Common use of Holder Redemption Exercise Clause in Contracts

Holder Redemption Exercise. In order to exercise its right to effect a Holder Redemption on the Holder Redemption Date, the Holder shall deliver a written notice (a “Holder Redemption Notice”) to the Company on a date not later than the fifth (5th) Business Day immediately preceding the Holder Redemption Date stating the portion of the principal amount of this Note which the Holder is electing to have redeemed, which portion must be a principal amount of $25,000 or an integral multiple thereof, if less than the entire outstanding principal amount of this Note is to be redeemed. Upon receipt by the Company of a Holder Redemption Notice, the Holder shall (unless such Holder Redemption Notice is validly withdrawn, as provided in Section 4(c) below) be entitled to receive the Holder Redemption Price with respect to the principal amount of this Note to be redeemed. Such Holder Redemption Price shall be paid to the Holder promptly but no later than two (2) Business Days following the Holder Redemption Date. The portion of this Note in respect of which a Holder Redemption Notice has been given by the Holder may not be exchanged or converted pursuant to Sections 7 or 8, respectively, hereof on or after the date of the delivery of such Holder Redemption Notice unless such Holder Redemption Notice has first been withdrawn as provided in Section 4(c).

Holder Redemption Exercise. In order to exercise its right to effect a Holder Redemption on the Holder Redemption Date, the Holder shall deliver a written notice (a “Holder Redemption Notice”"HOLDER REDEMPTION NOTICE") to the Company on a date not later than the fifth (5th) Business Day immediately preceding the Holder Redemption Date stating the portion of the principal amount of this Note which the Holder is electing to have redeemed, which portion must be a principal amount of $25,000 or an integral multiple thereof, if less than the entire outstanding principal amount of this Note is to be redeemed. Upon receipt by the Company of a Holder Redemption Notice, the Holder shall (unless such Holder Redemption Notice is validly withdrawn, as provided in Section SECTION 4(c) below) be entitled to receive the Holder Redemption Price with respect to the principal amount of this Note to be redeemed. Such Holder Redemption Price shall be paid to the Holder promptly but no later than two (2) Business Days following the Holder Redemption Date. The portion of this Note in respect of which a Holder Redemption Notice has been given by the Holder may not be exchanged or converted pursuant to Sections SECTIONS 7 or 8, respectively, hereof on or after the date of the delivery of such Holder Redemption Notice unless such Holder Redemption Notice has first been withdrawn as provided in Section SECTION 4(c).