Common use of Effect of Notices of Redemption Clause in Contracts

Effect of Notices of Redemption. Notice of redemption may be given and any redemption of Securities may, at the Company’s discretion, be subject to one or more conditions precedent, including the consummation of a financing transaction or equity issuance, the proceeds of which are to be used to fund such redemption; provided that, if notice of redemption is given pursuant to Section 10.03, and such notice does not include a condition precedent to be satisfied in order for the Company to be obligated to redeem the Securities, the Securities called for redemption shall become due and payable on the Redemption Date at the redemption price. Upon surrender to the Paying Agent of Securities called for redemption, such Securities shall be paid out at the redemption price, plus accrued and unpaid interest up to, but excluding, the Redemption Date; provided, however, that if the Redemption Date is after the taking of a record of the Holders on a record date and on or prior to the related Interest Payment Date, the accrued and unpaid interest shall be payable to the Person in whose name the redeemed Securities are registered on such record date. Failure to give notice or any defect in the notice to any Holder shall not affect the validity of the notice to any other Holder.

Effect of Notices of Redemption. Notice of redemption may be given and any redemption of Securities may, at the Company’s discretion, be subject to one or more conditions precedent, including the consummation of a financing transaction or equity issuance, the proceeds of which are to be used to fund such redemption; provided that, if notice of redemption is given pursuant to Section 10.03, and such notice does not include a condition precedent to be satisfied in order for the Company to be obligated to redeem the Securities, the Securities called for redemption shall become due and payable on the Redemption Date at the redemption priceRedemption Price. Upon surrender to the Paying Agent of Securities called for redemption, such Securities shall be paid out at the redemption priceRedemption Price, plus accrued and unpaid interest up to, but excluding, the Redemption Date; provided, however, that if the Redemption Date is after the taking of a record of the Holders on a record date and on or prior to the related Interest Payment Date, the accrued and unpaid interest shall be payable to the Person in whose name the redeemed Securities are registered on such record date. Failure to give notice or any defect in the notice to any Holder shall not affect the validity of the notice to any other Holder.

Effect of Notices of Redemption. Notice of redemption may be given and any redemption of Securities may, at the Company’s discretion, be subject to one or more conditions precedent, including the consummation of a financing transaction or equity issuance, the proceeds of which are to be used to fund such redemption; provided that, if notice of redemption is given pursuant to Section 10.03, and such notice does not include a condition precedent to be satisfied in order for the Company to be obligated to redeem the Securities, the Securities called for redemption shall become due and payable on the Redemption Date at the redemption priceRedemption Price. Upon surrender to the Paying Agent of Securities called for redemption, such Securities shall be paid out at the redemption priceRedemption Price, plus accrued and unpaid interest up to, but excludingnot including, the Redemption Date; provided, however, that if the Redemption Date is after the taking of a record of the Holders on a record date and on or prior to the related Interest Payment Date, the accrued and unpaid interest shall be payable to the Person in whose name the redeemed Securities are registered on such record date. Failure to give notice or any defect in the notice to any Holder shall not affect the validity of the notice to any other Holder.