Common use of Optional Redemption Amount Clause in Contracts

Optional Redemption Amount. The amount (the “Optional Redemption Amount”) to be paid to each Redeemable Preferred Member with respect to each Redeemable Preferred Share redeemed pursuant to this Section 5.1 shall be: (i) if such Optional Redemption is after the three year anniversary, but on or prior to the fourth year anniversary of the Effective Date, the sum of the following with respect to each Redeemable Preferred Share to be redeemed: (1) all Redeemable Preferred Dividends that have accrued but are unpaid with respect to such Redeemable Preferred Share, with such accruals to be calculated up to and including the Optional Redemption Date; (2) the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share; and (3) an amount equal to five percent (5%) of the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share; (ii) if such Optional Redemption is after the fourth year anniversary, but on or prior to the fifth year anniversary of the Effective Date, the sum of the following with respect to each Redeemable Preferred Share to be redeemed: (1) all Redeemable Preferred Dividends that have accrued but are unpaid with respect to such Redeemable Preferred Share, with such accruals to be calculated up to and including the Optional Redemption Date; (2) the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share; and (3) an amount equal to three percent (3%) of the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share; and (iii) if such Optional Redemption is after the fifth year anniversary of the Effective Date, the sum of the following with respect to each Redeemable Preferred Share to be redeemed: (1) all Redeemable Preferred Dividends that have accrued but are unpaid with respect to such Redeemable Preferred Share, with such accruals to be calculated up to and including the Optional Redemption Date; (2) the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share; and (3) an amount equal to one percent (1%) of the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share;

Optional Redemption Amount. The amount (the “Optional Redemption Amount”) to be paid to each Redeemable Preferred Member with respect to each Redeemable Preferred Share redeemed pursuant to this Section 5.1 shall bebe as follows: (i) if If such Optional Redemption is after the three year thirty (30) month anniversary, but on or prior to before the fourth year anniversary forty-two (42) month anniversary, of the Effective Date, the sum of the following shall be paid with respect to each Redeemable Preferred Share to be redeemed: (1) all Redeemable Preferred Dividends that have accrued but are unpaid with respect to such Redeemable Preferred Share, with such accruals to be calculated up to and including the Optional Redemption Date; (2) the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share; and (3) an amount equal to five two percent (52%) of the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share;. (ii) if If such Optional Redemption is after the fourth year forty-two (42) month anniversary, but on or prior to before the fifth year anniversary fifty-four (54) month anniversary, of the Effective Date, the sum of the following with respect to each Redeemable Preferred Share to shall be redeemed: (1) all Redeemable Preferred Dividends that have accrued but are unpaid with respect to such Redeemable Preferred Share, with such accruals to be calculated up to and including the Optional Redemption Date; (2) the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share; and (3) an amount equal to three percent (3%) of the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share; and (iii) if such Optional Redemption is after the fifth year anniversary of the Effective Date, the sum of the following paid with respect to each Redeemable Preferred Share to be redeemed: (1) all Redeemable Preferred Dividends that have accrued but are unpaid with respect to such Redeemable Preferred Share, with such accruals to be calculated up to and including the Optional Redemption Date; (2) the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share; and (3) an amount equal to one percent (1%) of the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share;. (iii) If such Optional Redemption is after the fifty-four (54) month anniversary of the Effective Date, the sum of the following shall be paid with respect to each Redeemable Preferred Share to be redeemed: (1) all Redeemable Preferred Dividends which have accrued but are unpaid with respect to such Redeemable Preferred Share, with such accruals to be calculated up to and including the Optional Redemption Date; and (2) the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share.