Common use of Redemption Restrictions Clause in Contracts

Redemption Restrictions. Notwithstanding any provision of this Agreement to the contrary, if any redemption of the Shares otherwise required under this Agreement or the Conditions would be prohibited in the absence of consent from any lender to the Company or any of the Subsidiaries, or by the holders of any class of securities of the Company, the Company shall use its best endeavours to obtain such consent as promptly as practicable after any such redemption is required. The Company shall pay interest with respect to any such redemption at the rate specified in Clause 6 until such consent is obtained.

Appears in 4 contracts

Samples: Subscription Agreement (Seven Arts Pictures PLC), Subscription Agreement (Seven Arts Pictures PLC), Subscription Agreement (Seven Arts Pictures PLC)

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