Share Redemption. 18.14 The Borrower will procure that no member of the Group will directly or indirectly redeem, purchase, retire or otherwise acquire for consideration any shares issued by it or set apart any sum for any such purpose or otherwise reduce its capital (except where:
Share Redemption. ASI shall have completed the redemption of 1,793,214 of its shares of common stock such that the sole owner of record of ASI capital stock and the number of shares issued and outstanding shall be as set forth on Exhibit A-1.
Share Redemption. The Member acknowledges that the Shares represent ownership in Servus Credit Union and that the value of the Shares is neither guaranteed nor insured. Share redemptions are subject to approval by the President and CEO of Servus Credit Union, or his or her designate. Redemptions are also subject to restrictions under the Credit Union Act (Alberta) and regulations thereunder, and the bylaws of Servus Credit Union. Members are eligible for immediate payout of Shares in the following scenarios:
Share Redemption. If and to the extent that the Underwriters do not exercise in full their over-allotment option prior to the expiration or termination of such over-allotment option, the Company shall redeem, at cost, up to 2,812,500 Units sold pursuant to the Unit Subscription Agreement (“Sponsor Units”) from the holders thereof on a pro rata basis in an amount sufficient to cause the number of shares of Common Stock underlying the outstanding Sponsor Units held by the Initial Stockholders and their permitted transferees to equal 20% of the Company’s then-outstanding Common Stock after giving effect to the initial public offering (without giving effect to any Units purchased by the Initial Stockholders or any such transferees in the initial public offering) and the exercise, if any, of the Underwriters’ over-allotment option. The Company shall give effect to this mandatory redemption of Sponsor Units within 10 Business Days following the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option. If the Underwriters exercise their over-allotment option in full, the Company shall have no right or obligation to redeem any of the Sponsor Units.
Share Redemption. Subject to the terms of any Preferred Shares, the Company shall be entitled at its discretion to purchase for cancellation any Shares held by a Member provided such purchase does not violate Section 18-607 of the Act or other applicable law.
Share Redemption. The Shareholders of SSI listed on Schedule 7.6 hereto shall have delivered to counsel for SSI certificates representing the number of post-forward split shares of SSI set forth opposite their respective names to be redeemed and cancelled and returned to the status of authorized but unissued shares of SSI. The referenced shares shall be delivered by SSI's counsel to SSI's transfer agent for cancellation immediately following the Closing.
Share Redemption. (1) During the Share Redemption Period, the Company shall, as provided in Sections 2(d)(2) and 2(d)(3), redeem the principal installments of this Note due on November 2, 2005 and November 2, 2008 in whole or from time to time in part, in each such case by issuing the number of shares of Common Stock to the Holder determined as provided in Section 2(c)(2), so long as the following conditions precedent are satisfied:
Share Redemption. You acknowledge that the Shares represent ownership in the Credit Union and that the value of the Shares is neither guaranteed nor insured. You acknowledge that Shares may not be eligible for redemption until you have closed each Account under this membership and ceased using all services. You further acknowledge that the timing of the redemption of Shares and the payment of their value is at the sole discretion of the Credit Union.
Share Redemption. Upon withdrawal from or termination of membership, the Co‑op shall redeem the Member's Shares in the Co‑op in the amount and in the manner specified in the Rules.
Share Redemption. The Series B Preferred shares have a Redemption feature that allows the Corporation to purchase the shares back from the shareholder. The Corporation shall have the right to Redeem any or all of the Series B Preferred shares at any time for $1.00 per share in cash, unless other terms have been agreed to. The Corporation and the Series B shareholder may agree from time to time to exchange cash or shares of another class stock with the an equal or greater value of $1.00 per share.
