Net Redemption Amount definition

Net Redemption Amount means the positive difference, if any, between (i) the aggregate amount of payments to be made to the holders of SPAC Class A Ordinary Shares that have elected to redeem all or a portion of their SPAC Class A Ordinary Shares at the per-share price equal to each such holder’s pro rata share of the Trust Account pursuant to the SPAC Share Redemption minus (ii) aggregate amount of funds in excess of US$125,000,000 to be paid by certain investors to purchase SPAC Class A Ordinary Shares pursuant to Private Placements and the Subscription Agreements relating to the Private Placements (it being understood that if the difference between clauses (i) and (ii) above shall be zero or a negative number, then there shall be no Net Redemption Amount and the provisions of this Section 3 shall not apply) and (b) the “Net Redemption Percentage” means a percentage equal to the quotient of (i) the Net Redemption Amount, if any, divided by (ii) the amount of funds contained in the Trust Account as of the Reference Time (prior to giving effect to the exercise of the SPAC Share Redemption). This Section 3 shall be void and of no force and effect if the BCA shall be terminated in accordance with its terms or the Closing shall not occur for any reason.
View Source
Net Redemption Amount for any period means an amount (if positive) equal to (A) the aggregate amount of all redemptions, retirements, purchases or other acquisitions for value, direct or indirect, of any Equity Interests of the Borrower during such period MINUS (B) the aggregate amount of Net Cash Proceeds realized from the sale of Equity Interests (other than Disqualified Stock) of the Borrower to customers of the Borrower and its Subsidiaries during such period.
View Source

Examples of Net Redemption Amount in a sentence

  • The Company shall pay the Net Redemption Price to the Sellers in monthly installments in the amount of $40,000 (the "Monthly Redemption Payment"), with the first installment thereof due on July 1, 2003 and subsequent installments thereof due on the first business day of each succeeding month (each, a "Payment Date") until the Net Redemption Amount has been paid in full.

  • The Net Redemption Amount will be paid to the beneficial owners within four Business Days.

  • For purposes of clause (ii) above, the "PERMITTED CARRYOVER AMOUNT" for any period shall be equal to the dollar amount specified for permitted Net Redemption Amounts identified in clauses (A), (B) or (C), as applicable for the prior year (in the case of clauses (B) and (C), as such amount may be increased as a result of any Permitted Carryover Amount being added thereto) MINUS the actual Net Redemption Amount for such year.

  • The Owned Debentures shall be redeemed by the Company at an amount equal to the Aggregate Redemption Price set forth opposite each Seller's name on the attached Schedule I less any conversions of the Owned Debentures by the Sellers in accordance with Section 4 hereof (the "Net Redemption Amount").

  • For the purposes of illustration only: If Part Payment amounts to US$4,000,000: The Net Redemption Amount is US$4,000,000 less US$500,00 = US$3,500,000 Number of Convertible Bonds held by Investec to be redeemed (rounded down) is: 58.33% x 3,500,000/100,000 = 20 A Noteholder’s “Proportionate Share” is the percentage figure set forth in the last column of the table in clause 2.1.

  • Such Transaction Fee and additional amounts, if any, shall be included in the calculation of the Cash Payment or Net Redemption Amount in connection with the creation or redemption order.