Common use of Redemption at the Option of Holders Clause in Contracts

Redemption at the Option of Holders. (a) If a Fundamental Change occurs at any time the shares of Series A Preferred Stock are outstanding, then each Holder shall have the right (a “Holder Put Right”), at such Holder’s option, to require the Corporation to redeem for cash, out of funds legally available therefor, any or all of such Holder’s shares of Series A Preferred Stock on a date specified by the Corporation (the “Holder Put Date”) that can be no later than 60 days following the date of delivery by the Corporation of a notice of the Fundamental Change (the “Fundamental Change Notice”) at the Redemption Price.