Common use of Redemption Terms Clause in Contracts

Redemption Terms. The Company reserves the right, at its sole option, to call a mandatory redemption of any percentage of the balance on the Debentures during the two hundred ten (210) day period following the Closing Date. In the event the Company exercises such right of redemption up to and including the two hundred tenth (130th) day following the Closing Date it shall pay the Holder, in U.S. currency One Hundred Thirty Percent (130%) of the face amount of the Debentures redeemed. Mandatory redemption by the Company shall be effected by the Company notifying the Holder by facsimile at the number listed in the Subscription Agreement of the Company's intention to exercise its right of mandatory redemption. The Company shall state in such notice the dollar amount of the Debentures it intends to redeem, the amount that it will pay to effectuate such redemption and the date by which the Holder must deliver the Debentures to Xxxxxx X. XxXxxxx, Escrow Agent (including the Escrow Agent's address) unless the Company is already in receipt of those Debentures to be redeemed. The date by which the Debentures must be delivered to the Escrow Agent shall not be later than 10 business days following the date the Company notifies the Holder by facsimile of the redemption. The Company shall give the Holder at least 2 business day's notice of the above information. On or before the date by which the Holder is to deliver the original Debentures to the Escrow Agent, the Company shall wire to the Escrow Agent that amount necessary to pay the Holder to effectuate the mandatory redemption. Once the Escrow Agent is in receipt of the original Debentures and those funds necessary to effectuate the mandatory conversion he shall wire those funds to the Holder and deliver to the Company the original Debentures via overnight courier. The Holder shall not be entitled to send a Conversion Notice to the Company with respect to the Debentures being redeemed during such period.

Redemption Terms. The Company reserves the right, at its sole option, to call a mandatory redemption of any percentage of the balance on the Debentures during the two hundred ten (210) day period following the Closing Date. In the event the Company exercises such right of redemption up to and including the two hundred tenth (130th210th) day following the Closing Date it shall pay the HolderPurchaser, in U.S. currency One Hundred Thirty Percent (130%) of the face amount of the Debentures redeemed. Mandatory redemption by the Company shall be effected by the Company notifying the Holder Purchaser by facsimile at the number listed in the Subscription this Agreement of the Company's intention to exercise its right of mandatory redemption. The Company shall state in such notice the dollar amount of the Debentures it intends to redeem, the amount that it will pay to effectuate such redemption and the date by which the Holder Purchaser must deliver the Debentures to Xxxxxx X. XxXxxxx, Escrow Agent (including the Escrow Agent's address) unless the Company is already in receipt of those Debentures to be redeemed. The date by which the Debentures must be delivered to the Escrow Agent shall not be later than 10 business days following the date the Company notifies the Holder Purchaser by facsimile of the redemption. The Company shall give the Holder Purchaser at least 2 business day's notice of the above information. On or before the date by which the Holder Purchaser is to deliver the original Debentures to the Escrow Agent, the Company shall wire to the Escrow Agent that amount necessary to pay the Holder Purchaser to effectuate the mandatory redemption. Once the Escrow Agent is in receipt of the original Debentures and those funds necessary to effectuate the mandatory conversion he shall wire those funds to the Holder Purchaser and deliver to the Company the original Debentures via overnight courier. The Holder Purchaser shall not be entitled to send a Conversion Notice to the Company with respect to the Debentures being redeemed during such period.

Redemption Terms. The Company reserves the right, at its sole option, to call a mandatory redemption of any percentage of the balance on the Debentures during the two hundred ten (210) day period following the Closing Date. In the event the Company exercises such right of redemption up to and including the two hundred tenth (130th210th) day following the Closing Date it shall pay the HolderPurchaser, in U.S. currency One Hundred Thirty Percent (130%) of the face amount of the Debentures redeemed. Mandatory redemption by the Company shall be effected by the Company notifying the Holder Purchaser by facsimile at the number listed in the Subscription this Agreement of the Company's intention to exercise its right of mandatory redemption. The Company shall state in such notice the dollar amount of the Debentures it intends to redeem, the amount that it will pay to effectuate such redemption and the date by which the Holder Purchaser must deliver the Debentures to Xxxxxx Josexx X. XxXxxxx, Escrow Xxcrow Agent (including the Escrow Agent's address) unless the Company is already in receipt of those Debentures to be redeemed. The date by which the Debentures must be delivered to the Escrow Agent shall not be later than 10 business days following the date the Company notifies the Holder Purchaser by facsimile of the redemption. The Company shall give the Holder Purchaser at least 2 business day's notice of the above information. On or before the date by which the Holder Purchaser is to deliver the original Debentures to the Escrow Agent, the Company shall wire to the Escrow Agent that amount necessary to pay the Holder Purchaser to effectuate the mandatory redemption. Once the Escrow Agent is in receipt of the original Debentures and those funds necessary to effectuate the mandatory conversion he shall wire those funds to the Holder Purchaser and deliver to the Company the original Debentures via overnight courier. The Holder Purchaser shall not be entitled to send a Conversion Notice to the Company with respect to the Debentures being redeemed during such period.

