Retraction. Any holder of Series 2 Special Shares shall be entitled to require the Company to redeem, subject to the requirements of the Business Corporations Act (British Columbia), at any time or times all or any of the Series 2 Special Shares registered in the name of such holder on the books of the Company by tendering to the Company at the registered office of the Company a share certificate or certificates representing the Series 2 Special Shares which the registered holder desires to have the Company redeem together with a notice in writing specifying (i) that the registered holder desires to have the Series 2 Special Shares represented by such certificate or certificates redeemed by the Company and (ii) the business day (“Retraction Date”) on which the holder desires to have the Company redeem such Series 2 Special Shares. The Retraction Date shall not be less than 30 days after the day on which the notice in writing is given to the Company without the consent of the Company. Upon receipt of a share certificate or certificates representing the Series 2 Special Shares which the registered holder desires to have the Company redeem together with such notice, the Company shall on the Retraction Date redeem such Series 2 Special Shares, by paying to such registered holder the Redemption Amount for each such Special Preferred Share being redeemed. Such payment shall be made by a promissory note or a cheque payable at par at any branch of the Company’s bankers for the time being in Canada. If less than all of the Series 2 Special Shares represented by any certificate are redeemed, the holder shall be entitled to receive a new certificate for that number of Series 2 Special Shares represented by the original certificate or certificates which are not redeemed. The said Series 2 Special Shares shall be redeemed on the Retraction Date and from and after the Retraction Date the holder of such shares shall cease to be entitled to dividends and shall not be entitled to exercise any of the rights of holders of Series 2 Special Shares in respect thereof unless payment of the Redemption Amount is not made on the Retraction Date, in which event the rights of the holder of the Series 2 Special Shares shall remain unaffected.
Retraction. The process by which City Management removes material, specifically including that of a detrimental nature relating to a specific incident regarding an employee, from all City files.
Retraction. (a) Subject to the Act, a holder of First Preferred Shares shall be entitled, at such holder's option, to require the Corporation to redeem the First Preferred Shares registered in the name of such holder on the books of the Corporation upon payment for each share to be redeemed of an amount equal to the Redemption Amount together with an amount equal to all unpaid cumulative dividends, whether or not declared, which shall have accrued thereon and which for such purposes shall be treated as accruing up to, but excluding, the date of redemption (the Redemption Amount plus such unpaid dividends, the “Retraction Price”), if:
Retraction. VMI hereby agrees with the Investors that in the event funds are available in excess of VMI's working capital requirements, then VMI shall at such time such excess funds are available, if any, and prior to June 30, 2001, retract the sale of the Preferred Stock pursuant to the Subscription Agreement to the extent of such excess funds, by refunding to the Investors the amount of such excess funds (to a maximum of the amount of the Escrowed Funds disbursed to VMI) and instructing the Escrow Agent to return to the Investors the balance of any Escrowed Funds, if any, together with all accrued and unpaid dividends on such Preferred Stock to the date(s) of such repayment/return of such amounts. The amount of any accrued interest on the balance of the Escrowed Funds so returned to the Investors shall be credited towards the amount of accrued dividends to be paid to Investors by VMI on such Preferred Stock. As conditions to any such retraction, Investors shall deliver to VMI the number of shares of Preferred Stock previously issued to Investors in the amount so repaid by VMI (and at the original price per share issued to Investors), free and clear of all liens, security interests, claims, pledges and encumbrances of any kind, together with the share certificates representing such shares of Preferred Stock, duly endorsed for transfer, whereupon VMI will cancel such shares. Upon delivery of the balance of such Escrowed Funds to the Investors pursuant to such a return of funds, VMI shall be entitled to instruct the Escrow Agent to return to VMI all certificates representing shares of Preferred Stock held by Escrow Agent and not previously delivered to Investors, whereupon VMI will be entitled to cancel all such shares. In the event any Investor fails to deliver such certificates representing such shares, VMI shall be entitled to deposit the funds with the Escrow Agent under an escrow account for the benefit of such Investor, and thereafter treat such shares of Preferred Stock as cancelled for all purposes. Any outstanding shares of Preferred Stock not retracted or refunded hereunder by June 30, 2001, shall be subject to conversion into Common Stock to the extent set forth in the Articles of Incorporation, as amended, of VMI. Any retraction or refund hereunder shall not affect any Warrants issued under the Subscription Agreement and such Warrants shall remain outstanding regardless of any retraction or refund.
Retraction. Subject to the YBCA, a holder of Preferred Shares shall be entitled to require the Company to redeem at any time on or after the date of issue thereof all or any portion of the Preferred Shares registered in the name of such holder. The Company shall redeem all Preferred Shares duly retracted pursuant to this retraction privilege (as determined by the directors of the Company) at a price per share equal to the Preferred Redemption Price. The “Preferred Redemption Price” of a Preferred Share at any time shall mean $[—]1, plus all dividends declared on the Preferred Shares prior to such time which remain unpaid.
Retraction. 6.1 Beginning in the fourth year after the date of issuance of the Preferred Shares, each Preferred Shareholder shall be able to cause a redemption of the Preferred Shares at the rate of up to 1/15 per year of the initial number of Preferred Shares issued to such Preferred Shareholder.
Retraction. 4.1 Subject to the Act, a holder of Class A Preference Series 1 Shares shall be entitled to require the Corporation to redeem the whole or any part of the Class A Preference Series 1 Shares registered in the name of the holder on the books of the Corporation.
Retraction. On or after the Retraction Date, any outstanding Series E Preferred Shares shall automatically be converted into Common Shares at the Conversion Rate and any accrued and unpaid dividends shall be converted into Common Shares at the Closing Share Price.
Retraction. The Class E Special Shares are retractable as follows:
Retraction. The buyers, non-professional individuals, benefit from a period of seven days after their signature on the proforma sent by Dive And Cruise Limited to cancel without charge. The rebate in this period of seven days does not lead to penalty, except the cost of return set at 15 € per bank transfer. The terms of payment and the price is due upon ordering.
