Common use of Redemption Closing Clause in Contracts

Redemption Closing. The closing of the Corporation’s redemption of the Series B1/B2/B3/B4 Preferred Stock pursuant to this Section 7 shall take place at 11:00 a.m. Eastern Time on the date set forth in the applicable Redemption Notice, provided that such date shall not be earlier than the fourteenth (14th) calendar day following the date of such Redemption Notice (the “Redemption Date”), at the Corporation’s principal executive office or other mutually agreed upon location where the closing will occur. At the closing, the Corporation shall pay to each holder of Series B1/B2/B3/B4 Preferred Stock from whom shares of Series B1/B2/B3/B4 Preferred Stock are being redeemed an amount equal to the aggregate applicable Redemption Price for all such shares against receipt from such holder of the certificate or certificates, if any, duly endorsed or assigned to the Corporation in blank, representing the shares of Series B1/B2/B3/B4 Preferred Stock being redeemed. All such payments shall be made by wire transfer of immediately available funds or, if any such holder shall not have specified wire transfer instructions to the Corporation prior to the closing, by certified or official bank check payable to the order of the Holder. In the case of any certificate evidencing shares of Series B1/B2/B3/B4 Preferred Stock that is redeemed in part only, upon such redemption the Corporation shall also execute and deliver a new certificate (or a notice of such issuance if uncertificated shares are issued) evidencing the number of shares of Series B1/B2/B3/B4 Preferred Stock that are not redeemed.

Redemption Closing. The closing of the Corporation’s redemption of the Series B1/B2/B3/B4 1/2/3 Preferred Stock pursuant to this Section 7 shall take place at 11:00 a.m. Eastern Standard Time on the date set forth in the applicable Redemption Notice, provided that such date shall not be earlier than the fourteenth (14th) calendar day following the date of such Redemption Notice (the “Redemption Date”), at the Corporation’s principal executive office or other mutually agreed upon location where the closing will occur. At the closing, the Corporation shall pay to each holder of Series B1/B2/B3/B4 1/2/3 Preferred Stock from whom shares of Series B1/B2/B3/B4 1/2/3 Preferred Stock are being redeemed an amount equal to the aggregate applicable Redemption Price for all such shares against receipt from such holder of the certificate or certificates, if any, duly endorsed or assigned to the Corporation in blank, representing the shares of Series B1/B2/B3/B4 1/2/3 Preferred Stock being redeemed. All such payments shall be made by wire transfer of immediately available funds or, if any such holder shall not have specified wire transfer instructions to the Corporation prior to the closing, by certified or official bank check payable to the order of the Holder. In the case of any certificate evidencing shares of Series B1/B2/B3/B4 1/2/3 Preferred Stock that is redeemed in part only, upon such redemption the Corporation shall also execute and deliver a new certificate (or a notice of such issuance if uncertificated shares are issued) evidencing the number of shares of Series B1/B2/B3/B4 1/2/3 Preferred Stock that are not redeemed.