Redemption Terms. The Company reserves the right, at its sole option, to call a mandatory redemption of repurchase any percentage of the balance on the Debentures during the two hundred ten Shares not previously sold by Purchaser at any time up to one (2101) day period year following the Closing Date. In the event If the Company exercises such right of redemption up to and including repurchase on or before the two hundred tenth one (130th1) day year anniversary following the Closing Date Date, it shall pay the HolderPurchaser, in U.S. currency One Hundred Thirty Twenty Five Percent (130125%) of the face amount of the Debentures redeemed. Mandatory redemption paid for such repurchased Shares by the Purchaser pursuant to the terms of this Agreement. The Company shall be effected may exercise its repurchase rights hereunder by the Company notifying the Holder Purchaser by facsimile at the number listed in the Subscription this Agreement or in accordance with Section 9 of the Company's intention to exercise its right of mandatory redemptionthis Agreement. The Company shall state in such notice the dollar amount number of the Debentures Shares it intends to redeemrepurchase, the amount that it will pay to effectuate effect such redemption repurchase and the date by which the Holder Purchaser must deliver the Debentures Shares to Xxxxxx X. XxXxxxx, Escrow Agent (including the Escrow Agent's address) unless the Company is already in receipt of those Debentures Shares to be redeemedrepurchased. The date by which Purchaser shall be prohibited from selling or trading the Debentures must be delivered Shares subject to the Escrow Agent shall not be later than 10 business days following repurchase notice after the date the Company notifies the Holder by facsimile of the redemptionnotice has been received. The Company shall give the Holder Purchaser at least 2 three (3) business day's notice of the above informationinformation and shall only be permitted to give such notice after Xxxxxxx Del Medico, Esq., or other mutually acceptable attorney, is in receipt of that amount of funds necessary to effect the redemption. On or before the date by which the Holder Purchaser is to deliver the original Debentures Shares to the Escrow Agent, the Company shall wire to the Escrow Agent that amount necessary to pay the Holder Purchaser to effectuate effect the mandatory redemptionrepurchase. Once After the Escrow Agent is in receipt of the original Debentures Shares and those funds necessary to effectuate the mandatory conversion he repurchase, the Escrow Agent shall wire those funds to the Holder Purchaser and deliver to the Company the original Debentures Shares via overnight courier. The Holder Company shall not be entitled to send a Conversion Notice make any payments required under the terms of this subparagraph 4(g) to the Escrow Agent within five (5) business days following the date the Company with respect sends the Purchaser a notice to the Debentures being redeemed during such periodrepurchase.

Redemption Terms. The Company reserves the right, at its sole option, to call a mandatory redemption of any percentage of the balance on the Debentures during the two hundred ten (210) day period following the Closing Date. In the event the Company exercises such right of redemption up to and including the two hundred tenth (130th210th) day following the Closing Date it shall pay the HolderPurchaser, in U.S. currency One Hundred Thirty Percent (130%) of the face amount of the Debentures redeemed. Mandatory redemption by the Company shall be effected by the Company notifying the Holder Purchaser by facsimile at the number listed in the Subscription this Agreement of the Company's intention to exercise its right of mandatory redemption. The Company shall state in such notice the dollar amount of the Debentures it intends to redeem, the amount that it will pay to effectuate such redemption and the date by which the Holder Purchaser must deliver the Debentures to Xxxxxx Josexx X. XxXxxxx, Escrow Xxcrow Agent (including the Escrow Agent's address) unless the Company is already in receipt of those Debentures to be redeemed. The date by which the Debentures must be delivered to the Escrow Agent shall not be later 16 17 than 10 business days following the date the Company notifies the Holder Purchaser by facsimile of the redemption. The Company shall give the Holder Purchaser at least 2 business day's notice of the above information. On or before the date by which the Holder Purchaser is to deliver the original Debentures to the Escrow Agent, the Company shall wire to the Escrow Agent that amount necessary to pay the Holder Purchaser to effectuate the mandatory redemption. Once the Escrow Agent is in receipt of the original Debentures and those funds necessary to effectuate the mandatory conversion he shall wire those funds to the Holder Purchaser and deliver to the Company the original Debentures via overnight courier. The Holder Purchaser shall not be entitled to send a Conversion Notice to the Company with respect to the Debentures being redeemed during such period.

