Optional Redemption Right definition

Optional Redemption Right shall have the meaning set forth in Section 2.03 hereof.

Optional Redemption Right shall have the meaning assigned to such term in the Amendment to the Articles.

Optional Redemption Right shall have the meaning set forth in Section 5(b) hereof.

Examples of Optional Redemption Right in a sentence

• If fewer than all of the outstanding shares of Series A Preferred Stock are to be redeemed pursuant to the Optional Redemption Right, the shares to be redeemed shall be selected pro rata (as nearly as practicable without creating fractional shares) or by lot or in such other equitable method prescribed by the Corporation.

• The Company shall also cause notice of redemption (whether pursuant to the Optional Redemption Right or the Special Optional Redemption Right) to be published in a newspaper of general circulation in the City of New York at least once a week for two successive weeks commencing not less than 30 days nor more than 60 days prior to the cash redemption date.

• The Company may exercise its Special Optional Redemption Right by notifying holders of such redemption in any Change of Control Notice complying with the requirements of Section 8(c).

• Except as provided herein, the Corporation shall make no payment or allowance for unpaid dividends, whether or not in arrears, on Series A Preferred Stock for which a notice of redemption pursuant to the Special Optional Redemption Right has been given.

• If, prior to the Change of Control Conversion Date, the Corporation has provided or provides notice of redemption with respect to all of the Series A Preferred Stock (whether pursuant to the Redemption Right or the Special Optional Redemption Right), the holders of shares of Series A Preferred Stock will not have the conversion right described below in Section 9.

More Definitions of Optional Redemption Right

Optional Redemption Right shall have the meaning set forth in Section 7.

Optional Redemption Right has the meaning set forth under Section 2.09.

Optional Redemption Right shall have the meaning set forth in Section 8(a). “Original Issue Date” shall mean, with respect to a share of Series C Preferred Stock, the date of the first issuance of any such share of Series C Preferred Stock regardless of the number of transfers of any such share of Series C Preferred Stock and regardless of the number of certificates which may be issued to evidence such Series C Preferred Stock. “Payment Period” shall mean, with respect to a share of Series C Preferred Stock, the period beginning on the day after the preceding Dividend Payment Date (or if no Dividend Payment Date has occurred since the Original Issue Date of such share of Series C Preferred Stock, the Original Issue Date) to and including the next Dividend Payment Date; provided that, for the purpose of determining the amount of Accrued Dividends for any Payment Period, the Payment Period shall be calculated based on the actual number of days elapsed during such Payment Period on a 360- day year consisting of twelve 30-day months. “Person” shall mean any individual, company, partnership, limited liability company, joint venture, association, joint stock company, trust, unincorporated organization, government or agency or political subdivision thereof or any other entity. “Preferred Stock” shall mean any and all series of preferred stock of the Company, including the Series C Preferred Stock. “Purchase Agreement” shall mean the Securities Purchase Agreement, dated on or about April 9, 2024, among the Company and the Holders, as amended, modified or supplemented from time to time in accordance with its terms. “Purchase Rights” shall have the meaning set forth in Section 9(b). “Purchaser” shall mean any purchaser of Series C Preferred Stock. “Register” shall mean the securities register maintained in respect of the Series C Preferred Stock by the Company.

Optional Redemption Right has the meaning set forth in the Certificate of Designations.

Optional Redemption Right means the right specified in Condition 8(d);

Optional Redemption Right has the meaning set forth in Section 5.02.

Optional Redemption Right has the meaning set forth in Section 6.1;