Common use of Redemption Upon Change of Control Clause in Contracts

Redemption Upon Change of Control. No sooner than 15 days nor later than 10 days prior to the consummation of a Change of Control, the Maker shall deliver written notice of such Change of Control to the Payee (a “Change of Control Notice”). At any time during the period beginning after the Payee’s receipt of a Change of Control Notice and ending on the day immediately preceding the consummation of such Change of Control, the Payee may require the Maker to redeem all or any portion of this Note by delivering written notice thereof (a “Change of Control Redemption Notice”) to the Maker, which Change of Control Redemption Notice shall indicate the portion of the outstanding principal amount of this Note that the Payee is electing to redeem. The portion of this Note subject to redemption pursuant to this Section 4 shall be redeemed by the Maker at a price equal to 110% of the principal amount being redeemed, plus accrued but unpaid interest on such principal amount (the “Change of Control Redemption Price”). Redemptions required by this Section 4 shall be made on the date of the consummation of the Change of Control and shall have priority to payments to shareholders of the Maker in connection with such Change of Control. Notwithstanding anything to the contrary in this Section 4, until the Change of Control Redemption Price is paid in full, the principal amount submitted for redemption under this Section 4 (together with any accrued but unpaid interest thereon) may be converted, in whole or in part, by the Payee into Common Stock pursuant to Section 3. If the cash funds of Maker then legally available for payment of the Change of Control Redemption Price are insufficient to pay in full the Change of Control Redemption Price, those funds which are legally available will be used to redeem the maximum portion of this Note subject to redemption, with the remaining portion of the Note remaining outstanding and entitled to the rights and benefits provided for herein.

Redemption Upon Change of Control. No sooner than 15 days nor later than 10 days prior to the consummation of a Change of Control, the Maker shall deliver written notice of such Change of Control to the Payee (a “Change of Control Notice”). At any time during the period beginning after the Payee’s receipt of a Change of Control Notice and ending on the day immediately preceding date of the consummation of such Change of Control, the Payee may require the Maker to redeem all or any portion of this Note by delivering written notice thereof (a “Change of Control Redemption Notice”) to the Maker, which Change of Control Redemption Notice shall indicate the portion of the outstanding principal amount of this Note that the Payee is electing to redeem. The portion of this Note subject to redemption pursuant to this Section 4 shall be redeemed by the Maker at a price equal to 110% of the principal amount being redeemed, plus accrued but unpaid interest on such principal amount (the “Change of Control Redemption Price”). Redemptions required by this Section 4 shall be made on the date of the consummation of the Change of Control and shall have priority to payments to shareholders of the Maker in connection with such Change of Control. Notwithstanding anything to the contrary in this Section 4, until the Change of Control Redemption Price is paid in full, the principal amount submitted for redemption under this Section 4 (together with any accrued but unpaid interest thereon) may be converted, in whole or in part, by the Payee into Common Stock pursuant to Section 3. If the cash funds of Maker then legally available for payment of the Change of Control Redemption Price are insufficient to pay in full the Change of Control Redemption Price, those funds which are legally available will be used to redeem the maximum portion of this Note subject to redemption, with the remaining portion of the Note remaining outstanding and entitled to the rights and benefits provided for herein.

Redemption Upon Change of Control. No sooner than 15 days nor later than 10 days prior to In the consummation event of a Change of Control, the Maker shall deliver written notice Obligor will, to the extent of funds legally available therefore and subject to the prior payment in full of all other obligations (including, without limitation, Senior Debt) that are then due or become due as a result of such Change of Control make an offer to redeem (the "Change Of Control Offer") all of the Notes then Outstanding at a purchase price in cash equal to the Payee then applicable Redemption Price, plus accrued and unpaid interest thereon, to the date of redemption. Within 30 days following the occurrence of any Change of Control, notice by first-class mail, postage prepaid, shall be given to each Holder to be redeemed at his or her last address as the same appears on the Securities Register. Such notice shall state: (i) that a “Change of Control Notice”has occurred and that the Holders have the right to require the Obligor to redeem all or a portion of their Notes at a purchase price in cash equal to the Redemption Price which would then be applicable if such redemption was being effected pursuant to Section 10.05 of the Indenture (the "Change of Control Redemption Price") to the date of purchase (the "Change of Control Purchase Date"). At any time during , which shall be a Business Day, specified in such notice, that is not earlier than 30 days or later than 60 days from the period beginning date such notice is mailed; (ii) that payment will be made upon presentation and surrender of the Notes; (iii) that accrued and unpaid interest thereon to the Change of Control Purchase Date will be paid; (iv) that on and after the Payee’s receipt A-4 Change of Control Purchase Date, interest will cease to accrue on such Notes so redeemed; and (v) such other information as is specified in Sections 10.01 through 10.04 of the Indenture. Any notice of a Change of Control Notice and ending on Offer which is mailed as herein provided shall be conclusively presumed to have been duly given, whether or not the day immediately preceding Holder receives such notice. On or after the consummation date fixed for redemption as stated in such notice of a Change of Control Offer, each Holder electing to accept such Change of Control, Control Offer shall surrender the Payee may require the Maker to redeem all or any portion of this Note by delivering written notice thereof (a “Change of Control Redemption Notice”) Notes to the Maker, which Change of Control Redemption Notice shall indicate Obligor at the portion of the outstanding principal amount of this Note that the Payee is electing to redeem. The portion of this Note subject to redemption pursuant to this Section 4 shall be redeemed by the Maker at a price equal to 110% of the principal amount being redeemed, plus accrued but unpaid interest on place designated in such principal amount (the “Change of Control Redemption Price”). Redemptions required by this Section 4 shall be made on the date of the consummation of the Change of Control notice and shall have priority thereupon be entitled to payments to shareholders of the Maker in connection with such Change of Control. Notwithstanding anything to the contrary in this Section 4, until the Change of Control Redemption Price is paid in full, the principal amount submitted for redemption under this Section 4 (together with any accrued but unpaid interest thereon) may be converted, in whole or in part, by the Payee into Common Stock pursuant to Section 3. If the cash funds of Maker then legally available for receive payment of the Change of Control Redemption Price are insufficient Price. If the Holder elects to pay in full have redeemed less than the Change of Control Redemption Priceentire principal amount represented by any such Notes, those funds which are legally available will a new Note shall be used to redeem issued representing the maximum portion of this Note subject to redemption, with the remaining portion of the Note remaining outstanding and entitled to the rights and benefits provided for hereinprincipal amount not so redeemed.