Automatic Redemption. Upon the occurrence of a Triggering Event, and without any action on the part of the Corporation or any holder of outstanding share(s) of Series B Preferred Stock, each outstanding share of Series B Preferred Stock not previously converted pursuant to Section 6 shall be redeemed by the Corporation on the Redemption Date at the Redemption Price. Payments in cash shall be made solely out of funds legally available therefor.
Appears in 2 contracts
Sources: Share Purchase Agreement (Platform Specialty Products Corp), Share Purchase Agreement (Platform Specialty Products Corp)