Common use of Redemption Restrictions Clause in Contracts

Redemption Restrictions. Notwithstanding any provision of this Agreement to the contrary, if any redemption of the Debentures or the Underlying Shares otherwise required under this Agreement or the Debentures 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 commercially reasonable best efforts to obtain such consent as promptly as practicable after any such redemption is required. Interest payable by the Company with respect to any such redemption shall accrue in accordance with Section 4.19 until such consent is obtained. Nothing contained in this Section 4.21 shall be construed as a waiver by the Purchaser of any rights it may have by virtue of any breach of any representation or warranty of the Company herein as to the absence of any requirement to obtain any such consent.

Appears in 1 contract

Samples: Convertible Debenture Purchase Agreement (Columbia Bakeries Inc)

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Redemption Restrictions. Notwithstanding any provision of this Agreement to the contrary, if any redemption of the Debentures or the Underlying Shares otherwise required under this Agreement or the Debentures 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 commercially reasonable best efforts to obtain such consent as promptly as practicable after any such redemption is required. Interest payable by the Company with respect to any such redemption shall accrue in accordance with Section SECTION 4.19 until such consent is obtained. Nothing contained in this Section SECTION 4.21 shall be construed as a waiver by the Purchaser of any rights it may have by virtue of any breach of any representation or warranty of the Company herein as to the absence of any requirement to obtain any such consent.

Appears in 1 contract

Samples: Convertible Debenture Purchase Agreement (Hy Tech Technology Group Ing)

Redemption Restrictions. Notwithstanding any provision of this Agreement to the contrary, if any repurchase of Convertible Debentures or redemption of the Debentures Shares or the Underlying Shares otherwise required under this Agreement or the Debentures would be prohibited in the absence of consent from any lender to of the Company or of any of the SubsidiariesSubsidiary, or by the holders of any class of securities of the Company, the Company shall use its commercially reasonable best efforts to obtain such consent as promptly as practicable after any such the redemption is required. Interest payable by the Company with respect to any such repurchase or redemption shall continue to accrue in accordance with Section 4.19 4.12 until such consent is obtained. Nothing contained in this Section 4.21 shall be construed as a waiver by the Purchaser of any rights it they may have by virtue of any breach of any representation or warranty of the Company herein as to the absence of any requirement to obtain any such consent.

Appears in 1 contract

Samples: Convertible Debenture and Preferred Stock Purchase Agreement (Substance Abuse Technologies Inc)

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Redemption Restrictions. Notwithstanding any provision of this Agreement to the contrary, if any redemption of the Debentures or the Underlying Shares otherwise required under this Agreement or the Debentures Certificate of Designation 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 commercially reasonable best efforts to obtain such consent as promptly as practicable after any such redemption is required. Interest payable by the Company with respect to any such redemption shall accrue in accordance with Section 4.19 Article X(e) of the Certificate of Designation until such consent is obtained. Nothing contained in this Section 4.21 4.13 shall be construed as a waiver by the Purchaser of any rights it they may have by virtue of any breach of any representation or warranty of the Company herein as to the absence of any requirement to obtain any such consent.

Appears in 1 contract

Samples: Convertible Preferred Stock Purchase Agreement (Market Central Inc)

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