Call for Redemption Clause Samples

Call for Redemption a) For purposes hereof, a “Trading Market” shall mean a national securities exchange, as defined by the Securities and Exchange Commission, or the automated quotation system of a registered securities association. For purposes hereof, an “Active Trading Market” means a Trading Market on which the average daily trading volume for the Company’s Common Stock exceeds Fifty Thousand Dollars ($50,000).

Call for Redemption. A Holder may surrender for conversion any Securities called for redemption at any time prior to the close of business one Business Day prior to the Redemption Date, even if the Securities are not otherwise convertible at such time. If a Holder has already delivered Repurchase Notice or a Change in Control Purchase Notice with respect to a Security at the time the call for redemption is made, however, the Holder may not surrender such Security for conversion until the Holder has withdrawn such notice in accordance herewith.

Call for Redemption. Any Securities called for redemption, unless surrendered for conversion before the close of business on the Business Day immediately preceding the Redemption Date, may be deemed to be purchased from the Holders of such Securities at an amount not less than the Redemption Price, by one or more investment bankers or other purchasers who may agree with the Company to purchase such Securities from the Holders, to convert them into Common Stock of the Company and to make payment for such Securities to the Trustee in trust for such Holders.