Redemption Mechanics Clause Samples
The Redemption Mechanics clause defines the procedures and conditions under which a party can redeem or repurchase securities, tokens, or other financial instruments. Typically, it outlines the timing, pricing, and notice requirements for redemption, and may specify any limitations or penalties associated with early redemption. This clause ensures both parties understand the process and terms for redemption, thereby providing clarity and reducing the risk of disputes regarding how and when redemptions can occur.
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Redemption Mechanics. Unless a timely Retraction Notice has been delivered to the Company with a copy to CPE prior to the Redemption Date as set forth in Section 9.1(c), on the Redemption Date the following shall occur:
(1) the Company shall (A) revise Exhibit A to reflect (i) the number of Common Membership Units held by the Redeeming Member following the Redemption Date and (ii) if CPE exercises the CPE Assumption Right, the number of Common Membership Units held by CPE following the Redemption Date, and (B) deliver to CPE all transfer tax stamps or funds therefor, if required pursuant to Section 9.1(e);
(2) (i) if CPE has not exercised the CPE Assumption Right, the Company shall deliver to the Redeeming Member a Cash Settlement for the Redeemed Units or (ii) if CPE has exercised the CPE Assumption Right, CPE shall deliver to the Redeeming Member (or such other party that the Redeeming Member may designate) one of the following:
(A) in the event that CPE determines to pay the Redeeming Member the Share Settlement, CPE shall (x) issue to the Redeeming Member in such name or names as the Redeeming Member may direct the Share Settlement and (y) deliver or cause to be delivered at the office of CPE's transfer agent, a certificate or certificates representing the number of full shares of CPE Common Stock issuable upon redemption in a Share Settlement, if the CPE Common Stock is certificated, issued in the name of the Redeeming Member or in such other name or names as the Redeeming Member may direct;
(B) in the event that CPE determines to pay the Redeeming Member the Cash Settlement, CPE shall pay to the Redeeming Member or such other Person as the Redeeming Member may direct the Cash Settlement; or
(C) in the event that CPE determines to pay the Share/Cash Settlement, CPE shall (x) issue to the Redeeming Member in such name or names as the Redeeming Member may direct the Partial Share Settlement, (y) deliver or cause to be delivered at the office of CPE's transfer agent, a certificate or certificates representing the number of full shares of CPE Common Stock issuable upon redemption in a Partial Share Settlement, if the CPE Common Stock is certificated, issued in the name of the Redeeming Member or in such other name or names as the Redeeming Member may direct, and (z) pay to the Redeeming Member or such other Persons as the Redeeming Member may direct the Partial Cash Settlement. If CPE exercises the CPE Assumption Right, redemption pursuant to this Section 9.1 shall be deemed t...
Redemption Mechanics. At least 20 but not more than 30 days prior to the Redemption Date, written notice (the "Redemption Notice") shall be given by the Corporation by mail, postage prepaid, or by telex to non-U.S. residents, to each holder of record (at the close of business on the business day next preceding the day on which the Redemption Notice is given) of shares of Series A Convertible Preferred Stock notifying such holder of the redemption and specifying the Redemption Price, the Redemption Date and the place where said Redemption Price shall be payable. The Redemption Notice shall be addressed to each holder at his address as shown by the records of the Corporation. From and after the close of business on the Redemption date, unless there shall have been a default in the payment of the Redemption Price, all rights of holders of shares of Series A Convertible Preferred Stock (except the right to receive the Redemption Price) shall cease with respect to such shares, and such shares shall not thereafter be transferred on the books of the Corporation or be deemed to be outstanding for any purpose whatsoever. If the funds of the Corporation legally available for redemption of shares of Series A Convertible Preferred Stock on the Redemption Date are insufficient to redeem the total number of outstanding shares of Series A Convertible Preferred Stock, the holders of shares of Series A Convertible Preferred Stock shall share ratably in any funds legally available for redemption of such shares according to the respective amounts which would be payable with respect to the full number of shares owned by them if all such outstanding shares were redeemed in full. The shares of Series A Convertible Preferred Stock not redeemed shall remain outstanding and entitled to all rights and preferences provided herein. At any time thereafter when additional funds of the Corporation are legally available for the redemption of such shares of Series A Convertible Preferred Stock, such funds will be used, at the end of the next succeeding fiscal quarter, to redeem the balance of such shares, or such portion thereof for which funds are then legally available, on the basis set forth above.
