Common use of Permitted Redemption Clause in Contracts

Permitted Redemption. (i) At any time on or after the Closing Date, but subject to Section 8.31, the Companies may, at their option, elect to pay to the Holders of the Revolving Notes the Permitted Revolving Redemption Amount (as defined below), on the Permitted Redemption Date, by redeeming the principal amount of any Revolving Notes, in whole or in part (but in minimum increments of Two Hundred Fifty Thousand Dollars ($250,000)), (a “Permitted Redemption”); provided, that no Company has knowledge that an Event of Default (including, but not limited to a Change of Control) exists or will exist on the date of the Permitted Redemption. On or prior to the date which is the sixth (6th) Business Day prior to the applicable Permitted Redemption Date, the Companies shall deliver written notice (each, a “Permitted Redemption Notice”) to the Holders stating (i) the amount which the Companies elect to redeem pursuant to a Permitted Revolving Redemption (the “Permitted Revolving Redemption Amount”), which Permitted Revolving Redemption Amount shall be equal to the unpaid principal amount of the applicable Revolving Notes being redeemed, together with accrued and unpaid Interest with respect to such the principal amount being redeemed and accrued and unpaid Late Charges with respect to such Permitted Revolving Redemption Amount and (ii) the Permitted Redemption Date.

Permitted Redemption. (i) At any time on or after the Closing Date, but subject to Section 8.31, the Companies Borrowers may, at their option, elect to pay to the Holders of the Revolving Notes the Permitted Revolving Redemption Amount (as defined below), on the Permitted Redemption Date, by redeeming the principal amount of any Revolving all Term Notes, in whole or in part (but in minimum increments of Two Hundred Fifty Thousand Dollars ($250,000)), (a “Permitted Redemption”); provided, that no Company has knowledge that an Event of Default (including, but not limited to a Change of Control) exists or will exist on the date of the Permitted Redemption. On or prior to the date which is the sixth (6th) Business Day prior to the applicable Permitted Redemption Date, the Companies Borrowers shall deliver written notice (each, a the “Permitted Redemption Notice”) to the Holders stating (i) the amount which the Companies Borrowers elect to redeem pursuant to a the Permitted Revolving Redemption (the “Permitted Revolving Redemption Amount”), which Permitted Revolving Redemption Amount shall be equal to (A) the unpaid outstanding principal amount of the applicable Revolving Notes being redeemedall Term Notes, together with (B) all accrued and unpaid Interest interest with respect to such principal amount, (C) (1) if the principal amount being redeemed Permitted Redemption Date is prior to the one-year anniversary of the Closing Date, all interest (excluding the Make-Whole Interest) that would accrue and be payable from the Permitted Redemption Date to such one-year anniversary if the Permitted Redemption had not occurred prior thereto, or (2) if the Permitted Redemption Date is on or after the one-year anniversary of the Closing Date, all interest (including the Make-Whole Interest) that would accrue and be payable from the Permitted Redemption Date to the Maturity Date if the Permitted Redemption had not occurred prior thereto, and (D) accrued and unpaid Late Charges with respect to such Permitted Revolving Redemption Amount Amount, and (ii) the Permitted Redemption Date.

