Common use of Redemption Procedure Clause in Contracts

Redemption Procedure. The payment of cash pursuant to an Optional Redemption or a Holder Optional Redemption shall be payable on the Optional Redemption Date or Holder Optional Redemption Date. If any portion of the payment pursuant to an Optional Redemption or Holder Optional Redemption shall not be paid by the Company by the applicable due date, interest shall accrue thereon at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted by applicable law until such amount is paid in full. Notwithstanding anything herein contained to the contrary, if any portion of an Optional Redemption Amount in connection with an Optional Redemption remains unpaid after such date, the Holder may elect, by written notice to the Company given at any time thereafter, to invalidate such Optional Redemption, ab initio, and, with respect to the Company’s failure to honor the Optional Redemption, the Company shall have no further right to exercise such Optional Redemption. The Holder may elect to convert the outstanding principal amount of the Debenture pursuant to Section 4 prior to actual payment in cash for any redemption under this Section 6 by the delivery of a Notice of Conversion to the Company.

Redemption Procedure. The payment of cash pursuant to an Optional Redemption or a Holder Optional Periodic Redemption shall be payable on the Optional Redemption Date or Holder Optional the Periodic Redemption Date, respectively. If any portion of the payment pursuant to an Optional Redemption or Holder Optional Periodic Redemption shall not be paid by the Company by the applicable due date, interest shall accrue thereon at an interest rate equal to the lesser of eighteen percent (18% %) per annum or the maximum rate permitted by applicable law Maximum Rate until such amount is paid in full. Notwithstanding anything herein contained to the contrary, if any portion of an the Optional Redemption Amount in connection with an Optional or Periodic Redemption Amount remains unpaid after such date, the Holder may elect, by written notice to the Company given at any time thereafter, to invalidate such Optional Redemption or Periodic Redemption, ab initio, and, with respect to the Company’s failure to honor the Optional Redemption, the Company shall have no further right to exercise such Optional Redemption. The Holder may elect to convert the outstanding principal amount of the Debenture pursuant to Section 4 prior to actual payment in cash for any redemption under this Section 6 by the delivery of a Notice of Conversion to the Company.

Redemption Procedure. The payment of cash pursuant to an Optional Redemption or a Holder Optional Periodic Redemption shall be payable on the Optional Redemption Date or Holder Optional the Periodic Redemption Date. If any portion of the payment pursuant to an Optional Redemption or Holder Optional Periodic Redemption shall not be paid by the Company by the applicable due date, interest shall accrue thereon at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted by applicable law until such amount is paid in full. Notwithstanding anything herein contained to the contrary, if any portion of an the Optional Redemption Amount in connection with an Optional or Periodic Redemption Amount remains unpaid after such date, the Holder may elect, by written notice to the Company given at any time thereafter, to invalidate such Optional Redemption or Periodic Redemption, ab initio, and, with respect to the Company’s failure to honor the Optional Redemption, the Company shall have no further right to exercise such Optional Redemption. The Holder may elect to convert the outstanding principal amount of the Debenture pursuant to Section 4 prior to actual payment in cash for any redemption under this Section 6 by the delivery of a Notice of Conversion to the Company.

Redemption Procedure. The payment of cash pursuant to an Optional Redemption or a Holder Optional Redemption shall be payable in full on the Optional Redemption Date or Holder Optional Redemption Date. If any portion of the payment pursuant to an Optional Redemption or Holder Optional Redemption shall not be paid by the Company by the applicable due date, interest shall accrue thereon at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted by applicable law until such amount is paid in full. Notwithstanding anything herein contained to the contrary, if any portion of an the Optional Redemption Amount in connection with an Optional Redemption remains unpaid after such date, the Holder may elect, by written notice to the Company given at any time thereafterthereafter and upon return of funds paid by the Company on any portion of such Optional Redemption Amount, to invalidate such Optional Redemption, ab initio, and, with respect to the Company’s failure to honor the Optional Redemption, the Company shall have no further right to exercise such any Optional Redemption. Notwithstanding anything to the contrary in this Section 6, the Company’s determination to redeem in cash under Section 6(a) shall be applied ratably among the Holders of then outstanding Debentures. The Holder may elect to convert the outstanding principal amount of the Debenture pursuant to Section 4 prior to actual payment in cash for any redemption Optional Redemption under this Section 6 by the delivery of a Notice of Conversion to the CompanyCompany during the Option Redemption Period. The Company covenants and agrees that it will honor all Notices of Conversion tendered during the Option Redemption Period.

Redemption Procedure. The payment of cash pursuant to an Optional Redemption or a Holder First Year Optional Redemption shall be payable on the Optional Redemption Date or Holder First Year Optional Redemption Date, as applicable. If any portion of the payment pursuant to an Optional Redemption or Holder First Year Optional Redemption shall not be paid by the Company by the applicable due date, interest shall accrue thereon at an interest rate equal to the lesser of 1816% per annum or the maximum rate permitted by applicable law until such amount is paid in full. Notwithstanding anything herein contained to the contrary, if any portion of an the Optional Redemption Amount in connection with an or First Year Optional Redemption Amount remains unpaid after such date, the Holder may elect, by written notice to the Company given at any time thereafter, to invalidate such Optional Redemption or First Year Optional Redemption, ab initio, and, with respect to the Company’s failure to honor the Optional Redemption, the Company shall have no further right to exercise such Optional Redemption or First Year Optional Redemption, as applicable. The Holder may elect to convert the outstanding principal amount of the Debenture pursuant to Section 4 prior to actual payment in cash for any redemption under this Section 6 by the delivery of a Notice of Conversion to the Company.

Redemption Procedure. The payment of cash pursuant to an Optional Redemption or a Holder Optional Mandatory Redemption shall be payable on the Optional Redemption Date or Holder Optional and the Mandatory Redemption Date, respectively. If any portion of the payment pursuant to an Optional Redemption or Holder Optional Mandatory Redemption shall not be paid by the Company by the applicable due date, interest shall accrue thereon at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted by applicable law until such amount is paid in full. Notwithstanding anything herein contained to the contrary, if any portion of an Optional the Redemption Amount in connection with an Optional Redemption remains unpaid after such date, the Holder may elect, by written notice to the Company given at any time thereafter, to invalidate such Optional Redemption, ab initio, and, with respect to the Company’s failure to honor the Optional Redemption, the Company shall have no further right to exercise such Optional Redemption. The With respect to an Optional Redemption, the Holder may elect to convert the outstanding principal amount of the Debenture pursuant to Section 4 5 prior to actual payment in cash for any redemption under this Section 6 7 by the delivery of a Voluntary Conversion Notice of Conversion to the Company.