Rejection; Acceptance. A Holder of Preferred Units may accept or reject the offer to redeem made pursuant to this Paragraph 4B by causing a written notice of such acceptance or rejection to be given to the Company within 30 days after such offer is made (or in the case where a Change in Control has already occurred, within 10 days after such offer is made) (any such notice specifying an acceptance of such offer, an “Acceptance”). Such Acceptance shall specify the number of Preferred Units to be so redeemed. A failure by such a Holder to respond to an offer to redeem made pursuant to this Paragraph 4B shall be deemed to constitute an acceptance of such offer as to all Preferred Units held by such Holder.
Appears in 3 contracts
Sources: Securities Purchase Agreement (Language Line Services Holdings, Inc.), Securities Purchase Agreement (LL Services Inc.), Securities Purchase Agreement (Language Line Holdings, Inc.)