Examples of Redemption Right in a sentence
If a Redemption Right is so specified, this Security may be redeemed at the option of the Company on any Business Day on and after the date, if any, specified on the face hereof (each, a "Redemption Date").
Unless a Redemption Right is specified on the face hereof, this Security shall not be redeemable at the option of the Company before the Maturity Date specified on the face hereof.
Pursuant to the terms and conditions of the Indenture, each Debentureholder has the right to elect to receive payment of the Redemption Price by way of the issuance of such number of Common Shares obtained by dividing the Redemption Price by the Conversion Price (initially equal to $0.45 per Common Shares, subject to adjustment in accordance with the terms of the Indenture) (the "Common Share Redemption Right").
Aggregate Principal Amount of Debentures subject to the Common Share Redemption Right: $_____________________________ The Debentureholder directs that the Common Shares of the Corporation issuable in respect of the Common Share Redemption Right be issued and delivered to the person indicated below.
Dated: (Name of Registered Holder) (Signature of Registered Holder) No fractional Common Shares shall be delivered upon the exercise of the Common Share Redemption Right but, subject to the terms and condition of the Indenture, in lieu thereof, the Debentureholder shall receive the cash equivalent thereof determined on the basis of the Conversion Price (less any tax required to be deducted, if any); provided, however the Corporation shall not be required to make any payment of less than $20.00.