Modification of Redemption Procedures Clause Samples

The "Modification of Redemption Procedures" clause allows for changes to the established process by which securities or interests can be redeemed. This clause typically outlines the conditions under which the issuer or another authorized party may alter deadlines, notice requirements, or methods for redeeming securities. For example, it may permit the issuer to update the redemption process in response to regulatory changes or operational needs. Its core function is to provide flexibility and adaptability in the redemption process, ensuring that procedures remain effective and compliant as circumstances evolve.
Modification of Redemption Procedures. Notwithstanding the foregoing provisions of this Section 2.6, the Fund may, in its sole discretion and without a shareholder vote, modify the procedures set forth above with respect to notification of redemption for the RVMTP Shares, provided that such modification does not materially and adversely affect the Holders of the RVMTP Shares or cause the Fund to violate any applicable law, rule or regulation; and provided further that no such modification shall in any way alter the rights or obligations of the Calculation and Paying Agent without its prior consent.
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Modification of Redemption Procedures. Notwithstanding any of the foregoing provisions of this Section 11, the Trust may modify any or all of the requirements relating to the Notice of Redemption provided that (i) any such modification does not materially and adversely affect any holder of Preferred Shares, and (ii) the Trust receives notice from ▇▇▇▇▇'▇ (if ▇▇▇▇▇'▇ is then rating the Preferred Shares) and Fitch (if Fitch is then rating the Preferred Shares) that such modification would not impair the ratings assigned by ▇▇▇▇▇'▇ and Fitch to the Preferred Shares.
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Modification of Redemption Procedures. Notwithstanding the foregoing provisions of this Section 5, the Partnership may, in its sole discretion, modify the procedures set forth above with respect to notification of redemption for the Series C Term Preferred Units; provided that such modification does not materially and adversely affect the holders of the Series C Term Preferred Units or cause the Partnership to violate any applicable law, rule or regulation; and provided, further, that no such modification shall in any way alter the rights or obligations of the Redemption and Paying Agent without its prior consent.
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Modification of Redemption Procedures. Notwithstanding any of the foregoing provisions of this Section 11, the Trust may modify any or all of the requirements relating to the Notice of Redemption provided that (i) any such modification does not materially and adversely affect any holder of Preferred Shares, and
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Modification of Redemption Procedures. Notwithstanding the foregoing provisions of this Section 5, the Corporation may, in its sole discretion and without a stockholder vote, modify the procedures set forth above with respect to notification of redemption for the Series A Preferred Stock; provided that such modification does not materially and adversely affect the holders of the shares of Series A Preferred Stock or cause the Corporation to violate any applicable law, rule or regulation; and provided, further, that no such modification shall in any way alter the rights or obligations of the Redemption and Paying Agent without its prior consent.
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Related to Modification of Redemption Procedures

  • Effect of Redemption If the Board of Directors elects or is deemed to have elected to redeem the Rights, (i) the right to exercise the Rights will thereupon, without further action and without notice, terminate and the only right thereafter of the holders of Rights shall be to receive the Redemption Price, and (ii) subject to Subsection 5.1(f) no further Rights shall be issued.

  • Waiver of Redemption Tenant hereby waives, for itself and all persons claiming by and under Tenant, all rights and privileges which it might have under any present or future Legal Requirement to redeem the Premises or to continue this Lease after being dispossessed or ejected from the Premises.

  • Selection and Notice of Redemption If less than all of the Notes are to be redeemed in an offer to purchase at any time, the Trustee shall select the Notes to be redeemed among the Holders of the Notes in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed or, if the Notes are not so listed, on a pro rata basis, by lot or in accordance with any other method the Trustee considers fair and reasonable (subject to the procedures of DTC or any other Depositary). Redemptions pursuant to Section 3.07(b) of the Indenture shall be made on a pro rata basis or on as nearly a pro rata basis as practicable (subject to the provisions of the Depositary). In the event of partial redemption by lot, the particular Notes to be redeemed shall be selected prior to giving notice of such redemption by the Trustee from the outstanding Notes not previously called for redemption. Notices of redemption may not be conditional, except as provided in Section 3.04 of the Indenture. If any Note is to be redeemed in part only, the notice of redemption that relates to that Note will state the portion of the principal amount thereof to be redeemed. A new Note in principal amount equal to the unredeemed portion of the original Note will be issued in the name of the Holder thereof upon cancellation of the original Note. Notes called for redemption become due on the date fixed for redemption. On and after the redemption date, interest [and Additional Interest]*, if any, shall cease to accrue on Notes or portions of them called for redemption.

  • Effect of Notice of Redemption Once notice of redemption is mailed in accordance with Section 3.03 hereof, Notes called for redemption become irrevocably due and payable on the redemption date at the redemption price. A notice of redemption may not be conditional.

  • Mechanics of Redemption (a) In order to redeem any Debentures (in whole or in part), the applicable Holder shall surrender the certificate(s) representing the Debentures to be redeemed, by either overnight courier or two-day courier, to the principal office of the Company, and shall give written notice in the form of EXHIBIT 1 hereto (the "REDEMPTION NOTICE") by facsimile (with the original of such notice forwarded with the foregoing courier) to the Company at such office to the effect that such Holder elects to have redeemed the principal amount of Debentures (plus accrued but unpaid interest thereon) specified therein; provided, however, that the Company shall not be obligated to pay the applicable redemption price unless either the certificate(s) evidencing the Debentures being redeemed is delivered to the Company as provided above, or if the Holder notifies the Company that such certificate(s) has been lost, stolen or destroyed and follows such procedures as are set forth in Paragraph 17. If less than all the principal amount represented by such certificate or certificates are to be redeemed, the Company shall issue and deliver to or on the order of the holder thereof, at the expense of the Company, a new certificate or certificates representing the unredeemed amount, to the same extent as if the certificate theretofore representing such unredeemed principal amount had not been surrendered on redemption. (b) The Company shall use its best efforts to pay the applicable redemption price within three (3) business days after receipt by the Company of the Redemption Notice and such certificate(s) evidencing the principal amount of Debentures being redeemed, or after receipt of such agreement and indemnification set forth in Paragraph 17, to such Holder, together with a certificate, certified by an appropriate officer of the Company, setting forth the calculation of the redemption price (the "REDEMPTION CERTIFICATE") and, if appropriate, a certificate evidencing the principal amount of the Debentures covered by the submitted certificate(s) not submitted for redemption; provided that in the case where more than one Holder submits Debenture certificates for redemption simultaneously and the Company is unable to redeem all of the Debentures submitted for such redemption, the Company shall redeem an amount from each Holder equal to each Holder's pro rata principal amount (based on principal amount of Debentures held by each Holder relative to outstanding) of all Debentures being redeemed. (c) If the Company shall fail to redeem all of the Debentures submitted for redemption (other than pursuant to a dispute as to the calculation of the applicable redemption price), in addition to any remedy each Holder may have under this Debenture, the Subscription Agreement and the Registration Rights Agreement, the applicable redemption price payable in respect of such unredeemed principal amount of Debentures shall bear interest at the rate of 2.0% per month (pro rated for partial periods) until such redemption price is paid in full. Until the Company pays such unpaid redemption price in full to a Holder, such Holder shall have the option, in lieu of redemption, to require the Company to promptly return to such Holder the aggregate principal amount of Debentures submitted for redemption by such Holder and for which the applicable redemption price has not been paid, by sending written notice thereof to the Company via facsimile (a "REVOCATION NOTICE"). Upon the Company's receipt of such Revocation Notice and prior to payment in full of the applicable redemption price to such Holder, (i) the Redemption