Failure to Redeem definition

Failure to Redeem means the Corporation's failure to redeem all the Series C Preferred Shares on or prior to July 29, 2020 whether or not the Board of Directors has authorized any such redemption and whether or not such redemption is legally permissible or is prohibited by any agreement to which the Corporation is subject.
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Failure to Redeem means the failure of the Company to redeem, on the applicable date, all of the Series G Preferred Shares required to be redeemed on a Mandatory Redemption Date pursuant to Section 6(a) of this Certificate of Designations, whether or not the Board of Directors has authorized any such redemption and whether or not such redemption is legally permissible or is prohibited by any agreement to which the Company is subject.
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Failure to Redeem means any failure by the Corporation to redeem shares of the Series B Preferred Stock in accordance with the provisions of paragraph 5(b) or paragraph 5(c), other than a failure to redeem pursuant to Section 9.2(e)(iv) of the Purchase and Sale Agreement.
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Examples of Failure to Redeem in a sentence

  • MSA: The MSA shall be amended so that the MSA will terminate automatically upon a Failure to Redeem.

  • Upon a Failure to Redeem, the current chief executive officer of FEGP shall automatically be removed and the Board shall appoint a new chief executive officer of FEGP.

  • In addition, upon a Failure to Redeem, (x) Section 6.2(c)(i) shall be amended such that an MEC Director (as defined in the FEGP LLC Agreement) does not have the right to be on the Synergy and Conflicts Committee and (y) Section 6.4(d) shall be amended such that MEC (as defined in the FEGP LLC Agreement) does not have the right to designate an observer to attend meetings of the Synergy and Conflicts Committee.

  • A failure to redeem all the Series C Preferred Shares on or prior to January 30, 2017 shall constitute a Failure to Redeem.

  • The Company shall promptly inform each Holder when a Cross Default or Failure to Redeem has occurred, and when such Cross Default or Failure to Redeem has ceased.

  • Section 2(a) shall not apply during a Cross Default or Failure to Redeem.

  • If a Cross Default and Failure to Redeem ceases to exist, the Dividend Rate payable on the Series G Preferred Shares shall be 0%, effective as of the date such Cross Default and Failure to Redeem ceases to exist (as evidenced by the delivery of an Officer’s Certificate by the Company to the Holders), and Section 2(a) shall apply.

  • Effective as of the date of a Cross Default or Failure to Redeem, and without duplication if more than one such event has occurred and is continuing at any time, dividends on each Series G Preferred Share shall be cumulative and shall accrue at the Dividend Rate from the date of the Cross Default or Failure to Redeem, whether or not such dividends shall have been declared, and whether or not there are profits, surplus, or other funds legally available for the payment of dividends.


More Definitions of Failure to Redeem

Failure to Redeem means the Corporation's failure to redeem all the Series B Preferred Shares on or prior to June 30, 2015, whether or not the Board of Directors has authorized any such redemption and whether or not such redemption is legally permissible or is prohibited by any agreement to which the Corporation is subject.
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Failure to Redeem means the failure of the Corporation (or its successor) to redeem, pursuant to Section 6(b), all the Series A Preferred Shares elected by Holders to be redeemed pursuant to Section 6(b)(1)(ii) upon the consummation of a Change of Control, whether or not the Board of Directors has authorized any such redemption and whether or not such redemption is legally permissible or is prohibited by any agreement to which the Corporation (or its successor) is subject.
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