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Effectiveness of Redemption
Effectiveness of Redemption contract clause examples
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Optional Redemption. At the option of the Maker, at any time prior to payment in full of the unpaid principal balance of this Note, the Maker may elect to redeem: # the unpaid principal balance of this Note, or # a portion thereof, together with any accrued but unpaid interest (the “Redemption Amount”). At least twenty (20) days before the date on which the Maker elects to redeem in accordance with the provisions of this Section 4 (the “Redemption Date”), the Maker shall give the Payee written notice of its intention to exercise this right. On the Redemption Date, the Maker shall repay to the Payee the Redemption Amount.

Partial Redemption. If less than all of the Subordinated Notes are to be redeemed, the Subordinated Notes will be redeemed on a pro rata basis as to the Holders, and if the Subordinated Notes are represented by Global Notes held by DTC and such redemption is processed through DTC, such redemption will be made on a “Pro Rata Pass-Through Distribution of Principal” basis in accordance with the procedures of DTC.

Redemption Amount. At the Closing, the Company will pay to the Preferred Stockholder the Redemption Amount. Payment of the Redemption Amount shall be made on the Closing Date (as defined below) by means of a wire transfer of immediately available funds from the Company or one of its Subsidiaries to accounts designated by the Preferred Stockholder or by check. At the Closing, the Preferred Stockholder will deliver such assignments and other documents as the Company may request to evidence the redemption of the shares of Preferred Stock, including a stock power in the form attached hereto as Exhibit A and the original certificate(s) evidencing all shares of Preferred Stock held by such Seller (or, if such certificate(s) has been lost, a lost certificate affidavit in the form attached hereto as Exhibit B). The Preferred Stockholder acknowledges and agrees that the Redemption Amount represents the full amount that is payable with respect to the Preferred Stock held by the Preferred Stockholder and, from and after the Closing, the Preferred Stockholder, subject to receipt of the Redemption Amount, shall not be entitled to any further payments with respect to their prior ownership of any shares of Preferred Stock.

Redemption Conditions. If Borrower makes a cash payment in respect of Permitted Convertible Debt subject to satisfaction of the Redemption Conditions, Borrower shall, at all times thereafter, maintain Qualified Cash in the amount required by the defined term “Redemption Conditions”.

Partial Redemption. If less than the then outstanding principal amount of this Subordinated Note is redeemed, # a new Subordinated Note shall be issued representing the unredeemed portion without charge to the holder thereof and # such redemption shall be effected on a pro rata basis as to the Noteholders. For purposes of clarity, upon a partial redemption, a like percentage of the principal amount of every Subordinated Note held by every Noteholder shall be redeemed.

Redemption Right. Notwithstanding the holding period set forth in [Section 8.5A] of the Agreement, any Common Units received upon conversion of AOLTIP

Optional Redemption. The Designated Senior Preferred Stock is perpetual and has no maturity date. The Issuer may, at its option, redeem the shares of Designated Senior Preferred Stock # in whole or in part, from time to time, on any Dividend Payment Date on or

Partial Redemption. In case of any redemption of part of the shares of Designated Senior Preferred Stock at the time outstanding, the shares to be redeemed shall equal at least twenty percent (20%) of the number of originally issued shares of Designated Senior Preferred Stock, or all the then-outstanding shares (if the number of shares then outstanding is less than twenty percent (20%) of the number of originally issued shares of Designated Senior Preferred Stock) and, in any such case, the shares to be redeemed shall be selected either pro rata

Redemption Provisions. Notwithstanding any provision to the contrary contained in the Certificate of Incorporation of Borrower, as amended from time to time (the “Charter”), if, pursuant to the redemption provisions contained in the Charter, the Lenders is entitled to a redemption of its Warrant, such redemption (in the case of the Lenders) will be at a price equal to the redemption price set forth in the Charter (the “Existing Redemption Price”). If, however, the Lenders delivers written notice to Borrower that the then current regulations promulgated under the SBIC Act prohibit payment of the Existing Redemption Price in the case of an SBIC (or, if applied, the Existing Redemption Price would cause the Series B preferred stock or preferred stock relating to any subsequent round to lose its classification as an “equity security” and the Lenders has determined that such classification is unadvisable), the amount the Lenders will be entitled to receive shall be the greater of # fair market value of the securities being redeemed taking into account the rights and preferences of such securities plus any costs and expenses of the Lenders incurred in making or maintaining each Warrant, and # the Existing Redemption Price where the amount of accrued but unpaid dividends payable to the Lenders is limited to Borrower's earnings plus any costs and expenses of the Lenders incurred in making or maintaining each Warrant; provided, however, the amount calculated in [subsections (i) or (ii)])] above shall not exceed the Existing Redemption Price.

Partial Redemption. If less than the then outstanding principal amount of this Subordinated Note is redeemed, # a new Subordinated Note shall be issued representing the unredeemed portion without charge to the holder thereof and # such redemption shall be effected on a pro rata basis as to the Noteholders. For purposes of clarity, upon a partial redemption, a like percentage of the principal amount of every Subordinated Note held by every Noteholder shall be redeemed.

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