Redemption Rights and Obligations. Mtel LATAM may at its option --------------------------------- at any time, or from time to time, redeem any or all of the Preferred Stock at a redemption price per share equal to the face value of the shares of such Preferred Stock ($1,000 per share) plus the value of all cumulative, accrued, undeclared and unpaid dividends with respect to the shares of Preferred Stock being redeemed. In the event that Mtel LATAM exercises its redemption right with respect to any or all of the shares of Preferred Stock, Mtel LATAM shall redeem an equal number of shares of Preferred Stock held by the Purchaser and Mtel International, or upon the agreement of the Purchaser and Mtel International, on any other basis. Upon the redemption of any or all of the Purchaser's shares of Preferred Stock, the dividend rate payable on the remaining outstanding shares of Preferred Stock owned by Mtel International, any Permitted Transferee and any Third Party in excess of that number of shares subject to an increased dividend rate as provided for in Section 4 of the Mtel LATAM Charter shall, simultaneously with such redemption of the Purchaser's stock, be reduced to a rate of 12% per annum for the period between the second and third anniversaries of the Closing Date, 11% per annum for the period between the third and fourth anniversaries of the Closing Date, and 10% thereafter. For purposes of any calculation pursuant to this Section 4.2, the Purchaser's shares of Preferred Stock shall be deemed to include any shares of Preferred Stock Beneficially Owned by any Purchaser Transferee.
Redemption Rights and Obligations. (a) REDEMPTION RIGHT DURING 2008. The Securities may be redeemed at the election of the Company, as a whole or in part from time to time, on or at any time prior to December 31, 2008, at a price (the “Redemption Price”) equal to $900 per $1,000 principal amount of the Securities redeemed plus accrued and unpaid interest thereon, and the Holders shall have the obligation to surrender such Securities.
Redemption Rights and Obligations
