Repurchase Program Sample Clauses

Repurchase Program. In connection with a Public Listing, KREF will adopt a program to repurchase in the open market up to $100 million in REIT Shares during the period commencing four (4) full calendar weeks after the closing of the initial Public Listing and ending 12 months thereafter (the “Repurchase Period”). Of this amount, a total of $50 million in REIT Shares will be required to be repurchased during such times when the market price per REIT Share is below the Repurchase Book Value, with the remaining $50 million available for repurchases of REIT Shares at any time during the Repurchase Period in each case based upon guidelines adopted by the board of directors of KREF. Repurchase may be made by KREF under the program either through direct transactions during open window periods or pursuant to a 10b5-1 plan with a registered broker-dealer or a combination thereof and otherwise will be subject to compliance with all applicable laws, including Rules 10b-5 and 10b-18 under the Securities Exchange Act of 1934, as amended, and Regulation M under the Securities Act of 1933, as amended. Notwithstanding the foregoing, repurchases shall not be required to be made during a blackout period of one week prior or subsequent to any quarterly distribution of REIT taxable income or such other time period as determined by the Board so as to satisfy the requirements for REIT status in connection with any quarterly distribution of REIT taxable income.

Repurchase Program. Approve the duration and amount of funds that may be allocated during the term of any Repurchase Program.

Repurchase Program. Lender hereby consents to Franklin Inc., to execute up to, but not to exceed, $1,000,000 of a board approved stock repurchase plan, provided that Franklin Inc., evidences and maintains, at all times, $3,000,000 of unencumbered liquidity of cash, cash equivalents and/or short term investments held for less than one year, to be reported on a monthly basis and so long as no Event of Default or Default shall have occurred. If Franklin Inc. executes a board approved stock repurchase plan, it shall do so in accordance with the Safe Harbor Provisions of SEC Rule 10b-18 of the Exchange Act and provide evidence of such compliance in the form of a legal opinion, provided by its SEC legal counsel, which such legal opinion shall be in form and substance reasonably satisfactory to the Lender. 22. Section 9.2 is hereby amended to read as follows:

Repurchase Program. Promptly after the date hereof, the Company shall reinstate its $75 million open market stock repurchase program (under which $15 million of Common Shares has previously been purchased) and use reasonable commercial efforts to repurchase Shares in accordance with such program from time to time; provided, however, that the Company shall not be obligated to make any stock repurchases if the Independent Committee determines that doing so would jeopardize the financial integrity of the Company. In the event that the full buyback authority under this repurchase program is not utilized within the initial anticipated one-year period, the program shall be extended for appropriate periods until the program is completed (subject to all applicable laws).

Repurchase Program. ISG has repurchased, pursuant to its previously announced share and/or warrant repurchase program, an aggregate of 7,648,188 shares of its common stock from certain shareholders at a purchase price equal to the pro rata portion of trust account on November 14, 2007. The 7,648,188 shares, repurchased for aggregate payments of approximately $60.8 million by ISG as of the Closing have not been reflected in the pro forma condensed consolidated balance sheet as of September 30, 2007. ISG has amended its repurchase program such that $15 million remains available for repurchases of shares and/or warrants after the Closing.