Redemption Upon Death or Disability. Within 60 days of the death or Total Permanent Disability of a holder who is a natural person (a “Holder Redemption Event”), the estate of such Holder, such Holder, or legal representative of such Holder may request that the Company repurchase, in whole but not in part, the Class B Bonds held or beneficially held by such Holder (including Class B Bonds of such Person held or beneficially held in his or her individual retirement accounts) as prescribed in the Indenture.
Redemption Upon Death or Disability. Within 60 days of the death or total permanent disability of a Bondholder who is a natural person, the estate of such Bondholder, such Bondholder, or legal representative of such Bondholder may request that we repurchase, in whole but not in part, the Bonds held by such Bondholder by delivering to us a written notice requesting such Bonds be redeemed. Any such request shall specify the event giving rise to the right of the holder or beneficial holder to have his or her Bonds redeemed. If a Bond held jointly by natural persons who are legally married, then such request may be made by (i) the surviving Bondholder upon the death of the spouse, or (ii) the disabled Bondholder (or a legal representative) upon total permanent disability of the spouse. In the event a Bond is held together by two or more natural persons that are not legally married, neither of these people shall have the right to request that the Company repurchase such Bond unless each Bondholder has been affected by such an event. Upon receipt of redemption request in the event of death or total permanent disability of a Bondholder, we will have 90 days from the date we receive facts or certifications establishing to the reasonable satisfaction of the Company supporting the right to be redeemed to designate a date for the redemption of such Bonds which shall be the last day of the corresponding quarterly period. Within 25 days of the designated date, we will redeem such Bonds at a price per Bond that is equal to $930 plus all accrued and unpaid interest, to but not including the date on which the Bonds are redeemed
Redemption Upon Death or Disability. (a) Subject to subsection (b) below, within 60 days of the death or Total Permanent Disability of a Holder who is a natural person (a “Holder Redemption Event”), the estate of such Holder, such Holder, or legal representative of such Holder may request that the Company repurchase, in whole but not in part, the Bonds held or beneficially held by such Holder (including Bonds of such Holder held or beneficially held in his or her individual retirement accounts), as the case may be, by delivering to the Company a redemption request. Any redemption request shall specify the particular Holder Redemption Event giving rise to the right of the holder or beneficial holder to have his or her securities redeemed by the Company and include evidence thereof (such as a copy of a death certificate). If a Bond is held jointly by natural persons who are legally married, then a redemption request may be made by (i) the surviving holder or beneficial holder upon the occurrence of a Holder Redemption Event arising by virtue of a death, or (ii) the disabled or beneficial holder (or a legal representative) upon the occurrence of a Holder Redemption Event arising by virtue of a Total Permanent Disability. A holder or beneficial holder that is not an individual natural person does not have the right to request repurchase under this Section. In the event a Bond is held together by two or more natural persons that are not legally married, neither of these persons shall have the right to request that the Company repurchase such Bond unless each Bondholder has been affected by such an event. 1 The foregoing notwithstanding, in the event that the Company has not realized gross income from operations in sufficient amounts to recoup those amounts from principal used to pay certain fees of offering the Bonds (specifically, any managing broker-dealer fees, servicing fee, Selling Commissions, and Organization and Offering Expenses) by the date in which a redemption request may be made, the Company may adjust the quarterly payment cap to 5% of aggregate amount owed pursuant to redemption requests, paid over 20 calendar quarters. If the Company realizes sufficient gross income during the period in which redemption payments are being made, the payment schedule will revert back to the quarterly payment cap of 10% of aggregate amount owed pursuant to redemption requests and a schedule of 10 calendar quarters, with any remaining amounts paid in the final payment.
(b) Upon receipt of a redemption ...
