Common use of Special Redemption Clause in Contracts

Special Redemption. Notwithstanding the foregoing, in the event that (i) in the sole judgment of the Company, the Acquisition will not be consummated by March 11, 2003, then the Company may redeem the Securities, in whole but not in part, at its sole option on or prior to March 11, 2003, upon one Business Day's notice, at a redemption price (the "Special Redemption Price") in cash equal to 100% of the issue price of the Securities plus accrued and unpaid interest to the Special Redemption Date or (ii) the Acquisition has not been consummated on or prior to March 10, 2003, then the Company shall mandatorily redeem all the Securities on March 11, 2003, at the Special Redemption Price. The "Special Redemption Date" means the earlier of (a) the date that the Company elects to redeem all the Securities if, in the sole judgment of the Company, the Acquisition will not be consummated prior to March 11, 2003, or (b) March 11, 2003, if the Acquisition is not consummated on or prior to March 10, 2003 (either redemption, a "Special Redemption").