Common use of Grant of Redemption Rights Clause in Contracts

Grant of Redemption Rights. Upon the terms and subject to the conditions contained herein, the Company does hereby grant to the Lateral Parties, and the Lateral Parties do hereby accept, the right, but without obligation on the part of the Lateral Parties, to require the Company to redeem from time to time, out of funds legally available therefor, all or any part of the Redeemable Shares for the Redemption Price (“Redemption Rights”). The Lateral Parties agree that they will not exercise their Redemption Rights pursuant to this Section 2 if the exercise of such Redemption Rights would, in the good faith opinion of the Company’s accountants, prevent the Company from continuing as a going concern.