Common use of Redemption Clause in Contracts

Redemption. 7.1. The Issuer shall have no right to early redeem any Note. 7.2. If Notes have not been converted by the Note holder prior to their Maturity Date, (i) the Issuer shall have the right to redeem in cash the outstanding principal amount under the Notes on the Maturity Date or (ii) in the case the Issuer does not exercise the right to redeem in cash the outstanding principal amount under the Notes on the Maturity Date, the Investor shall convert all outstanding Notes on the Maturity Date. 7.3. Notwithstanding the above, at the Note holder’s discretion, the Issuer is required to early redeem in cash all or any Notes held by the applicable Note holder in the following circumstances: (i) failure to issue new Shares to each Note holder in accordance with the terms of the Agreement (for example in case of late delivery of the new Shares); or (ii) the occurrence of an Event of Default under the Agreement. 7.4. In the event of redemption in cash, the Issuer shall pay to each Note holder the aggregate outstanding principal amount of its Notes, in accordance with Paragraph 8 of this Schedule 2.