Examples of Holder Redemption Amount in a sentence
Notwithstanding anything herein contained to the contrary, if any portion of the Optional Redemption Amount or Holder Redemption Amount remains unpaid after such date, the Holder may elect, by written notice to the Company given at any time thereafter, to invalidate such Optional Redemption or Holder Redemption, ab initio, and, with respect to the Company’s failure to honor the Optional Redemption, the Company shall have no further right to exercise such Optional Redemption.
The Holder Redemption Amount is payable in full on the Holder Redemption Date.
The Company shall promptly, but in any event no more than three (3) Trading Days after the date that the Holder delivers a Holder Redemption Notice to the Company (the “Holder Redemption Payment Date”), pay the applicable Holder Redemption Amount to the Holder in cash by wire transfer of immediately available funds.
Upon receipt of the Corporation Redemption Amount or the Holder Redemption Amount, as applicable, each holder of the certificate or certificates representing the shares of Series C Convertible Preferred Stock being redeemed shall promptly deliver such certificate or certificates to the Corporation at its principal place of business.
On such Redemption Date, the Corporation shall tender the Corporation Redemption Amount or the Holder Redemption Amount, as applicable, by wire transfer of immediately available funds to an account designated in writing by each holder.
Sponsor reserves the right, in its sole discretion, to substitute any Prize with a prize of equal or greater value, including, without limitation, but at Sponsor’s sole discretion, a cash award.
If any portion of the cash payment for an Optional Redemption or Holder Redemption shall not be paid by the Company by the respective due date, interest shall accrue thereon at the rate of 18% per annum (or the maximum rate permitted by applicable law, whichever is less) until the payment of the Optional Redemption Amount or Holder Redemption Amount, plus all amounts owing thereon is paid in full.
Alternatively, if any portion of the Optional Redemption Amount or Holder Redemption Amount, as applicable, remains unpaid after such date, the Holders subject to such redemption may elect, by written notice to the Company given at any time thereafter, to invalidate ab initio such redemption, notwithstanding anything herein contained to the contrary, and, with respect the failure to honor the Optional Redemption as applicable, the Company shall have no further right to exercise such Optional Redemption.
The Holder Redemption Amount is due and payable on, and contingent upon, the closing or occurrence of the Fundamental Transaction or the Change of Control Transaction, provided that for a Change of Control Transaction pursuant to clause (v) therein, such payment shall be contingent upon, and occur on, the closing of the applicable agreement.
Following the delivery of any Optional Holder Redemption Notice, the Company shall pay the Holder the Optional Holder Redemption Amount by wire transfer of immediately available funds on the First Optional Holder Redemption Date or the Second Optional Holder Redemption Date, as applicable (the date on which the Optional Holder Redemption Amount is received by the Holder is referred to herein as the “Optional Holder Redemption Date”).