INVOLUNTARY REDEMPTION Sample Clauses
The Involuntary Redemption clause allows an issuer or governing body to require the redemption of securities or interests from holders without their consent, typically under specific circumstances outlined in the agreement. This may occur if certain triggering events happen, such as regulatory changes, legal restrictions, or breaches of agreement terms, and the holders are paid a predetermined amount for their redeemed interests. The core function of this clause is to provide the issuer with flexibility to manage compliance or risk by mandating redemption when necessary, thereby protecting the overall integrity and legality of the offering.
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INVOLUNTARY REDEMPTION. The Partnership may redeem some or all of the Units owned by a Limited Partner or an assignee in the sole discretion of the General Partner at any time after giving such Limited Partner seven (7) days notice of redemption in conformity with Section 15.10. The Partnership shall pay the completely redeemed Limited Partner an amount equal to his, her, or its positive Capital Account balance at the time of redemption in full cancellation of all Units owned by such redeemed Limited Partner. The Partnership shall pay the partially redeemed Limited Partner an amount equal to such Partner’s positive Capital Account balance multiplied by a fraction with the number of such Partner’s Units redeemed as the numerator, and the total number of Units owned by such Partner immediately before the redemption as the denominator.
INVOLUNTARY REDEMPTION. If the Trustees shall, at any time and in good faith, be of the opinion that direct or indirect ownership of Shares of any Class or Series or other securities of the Trust has or may become concentrated in any person to an extent which would disqualify the Trust as a regulated investment company under the Internal Revenue Code, then the Trustees shall have the power by lot or other means deemed equitable by them (i) to call for redemption by any such person a number, or principal amount, of Shares or other securities of the Trust sufficient to maintain or bring the direct or indirect ownership of Shares or other securities of the Trust into conformity with the requirements for such qualification and (ii) to refuse to transfer or issue Shares or other securities of the Trust to any person whose acquisition of the Shares or other securities of the Trust in question would result in such
INVOLUNTARY REDEMPTION. If the Trustees shall, at any time and in good faith, be of the opinion that direct or indirect ownership of Shares of any Class or Series or other securities of the Trust has or may become concentrated in any person to an extent which would disqualify the Trust as a regulated investment company under the Internal Revenue Code, then the Trustees shall have the power by lot or other means deemed equitable by them (i) to call for redemption by any such person a number, or principal amount, of Shares or other securities of the Trust sufficient to maintain or bring the direct or indirect ownership of Shares or other securities of the Trust into conformity with the requirements for such qualification and (ii) to refuse to transfer or issue Shares or other securities of the Trust to any person whose acquisition of the Shares or other securities of the Trust in question would result in such disqualification. The redemption shall be effected upon such terms and conditions as shall be determined by the Trustees. The holders of Shares or other securities of the Trust shall upon demand disclose to the Trustees in writing such information with respect to direct and indirect ownership of Shares or other securities of the Trust as the Trustees deem necessary to comply with the provisions of the Internal Revenue Code, or to comply with the requirements of any other taxing authority.
INVOLUNTARY REDEMPTION. The Managing Member may at any time, in its sole and absolute discretion, require any Member to withdraw all or any portion of its Units as of any date by giving a written Redemption Notice of not less than thirty (30) days' advance notice to such Redeeming Member. In addition, no notice shall be required, and the effective date of redemption may be retroactive, with respect to any Member (i) if the Managing Member has reason to believe that such Member acquired Units as a result of a misrepresentation, (ii) if the Managing Member has reason to believe that such Member's ownership of Units would cause the Fund or the Managing Member to be in violation of any law or regulation applicable to the Fund, the Managing Member or the Member, or (iii) if the Managing Member has reason to believe that redemption of the Member is necessary to avoid having the assets of the Fund treated as "Plan Assets" under the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). The Member thus designated shall redeem from the Fund or redeem that portion of such Member's Capital Account specified by the Managing Member, as the case may be, as of the close of business on such date as is determined by the Managing Member. The Member shall be deemed to have made a partial or complete redemption from its Capital Account, as the case may be, without further action on the part of said Member and the provisions of Section 6.1 shall apply to such Member.
INVOLUNTARY REDEMPTION. 13 ARTICLE VII - DETERMINATION OF NET ASSET VALUE, NET INCOME AND DISTRIBUTIONS.........................................................14
INVOLUNTARY REDEMPTION. Other than as set forth in Section 6(a) above, the Series F shall not be subject to redemption by the Corporation without the prior written consent of the holders of the Series F.
INVOLUNTARY REDEMPTION. Other than as set forth in Section 10(a) above, the shares of Special Voting Preferred Stock shall not be subject to redemption by the Corporation without the prior written consent of the Holders of a majority of the issued and outstanding shares of Special Voting Preferred Stock.