Redemptions upon Request Sample Clauses

Redemptions upon Request. At any time during the ninety (90) calendar day period following June 1, 2006, and during the ninety (90) calendar day period following June 1, 2007, and provided that a Qualified Public Offering shall not have been consummated, each holder of Shares of Preferred Stock may from time to time request redemption of all or a portion of such holder's Shares by delivering written notice of such request to the Corporation. The Corporation shall be required to redeem all Shares with respect to which redemption requests have been made at a price per Share (the "Redemption Price") equal to: (i) with respect to the Series A Preferred and the Series B Preferred, the Fair Market Value thereof (plus all accrued but unpaid dividends pursuant to Section 1B; and (ii) with respect to the Series C Preferred, the higher of (x) the Series C Liquidation Value (plus all accrued but unpaid dividends pursuant to Section 1B) and (y) the Fair Market Value thereof (plus all accrued but unpaid dividends pursuant to Section 1B). Notwithstanding anything to the contrary in this Section 4A, so long as any shares of Series C Preferred or any security convertible into Series C Preferred remain outstanding or any portion of the Redemption Payment Amount (defined below) (and interest and other amounts owing thereon) is owed by the Corporation in respect of Shares of Series C Preferred, the Corporation shall not pay any portion of the Redemption Payment Amount (defined below), including, without limitation, any payments under a Redemption Note (defined below), in respect of the Shares of Series A Preferred, Series B Preferred or other Junior Securities. As soon as practicable following the final determination of Fair Market Value, but in any event within thirty (30) calendar days thereafter, the Corporation shall deliver to each holder who has submitted a redemption request in accordance with this Section, cash in an amount equal to the product of the applicable per share Redemption Price and the number of Shares being redeemed by such holder (the "Redemption Payment Amount"). In the event that the Corporation cannot reasonably pay all such Redemption Payment Amounts in cash, the Corporation shall deliver to each redeeming holder (1) a promissory note in an original principal amount equal to the Redemption Payment Amount, due on the first anniversary of the date of the applicable holder's redemption notice (the "Final Redemption Payment Date"), accruing interest at the prime rate of interest ...
Sample 1
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Redemptions upon Request. At any time after November 30, 2005, the holders of a majority of the Class A Preferred then outstanding may request redemption of all or any portion of the Shares of Class A Preferred by delivering written notice of such request to the Corporation. Within five days after such request to the Corporation, the Corporation shall give written notice of such request to all other holders of Class A Preferred and such holders may request redemption of all or any portion of their Shares of Class A Preferred by delivering written notice to the Corporation within 10 days after receipt of the Corporation's notice. The Corporation shall be required to redeem the Shares with respect to which such redemption requests have been made at a price per Share equal to the Liquidation Value thereof (plus all accrued and unpaid dividends thereon) within 30 days after receipt of the initial redemption request.
Sample 1

Related to Redemptions upon Request

  • Redemption Requests Receive for acceptance requests and directions from Institutions and Accounts for the redemption of Series shares transmitted or delivered to the office of the Administrator, note the time and date of each request when received, process such requests and directions in accordance with the redemption procedures set forth in the then current Prospectus and Statement of Additional Information ("SAI") of the Series, and deliver the appropriate documentation to the Custodian;

  • Notice of Optional Redemption; Selection of Notes (a) In case the Company exercises its Optional Redemption right to redeem all or, as the case may be, any part of the Notes pursuant to Section 16.01, it shall fix a date for redemption (each, a “Redemption Date”) and it or, at its written request received by the Trustee not less than 5 Business Days prior to the date such Redemption Notice is to be sent (or such shorter period of time as may be acceptable to the Trustee), the Trustee, in the name of and at the expense of the Company, shall deliver or cause to be delivered a notice of such Optional Redemption (a “Redemption Notice”) not less than 35 nor more than 60 Trading Days prior to the Redemption Date to each Holder of Notes so to be redeemed as a whole or in part; provided, however, that if the Company shall give such notice, it shall also give written notice of the Redemption Date to the Trustee, the Conversion Agent (if other than the Trustee) and the Paying Agent (if other than the Trustee). The Redemption Date must be a Business Day. The Company may not specify a Redemption Date that falls on or after the 31st Scheduled Trading Day immediately preceding the Maturity Date.

  • Conversion upon Redemption If the Company calls any Note for Redemption, then the Holder of such Note may convert such Note at any time before the Close of Business on the Business Day immediately before the related Redemption Date (or, if the Company fails to pay the Redemption Price due on such Redemption Date in full, at any time until such time as the Company pays such Redemption Price in full).

