Common use of Redemption Condition Clause in Contracts

Redemption Condition. (a) The Company shall only be entitled to issue a Redemption Notice if as at the date of the Redemption Notice the Conditions (including without limitation the Condition in clause 10.2(e)(xv), but excluding the application of paragraph f(ii) of the definition of “Equity Conditions” and of clauses 10.2(e)(iii), (iv), (vi), (viii) and (ix)(C)) continue to be satisfied by the Company. (b) The Company shall only be entitled to redeem the Convertible Securities pursuant to clause 7 if at the Redemption Date, the Conditions (including without limitation the condition in clause 10.2(e)(xv), but excluding the application of paragraph f(ii) of the definition of “Equity Conditions” and of clauses 10.2(e)(iii), (iv), (vi), (viii) and (ix)(C)) continue to be satisfied by the Company. (c) If for any reason the Company is not entitled to proceed with a redemption of the Convertible Securities under this clause 7.4, the Convertible Securities shall remain on issue on the terms of this Agreement, notwithstanding the issue of a Redemption Notice.