Redemption Events. Except as prohibited by applicable law and the corporation's then existing agreements with its lenders and provided the corporation has generated net income for its most recent quarterly interim period, the corporation shall redeem all outstanding shares of Series M Preferred Stock on May 7, 2002. The corporation shall effect the redemption by paying in cash, out of any source of funds legally available therefor, an amount per share of Series M Preferred Stock equal to the Original Series M Issue Price (the "Redemption Price").
Appears in 2 contracts
Sources: Series C Preferred Stock Purchase Agreement (Genomic Solutions Inc), Series C Preferred Stock Purchase Agreement (Genomic Solutions Inc)