Manner of Redemption. Redemption from the FUND shall be computed on the basis of the applicable NAVPU on the day the redemption is effected. Redemptions from the FUND shall result in the reduction of the TRUSTOR’s proportionate interest in the FUND. Such reductions shall be expressed in units based on the NAVPU. For the effective management of the FUND, the minimum amount for partial redemptions, the minimum holding period (and applicable redemption fee), and the required minimum maintaining balance in the FUND are stated in the PLAN/TRUST DEED. Should a redemption result to the investment in the FUND falling below the required minimum maintaining balance, the TRUSTEE shall automatically close the account without need of prior notification to the TRUSTOR, in which case, the entire balance of the FUND shall be paid through credit to the Settlement Account based on the applicable NAVPU for the day multiplied by the number of remaining unit holdings. Settlement of redemptions shall be in accordance with what is stated in the PLAN/TRUST DEED of the FUND. Changes thereof shall be subject to BSP Regulations. The TRUSTEE/MANAGER reserves the right to require from the TRUSTOR that written notice of redemption from the FUND be delivered in advance within the number of days specified in the PLAN/TRUST DEED. This required notice may be shortened or extended at the sole discretion of the TRUSTEE/MANAGER depending upon the investment and liquidity position of the FUND and the frequency and volume of requests for redemptions received by the TRUSTEE/MANAGER at any given time. Such notice may be made by the TRUSTEE/MANAGER by way of direct written notice to each TRUSTOR or through the publication of announcement in the TRUSTEE/MANAGER’s own website, posting of notices in the premises of the Head Office of the TRUSTEE/MANAGER, or posting/sending of notices in the approved platforms of all duly accredited distribution channels at least three (3) business days before the implementation of such requirement. The TRUSTEE/MANAGER also reserves the right to impose such other requirements or restrictions applicable to any redemption from the FUND depending on market conditions and as circumstances shall necessitate, for the preservation and/or benefit of the FUND and the investors.
Manner of Redemption. Commencing on July 1, 1998, the former shareholders of Xxxxxx Car Wash, Inc., may sell to SPF a percentage of the SPF Energy, Inc. Common Stock received in exchange for Xxxxxx Car Wash, Inc. Common Stock and SPF shall buy the percentage tendered as allowed by this Agreement.
Manner of Redemption. Whenever the Company shall determine to exercise any optional right it may have to redeem Bonds of any series issued hereunder, it shall file with the Trustee not less than sixty days prior to the date fixed for the redemption of such Bonds, a Resolution specifying the principal amount of and designating the series of Bonds to be redeemed and shall, on or before the date fixed for redemption, deposit with the Trustee sufficient moneys to redeem such Bonds and pay to the Trustee its proper expenses and charges in connection with such redemption.
Manner of Redemption. Redemption from the FUND shall be computed on the basis of the applicable Net Asset Value per unit on the day the redemption is effected. Redemptions from the FUND shall result in the reduction of the TRUSTOR’s proportionate interest in the FUND. Such reductions shall be expressed in units based on the NAVPU. For the effective management of the FUND, the minimum amount for partial redemptions, the minimum holding period, and the required minimum maintaining balance in the FUND are stated in the PLAN(s)/TRUST DEED. Should a redemption result to the investment in the FUND/s falling below the required minimum maintaining balance, the TRUSTEE shall automatically close the account without need of prior notification to the TRUSTOR, in which case, the entire balance of the FUND/s shall be paid through credit to the TRUSTOR/s’ Settlement Account based on the applicable Net Asset Value per unit for the day multiplied by the number of remaining unit holdings. Settlement of redemptions shall be in accordance with what is stated in the PLAN(s)/TRUST DEED of the FUND. Changes thereof shall be subject to Subsection X410.6.
Manner of Redemption. (1) On the Redemption Date, the Company shall (i) accept for redemption Notes or portions thereof pursuant to the Notice to Redeem; (ii) pay the pro rata Amount to be Redeemed, together with all accrued and unpaid interest owing thereon, to each Holder of a Note that has delivered such Note or Notes to the Company prior to the close of business on the Redemption Date; and (iii) deliver, or cause to be delivered, to the Holder such new Notes evidencing any amounts not redeemed, as applicable.
Manner of Redemption. Whenever any Bonds or portions thereof are to be selected for redemption by lot, the Trustee shall make such selection, in such manner as the Trustee shall deem appropriate, and shall notify the Successor Agency thereof to the extent Bonds are no longer held in book-entry form. In the event of redemption by lot of Bonds, the Trustee shall assign to each Bond then Outstanding a distinctive number for each $5,000 of the principal amount of each such Bond. The Bonds to be redeemed shall be the Bonds to which were assigned numbers so selected, but only so much of the principal amount of each such Bond of a denomination of more than $5,000 shall be redeemed as shall equal $5,000 for each number assigned to it and so selected. All Bonds redeemed or purchased pursuant to this Section 2.03 shall be cancelled and destroyed.
Manner of Redemption. 22 SECTION 12. Call Option.................................................25 SECTION 13. Limit on Grant of Other Put or Redemption Rights............26 SECTION 14. Survival of Provisions......................................26 SECTION 15. Delays, Omissions and Indulgences...........................27
Manner of Redemption. Notice of redemption of outstanding shares of Redeemable Preferred Stock pursuant to Sections 5(a) and 5(b) shall be sent by or on behalf of the Corporation to the holders of record of outstanding shares of Redeemable Preferred Stock selected for redemption in the manner provided in Section 7(b) hereof. If, as a result of a redemption, a holder would be left with fractions of a share of Redeemable
Manner of Redemption. On the Redemption Date, the Borrowers shall pay the pro rata Amount to be Redeemedtogether with all accrued and unpaid interest to the Administrative Agent on behalf of each Holder.
Manner of Redemption. Whenever any 2019 Bonds or portions thereof are to be selected for redemption by lot, the Trustee shall make such selection, in such manner as the Trustee shall deem appropriate, and shall notify the Successor Agency thereof to the extent 2019 Bonds are no longer held in book-entry form. In the event of redemption by lot of 2019 Bonds, the Trustee shall assign to each 2019 Bond then Outstanding a distinctive number for each $5,000 of the principal amount of each such 2019 Bond. The 2019 Bonds to be redeemed shall be the 2019 Bonds to which were assigned numbers so selected, but only so much of the principal amount of each such 2019 Bond of a denomination of more than $5,000 shall be redeemed as shall equal $5,000 for each number assigned to it and so selected. All 2019 Bonds redeemed or purchased pursuant to this Section 2.03 shall be cancelled and destroyed.