Redemption Terms. The Company reserves shall have the rightright to redeem the unconverted portion of the Debentures in whole or in part, at its sole option, any time as follows: Up to call a mandatory redemption of any percentage of and including the balance on the Debentures during the two hundred ten (210) 90th day period following the Closing Date. In the event , the Company exercises such shall have the right to redeem any or all of redemption up to and including the two hundred tenth (130th) day following the Closing Date it shall pay the Holder, in U.S. currency One Hundred Thirty Percent (130%) Debentures for 120% of the face amount of the Debentures and Warrants being redeemed, plus all accrued interest thereon. Mandatory redemption Redemption by the Company shall be effected by the Company notifying the Holder Purchaser by facsimile at the number listed in the Subscription this Agreement of as to the Company's intention to exercise its right of mandatory redemption. The Company shall state in such notice the dollar amount of the Debentures it intends to redeem, the amount that it will pay to effectuate such redemption and the date by which the Holder Purchaser must deliver the original Debentures to Xxxxxx X. XxXxxxx, Escrow Agent (including be redeemed to the Escrow Agent's address) unless the Company is already in receipt of those Debentures to be redeemed. The date by which the Debentures must be delivered to the Escrow Agent shall not be later than 10 business days following the date the Company notifies the Holder by facsimile of the redemption. The Company shall give the Holder Purchaser at least 2 5 business day's advance notice of the above information. On or before the date by which the Holder Purchaser is to deliver the original Debentures to the Escrow Agent, the Company shall wire to the Escrow Agent that amount necessary to pay effect the Holder to effectuate the mandatory redemption. Once the Escrow Agent is in receipt of the original Debentures being redeemed and those funds necessary to effectuate effect the mandatory conversion he redemption the Escrow Agent shall wire those funds to the Holder Purchaser and deliver to the Company the original Debentures via overnight couriercourier to th Company. The Holder shall not be entitled to send a Conversion Notice to the Company with With respect to that portion of the Debentures being redeemed, provided sufficient funds are on deposit with the Escrow Agent on the redemption date as herein described, then in such event, after the date of redemption, interest shall cease to accrue on those Debentures being redeemed during such periodand the Purchaser shall have no further rights as to those Debentures being redeemed other than the right to receive payments on the redemption date.

Redemption Terms. The Company reserves the right, at its sole option, to call a mandatory redemption of any percentage of the balance on the Debentures during the two one hundred ten twenty (210120) day period following the Closing Date. In the event the Company exercises such right of redemption up to and including the two one hundred tenth twentieth (130th120/th/) day following the Closing Date it shall pay the HolderPurchaser, in U.S. currency One Hundred Thirty Twenty-five Percent (130125%) of the face amount of the Debentures redeemed. Mandatory redemption by the Company shall be effected by the Company notifying the Holder Purchaser by facsimile at the number listed in the Subscription this Agreement of the Company's intention to exercise its right of mandatory redemption. The Company shall state in such notice the dollar amount of the Debentures it intends to redeem, the amount that it will pay to effectuate such redemption and the date by which the Holder Purchaser must deliver the Debentures to Xxxxxx X. XxXxxxx, Escrow Agent (including the Escrow Agent's address) unless the Company is already in receipt of those Debentures to be redeemed. The date by which the Debentures must be delivered to the Escrow Agent shall not be later than 10 business days following the date the Company notifies the Holder Purchaser by facsimile of the redemption. The Company shall give the Holder Purchaser at least 2 business day's notice of the above information. On or before the date by which the Holder Purchaser is to deliver the original Debentures to the Escrow Agent, the Company shall wire to the Escrow Agent that amount necessary to pay the Holder Purchaser to effectuate the mandatory redemption. Once the Escrow Agent is in receipt of the original Debentures and those funds necessary to effectuate the mandatory conversion he shall wire those funds to the Holder Purchaser and deliver to the Company the original Debentures via overnight courier. The Holder Purchaser shall not be entitled to send a Conversion Notice to the Company with respect to the Debentures being redeemed during such period.