Redemption Program Sample Clauses

Redemption Program. Beginning on July 1, 2006, if a bargaining unit member has a level of corrective action for attendance as their most recent corrective action AND who goes a full 180 calendar days starting with the day after the last sick day equivalent without any lates, early outs, or sick days, misconduct or poor job performance that resulted in corrective action according to Article 7 (e.g., the employee works all assigned shifts without incident), will be eligible to remove the last two sick day equivalents and have the last formal corrective action for attendance removed. The redemption period (180 calendar days) will start over with the next sick day, lateness, early out or formal corrective action of any kind. Any approved non-FMLA leave of absence or any approved full time FMLA will extend the 180 calendar day timeframe equal to the amount of time on an approved non-FMLA leave / Full time FMLA. The request for redemption must be executed by the employee. Management is NOT responsible for tracking this program. Employees themselves are accountable. Any request to management will be reviewed 180 calendar days back from the date of the request. Examples but not to be considered an all-inclusive listing:
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Redemption Program. The Company has established a Redemption Program whereby any Class A or Class A-1 Member having owned its Class A or Class A-1 Membership Interests for at least one year may submit a request to the Company to redeem all or a portion of its Membership Interests. Any request for redemption of Membership Interests must be received by the Company no later than March 1st of the year in which redemption is sought. If the Company accepts such request, it will then have until September 1st of that year to redeem the Membership Interests at a redemption price not less than the proportionate share of 90% of the annual valuation of the Company based on a Member's Adjusted Capital Contribution. The Company will not redeem more than 3% of the Company's total Membership Interests under this program during any given year and has the right to limit any single Member to redemption equaling 1% of the Membership Interests in any one year. If requests for more than 3% are received in a given year, the Board will determine the order of any acceptance of requests. Furthermore, the Board shall be entitled to reject any one or more redemption requests received in order to comply with securities regulations and tax laws, retain the Company's taxable status as a partnership, and for any other reason in the discretion of the Board. The Redemption Program may be amended or suspended at any time by the Board.
Sample 1
Redemption Program. Between the date of this Agreement and the earlier of the termination of this Agreement or the Effective Time, the Company shall continue the suspension of its Unit Redemption Program.
Sample 1

Related to Redemption Program

  • Redemption The Company may redeem the Securities of any series issued hereunder on and after the dates and in accordance with the terms established for such series pursuant to Section 2.01 hereof.

  • Special Mandatory Redemption If Parent does not consummate the ERICO Acquisition on or prior to December 31, 2015, or the ERICO Merger Agreement is terminated any time prior to such date (without replacement thereof) other than as a result of consummating the ERICO Acquisition, then the Company shall be required to redeem this Security on the Special Mandatory Redemption Date at a redemption price equal to 101% of the principal amount of this Security, plus accrued and unpaid interest, if any, to, but excluding, the Special Mandatory Redemption Date. Notwithstanding the foregoing, installments of interest on this Security that are due and payable on Interest Payment Dates falling on or prior to the Special Mandatory Redemption Date shall be payable on such Interest Payment Dates to the registered Securityholders as of the close of business on the relevant regular record dates. The Company shall cause the notice of a Special Mandatory Redemption to be sent, with a copy to the Trustee, within five Business Days after the occurrence of the event triggering the obligation to effectuate the Special Mandatory Redemption to each Securityholder at its registered address. On or before the Special Mandatory Redemption Date, the Company shall deposit with the Trustee or a paying agent funds sufficient to pay the special mandatory redemption price of the Securities to be redeemed on the Special Mandatory Redemption Date. If funds sufficient to pay the special mandatory redemption price of the Securities to be redeemed on the Special Mandatory Redemption Date are deposited with the Trustee or a paying agent on or before such Special Mandatory Redemption Date, and any applicable conditions set forth in the Indenture are satisfied, interest shall cease to accrue on the Securities on and after such Special Mandatory Redemption Date.

  • Redemption Provisions Notwithstanding any provision to the contrary contained in the Certificate of Incorporation of Borrower, as amended from time to time (the “Charter”), if, pursuant to the redemption provisions contained in the Charter, Lender is entitled to a redemption of its Warrant, such redemption (in the case of Lender) will be at a price equal to the redemption price set forth in the Charter (the “Existing Redemption Price”). If, however, Lender delivers written notice to Borrower that the then current regulations promulgated under the SBIC Act prohibit payment of the Existing Redemption Price in the case of an SBIC (or, if applied, the Existing Redemption Price would cause the Series C Preferred Stock to lose its classification as an “equity security” and Lender has determined that such classification is unadvisable), the amount Lender will be entitled to receive shall be the greater of (i) fair market value of the securities being redeemed taking into account the rights and preferences of such securities plus any costs and expenses of the Lender incurred in making or maintaining the Warrant, and (ii) the Existing Redemption Price where the amount of accrued but unpaid dividends payable to the Lender is limited to Borrower’s earnings plus any costs and expenses of the Lender incurred in making or maintaining the Warrant; provided, however, the amount calculated in subsections (i) or (ii) above shall not exceed the Existing Redemption Price.

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