Common use of Procedures for Redemption Clause in Contracts

Procedures for Redemption. The redemption price for any shares of Series A Preferred Stock shall be payable on the Redemption Date to the holders of such shares against book-entry transfer or surrender of the certificate(s) evidencing such shares to the Corporation or its agent. Any declared but unpaid dividends payable on a Redemption Date that occurs subsequent to the Dividend Record Date for a Dividend Period shall not be paid to the holder entitled to receive the redemption price on the Redemption Date, but rather shall be paid to the holder of record of the redeemed shares on such Dividend Record Date relating to the Dividend Payment Date as provided in Section 4 herein. Prior to delivering any notice of redemption as provided below, the Corporation shall file with its corporate records a certificate signed by one of the Corporation’s officers affirming the Corporation’s compliance with the redemption provisions under the DGCL relating to the Series A Preferred Stock, and stating that there are reasonable grounds for believing that the Corporation is, and after the redemption will be, able to pay its liabilities as they become due and that the redemption will not cause the Corporation to breach any provision of applicable Delaware law or regulation. The Corporation shall mail a copy of this certificate with the notice of any redemption.

Procedures for Redemption. The redemption price for any shares of Series A Preferred Stock C Preference Shares shall be payable on the Redemption Date to the holders of such shares against book-entry transfer or surrender of the certificate(s) evidencing such shares to the Corporation Company or its agent. Any declared but unpaid dividends payable on a Redemption Date that occurs subsequent to the Dividend Record Date for a Dividend Period shall not be paid to the holder entitled to receive the redemption price on the Redemption Date, but rather shall be paid to the holder of record of the redeemed shares on such Dividend Record Date relating to the Dividend Payment Date as provided in Section 4 herein. Prior to delivering any notice of redemption as provided below, the Corporation Company shall file with its corporate records a certificate signed by one of the CorporationCompany’s officers affirming the CorporationCompany’s compliance with the redemption provisions under the DGCL Companies Act relating to the Series A Preferred StockC Preference Shares, and stating that there are reasonable grounds for believing that the Corporation Company is, and after the redemption will be, able to pay its liabilities as they become due and that the redemption will not cause the Corporation Company to breach any provision of applicable Delaware Bermuda law or regulation. The Corporation Company shall mail a copy of this certificate with the notice of any redemption.

Procedures for Redemption. The redemption price for any shares of Series A Preferred Stock B Preference Shares shall be payable on the Redemption Date to the holders of such shares against book-entry transfer or surrender of the certificate(s) evidencing such shares to the Corporation Company or its agent. Any declared but unpaid dividends payable on a Redemption Date that occurs subsequent to the Dividend Record Date for a Dividend Period shall not be paid to the holder entitled to receive the redemption price on the Redemption Date, but rather shall be paid to the holder of record of the redeemed shares on such Dividend Record Date relating to the Dividend Payment Date as provided in Section 4 herein. Prior to delivering any notice of redemption as provided below, the Corporation Company shall file with its corporate records a certificate signed by one of the CorporationCompany’s officers affirming the CorporationCompany’s compliance with the redemption provisions under the DGCL Companies Act relating to the Series A Preferred StockB Preference Shares, and stating that there are reasonable grounds for believing that the Corporation Company is, and after the redemption will be, able to pay its liabilities as they become due and that the redemption will not cause the Corporation Company to breach any provision of applicable Delaware Bermuda law or regulation. The Corporation Company shall mail a copy of this certificate with the notice of any redemption.

Procedures for Redemption. The redemption price for any shares of Series A Preferred Stock Preference Shares shall be payable on the Redemption Date to the holders of such shares against book-entry transfer or surrender of the certificate(s) evidencing such shares to the Corporation Company or its agent. Any declared but unpaid dividends payable on a Redemption Date that occurs subsequent to the Dividend Record Date for a Dividend Period shall not be paid to the holder entitled to receive the redemption price on the Redemption Date, but rather shall be paid to the holder of record of the redeemed shares on such Dividend Record Date relating to the Dividend Payment Date as provided in Section 4 herein. Prior to delivering any notice of redemption as provided below, the Corporation Company shall file with its corporate records a certificate signed by one of the CorporationCompany’s officers affirming the CorporationCompany’s compliance with the redemption provisions under the DGCL Companies Act relating to the Series A Preferred StockPreference Shares, and stating that there are reasonable grounds for believing that the Corporation Company is, and after the redemption will be, able to pay its liabilities as they become due and that the redemption will not cause the Corporation Company to breach any provision of applicable Delaware Bermuda law or regulation. The Corporation Company shall mail a copy of this certificate with the notice of any redemption.