Permitted Redemption. The Corporation may (ibut shall not be required to) At at any time on redeem all, or after any portion, of the Closing Date, but subject to Section 8.31, the Companies may, at their option, elect to pay then outstanding shares of Series A Preferred or Series C Preferred by paying in cash to the Holders holders thereof in respect of each such share the Revolving Notes the Permitted Revolving Redemption Amount Price (as defined below), with one-half of such payment due ninety (90) days after receipt of such notice of redemption and one-half of such payment due on the Permitted Redemption Date, by redeeming the principal amount first anniversary of any Revolving Notes, in whole or in part (but in minimum increments of Two Hundred Fifty Thousand Dollars ($250,000)), (a “Permitted Redemption”); provided, that no Company has knowledge that an Event of Default (including, but not limited to a Change of Control) exists or will exist on the date of receipt of such notice of redemption; provided that the Permitted Redemptionholders of Series A Preferred shall be redeemed in full, and all payments to the holders of the Series A Preferred in respect of such redemption shall have been made, prior to any redemption of the Series C Preferred. On The price payable for each redeemed share (the “Redemption Price”), as applicable, of (x) Series A Preferred shall be equal to the Original Series A Issue Price plus an amount equal to the Original Series A Issue Price for each share that is deemed to be issued as an accrued but unpaid dividend on such share pursuant to Article III, C.1. hereof, to and including the Redemption Date; and (y) Series C Preferred shall be equal to the Original Series C Issue Price, and no more. The Corporation shall give notice of redemption of Series A Preferred or Series C Preferred by first class mail, postage prepaid, mailed not less than thirty (30) nor more than sixty (60) days prior to the redemption date which is (the sixth (6th) Business Day prior to the applicable Permitted Redemption Date, the Companies shall deliver written notice (each, a “Permitted Redemption Notice”) to each holder of record of shares of Series A Preferred or Series C Preferred, as applicable, at such holder’s address as the Holders stating same appears on the stock records of the Corporation. The Redemption Notice shall state: (i) that all shares of Series A Preferred or Series C Preferred, as applicable, called by the amount which Corporation for redemption, will be redeemed on the Companies elect to redeem pursuant to a Permitted Revolving Redemption stated redemption date (the “Permitted Revolving Redemption AmountDate”), which Permitted Revolving Redemption Amount shall be equal to the unpaid principal amount of the applicable Revolving Notes being redeemed, together with accrued and unpaid Interest with respect to such the principal amount being redeemed and accrued and unpaid Late Charges with respect to such Permitted Revolving Redemption Amount and ; (ii) the Permitted Redemption Price and the method of calculation thereof; (iv) the place or places where certificates for such shares are to be surrendered for payment of the Redemption Price; and (v) that dividends on the shares to be redeemed shall cease to accrue on the Redemption Date. On or after the Redemption Date, each holder of shares of Series A Preferred or Series C Preferred shall surrender a certificate or certificates representing the number of shares of the Series A Preferred or Series C Preferred to be redeemed as stated in the Redemption Notice. If the Redemption Notice shall have been duly given, unless the Corporation shall be in default in providing money for the payment of the Redemption Price (including any accrued and unpaid dividends to (and including) the date fixed for redemption), (i) dividends on the shares of the Series A Preferred to be redeemed shall cease to accumulate, (ii) said shares shall be deemed no longer outstanding, and (iii) all rights of the holders thereof as shareholders of the Corporation (except the right to receive from the Corporation the monies payable upon redemption without interest thereon) shall cease on the Redemption Date. Upon surrender in accordance with the Redemption Notice of the certificates for any such shares so redeemed (properly endorsed or assigned for transfer, if the Board of Directors shall so require and the notice of redemption shall so state), such shares shall be redeemed by the Corporation at the applicable Redemption Price. If fewer than all the shares represented by any certificate are redeemed, a new certificate shall be issued representing the unredeemed shares without cost to the holder thereof.

Permitted Redemption. (i) At any time on or after the Closing Date, but subject to Section 8.31, the Companies Borrowers may, at their option, elect to pay to the Holders of the Revolving Notes the Permitted Revolving Redemption Amount (as defined below), on the Permitted Redemption Date, by redeeming the aggregate unpaid principal amount of any Revolving all Notes, in whole or in part (but in minimum increments of Two Hundred Fifty Thousand Dollars ($250,000)a "Permitted Redemption"), (including in connection with a “Permitted Redemption”); providedrefinancing, that no Company has knowledge that an Event of Default (includingin full, but not limited to a Change of Control) exists or will exist on the date of the Permitted RedemptionObligations. On or prior to the date which is the sixth sixtieth (6th60th) Business Day calendar day prior to the applicable proposed Permitted Redemption Date, the Companies Borrower Representative shall deliver written notice (each, a “the "Permitted Redemption Notice”") to the Holders of the Notes stating (i) the amount which the Companies that Borrowers elect to redeem pursuant to a Permitted Revolving Redemption and (ii) the “proposed Permitted Revolving Redemption Date. The "Permitted Redemption Amount”), which Permitted Revolving Redemption Amount " shall be equal to (A) the unpaid aggregate principal amount of the applicable Revolving Notes being redeemed, together with (B) all accrued and unpaid Interest interest with respect to such the principal amount being redeemed and all accrued and unpaid fees, (C) accrued and unpaid Late Charges with respect to such Permitted Revolving Redemption Amount Amount, (D) the Prepayment Premium and (iiE) all other amounts due under the Permitted Redemption DateTransaction Documents. The Credit Parties acknowledge and agree that the Prepayment Premium represents bargained for consideration in exchange for the right and privilege to redeem the Notes.