Redemption Mechanics. (i) Subject to the satisfaction of any Redemption Contingency that is specified in the relevant Redemption Notice, the Redemption shall be completed on the Redemption Date. A Redemption Notice shall not be revocable or modifiable unless a valid Cash Election has not been made and the Managing Member gives written consent.
(ii) Unless a member of the PubCo Holdings Group has elected its Call Right pursuant to Section 4.6(f), on the Redemption Date (to be effective immediately prior to the close of business on the Redemption Date)
(A) the Redeeming Member shall transfer and surrender the Units to be redeemed (and a corresponding number of Class B Shares) to the Company, in each case free and clear of all liens and encumbrances, (B) unless, in the event of a Cash Election by the Company, the Company in its discretion elects to fund any part of the consideration the Redeeming Member is entitled to receive under Section 4.6(a)(i) without a contribution from a member of the PubCo Holdings Group, Managing Member Blocker (or such other member(s) of the PubCo Holdings Group designated by Managing Member Blocker) shall contribute to the Company the consideration the Redeeming Member is entitled to receive under Section 4.6(a)(i) and, as described in Section 4.1(e), the Company shall issue to Managing Member Blocker (or such other member(s) of the PubCo Holdings Group), as applicable, a number of Units or other Equity Securities of the Company as consideration for such contribution, (C) the Company shall (x) cancel the redeemed Units, (y) transfer to the Redeeming Member the consideration the Redeeming Member is entitled to receive under Section 4.6(a)(i), and (z) if the Units are certificated, issue to the Redeeming Member a certificate for a number of Units equal to the difference (if any) between the number of Units evidenced by the certificate surrendered by the Redeeming Member pursuant to Section 4.6(b)(ii)(A) and the number of redeemed Units, and (D) PubCo shall cancel the surrendered Class B Shares. Notwithstanding any other provisions of this Agreement to the contrary, in the event that the Company makes a valid Cash Election, the PubCo Holdings Group shall only be obligated to contribute to the Company an amount in cash equal to the net proceeds (after deduction of the Discount) from the sale by PubCo of a number of Class A Shares equal to the number of Units and Class B Shares to be redeemed with such cash or from the sale of other PubCo Equity Securities ...
Redemption Mechanics. (a) No action is required on the part of any Debenture Holder(s) at the time of redemption of the Debentures. On the relevant Redemption Date, the relevant amounts shall be paid by the Company, in accordance with paragraph 5 (Payments) of this Schedule, to those Debenture Holders whose names appear on the Register of Beneficial Owners as on the Record Date and, for these purposes, a statement issued by the Depository shall be conclusive evidence in respect thereof.
(b) All Debentures that are redeemed in full on any Redemption Date will forthwith be cancelled and extinguished through appropriate corporate action. Any partial redemption of a Debenture on any Redemption Date will to that extent be a good discharge to the Debenture Holder in respect of the amounts payable by the Company.
Redemption Mechanics. The minimum redemption required is RM50 Cash Credit and Cardholders may redeem in multiples of RM50.
