Common use of Optional Redemptions Clause in Contracts

Optional Redemptions. The Corporation may, at any time after 20 years after the first date of issuance of any shares of Series A Preferred Stock, redeem all or any portion of the Series A Preferred Stock then outstanding at a price per Series A Preferred Share equal to the Liquidation Value thereof (plus all accumulated and accrued and unpaid but not yet accumulate dividends thereon); provided, that all optional redemptions pursuant to this Section 3.3(b) are made pro rata among the holders of Series A Preferred Stock based upon the aggregate Liquidation Value (plus all accrued, accumulated and unpaid dividends thereon) of such Series A Preferred Stock held by each such holder.