Common use of Redemption Rights Clause in Contracts

Redemption Rights. Notwithstanding anything to the contrary contained herein, at any time during the periods set forth on the table immediately following this paragraph (the “Redemption Periods”), the Company will have the right, at the Company’s option, to redeem all or any portion of the shares of Series B Preferred Stock, exercisable on not more than three (3) Trading Days (as defined herein) prior written notice to the Holders, in full, in accordance with this Section 3(b). Any notice of redemption hereunder (an “Optional Redemption Notice”) shall be delivered to each Holder at its registered addresses and shall state: (1) that the Company is exercising its right to redeem the Series B Preferred Stock, and (2) the date of redemption which shall be not more than three (3) Trading Days (as defined herein) from the date of the Optional Redemption Notice. On the date fixed for redemption (the “Optional Redemption Date”), the Company shall make payment of the Optional Redemption Amount (as defined herein) to the applicable Holder. If the Company exercises its right to redeem the Series B Preferred Stock, the Company shall make payment to the applicable Holder(s) of an amount in cash equal to the percentage (“Redemption Percentage”) as set forth in the table immediately following this paragraph opposite the applicable Redemption Period, multiplied by the sum of an amount equal to (i) the total number of Series B Preferred Stock held by the applicable Holder multiplied by (ii) the Conversion Price (the “Optional Redemption Amount”). Redemption Period Redemption Percentage The period beginning on the date of the issuance of shares of Series B Preferred Stock (the “Issuance Date”) and ending on the date which is three hundred sixty (360) days following the Issuance Date. 110%

Appears in 6 contracts

Samples: Debt Conversion Agreement (Leet Technology Inc.), Debt Conversion Agreement (Leet Technology Inc.), Debt Conversion Agreement (Leet Technology Inc.)

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Redemption Rights. Notwithstanding anything Subject to and in accordance with the provisions of this Section 3.8, each Partner shall have the right (a “Redemption Right”) to request that the Partnership redeem for cash at the Current Unit Value in the case of Units, or at the Current Participation Interest Value in the case of a Participation Interest, all or a portion of the Units or Participation Interest held by such Partner by delivering a notice (a “Notice of Redemption”) to the contrary contained herein, Partnership and the Managing General Partner specifying the number of Units or the portion of the Participation Interest held by such Partner (a “Redeeming Partner”) that it requests to be redeemed at any time during within the periods set forth on last 45 days of any calendar year ending after the table immediately following later of (i) the last day of the Initial Investment Period and (ii) the first anniversary of the date such Partner acquired the Units or such portion of its Participation Interest that it seeks to redeem. If, and beginning with the first day of the first taxable year in which, the Partnership no longer qualifies for the Private Placement PTP Exemption, the Redemption Right shall comply with the requirements of Regulations Section 1.7704-1(f) and shall be construed and administered in accordance therewith. The Managing General Partner may modify the Redemption Right from time to time in its discretion to ensure that the terms of the Redemption Right comply and continue to comply with such requirements. If a Partner requests a redemption pursuant to the first sentence of this paragraph Section 3.8 (the a Redemption PeriodsLiquidating Redemption”), the Company will have Managing General Partner shall use its reasonable best efforts to cause the right, at the Company’s option, Partnership to redeem all the number of Units or any the portion of the shares Participation Interest specified in the Notice of Series B Preferred StockRedemption for cash at the Current Unit Value in the case of Units, exercisable on not more than three (3) Trading Days (as defined herein) prior written notice to or at the HoldersCurrent Participation Interest Value in the case of a Participation Interest, in full, in accordance with this Section 3(b). Any notice each case as of redemption hereunder (an “Optional Redemption Notice”) shall be delivered to each Holder at its registered addresses and shall state: (1) that the Company is exercising its right to redeem the Series B Preferred Stock, and (2) the date of redemption which shall be not more than three (3) Trading Days (as defined herein) from redemption, on or before the date last day of the Optional calendar year following the year in which such Notice of Redemption Notice. On the date fixed for redemption (the “Optional Redemption Date”)was delivered, the Company shall make payment of the Optional Redemption Amount (as defined herein) subject to the applicable Holder. If the Company exercises its right to redeem the Series B Preferred Stock, the Company shall make payment to the applicable Holder(s) of an amount in cash equal to the percentage (“Redemption Percentage”) as set forth in the table immediately following this paragraph opposite the applicable Redemption Period, multiplied by the sum of an amount equal to (i) the total number of Series B Preferred Stock held by the applicable Holder multiplied by (ii) the Conversion Price (the “Optional Redemption Amount”). Redemption Period Redemption Percentage The period beginning on the date of the issuance of shares of Series B Preferred Stock (the “Issuance Date”) and ending on the date which is three hundred sixty (360) days following the Issuance Date. 110%following:

Appears in 2 contracts

Samples: Management and Leasing Agreement (Hines Real Estate Investment Trust Inc), Hines Real Estate Investment Trust Inc

