Redemption by the Holder Clause Samples
The 'Redemption by the Holder' clause grants the security holder the right to require the issuer to repurchase or redeem the security before its scheduled maturity. Typically, this clause outlines the conditions under which the holder can exercise this right, such as specific dates, notice requirements, or triggering events like a change of control. Its core practical function is to provide the holder with flexibility and protection, allowing them to exit the investment under certain circumstances and thereby manage their risk exposure.
Redemption by the Holder. The Company shall deliver the applicable Event of Default Redemption Price to the Holder within five (5) Business Days after the Company’s receipt of the Holder’s Event of Default Redemption Notice. If the Holder has submitted a Change of Control Redemption Notice in accordance with Section 5(b), the Company shall deliver the applicable Change of Control Redemption Price to the Holder (i) concurrently with the consummation of such Change of Control if such notice is received prior to the consummation of such Change of Control and (ii) within five (5) Business Days after the Company’s receipt of such notice otherwise. The Company shall deliver the applicable Holder Mandatory Redemption Price on the applicable Holder Mandatory Redemption Payment Date. Any Cash Payment payable in respect of the applicable Company Redemption Price shall be delivered by the Company on the applicable Company Redemption Date, and any issuance of shares of Common Stock shall be delivered to the Holder, in the same manner as set forth in Section 3(c)(ii) hereof, within three (3) Trading Days of the Company Redemption Stock Pricing Date. In the event of a redemption or conversion of less than all of the Principal of this Note, the Company shall promptly cause to be issued and delivered to the Holder a new Note (in accordance with Section 17(d)) representing the outstanding Principal which has not been redeemed. If the Company does not pay the applicable Redemption Price to the Holder within the time period required, at any time thereafter and until the Company pays such unpaid Redemption Price in full, the Holder shall have the option, in lieu of redemption or conversion, to require the Company to promptly return to the Holder all or any portion of this Note representing the amount of Principal that was submitted for or subject to redemption and for which the applicable Redemption Price (together with any Late Charges thereon) has not been paid or shares of Common Stock have not been issued therefore, or any combination thereof. Upon the Company’s receipt of such cancellation notice, (x) the applicable Redemption Notice shall be null and void with respect to such amount of Principal that was not redeemed or converted, and (y) the Company shall immediately return this Note, or issue a new Note (in accordance with Section 17(d)) to the Holder representing such amount of Principal to be redeemed. The Holder’s delivery of a notice voiding a Redemption Notice and exercise of its rights f...
Redemption by the Holder. On or after December12, 1997, the Holder shall have the right to redeem the Convertible Debentures by notifying the Company. Within one business day of such notification, the Company, at its sole option, may elect to: (1) redeem the Convertible Debentures at face value plus accrued interest, or (2) issue Common Stock at a rate equal to ninety percent (90%) of the previous five trading days average closing bid price on the NASDAQ National Market System (or the primary exchange where shares are traded) ending the day prior to the notice date plus any accrued interest. If the Company elects to issue Common Stock, such shares issued to Holder shall be either issued pursuant to an exemption under the U.S. Federal securities laws or with registered and freely tradeable shares. The Company agrees that upon the first redemption by Holder, the Company shall instruct Holder as to its method of redemption and such method of redemption shall continue to be effective upon each subsequent redemption by Holder until Holder is notified otherwise. Redemption by the Company. On or after December12, 1997, and upon thirty (30) days advance notice to the Holder, the Company shall have the right to redeem the Convertible Debentures. Within thirty days of such notification, the Holder may elect to: (1) redeem the Convertible Debentures for cash at face value plus accrued interest, or (2) have the Company issue Common Stock at a rate equal to ninety percent (90%) of the previous five trading days average closing bid price on the NASDAQ National Market System ending the day prior to the notice date plus any accrued interest. In accordance with the election of the Holder, the Company has ten days after receipt of the Holder's election to either make the payment as described herein or deliver the Common Stock to the Holder.
Redemption by the Holder. Holders of Series B Preferred Stock will have no right to require redemption of any shares of Series B Preferred Stock.
Redemption by the Holder. At any time following the repayment in full of the Company’s 13.75% Senior Secure Notes due 2015, each holder of Class D Preferred Units shall have the right to cause the Company to redeem any and all of its Class D Preferred Units at the Redemption Price. Each such holder of Class D Preferred Units shall give the Company a written notice at its principal office of its desire for the Company to redeem such holder’s Class D Preferred Units (the “Holder Redemption Notice”), specifying the Redemption Date, which shall be no less than ten (10) and not more twenty (20) days after delivery of the Holder Redemption Notice, the number of Class D Preferred Units to be redeemed and the Redemption Price. On the Redemption Date and upon receipt by the Company of evidence satisfactory to the Company of the ownership of the Class D Preferred Units, the holders thereof shall be entitled to receive payment therefor. After the Redemption Date, the Class D Preferred Units subject to the Holder Redemption Notice shall no longer constitute issued and outstanding Units of the Company and shall only constitute the rights to receive Redemption Price as set forth herein
Redemption by the Holder