Voluntary Redemption. The Company shall have the right to redeem the Securities, in accordance with the following schedule: i. If all of the Securities are redeemed within ninety (90) calendar days from the issuance date thereof, the Company shall have the right to redeem the Securities upon five (5) business days’ of written notice at a price equal to the product of one hundred and fifteen percent (115%) multiplied by the sum of the outstanding Stated Value together with any accrued but unpaid dividends; ii. If all of the Securities are redeemed after ninety (90) calendar days and within one hundred twenty (120) calendar days from the issuance date thereof, the Company shall have the right to redeem the Securities upon five (5) business days of written notice at a price equal to the product of one hundred and twenty percent (120%) multiplied by the sum of the outstanding Stated Value together with any accrued but unpaid dividends; and iii. If all of the Securities are redeemed after one hundred and twenty (120) calendar days and within one hundred eighty (180) calendar days from the issuance date thereof, the Company shall have the right to redeem the Securities upon five (5) business days of written notice at a price equal to the product of one hundred and twenty five percent (125%) multiplied by the sum of the outstanding Stated Value together with any accrued but unpaid dividends. iv. The Company shall honor all conversions of Preferred Stock until the receipt by the Purchaser of the applicable redemption amounts set forth in this Section 4.10.
Appears in 10 contracts
Samples: Securities Purchase Agreement (Renavotio, Inc.), Securities Purchase Agreement (Renavotio, Inc.), Securities Purchase Agreement (LGBTQ Loyalty Holdings, Inc.)
