Common use of Redemptions of Less than All Shares Clause in Contracts

Redemptions of Less than All Shares. If the Corporation is redeeming less than all of the shares of Series B Preferred Stock then outstanding, the Corporation shall redeem such number of shares of Series B Preferred Stock and each class or series of Parity Stock required to be redeemed, if any, such that the amount payable to each holder of Series B Preferred Stock and Parity Stock in respect of such shares of Series B Preferred Stock and/or Parity Stock, as the case may be, upon a Liquidation Event immediately after consummation of such redemption bears, as nearly as practicable, the same proportion to the total amount payable to holders of Series B Preferred Stock and Parity Stock upon a Liquidation Event in respect of such shares immediately prior to consummation of such redemption. In the event that, for any holder of Series B Preferred Stock, fewer than the total number of shares of Series B Preferred Stock represented by any certificate are redeemed, a new certificate representing the number of unredeemed shares of Series B Preferred Stock shall be issued to the holder thereof without cost to such holder within five Business Days after surrender of the certificate representing the redeemed shares of Series B Preferred Stock.

Redemptions of Less than All Shares. If the Corporation is redeeming less than all of the shares of Series B A Preferred Stock then outstanding, the Corporation shall redeem such number of shares of Series B A Preferred Stock and each class or series of Parity Stock required to be redeemed, if any, such that the amount payable to each holder of Series B A Preferred Stock and Parity Stock in respect of such shares of Series B A Preferred Stock and/or Parity Stock, as the case may be, upon a Liquidation Event immediately after consummation of such redemption (and after giving effect to any conversion in connection with such redemption) bears, as nearly as practicable, the same proportion to the total amount payable to holders of Series B A Preferred Stock and Parity Stock upon a Liquidation Event in respect of such shares immediately prior to consummation of such redemption (and after giving effect to any conversion in connection with such redemption). In the event that, for any holder of Series B A Preferred Stock, fewer than the total number of shares of Series B A Preferred Stock represented by any certificate are redeemed, a new certificate representing the number of unredeemed shares of Series B A Preferred Stock shall be issued to the holder thereof without cost to such holder within five Business Days after surrender of the certificate representing the redeemed shares of Series B A Preferred Stock.

Redemptions of Less than All Shares. If the Corporation is redeeming elects to redeem less than all of the shares of Series B A Preferred Stock then outstandingStock, the Corporation shall redeem such aggregate number of shares of Series B A Preferred Stock and each class or series of Parity Stock required to be redeemed, if any, redeemed shall be determined by the Corporation with respect to the holders of Series A Preferred Stock and holders of Parity Stock such that the aggregate amount payable to each such holder of Series B Preferred Stock and Parity Stock in respect of such shares of Series B A Preferred Stock and/or Parity Stock, as the case may be, upon a Liquidation Event immediately after consummation of such redemption (and after giving effect to any conversion in connection with such redemption) bears, as nearly as practicable, the same proportion to the total amount payable to holders of Series B A Preferred Stock and Parity Stock upon a Liquidation Event in respect of such shares immediately prior to consummation of such redemption (and after giving effect to any conversion in connection with such redemption). In the event that, for any holder of that the Series B A Preferred Stock, Stock is certificated and fewer than the total number of shares of Series B A Preferred Stock represented by any certificate are redeemed, a new certificate representing the number of unredeemed shares of Series B A Preferred Stock shall be issued to the holder thereof without cost to such holder within five Business Days business days after surrender of the certificate representing the redeemed shares of Series B A Preferred Stock.