Callable. The Corporation can buy back any amount of the issued shares at any time without notice, at One ($1.00) Dollars per share, with the approval of the Board of Directors. The shares are callable by the Corporation, in whole or part, unless the Corporation is in default with its interest payment. If shares are called back by the Corporation, the dividend payment is adjusted proportionally, based on the number of shares owned by the holder.
Appears in 2 contracts
Sources: Replacement Asset Share Purchase & Business Agreement (Her Imports), Asset Purchase & Business Agreement (EZJR, Inc.)