  • Transfers of Notes Subject to Redemption, Repurchase or Conversion Notwithstanding anything to the contrary in this Indenture or the Notes, the Company, the Trustee and the Registrar will not be required to register the transfer of or exchange any Note that (i) has been surrendered for conversion, except to the extent that any portion of such Note is not subject to conversion; (ii) is subject to a Fundamental Change Repurchase Notice validly delivered, and not withdrawn, pursuant to Section 4.02(F), except to the extent that any portion of such Note is not subject to such notice or the Company fails to pay the applicable Fundamental Change Repurchase Price when due; or (iii) has been selected for Redemption pursuant to a Redemption Notice, except to the extent that any portion of such Note is not subject to Redemption or the Company fails to pay the applicable Redemption Price when due.

  • Processing Redemption Requests You shall not purchase any share of any of the Funds from a record holder at a price lower than the net asset value next determined by or for the Funds’ shares. You shall, however, be permitted to sell any shares for the account of a shareholder of the Funds at the net asset value currently quoted by or for the Funds’ shares, and may charge a fair service fee for handling the transaction provided you disclose the fee to the record owner.

  • Defaults Upon Senior Securities Information from Item 3 of Part II of Form 10-Q: Report the occurrence of any Event of Default (after expiration of any grace period and provision of any required notice) Trustee 5 Submission of Matters to a Vote of Security Holders Information from Item 4 of Part II of Form 10-Q Party submitting the matter to Holders for vote 6 Significant Obligors of Pool Assets Item 1112(b) –Significant Obligor Financial Information* N/A *This information need only be reported on the Form 10-D for the distribution period in which updated information is required pursuant to the Item. 7 Significant Enhancement Provider Information Item 1114(b)(2) – Credit Enhancement Provider Financial Information* Determining applicable disclosure threshold Obtaining required financial information or effecting incorporation by reference Depositor Item 1115(b) – Derivative Counterparty Financial Information* Determining current maximum probable exposure Determining current significance percentage Obtaining required financial information or effecting incorporation by reference Depositor *This information need only be reported on the Form 10-D for the distribution period in which updated information is required pursuant to the Items. 8 Other Information Disclose any information required to be reported on Form 8-K during the period covered by the Form 10-D but not reported The Responsible Party for the applicable Form 8-K item as indicated below 9 Exhibits Distribution report Trustee Exhibits required by Item 601 of Regulation S-K, such as material agreements Depositor 8-K Must be filed within four business days of an event reportable on Form 8-K.

  • Redemption of the Debentures SECTION 3.1. Tax Event and Regulatory Capital Event Redemption..................................................... 7 SECTION 3.2. Optional Redemption by Company................................. 8 SECTION 3.3.

  • No Redemption Requirements There are no outstanding contractual obligations (contingent or otherwise) of the Acquiror Company to retire, repurchase, redeem or otherwise acquire any outstanding shares of capital stock of, or other ownership interests in, the Acquiror Company or to provide funds to or make any investment (in the form of a loan, capital contribution or otherwise) in any other Person.

  • REPAYMENT OF CERTAIN FUNDS UPON CONVERSION Any funds which at any time shall have been deposited by the Company or on its behalf with the Trustee or any other paying agent for the purpose of paying the principal of, and premium, if any, and interest, if any, on any of the Securities (including, but not limited to, funds deposited for the sinking fund referred to in Article Twelve hereof and funds deposited pursuant to Article Thirteen hereof) and which shall not be required for such purposes because of the conversion of such Securities as provided in this Article Fourteen shall after such conversion be repaid to the Company by the Trustee upon the Company's written request. ARTICLE FIFTEEN

  • Payment Upon Redemption (a) If the giving of notice of redemption shall have been completed as above provided, the Securities or portions of Securities of the series to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with interest accrued to the date fixed for redemption and interest on such Securities or portions of Securities shall cease to accrue on and after the date fixed for redemption, unless the Company shall default in the payment of such redemption price and accrued interest with respect to any such Security or portion thereof. On presentation and surrender of such Securities on or after the date fixed for redemption at the place of payment specified in the notice, said Securities shall be paid and redeemed at the applicable redemption price for such series, together with interest accrued thereon to the date fixed for redemption (but if the date fixed for redemption is an interest payment date, the interest installment payable on such date shall be payable to the registered holder at the close of business on the applicable record date pursuant to Section 2.03).

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