Redemption Rights. Notwithstanding anything Subject to and in accordance with the provisions of this Section 3.8, each Partner shall have the right (a “Redemption Right”) to request that the Partnership redeem for cash at the Current Unit Value in the case of Units, or at the Current Participation Interest Value in the case of a Participation Interest, all or a portion of the Units or Participation Interest held by such Partner by delivering a notice (a “Notice of Redemption”) to the contrary contained herein, Partnership and the Managing General Partner specifying the number of Units or the portion of the Participation Interest held by such Partner (a “Redeeming Partner”) that it requests to be redeemed at any time during within the periods set forth on last 45 days of any calendar year ending after the table immediately following later of (i) the last day of the Initial Investment Period and (ii) the first anniversary of the date such Partner acquired the Units or such portion of its Participation Interest that it seeks to redeem. If, and beginning with the first day of the first taxable year in which, the Partnership no longer qualifies for the Private Placement PTP Exemption, the Redemption Right shall comply with the requirements of Regulations Section 1.7704-1(f) and shall be construed and administered in accordance therewith. The Managing General Partner may modify the Redemption Right from time to time in its discretion to ensure that the terms of the Redemption Right comply and continue to comply with such requirements. If a Partner requests a redemption pursuant to the first sentence of this paragraph Section 3.8 (the a Redemption PeriodsLiquidating Redemption”), the Company will have the right, at the Company’s option, Managing General Partner shall use its reasonable best efforts to redeem all the number of Units or any the portion of the shares Participation Interest specified in the Notice of Series B Preferred StockRedemption for cash at the Current Unit Value in the case of Units, exercisable or at the Current Participation Interest Value in the case of a Participation Interest, on not more than three (3) Trading Days (as defined herein) prior written notice or before the last day of the calendar year following the year in which such Notice of Redemption was delivered, subject to the Holders, in full, in accordance with this Section 3(b). Any notice of redemption hereunder (an “Optional Redemption Notice”) shall be delivered to each Holder at its registered addresses and shall state: (1) that the Company is exercising its right to redeem the Series B Preferred Stock, and (2) the date of redemption which shall be not more than three (3) Trading Days (as defined herein) from the date of the Optional Redemption Notice. On the date fixed for redemption (the “Optional Redemption Date”), the Company shall make payment of the Optional Redemption Amount (as defined herein) to the applicable Holder. If the Company exercises its right to redeem the Series B Preferred Stock, the Company shall make payment to the applicable Holder(s) of an amount in cash equal to the percentage (“Redemption Percentage”) as set forth in the table immediately following this paragraph opposite the applicable Redemption Period, multiplied by the sum of an amount equal to (i) the total number of Series B Preferred Stock held by the applicable Holder multiplied by (ii) the Conversion Price (the “Optional Redemption Amount”). Redemption Period Redemption Percentage The period beginning on the date of the issuance of shares of Series B Preferred Stock (the “Issuance Date”) and ending on the date which is three hundred sixty (360) days following the Issuance Date. 110%following:

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Hines Real Estate Investment Trust Inc), Assignment and Assumption Agreement (Hines Real Estate Investment Trust Inc)

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Redemption Rights. Notwithstanding anything to Per the contrary contained hereinattached Exhibit B, Article V Authorized Stock, provision “6) Redemption” under the heading Series C Preferred Stock, “at any time during the periods set forth on option of the table immediately following this paragraph (the “Redemption Periods”)Corporation, the Company will Corporation shall have the right, at the Company’s optionin whole or in part, to redeem all or any portion a quantity of the shares of Series B C Preferred Stock, exercisable on not more than three (3) Trading Days (Stock held by any holder as defined herein) prior specified in a written notice to the Holders, in full, in accordance with this Section 3(b). Any notice of redemption hereunder (an Optional Redemption Notice”) shall be delivered to each Holder at its registered addresses and shall state: (1) that )”, the Company is exercising its right to may redeem the Series B Preferred Stock, and (2) the date of redemption which shall be not more than three (3) Trading Days (as defined herein) from the date of the Optional Redemption Notice. On the date fixed for redemption (the “Optional Redemption Date”), the Company shall make payment of the Optional Redemption Amount (as defined herein) to the applicable Holder. If the Company exercises its right to redeem the Series B Preferred Stock, the Company shall make payment to the applicable Holder(s) of an amount in cash equal to the percentage (“Redemption Percentage”) as set forth in the table immediately following this paragraph opposite the applicable Redemption Period, multiplied by the sum of an amount equal to (i) the total number of Series B C Preferred Stock held by the applicable Holder multiplied Debtholder. For purposes of this Agreement, the Company agrees that any Redemption of the Series C Preferred Stock held by the Debtholder under the aforementioned provision “6) Redemption” must occur not later than one calendar year from the Effective Date of this Agreement, which period may be extended by written agreement of the Debtholder and the Company by the payment to the Debtholder of consideration to be determined by the Debtholder for said extension. The Company agrees that any Redemption Notice will allow not less than fifteen (ii15) the Conversion Price business days before such Redemption is effective (the “Optional Redemption AmountPeriod”). , during which Redemption Period Redemption Percentage The period beginning on the date of Debtholder shall have the issuance of shares of right to (a) convert, in whole or in part in accordance with all federal and state law and regulation, its Series B C Preferred Stock (to common stock as described in Exhibit B, Article V Authorized Stock, provision “5) Conversion” under the “Issuance Date”) and ending on heading Series C Preferred Stock. In the date which is three hundred sixty (360) days following event that the Issuance Date. 110%Debtholder, his successors or assigns, transfers, pledges, or hypothecates its Series C Preferred Stock prior to Redemption, any beneficial third party holder of such Series C Preferred Stock will still be subject to the Redemption.

Appears in 1 contract

Samples: Exchange Agreement (Rocky Mountain High Brands, Inc.)

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