Class B Preferred Stock remain outstanding, none of the New Class A Preferred Stock shall be redeemed, in whole or in part, and neither the Corporation nor any affiliate or Subsidiary of the Corporation shall purchase or otherwise acquire any shares of New Class A Preferred Stock prior to the date on which all of the shares of all series of the New Class B Preferred Stock shall have been redeemed. Walnut, a substantial holder of the New Class B Preferred Stock, has stated its desire to exit its investment in the New Class B Preferred Stock at a point in the future, preferably on or around May 31, 2009. The Corporation acknowledges this desire and will assist Walnut in the sale of its New Class B Preferred Stock provided that such sale does not harm the holders of the New Class A Preferred or the Common Stock or the other holders of New Class B Preferred Stock and does not violate any covenants of the Corporation in any Corporation debt instruments that may be in place at such time.
Redemption by the Corporation. The Class A Preferred Stock shall not be redeemable by the Corporation.
