Effect of Notice; Redemption. Notice having been mailed as aforesaid, from and after the redemption date (unless default shall be made by the Corporation in providing money for the payment of the redemption of the shares so called for redemption), Dividends on the shares of the Class A Preferred Stock so called for redemption shall cease to accrue, and said shares shall no longer be deemed to be outstanding, and all rights of the holders thereof as stockholders of the Corporation (except the right to receive from the Corporation the redemption payment) shall cease. Upon surrender in accordance with said notice of the certificates for any shares so redeemed (properly endorsed or assigned for transfer, if the Board shall so require and the notice shall so state), such shares shall be redeemed by the Corporation at the Deemed Value plus accrued and unpaid Dividends.
Appears in 3 contracts
Sources: Agreement and Plan of Reorganization and Merger (Video Sentry Corp), Agreement and Plan of Reorganization and Merger (Video Sentry Corp), Merger Agreement (Knogo North America Inc)