Holder Redemption Sample Clauses
The Holder Redemption clause defines the right of a security holder to require the issuer to repurchase or redeem their securities under specified conditions. Typically, this clause outlines the circumstances under which redemption can be requested, the process for making such a request, and the price or formula used to determine the redemption amount. Its core practical function is to provide liquidity and an exit option for holders, ensuring they have a mechanism to recover their investment if certain events occur or after a set period.
Holder Redemption. In the event that a Qualified IPO has not occurred on or before the three-year anniversary of the Issue Date (a "HOLDER REDEMPTION TRIGGERING DATE"), the Holder shall have the right to require the Company to redeem all or any portion of this Note (a "HOLDER REDEMPTION") at the Holder Redemption Price on the date that is twenty (20) Business Days after such third anniversary date (the "HOLDER REDEMPTION DATE"). For purposes hereof, "HOLDER REDEMPTION PRICE" means (A) the principal amount of this Note being redeemed plus (B) all unpaid Interest (subject to adjustment as described in SECTION 2(a) of this Note) and Additional Amounts (if any) accrued on the principal of this Note to, but excluding, the Holder Redemption Date.
Holder Redemption. On or after the fifth anniversary of the Closing Date, if the Company has not yet consummated an IPO or a Liquidity Event, the holder hereof shall have the right (the "Redemption Right") to require the Company to redeem the Warrant for a redemption price (the "Redemption Amount") corresponding to the Warrant Fair Market Value (as calculated pursuant to Schedule I attached hereto). The Company shall pay the Redemption Amount, in cash, within one hundred eighty (180) days of receiving notice from the holder that the holder is exercising the Redemption Right, together with interest on such amount accruing from the date on which the Company receives notice from the holder that the holder is exercising its Redemption Right to the date such amount is paid at an interest rate equal to the annual prime interest rate then in effect as set by PNC Bank, National Association. Upon a redemption under this Section 5.1, the holder shall surrender this Warrant to the Company at its office specified in Section 1 hereof, and the Company shall cancel this Warrant.
Holder Redemption. On or after the fifth anniversary of the Closing Date, if the Company has not yet consummated an IPO or a Liquidity Event, the holder hereof shall have the right (the "Redemption Right") to require the Company to redeem the Warrant for a redemption price (the "Redemption Amount") corresponding to the Warrant Fair Market Value (as calculated pursuant to Schedule I attached hereto); provided however, that if the Company has redeemed the Senior Common Stock, the holder hereof shall have the Redemption Right at or any time after such redemption. The Company shall pay the Redemption Amount, in cash, within one hundred eighty (180) days of receiving notice from the holder that the holder is exercising the Redemption Right, together with interest on such amount accruing from the date on which the Company receives notice from the holder that the holder is exercising its Redemption Right to the date such amount is paid at an interest rate equal to the annual prime interest rate then in effect as set by PNC Bank, National Association. Upon a redemption under this Section 5.1, the holder shall surrender this Warrant to the Company at its office specified in Section 1 hereof, and the Company shall cancel this Warrant.
Holder Redemption. (i) At any time following the 24 month anniversary of the Original Issue Date (any such day, a “Holder Redemption Date”), the Holder shall have the right to require the Company to redeem all or any portion of the outstanding principal amount of the Notes, plus all accrued but unpaid interest thereon to the date of payment (for each redemption on a Holder Redemption Date, the “Holder Redemption Price”) on each such Holder Redemption Date; provided, however, that on the 60th month anniversary of the Original Issue Date, the Company shall redeem 100% of any remaining outstanding principal amount of the Notes, plus accrued but unpaid interest thereon to the date of payment. The Holder must deliver a notice of the redemption at least twenty (20) Trading Days prior to the Holder Redemption Date, which notice shall state the aggregate principal amount of the Notes to be redeemed.
(ii) The Company shall pay the Holder Redemption Price in cash.