Preferred Call definition
Examples of Preferred Call in a sentence
The Company’s rights with respect to the Preferred Call Option are not assignable or transferable.
In connection with the condition imposed by this Section 5(b), the Trustee may take whatever steps are required to provide economic uniformity to such Sponsor Common Units in preparation for a transfer thereof, including the application of Sections 2(d) and 4(b)(x); provided, however, that no such steps may be taken that would have a material adverse effect on the Trust Unitholders holding Public Common Units.
The Preferred Call may be exercised by the Company with respect to the Class A Units held by such Class A Member at any time after the third anniversary of the Closing Date by delivery of written notice to such Class A Member.
In the event that the Company elects to exercise the Preferred Call Option, then such exercise shall be directed to all Covered Investors then owning Company Preferred Stock on a pro rata basis.
The Preferred Call Option may be exercised by the Company only after the seventh (7th) anniversary of the Closing Date; provided, that, in the event the Company exercises the Preferred Call Option, each Covered Investor may, by written notice delivered to the Company not fewer than five (5) Business Days before the scheduled Call Option Closing, exercise such Covered Investor’s right to convert the Company Preferred Stock into Company Common Stock.
The Company shall comply with such written direction in connection with the consummation of the Preferred Call Option at the scheduled Call Option Closing provided that the Company is able to purchase, in the aggregate, the number of shares of Company Preferred Stock specified in the Company’s notice of its exercise of the Preferred Call Option.
In the event that the Company exercises the Preferred Call Option, the price to be paid to each Covered Investor per share of Company Preferred Stock then owned by such Covered Investor will be paid in cash in an amount equal to the Company Preferred Stock Cash Amount.
If Company fails to deliver a Call Notice during the Call Exercise Period, Company shall have forfeited the Preferred Call Option.
Eco Telecom shall not amend or waive any provision of, or assign or otherwise transfer any of its obligations under, the Eco Telecom Preferred Stock Purchase Agreement, the Zimin Common Pledge Agreement, the Zimin Preferred Pledge Agreement, the Zimin Common Call Option Agreement or the Zimin Preferred Call Option Agreement, in each case, without the prior written consent of the Issuer, which consent shall not be unreasonably withheld.
At any time within two Business Days from the date of BPY’s receipt of such notice, BPY may elect to exercise the Preferred Call Right and shall give written notice to the Partnership and to the holder of the Series 3 Units of such election (the “Preferred Call Notice”).