Stock Redemption definition
Examples of Stock Redemption in a sentence
On the date of such redemption, provided that the Company shall then have paid or caused to be paid in full to the Depositary the redemption price per share of Stock to be redeemed, plus an amount equal to any accrued and unpaid dividends thereon to the date fixed for redemption, in accordance with and as required by the provisions of the Articles (the “Preferred Stock Redemption Price”), the Depositary shall redeem the number of Depositary Shares representing such Stock.
This Stock Redemption Agreement sets forth the entire agreement and understanding between the parties as to the subject matter hereof and supersedes all prior discussions, agreements, and understandings of any and every nature between them.
On the terms and subject to the conditions set forth in this Agreement, on the Closing Date and prior to the Partnership Merger Effective Time, Titanium OP and Titanium shall effect the Titanium OP Preferred Redemption for an amount equal to the Titanium Series J and Series K Preferred Stock Redemption Amount, which amount shall be paid by Titanium OP to Titanium on the Closing Date.
The Redemption Price shall be immediately sent by the Corporation to the Redeeming Shareholder upon receipt of this Stock Redemption Agreement, executed by the Redeeming Shareholder, and the endorsed Stock Certificates.
A signed copy of this Stock Redemption Agreement which is received via facsimile or other electronic transmission shall be given the same effect for all purposes, as if it was an original.
All costs and expenses incurred in connection with the Agreement and the transactions contemplated hereby shall be paid by the Party incurring such costs and expenses, except that the Purchaser shall be responsible to pay 50.0% of the legal fees incurred by the Company in connection with the transactions contemplated by this Agreement and the Stock Redemption Agreements.
Prior to the Closing Date, the Company shall have authorized (i) the issuance and sale of the Purchase Shares to the Investor and (ii) the other transactions comprising the Recapitalization, including the Stock Redemption and the BTAB Financing.
If the Corporation shall have elected, pursuant to this Subsection G(1), to obtain the Required Approvals but shall not have done so by the later of the occurrence of the Common Stock Redemption Event or the expiration of the Approval Period, it shall furnish a redemption notice to the Purchaser within three (3) business days after the expiration of the Approval Period.
The Parent Stock Redemption shall have been completed in accordance with the terms hereof and the Parent Governing Documents.
Notwithstanding the forgoing, the terms of the Amended and Restated Stock Redemption and Shareholders Agreement of EverBank Financial Corp, the EverBank Profit Sharing and Savings Plan (or any successor plan or plans) and any Option or Restricted Unit Agreements relating thereto to which Employee is a party, and any other benefit plans shall govern the subject matters thereof to the extent not specifically provided otherwise herein.