Redemption Election definition
Examples of Redemption Election in a sentence
If a Participant makes a Redemption Election with respect to an Award and the Investment relating to such Award is not Liquid as of the applicable Window Redemption Date, then such Redemption Election shall be void and of no effect.
Any such election (a "Redemption Election") must specify the Award to which such election relates and the number of such Participant's unredeemed Vested PARs under such Award to which such election shall apply.
Upon receipt of a Redemption Election, the Company shall designate the Redemption Date for such Investment Debt Security, which Redemption Date shall be no more than 15 days after the Company's receipt of the Redemption Election, and shall pay the Redemption Price to the estate of the Holder or the Holder, as the case may be, in accordance with the provisions set forth in Section 2.7 hereof.
The Compulsory Redemption Election Fee will be used to pay costs and expenses related to the Holder changing their election.
If the Investor timely makes a Fundamental Change Forced Redemption Election, then the Partnership will redeem all of the Outstanding Series A Preferred Units for cash and Common Units in an amount per Outstanding Series A Preferred Unit equal to the Fundamental Change Redemption Consideration.
In any case, failure to give such Company Redemption Election Notice by mail or any defect in such Company Redemption Election Notice to the Holder of any Debentures designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Debentures.
A Company Redemption Election Notice, if mailed in the manner herein provided, shall be conclusively presumed to have been duly given, whether or not the Holder receives such Company Redemption Election Notice.
To exercise its right to redemption pursuant to this Section 5.13(d)(i), a Class D Preferred Unit Holder must deliver a written notice of such exercise (a “Class D CoC Redemption Election Notice”) to the Partnership prior to the 90th day following the occurrence of such Class D Change of Control, which Class D CoC Redemption Election Notice shall set forth the number of Class D Preferred Units such Class D Preferred Unit Holder elects to have redeemed by the Partnership pursuant to this Section 5.13(d)(i).
Further, the settlement decisions made by the Redemption Election Committee will be solely in the Company’s control and cannot be overridden or vetoed by other board members, including Mr. Avellan.
Upon receipt by the Corporation of the Redemption Election, the Corporation shall not declare or pay any dividend until the redemption of all shares of the Preferred Stock have been completed in full.