Common use of Mechanics of Redemption Clause in Contracts

Mechanics of Redemption. The Issuer shall provide the Lender with not less than three (3) Business Days’ (or such shorter period as the Lender may agree) of any Optional Issuer Redemption or any redemption required pursuant to Section 7.3 or 7.4, which notice shall specify the date for redemption (the “Redemption Date”) and, in the case of an Optional Issuer Redemption, the principal amount of the Note to be redeemed. The Note (or the applicable portion thereof) shall become due and payable on the Redemption Date at the Redemption Price, and unless the Issuer defaults in making the redemption payment, from and after such date the Note (or such portion thereof) shall cease to bear interest. Upon surrender of the Note for redemption in accordance with such notice, the applicable Redemption Price for the Note (or any portion thereof) shall be paid by the Issuer to the Lender, and if less than 100% of the Note has been redeemed, the Issuer shall deliver to the Lender a new Note (or the surrendered Note with the proper notations made on Schedule A thereto to reflect the redemption) for the principal amount thereof remaining unredeemed. If the Note (or portion thereof) called for redemption shall not be paid upon surrender thereof for redemption, the Note (or the applicable portion thereof) shall continue to bear interest from the Redemption Date (or other applicable redemption date) until the date on which the Redemption Price is paid therefor.

Mechanics of Redemption. In the event the Company shall be required to redeem any part or all of the Outstanding Principal Amount of the Debentures, the Company shall send by either overnight courier or 2-day courier (with a copy sent by facsimile) notice of such determination to the record Holders of the Debentures being redeemed (the "Redemption Debentures"). If the Company shall be required so to redeem less then the Outstanding Principal Amount of all Debentures, such redemption shall be made from each Holder, pro rata according to the portion of the total Outstanding Principal Amount of all Debentures then held by each Holder. The Issuer notice shall provide that the Lender with not less redemption shall occur on a date (the "Redemption Date") that is no later than three (3) Business Days’ (or such shorter period as the Lender may agree) of any Optional Issuer Redemption or any redemption required pursuant to Section 7.3 or 7.4, which notice shall specify 5 business days after the date for such notice was sent by confirmed facsimile to such record Holders. On the Redemption Date the Redemption Debentures shall be redeemed automatically without any further action by the Holders of such Debentures and whether or not the Debentures are surrendered to the Company; provided, that the Company shall be obligated to pay the cash consideration due to a Holder of such Debentures upon redemption (when such Debentures are either delivered to the “principal office of the Company or the Holder notifies the Company that such Debentures have been lost, stolen or destroyed and executes an agreement reasonably satisfactory to the Company to indemnify the Company from any loss incurred by it in connection with such Debenture. Thereupon, there shall be promptly issued and delivered to such Holder, within three business days after the Redemption Date”) andDate and delivery to the Company of such Debentures, or after receipt of such agreement and indemnification, at the address of such Holder on the books of the Company, payment in immediately available funds to the name as shown on such surrendered Debenture in the case of an Optional Issuer Redemption, the principal amount of the Note to be redeemed. The Note (or the applicable portion thereof) shall become due and payable on the Redemption Date at the Redemption Price, and unless the Issuer defaults redemption price as calculated as set forth in making the redemption payment, from and after such date the Note (or such portion thereof) shall cease to bear interest. Upon surrender of the Note for redemption in accordance with such notice, the applicable Redemption Price for the Note (or any portion thereof) shall be paid by the Issuer to the Lender, and if less than 100% of the Note has been redeemed, the Issuer shall deliver to the Lender a new Note (or the surrendered Note with the proper notations made on Schedule A thereto to reflect the redemption) for the principal amount thereof remaining unredeemed. If the Note (or portion thereof) called for redemption shall not be paid upon surrender thereof for redemption, the Note (or the applicable portion thereof) shall continue to bear interest from the Redemption Date (or other applicable redemption date) until the date on which the Redemption Price is paid thereforParagraph 6(b).

Mechanics of Redemption. The Issuer If the Company exercises its right to redeem all or a portion of this Warrant, then it shall provide the Lender with not less than three (3) Business Days’ (give or such shorter period as the Lender may agree) of any Optional Issuer Redemption or any redemption required pursuant to Section 7.3 or 7.4, which notice shall specify the date for redemption (the “Redemption Date”) and, in the case of an Optional Issuer Redemption, the principal amount of the Note cause to be redeemed. The Note (or given notice to the applicable portion thereof) shall become due and payable on Holder by delivering to the Redemption Date at the Redemption Price, and unless the Issuer defaults in making the redemption payment, from and after such date the Note (or such portion thereof) shall cease to bear interest. Upon surrender Holder a notice of the Note for redemption in accordance with the provisions of Section 6(e) hereof. Any notice mailed in the manner provided herein shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice. The notice of redemption shall specify (i) the redemption price, (ii) the Redemption Date, which shall in no event be less than thirty (30) days after the date of mailing such notice, (iii) the applicable place where this Warrant must be delivered (if this Warrant is redeemed in full) and the redemption price paid, and (iv) that the right to exercise this Warrant shall terminate at Close of Business on the Redemption Price Date. Neither the failure to mail such notice nor any defect therein or in the mailing thereof shall affect the validity of the proceedings for such redemption except if notice was not mailed or was defective. An affidavit of the Note (Warrant Agent or any portion thereof) the Secretary or Assistant Secretary of the Company that notice of redemption has been mailed shall, in the absence of fraud, be prima facie evidence of the facts stated therein. Any right to exercise this Warrant shall terminate at Close of Business on the Redemption Date. The redemption price payable to the Holder shall be paid by the Issuer mailed to the Lender, and if less than 100% of most current address listed in the Note has been redeemed, the Issuer shall deliver to the Lender a new Note Warrant Register (or the surrendered Note with the proper notations made on Schedule A thereto to reflect the redemption) for the principal amount thereof remaining unredeemed. If the Note (or portion thereof) called for redemption shall not be paid upon surrender thereof for redemption, the Note (or the applicable portion thereof) shall continue to bear interest from the Redemption Date (or other applicable redemption date) until the date on which the Redemption Price is paid thereforas defined below).