Redeemed Shares Sample Clauses
The 'Redeemed Shares' clause defines the terms and conditions under which a company can buy back or redeem its own shares from shareholders. Typically, this clause outlines the process for redemption, including notice requirements, the price at which shares will be redeemed, and any restrictions or limitations on which shares are eligible. For example, it may specify that only certain classes of shares can be redeemed or that redemption can only occur after a set period. The core function of this clause is to provide a clear framework for share redemption, ensuring both the company and shareholders understand their rights and obligations, and to facilitate corporate restructuring or capital management as needed.
Redeemed Shares. Shares (other than Reinvested Shares and Free Appreciation Shares) that are redeemed will be allocated to the Distributor and each Other Distributor to the extent such Share was previously allocated to the Distributor or such Other Distributor in accordance with the rules set forth in 2(a) or (c) above. Reinvested Shares and Free Appreciation Shares that are redeemed will be allocated to the Distributor and each Other Distributor daily in an amount equal to the number of Free Appreciation Shares and Reinvested Shares of such Portfolio being redeemed on such date, which amount is obtained by multiplying the total number of Free Appreciation Shares and Reinvested Shares being redeemed by such Portfolio on such date by a fraction, the numerator of which is the total number of all Free Appreciation Shares and Reinvested Shares of such Portfolio outstanding as of the opening of business on such date allocated to the Distributor or to such Other Distributor as of such date of determination and the denominator is the total number of Free Appreciation Shares and Reinvested Shares of such Portfolio outstanding as of the opening of business on such date.
Redeemed Shares. Class B Shares (other than Reinvested Shares) that are redeemed will be allocated to IDI and each Other Distributor to the extent such Class B Shares were previously allocated to IDI or such Other Distributor in accordance with the rules set forth in 2(a) or (c) above.
Redeemed Shares. Shares (other than Reinvested Shares and Free Appreciation Shares) that are redeemed will be allocated to the Distributor and each Other Distributor to the extent such Share was previously allocated to the Distributor or such Other Distributor in accordance with the rules set forth in 2(a) or (c) above. Reinvested Shares and Free Appreciation Shares that are redeemed will be allocated to the Distributor and each Other Distributor daily in a number obtained by multiplying the total number of Free Appreciation Shares and Reinvested Shares being redeemed by such Portfolio on such date by a fraction, the numerator of which is the total number of all Free Appreciation Shares and Reinvested Shares of such Portfolio outstanding as of the opening of business on such date allocated to the Distributor or such Other Distributor as of such date of determination pursuant to these allocation procedures and the denominator is the total number of Free Appreciation Shares and Reinvested Shares of such Portfolio outstanding as of the opening of business on such date. The Trust shall use its best efforts to assure that the transfer agents and sub-transfer agents for each Portfolio maintain the data necessary to implement the foregoing rules. If, notwithstanding the foregoing, the transfer agents or sub-transfer agents for such Portfolio are unable to maintain the data necessary to implement the foregoing rules as written, or if the Distributor shall cease to serve as exclusive distributor of the Shares of the Portfolio, the Distributor and the Portfolio agree to negotiate in good faith with each other, with the transfer agents and sub-transfer agents for such
Redeemed Shares. Each Purchaser Ordinary Share for which a holder has validly exercised its right of Redemption shall be surrendered and cancelled and shall cease to exist and no consideration shall be delivered or deliverable in exchange therefor.
Redeemed Shares. After the Redemption Date with respect to any shares of ESOP Shares, such shares shall no longer be deemed to be outstanding and all rights with respect to such shares, including but not limited to the rights, if any, to receive notices or distributions and to vote, shall immediately cease and terminate on the Redemption Date, except only the right of the holders thereof to receive the Redemption Price therefor, without interest or any sum of money in lieu of interest thereon. Any shares of ESOP Shares redeemed pursuant to this Section 8 shall be retired and canceled after the acquisition thereof. All such shares shall upon their cancellation become authorized but unissued shares of Serial Preferred Stock and may be reissued as part of a new series of Serial Preferred Stock to be created by resolution or resolutions of the Board of Directors, subject to the conditions and restrictions set forth herein.
Redeemed Shares. Class B Shares (other than Reinvested Shares) that are redeemed will be allocated to AIM and each Other Distributor to the extent such Class B Shares were previously allocated to AIM or such Other Distributor in accordance with the rules set forth in 2(a) or (c) above.
Redeemed Shares. In connection therewith, the Subscriber agrees and acknowledges that in order to qualify as Non-Redeemed Shares, (a) such shares (along with any Related Redemption Rights) must have been held by the Subscriber as of fifth calendar day after the effectiveness of the F-4 Registration Statement, (b) the Subscriber shall not exercise any Redemption Rights with respect to such shares, (c) the Subscriber may not Transfer such shares prior to the Initial Closing Date, and (d) such shares must be voted in favor of each proposal contained in the Proxy Statement. The Subscriber further agrees and acknowledges that it shall not take any action in breach of any of the foregoing clauses (b) – (d).
Redeemed Shares. Any shares of Series A Preferred Stock which are redeemed by the Corporation shall be canceled and shall not be reissued, sold or transferred.
Redeemed Shares. Each SPAC Ordinary Share for which a holder has validly exercised its right of Redemption shall be surrendered and cancelled and shall cease to exist and no consideration shall be delivered or deliverable in exchange therefor, except for cash in accordance with the SPAC Charter and the IPO Prospectus.
Redeemed Shares. 3 Redemption.....................................................................1