Examples of Redemption Call Right in a sentence
The Liquidation Call Right, the Retraction Call Right and the Redemption Call Right are hereby acknowledged and confirmed by the Parties, and it is agreed and acknowledged that such rights are granted as part of the consideration for the obligations of CSAC and Exchangeco under this Agreement.
If CSAC does not exercise the Redemption Call Right in the manner described above, on the Redemption Date or the Later Redemption Date, as applicable, the holders of the Exchangeable Shares so redeemed by Exchangeco will be entitled to receive in exchange therefor the Redemption Price otherwise payable by Exchangeco pursuant to Article 8 of the Exchangeable Share Provisions.
If CSAC exercises the Redemption Call Right then, on the Redemption Date or the Later Redemption Date, as applicable, CSAC will purchase and the Exchangeable Shareholders (other than any Exchangeable Shareholder which is an Affiliate of CSAC) will sell all of the Exchangeable Shares then outstanding on the Redemption Date or the Later Redemption Date, as applicable, for a price per Exchangeable Share equal to the Redemption Call Purchase Price.
To exercise the Redemption Call Right, CSAC must notify (i) Exchangeco of CSAC’s intention to exercise such right within five Business Days of receiving the Redemption Notice from Exchangeco in accordance with Section 8.2(a) of the Exchangeable Share Provisions and (ii) the Exchangeable Shareholders in accordance with Subsection 8.2(b) of the Exchangeable Share Provisions as if references to Exchangeco therein were to CSAC.
In the event of the exercise of the Redemption Call Right by CRC, each Exchangeable Shareholder shall be obligated to sell all the Exchangeable Shares held by the Exchangeable Shareholder to CRC on the Redemption Date or the Later Redemption Date, as applicable, on payment by CRC to the Exchangeable Shareholder of the Redemption Call Purchase Price for each such Exchangeable Share, and Exchangeco shall have no obligation to redeem such Exchangeable Shares so purchased by CRC.