Common use of Shares to Be Repurchased Pursuant to a Redemption Clause in Contracts

Shares to Be Repurchased Pursuant to a Redemption. If, on a Redemption Date, the Paying Agent holds consideration in kind and amount that is sufficient to pay the aggregate Redemption Price due on such date, then (unless there occurs a default in the payment of the Redemption Price) (1) the Convertible Preferred Stock to be redeemed on such date will be deemed, as of such date, to cease to be outstanding (without limiting the Company’s obligations pursuant to Section 5(d)); and (2) the rights of the Holders of such Convertible Preferred Stock, as such, will terminate with respect to such Convertible Preferred Stock, other than the right to receive the Redemption Price as provided in Section 7 (and, if applicable, declared Dividends as provided in Section 5(d)).

Appears in 3 contracts

Samples: Securities Purchase Agreement (Cryoport, Inc.), Securities Purchase Agreement (FireEye, Inc.), Securities Purchase Agreement (FireEye, Inc.)

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Shares to Be Repurchased Pursuant to a Redemption. If, on a Redemption Date, the Paying Agent holds Company has segregated, solely for the benefit of the applicable Holders, consideration in kind and amount that is sufficient to pay the aggregate Redemption Price due on such date, then (unless there occurs a default in the payment of the Redemption Price) (1) the Convertible Preferred Stock to be redeemed on such date will be deemed, as of such date, to cease to be outstanding outstanding; (without limiting the Company’s obligations pursuant 2) Regular Dividends will cease to Section 5(d))accumulate on such Convertible Preferred Stock from and after such Redemption Date; and (23) the rights of the Holders of such Convertible Preferred Stock, as such, will terminate with respect to such Convertible Preferred Stock, other than the right to receive the Redemption Price as provided in Section 7 (and, if applicable, declared Dividends as provided in Section 5(d))7.

Appears in 2 contracts

Samples: Investment Agreement (EVO Payments, Inc.), Investment Agreement (Rhythm Pharmaceuticals, Inc.)

Shares to Be Repurchased Pursuant to a Redemption. If, on a Redemption Date, the Paying Agent holds consideration in kind and amount that is sufficient to pay the aggregate Redemption Price due on such date, then (unless there occurs a default in the payment of the Redemption Price) ): (1) the shares of Convertible Preferred Stock to be redeemed on such date will be deemed, as of such date, to cease to be outstanding (without limiting the CompanyCorporation’s obligations pursuant to Section 5(d6(c)); and (2) the rights of the Holders of such shares of Convertible Preferred Stock, as such, will terminate with respect to such Convertible Preferred Stock, other than the right to receive the Redemption Price as provided in Section 7 8 (and, if applicable, declared Dividends as provided in Section 5(d6(c)).

Appears in 2 contracts

Samples: Securities Purchase Agreement (APi Group Corp), Securities Purchase Agreement (APi Group Corp)

Shares to Be Repurchased Pursuant to a Redemption. If, on a Redemption Date, the Paying Agent holds consideration in kind and amount that is sufficient to pay the aggregate Redemption Price due on such date, then (unless there occurs a default in the payment of the Redemption Price) ): (1) the shares of Convertible Preferred Stock to be redeemed on such date will be deemed, as of such date, to cease to be outstanding (without limiting the CompanyCorporation’s obligations pursuant to Section 5(d6(c)); and (2) the rights of the Holders of such shares of Convertible Preferred Stock, as such, will terminate with respect to such Convertible Preferred Stock, other than the right to receive the Redemption Price as provided in Section 7 8 (and, if applicable, declared Dividends as provided in Section 5(d6(d)).

Appears in 1 contract

Samples: Registration Rights Agreement (Upland Software, Inc.)

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Shares to Be Repurchased Pursuant to a Redemption. If, on a Redemption Date, the Paying Agent holds consideration in kind and amount that is sufficient to pay the aggregate Redemption Price due on such date, then (unless there occurs a default in the payment of the Redemption Price) (1) the Convertible Preferred Stock to be redeemed on such date will be deemed, as of such date, to cease to be outstanding (without limiting the Company’s obligations pursuant to Section 5(d)); and (2) the rights of the Holders of such Convertible Preferred Stock, as such, will terminate with respect to such Convertible Preferred Stock, other than the right to receive the Redemption Price as provided in Section 7 (and, if applicable, declared Dividends as provided in Section 5(d)).

Appears in 1 contract

Samples: Securities Purchase Agreement (Azz Inc)

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