Common use of Redemption Defaults Clause in Contracts

Redemption Defaults. If the Corporation fails to pay any holder the Redemption Amount with respect to any share of Series "A" Preferred Shares within five business days after its receipt of a Redemption Notice, then the holder of Series "A" Preferred Shares entitled to redemption shall be entitled to interest on the price payable upon Redemption at a per annum rate equal to the lower of eighteen percent (18%) and the highest interest rate permitted by applicable law from the date on which the Corporation receives the Redemption Notice until the date of payment of the Redemption Amount hereunder. In the event the Corporation is not able to redeem all of the shares of Series "A" Preferred Shares subject to Redemption Notices delivered prior to the date upon which such redemption is to be effected, the Corporation shall redeem shares of Series "A" Preferred Shares from each holder pro rata, based on the total number of shares of Series "A" Preferred Shares outstanding at the time of redemption included by such holder in all Redemption Notices delivered prior to the date upon which such redemption is to be effected relative to the total number of shares of Series "A" Preferred Shares outstanding at the time of redemption included in all of the Redemption Notices delivered prior to the date upon which such redemption is to be effected.

Redemption Defaults. If the Corporation Company fails to pay any holder Purchaser the Redemption Amount with respect to any share of Series "A" Preferred Shares Stock within five business days Trading Days after its receipt of a Purchaser Redemption Notice, then the holder of Series "A" Preferred Shares Purchaser entitled to redemption shall be entitled to interest on the price payable upon Redemption Amount at a per annum rate equal to the lower of eighteen percent (18%) and the highest interest rate permitted by applicable law from the date on which the Corporation Company receives the Purchaser Redemption Notice until the date of payment of the Redemption Amount hereunder. In the event the Corporation Company is not able to redeem all of the shares of Series "A" Preferred Shares Stock subject to Purchaser Redemption Notices delivered prior to the date upon which such redemption is to be effected, the Corporation Company shall redeem shares of Series "A" Preferred Shares Stock from each holder Purchaser pro rata, based on the total number of shares of Series "A" Preferred Shares Stock outstanding at the time of redemption included by such holder in all Purchaser Redemption Notices delivered prior to the date upon which such redemption is to be effected relative to the total number of shares of Series "A" Preferred Shares Stock outstanding at the time of redemption included in all of the Purchaser Redemption Notices delivered prior to the date upon which such redemption is to be effected.

Redemption Defaults. If the Corporation fails to pay any holder the Redemption Amount with respect to any share of Series "A" B Preferred Shares Stock within five business days after its receipt of a Redemption Notice, then the holder of Series "A" B Preferred Shares Stock entitled to redemption shall be entitled to interest on the price payable upon Redemption at a per annum rate equal to the lower of eighteen percent (18%) and the highest interest rate permitted by applicable law Amount in accordance with Article XV.E from the date on which the Corporation receives the Redemption Notice until the date of payment of the Redemption Amount hereunder. In the event the Corporation is not able to redeem all of the shares of Series "A" B Preferred Shares Stock subject to Redemption Notices delivered prior to the date upon which such redemption is to be effected, the Corporation shall redeem shares of Series "A" B Preferred Shares Stock from each holder pro rata, based on the total number of shares of Series "A" B Preferred Shares Stock outstanding at the time of redemption included by such holder in all Redemption Notices delivered prior to the date upon which such redemption is to be effected relative to the total number of shares of Series "A" B Preferred Shares Stock outstanding at the time of redemption included in all of the Redemption Notices delivered prior to the date upon which such redemption is to be effected.

Redemption Defaults. If the Corporation fails to pay any holder the Redemption Amount with respect to any share of Series "A" A Preferred Shares Stock within five business days after its receipt of a Redemption Notice, then the holder of Series "A" A Preferred Shares Stock entitled to redemption shall be entitled to interest on the price payable upon Redemption at a per annum rate equal to the lower of eighteen percent (18%) and the highest interest rate permitted by applicable law Amount in accordance with Article XV.E from the date on which the Corporation receives the Redemption Notice until the date of payment of the Redemption Amount hereunder. In the event the Corporation is not able to redeem all of the shares of Series "A" A Preferred Shares Stock subject to Redemption Notices delivered prior to the date upon which such redemption is to be effected, the Corporation shall redeem shares of Series "A" A Preferred Shares Stock from each holder pro rata, based on the total number of shares of Series "A" A Preferred Shares Stock outstanding at the time of redemption included by such holder in all Redemption Notices delivered prior to the date upon which such redemption is to be effected relative to the total number of shares of Series "A" A Preferred Shares Stock outstanding at the time of redemption included in all of the Redemption Notices delivered prior to the date upon which such redemption is to be effected.