Redemption Default definition

Redemption Default shall have the meaning as set forth in Section 2.2(g)(i).

Redemption Default has the meaning set forth in Section 2(c)(ii) hereof.

Redemption Default means the failure to redeem the Series C ------------------ Preferred Stock and pay the Redemption Price in full in accordance with Section ------- 8 on the Redemption Date. -

Examples of Redemption Default in a sentence

• Subject to the cure provisions of Section 2.2(h)(ii) below, a Default Period with respect to a Dividend Default or a Redemption Default on a Series of MuniFund Term Preferred Shares shall end on the Business Day on which, by 12:00 noon, New York City time, an amount equal to all unpaid dividends on such Series and any unpaid Redemption Price on such Series shall have been deposited irrevocably in trust in same-day funds with the Redemption and Paying Agent.

• No Redemption Default shall be deemed to have occurred if the Corporation shall fail to deposit in trust with the Redemption and Paying Agent the Redemption Price with respect to any shares where (1) the Notice of Redemption relating to such redemption provided that such redemption was subject to one or more conditions precedent and (2) any such condition precedent shall not have been satisfied at the time or times and in the manner specified in such Notice of Redemption.

• No Redemption Default shall be deemed to have occurred if the Fund shall fail to deposit in trust with the Redemption and Paying Agent the Redemption Price with respect to any shares where (1) the Notice of Redemption relating to such redemption provided that such redemption was subject to one or more conditions precedent and (2) any such condition precedent shall not have been satisfied at the time or times and in the manner specified in such Notice of Redemption.

• Subject to the cure provisions of Section 2.2(g)(ii) below, a Default Period with respect to a Dividend Default or a Redemption Default on a Series of Term Preferred Shares shall end on the Business Day on which, by 12:00 noon, New York City time, an amount equal to all unpaid dividends on such Series and any unpaid Redemption Price on such Series shall have been deposited irrevocably in trust in same-day funds with the Redemption and Paying Agent.

• Subject to the cure provisions of Section 2(c)(iii) below, a Default Period with respect to a Dividend Default or a Redemption Default shall end on the Business Day on which, by 12:00 noon, New York City time, all unpaid dividends and any unpaid Redemption Price shall have been deposited irrevocably in trust in same-day funds with the Paying Agent.

More Definitions of Redemption Default

Redemption Default shall have the meaning set forth in Section 8(b).

Redemption Default means the failure by the Company to redeem Series A Preferred Shares in accordance with Section 6(a) or Section 6(b) of the Certificate of Designations for any reason, and such failure in such redemption of such shares shall have continued for at least fifteen (15) days.

Redemption Default shall have the meaning as set forth in Section 2.2(g)(B).

Redemption Default has the meaning set forth in the Stockholders' Agreement.

Redemption Default means the non-payment in full of all payments due by the Partnership when and as such payments become due in connection with the events described under Section 3 of this Certificate of Designation.

Redemption Default has the meaning set forth in paragraph 2(e)(ii) of Part I of this Section 11.1.

Redemption Default means the non-payment in full of all payments due by the Corporation, when and as such payments become due, in connection with (i) the exercise of a Put Option (as defined in the Securities Purchase Agreement) by a holder of shares of Series A Preferred, (ii) the exercise of a Call Option (as defined in the Securities Purchase Agreement) by the Corporation or (iii) the consummation of a Restricted Property Transaction (as defined in the Securities Purchase Agreement).