Redemption Mechanics. Prior to the undertaking by Genesis MLP of any contractual obligations to any underwriter or other purchaser to complete any sale of Common Units by Genesis MLP pursuant to this Agreement, the Participating Holders shall transfer to a custodian, pursuant to custodial arrangements satisfactory to Genesis MLP and the Participating Holders, certificates representing Common OLP Units equal to the Aggregate Redemption Number. After the completion of a sale of Common Units by Genesis MLP pursuant to this Agreement, Genesis MLP shall transfer to Genesis OLP the proceeds of the sale of a number of Common Units equal to the Aggregate Redemption Number, net of underwriting discounts and commissions or placement fees, if any, with respect to such sale. Genesis OLP shall thereafter send a notice (a "Redemption Notice") to each Participating Holder that has not withdrawn in accordance with clause (ii) of Section 2.1(a) of this Agreement specifying (i) that the sale is complete and (ii) that Genesis OLP will redeem the Individual Redemption Number of Common OLP Units of such Participating Holder. Within ten (10) days after the date of the Redemption Notice, Genesis OLP shall submit payment of the Redemption Price to the Participating Holders.
Redemption Mechanics. Upon receipt of payment by each holder of Special Shares electing to redeem pursuant to paragraphs 5(a) or 5(b) above of the redemption price applicable to such Special Shares (the Class A Redemption Price, the Class B Redemption Price or the Class C Redemption Price, as the case may be), all rights of holders of such redeemed shares shall cease with respect to such shares, and such shares shall not thereafter be transferred on the books of the Corporation or be deemed to be outstanding for any purpose whatsoever. If the funds of the Corporation legally available for redemption of Special Shares on any Redemption Date are insufficient to redeem the total number of outstanding Special Shares as to which redemption is requested, the holders of Special Shares requesting redemption shall share rateably in any funds legally available for redemption of such shares according to the respective amounts which would be payable with respect to the full number of shares owned by such holders as to which redemption is requested if all such outstanding shares were redeemed in full. The Special Shares not redeemed shall remain outstanding and entitled to all rights and preferences provided herein. At any time thereafter when additional funds of the Corporation are legally available for the redemption of such Special Shares, such funds will be used, at the end of the next succeeding fiscal quarter, to redeem the balance of such shares as to which redemption had been requested, or such portion thereof for which funds are then legally available, on the basis set forth above, regardless of whether any last date for giving notice pursuant to paragraphs 5(a) or 5(b), as the case may be, has passed.
Redemption Mechanics. (i) Subject to the satisfaction of any contingency described in Section 3.6(a)(ii)(C) that is specified in the relevant Redemption Notice, the Redemption shall be completed on the Redemption Date; provided, that if a valid Cash Election has not been made, the Redeeming Member may, at any time prior to the Redemption Date, revoke its Redemption Notice by giving written notice (the “Retraction Notice”) to the Company (with a copy to PubCo); provided, however, that in no event may the Redeeming Member deliver more than one Retraction Notice in any calendar quarter. The timely delivery of a Retraction Notice shall terminate all of the Redeeming Member’s, the Company’s and PubCo’s (and, as applicable, any other member of the PubCo Holdings Group’s) rights and obligations arising from the retracted Redemption Notice.
(ii) Unless the Redeeming Member has timely delivered a Retraction Notice as provided in Section 3.6(b)(i) or PubCo (or such designated member(s) of the PubCo Holdings Group) has elected its Call Right pursuant to Section 3.6(f), on the Redemption Date (to be effective immediately prior to the close of business on the Redemption Date)
Redemption Mechanics. Closing of the redemption of the Class A Preferred Shares pursuant to this Article [1]A(iii) (the “Early Redemption Closing”) shall take place within sixty (60) days from the receipt of the Early Redemption Notice. At the Early Redemption Closing, subject to Applicable Laws, the Company shall redeem all of the Class A Preferred Shares outstanding at the time from the Class A Preferred Shareholder by paying the Early Redemption Price.
Redemption Mechanics. (i) With respect to redemptions pursuant to Section 17.08(a) or Section 17.08(b), the Company shall determine the redemption date (the “Series A Redemption Date”); provided, however, that such date must be no more than thirty 30 days following delivery of the Series A Redemption Notice. Upon the Series A Redemption Date, the Company shall promptly pay the Series A Holders the Series A Redemption Price.