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

Redemption at the Option of the Corporation. At any time, and from time to time, after the Original Issue Date, the Corporation may, at its option, upon fifteen (15) days’ written notice, redeem shares of the Series A Preferred Stock, in whole or in part, for cash at a redemption price of $[·] per share (as may be adjusted for stock splits, recapitalizations, combinations, reclassifications and similar events which affect the shares of Series A Preferred Stock as provided in Section 7 below), plus, subject to the provisions set forth in the first sentence of Section 6(e)(iii) below, accrued and unpaid dividends thereon up to and including the date fixed for redemption, without interest, to the extent the Corporation has funds legally available therefor. If less than all of the outstanding shares of Series A Preferred Stock are to be redeemed, the shares of Series A Preferred Stock to be redeemed may be selected by any equitable method determined by the Board of Directors provided that such method does not result in the creation of fractional shares.