Common use of Terms of Redemption Clause in Contracts

Terms of Redemption. The redemption price for each Preferred Unit under any subsection of this Section 5 shall be equal to the Liquidation Payment as of the date of redemption and shall be paid by the Company in cash. The Company shall give notice by mail of redemptions to the Preferred Holders at least five calendar days prior to any date of redemption. Such notice (i) shall specify the date of redemption, and (ii) shall be addressed to the Preferred Holders at the Preferred Holders' address as shown on the records of the Company. If the Company deposits, on or prior to any date fixed for redemption of the Preferred Membership Interest, with any bank or trust company having capital and surplus of at least $50,000,000 as a trust fund, an amount equal to the Liquidation Payment with instructions and authority to such bank or trust company to pay the Liquidation Payment on or after the date fixed for redemption or prior thereto, then, upon the surrender of any certificates (or other evidence of the issuance of the Preferred Membership Interest), from and after the date of such deposit, and notwithstanding that the termination of the Preferred Membership Interest shall not have been memorialized by an appropriate amendment to the governing instruments for the Company, the Preferred Membership Interest shall no longer be deemed to be outstanding and all rights with respect thereto shall forthwith cease and terminate, except only the rights of the Preferred Holders to receive from such bank or trust company at any time after the date of such deposit, the amount of the Liquidation Payment so deposited, without interest. Any funds so deposited and unclaimed at the end of three years from such redemption date shall be released or repaid to the Company, after which the sole right of the Preferred Holders shall be to receive payment of the Liquidation Payment from the Company.

Terms of Redemption. The redemption price for each of the Membership Interest of the Class B Preferred Unit Member under any subsection of this Section 5 3.05 shall be equal to the Liquidation Payment as of the date of redemption Class B Preference Amount and shall be paid by the Company in cash. The Company shall give notice by mail of redemptions to the Class B Preferred Holders Member at least five calendar days prior to any date of redemption. Such notice (i) shall specify the date of redemption, and (ii) shall be addressed to the Class B Preferred Holders Member at the Preferred Holders' such member's address as shown on the records of the Company. If the Company deposits, on or prior to any date fixed for redemption of the Class B Preferred Membership InterestShares, with any bank or trust company having capital and surplus of at least $50,000,000 as a trust fund, an amount equal to the Liquidation Payment Class B Preference Amount with instructions and authority to such bank or trust company to pay the Liquidation Payment Class B Preference Amount on or after the date fixed for redemption or prior thereto, then, upon the surrender of any certificates (or other evidence of the issuance of the Class B Preferred Membership InterestShares), from and after the date of such deposit, and notwithstanding not withstanding that the termination of the Preferred Membership Interest shall not have been memorialized by an appropriate amendment to the governing instruments for the Company, the Preferred Membership Interest of the Class B Preferred Member shall no longer be deemed to be outstanding and all rights with respect thereto shall forthwith cease and terminate, except only the rights of the Class B Preferred Holders Member to receive from such bank or trust company at any time after the date of such deposit, the amount of the Liquidation Payment sum so deposited, without interest. Any funds so deposited and unclaimed at the end of three years from such redemption date shall be released or repaid to the Company, after which the sole right of the Class B Preferred Holders Member shall be entitled to receive payment of the Liquidation Payment Class B Preference Amount only from the Company.

Terms of Redemption. The redemption price for each Preferred Unit under any subsection of this Section 5 shall be equal to the Liquidation Payment as of the date of redemption and shall be paid by the Company in cash. The Company shall give notice by mail of redemptions to the Preferred Holders at least five calendar days prior to any date of redemption. Such notice (i) shall specify the date of redemption, and (ii) shall be addressed to the Preferred Holders at the Preferred Holders' ’ address as shown on the records of the Company. If the Company deposits, on or prior to any date fixed for redemption of the Preferred Membership Interest, with any bank or trust company having capital and surplus of at least $50,000,000 as a trust fund, an amount equal to the Liquidation Payment with instructions and authority to such bank or trust company to pay the Liquidation Payment on or after the date fixed for redemption or prior thereto, then, upon the surrender of any certificates (or other evidence of the issuance of the Preferred Membership Interest), from and after the date of such deposit, and notwithstanding that the termination of the Preferred Membership Interest shall not have been memorialized by an appropriate amendment to the governing instruments for the Company, the Preferred Membership Interest shall no longer be deemed to be outstanding and all rights with respect thereto shall forthwith cease and terminate, except only the rights of the Preferred Holders to receive from such bank or trust company at any time after the date of such deposit, the amount of the Liquidation Payment so deposited, without interest. Any funds so deposited and unclaimed at the end of three years from such redemption date shall be released or repaid to the Company, after which the sole right of the Preferred Holders shall be to receive payment of the Liquidation Payment from the Company.

Terms of Redemption. The redemption price for each of the Membership Interest of the Class A Preferred Unit Member under any subsection of this Section 5 3.05 shall be equal to the Liquidation Payment as of the date of redemption Class A Preference Amount and shall be paid by the Company in cash. The Company shall give notice by mail of redemptions to the Class A Preferred Holders Member at least five calendar days prior to any date of redemption. Such notice (i) shall specify the date of redemption, and (ii) shall be addressed to the Class A Preferred Holders Member at the Preferred Holders' such member's address as shown on the records of the Company. If the Company deposits, on or prior to any date fixed for redemption of the Class A Preferred Membership InterestShares, with any bank or trust company having capital and surplus of at least $50,000,000 as a trust fund, an amount equal to the Liquidation Payment Class A Preference Amount with instructions and authority to such bank or trust company to pay the Liquidation Payment Class A Preference Amount on or after the date fixed for redemption or prior thereto, then, upon the surrender of any certificates (or other evidence of the issuance of the Class A Preferred Membership InterestShares), from and after the date of such deposit, and notwithstanding not withstanding that the termination of the Preferred Membership Interest shall not have been memorialized by an appropriate amendment to the governing instruments for the Company, the Preferred Membership Interest of the Class A Preferred Member shall no longer be deemed to be outstanding and all rights with respect thereto shall forthwith cease and terminate, except only the rights of the Class A Preferred Holders Member to receive from such bank or trust company at any time after the date of such deposit, the amount of the Liquidation Payment sum so deposited, without interest. Any funds so deposited and unclaimed at the end of three years from such redemption date shall be released or repaid to the Company, after which the sole right of the Class A Preferred Holders Member shall be entitled to receive payment of the Liquidation Payment Class A Preference Amount only from the Company.