Common use of Company’s Right to Redeem Clause in Contracts

Company’s Right to Redeem. The Company may, at its option, redeem the 2015 Securities, in whole or in part, upon twenty (20) days’ notice to the Holders, for a number of Common Shares per 2015 Security equal to the Principal Amount of such 2015 Security divided by the Conversion Price, plus an amount of cash equal to any then accrued and unpaid interest, if the closing sale price of the Company’s Common Shares is equal to or greater than 200% of the Conversion Price for at least twenty (20) trading days during any period of thirty (30) consecutive trading days; provided, that such notice is given by the Company within five (5) days of the end of such thirty (30) trading day period.

Appears in 2 contracts

Samples: Indenture (Gold Reserve Inc), Restructuring and Note Purchase Agreement (Gold Reserve Inc)

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Company’s Right to Redeem. The Company may, at its option, redeem the 2015 Modified Securities, in whole or in part, upon twenty (20) days’ notice to the Holders, for a number of Common Shares per 2015 Modified Security equal to the Principal Amount of such 2015 Modified Security divided by the Conversion Price, plus an amount of cash equal to any then accrued and unpaid interest, if the closing sale price of the Company’s Common Shares is equal to or greater than 200% of the Conversion Price for at least twenty (20) 20 trading days during any period of thirty (30) consecutive trading days; provided, that such notice is given by the Company within [five (5) )] days of the end of such thirty (30) trading day period.

Appears in 1 contract

Samples: First Supplemental Indenture (Gold Reserve Inc)

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Company’s Right to Redeem. The Company may, at its option, redeem the 2015 2018 Securities, in whole or in part, upon twenty (20) days’ notice to the Holders, for a number of Common Shares per 2015 2018 Security equal to the Principal Amount of such 2015 2018 Security divided by the Conversion Price, plus an amount of cash equal to any then accrued and unpaid interest, if the closing sale price of the Company’s Common Shares is equal to or greater than 200% of the Conversion Price for at least twenty (20) trading days during any period of thirty (30) consecutive trading days; provided, that such notice is given by the Company within five (5) days of the end of such thirty (30) trading day period.

Appears in 1 contract

Samples: Fourth Supplemental Indenture (Gold Reserve Inc)

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