Permitted Redemption. (i) At any time (but only one time) on or after the first anniversary of the First Restated Closing Date, but subject to Section 8.31, the Companies mayBorrowers shall have the right, at their option, elect to redeem the Maximum Permitted Redemption Amount (but not more or less than the Maximum Permitted Redemption Amount) of the principal amount of the Notes then outstanding (pro rata amongst the Holders based on the then outstanding principal amount of their Notes) by electing to pay to the Holders of the Revolving Notes the applicable Permitted Revolving Redemption Amount (as defined below), ) on the Permitted Redemption Date, by redeeming the principal amount of any Revolving Notes, in whole or in part (but in minimum increments of Two Hundred Fifty Thousand Dollars ($250,000)), Date (a “Permitted Redemption”); providedprovided that the Permitted Redemption Conditions and the conditions set forth in Section 2.3(a)(i), that no Company has knowledge that an Event of Default (including, but not limited ii) and (iii) are satisfied (or waived in writing by the Required Holders). The Borrowers may exercise their right to effectuate a Change of Control) exists or will exist on the date Permitted Redemption by delivering to each of the Permitted Redemption. On or prior to the date which is the sixth (6th) Business Day prior to the applicable Permitted Redemption Date, the Companies shall deliver Holders written notice (each, a the “Permitted Redemption Notice”), and making of contemporaneous public disclosure thereof, at least sixty (60) days prior to the Holders stating proposed Permitted Redemption Date. If the Borrowers elect to exercise a Permitted Redemption pursuant to this Section 2.3(a), then they must simultaneously take the same action with respect to all of the Notes. The Permitted Redemption Notice shall state (i1) the principal amount of the Notes (in the aggregate and with respect to each Note) which the Companies Borrowers elect to redeem pursuant to a the Permitted Revolving Redemption, (2) the applicable “Permitted Redemption Amount” for such Permitted Redemption (in the “Permitted Revolving Redemption Amount”aggregate and with respect to each Note), which Permitted Revolving Redemption Amount amount shall be equal to (A) one hundred ten percent (110%) of the unpaid outstanding principal amount of the applicable Revolving Notes being redeemedredeemed in connection with such Permitted Redemption, together with plus (B) all accrued and unpaid Interest interest with respect to such the principal amount being redeemed and amount, plus (C) accrued and unpaid Late Charges with respect to such Permitted Revolving Redemption Amount principal amount and such accrued and unpaid interest, and (ii3) the proposed Permitted Redemption Date, and shall certify that the Permitted Redemption DateConditions are satisfied as of the Permitted Redemption Notice Date (to the extent they can be satisfied thereon). Other than pursuant to a Permitted Redemption, the Borrowers shall have no right to voluntarily prepay, redeem or repurchase Notes.

Permitted Redemption. (i) At any time on or after the Closing Date, but subject to Section 8.31, the Companies The Borrower may, at their its option, elect to pay to the Holders of the Revolving Notes the Permitted Revolving Redemption Amount (as defined below), on the Permitted Redemption Date, by redeeming the aggregate unpaid principal amount of any Revolving all Notes, in whole or (and not in part part) (but in minimum increments of Two Hundred Fifty Thousand Dollars ($250,000)), (a the “Permitted Redemption”); provided, that no Company has knowledge that an Event of Default (including, but not limited to a Change of Control) exists or will exist on the date of the Permitted Redemption. On or prior to the date which is the sixth third (6th3rd) Business Day prior to the applicable proposed Permitted Redemption Date, the Companies Borrower shall deliver written notice (each, a the “Permitted Redemption Notice”) to the Holders stating (i) that the amount which the Companies elect Borrower elects to redeem pursuant to a the Permitted Revolving Redemption and (ii) the “proposed Permitted Revolving Redemption Amount”), which Date. The Permitted Revolving Redemption Amount shall be equal to (A) the aggregate unpaid outstanding principal amount of the applicable Revolving Notes being redeemedall Notes, together with (B) all accrued and unpaid Interest interest with respect to such the principal amount being redeemed and all accrued and unpaid fees, (C) accrued and unpaid Late Charges with respect to such Permitted Revolving Redemption Amount Amount, (D) the Prepayment Premium and (iiE) all other amounts due under the Permitted Redemption DateTransaction Documents. The Credit Parties acknowledge and agree that the Prepayment Premium represents bargained for consideration in exchange for the right and privilege to redeem the Notes.

Permitted Redemption. (i) At any time on or after the first anniversary of the First Closing Date, but subject to Section 8.31, the Companies Borrowers may, at their option, elect to pay to the Holders of the Revolving Notes the Permitted Revolving Redemption Amount (as defined below), on the Permitted Redemption Date, by redeeming the principal amount of any Revolving all Notes, in whole or in part (but in minimum increments of Two Hundred Fifty Thousand Dollars ($250,000)), (a “Permitted Redemption”); provided, that the Borrowers have no Company has knowledge that an Event of Default (including, but not limited to to, a Change of Control) exists or will exist on the date of the Permitted Redemption; provided, further, that notwithstanding the foregoing, the Borrowers may, at their option, at any time make Permitted Redemptions in an aggregate Permitted Redemption Amount not to exceed $5,000,000. On or prior to the date which is the sixth (6th) Business Day prior to the applicable proposed Permitted Redemption Date, the Companies Borrowers shall deliver written notice (each, a the “Permitted Redemption Notice”) to the Holders stating (i) the amount which the Companies Borrowers elect to redeem pursuant to a the Permitted Revolving Redemption (the “Permitted Revolving Redemption Amount”), which Permitted Revolving Redemption Amount shall be equal to (A) the unpaid outstanding principal amount of the applicable Revolving Notes being redeemedall Notes, together with (B) all accrued and unpaid Interest interest with respect to such the principal amount being redeemed amount, and (C) accrued and unpaid Late Charges with respect to such Permitted Revolving Redemption Amount Amount, and (ii) the proposed Permitted Redemption Date.