Redemption of Class Clause Samples

The 'Redemption of Class' clause defines the process and conditions under which a specific class of shares or interests in a company can be bought back or redeemed by the company. Typically, this clause outlines the circumstances that trigger redemption, the price or formula for determining the redemption amount, and the notice requirements for shareholders. For example, it may allow the company to redeem shares after a certain period or upon the occurrence of specific events. The core function of this clause is to provide a clear mechanism for returning capital to shareholders of a particular class, thereby offering flexibility in capital structure and protecting the interests of both the company and its investors.
Redemption of Class. A Shares or payment may be suspended at times when the New York Stock Exchange is closed, when trading on said Exchange is closed, when trading on said Exchange is suspended, when trading on said Exchange is restricted, when an emergency exists as a result of which disposal by the Fund of securities owned by it is not reasonably practicable or it is not reasonably practicable for the Corporation fairly to determine the value of the net assets of the Fund, or during any other period when the Securities and Exchange Commission, by order, so permits.
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Redemption of Class. Z shares or payment may be suspended at times when the New York Stock Exchange is closed for other than customary weekends and holidays, when trading on said Exchange is restricted, when an emergency exists as a result of which disposal by the Fund of securities owned by it is not reasonably practicable or it is not reasonably practicable for the Fund fairly to determine the value of its net assets, or during any other period when the Securities and Exchange Commission, by order, so permits.
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Redemption of Class. A-1 NOTES 13 7.1 Part Redemption of Class A-1 Notes on Distribution Dates 13 7.2 Early Redemption 14
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Redemption of Class. III Shares of a Fund or payment therefor may be suspended for any period during which trading on the New York Stock Exchange is restricted as determined by the Securities and Exchange Commission or such Exchange is closed (other than customary weekend and holiday closings), for any period during which an emergency exists as defined by the Securities and Exchange Commission as a result of which disposal of securities or determination of the net asset value of such Fund is not reasonably practicable, and for such other periods as the Securities and Exchange Commission may by order permit for the protection of shareholders of the Fund.
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Redemption of Class. D Notes upon Consummation of the Contemplated Equity Financing. As set forth in the Class D Notes, if the Company consummates the Contemplated Equity Financing (as defined in the Second Exchange Agreement dated as of May 28, 2003 by and among the Company, Diomed, the Designated Note Purchaser (as defined therein) and the Note Purchasers listed therein) on or prior to July 31, 2003 such that pursuant to the Contemplated Equty Financing the Company has raised $6,000,000 or more in cash or other property valued at fair market value in good faith by the Board of Directors, or a combination of both, calculated on a gross basis prior to deduction for commissions, fees or any other expenses of raising such funds, then the Lenders shall accept as payment in full of the unpaid principal amount of and accrued interest under the Class D Notes the Company's issuance of shares of Common Stock or other securities issued by the Company in the Contemplated Equity Financing at the same price and other terms and subject to the same conditions as the Contemplated Equity Financing." 2. Section 4(g) of the Secured Loan Agreement is hereby amended and restated to read as follows:
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Redemption of Class. A NOTES SECTION 6.1. No Redemption Prior to Maturity . . . . . 25 SECTION 6.2.
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Redemption of Class. A" PREFERRED SHARES. On October 1, 1999, Origin will redeem all of the 11,670,380 Class "A" Preferred Shares issued pursuant to this Agreement. Origin will pay the redemption amount by delivery to Columbia of a promissory note in the principal amount of $11,670,380.
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Related to Redemption of Class

  • Redemption of Notes Section 10.01. Redemption...................................................................53 Section 10.02. Form of Redemption Notice....................................................54 Section 10.03. Notes Payable on Redemption Date.............................................54

  • Redemption of Bonds The Authority shall take, or cause to be taken, the actions required by the Indenture to discharge the lien created thereby through the redemption, or provision for payment or redemption, of all Bonds then Outstanding, or to effect the redemption, or provision for payment or redemption, of less than all the Bonds then Outstanding, upon receipt by the Authority and the Trustee from the Company of a notice designating the principal amount of the Bonds to be redeemed, or for the payment or redemption of which provision is to be made, and, in the case of redemption of Bonds, or provision therefor, specifying the date of redemption and the applicable redemption provision of the Indenture. Such redemption date shall not be less than 45 days from the date such notice is given (unless a shorter notice is satisfactory to the Trustee). Unless otherwise stated therein, such notice shall be revocable by the Company at any time prior to the time at which the Bonds to be redeemed, or for the payment or redemption of which provision is to be made, are first deemed to be paid in accordance with Article VIII of the Indenture. The Company shall furnish any moneys or Government Obligations (as defined in the Indenture) required by the Indenture to be deposited with the Trustee or otherwise paid by the Authority in connection with any of the foregoing purposes.

  • Redemption of Units Any redemption of Units by the Company permitted under Article III shall be conducted in accordance with this Section 3.13. (a) The Company shall, not later than 30 days before the date fixed for redemption, give notice of redemption to the Member at its last address designated on the records of the Company or the Transfer Agent, by registered or certified mail, postage prepaid, or overnight courier of national reputation. The notice shall be deemed to have been given when so mailed. The notice shall specify the Redeemable Units, the date fixed for redemption, the place of payment, that payment of the redemption price will be made upon the redemption of the Redeemable Units (or, if later in the case of Redeemable Units evidenced by Certificates, upon surrender of the Certificates evidencing such Redeemable Units) and that on and after the date fixed for redemption no further allocations or distributions to which the Member would otherwise be entitled in respect of the Redeemable Units will accrue or be made. (b) The aggregate redemption price for Redeemable Units shall be an amount equal to the Current Market Price (the date of determination of which shall be the date fixed for redemption) of Units of the class to be so redeemed multiplied by the number of Units of each such class included among the Redeemable Units, net of any costs or expenses incurred by the Company in connection with such redemption. Subject to the Delaware Act, the redemption price shall be paid, as determined by the Company in its sole discretion, (i) in cash, (ii) by delivery of a promissory note of the Company in the principal amount of the redemption price, bearing interest at the rate of 8% annually and payable in three equal annual installments of principal together with accrued interest, the first such installment commencing one year after the redemption date (or, if later in the case of Redeemable Units evidenced by Certificates, upon surrender of the Certificates evidencing such Redeemable Units) or (iii) a combination of cash and a promissory note having the terms described in clause (ii). (c) The Member or its duly authorized representative shall be entitled to receive the payment for Redeemable Units at the place of payment specified in the notice of redemption (i) in the case of uncertificated Redeemable Units, on the redemption date or (ii) in the case of Redeemable Units evidenced by Certificates, upon surrender, on the redemption date or thereafter, by or on behalf of the Member, of the Certificates evidencing the Redeemable Units, duly endorsed in blank or accompanied by an assignment duly executed in blank. (d) After the redemption date, Redeemable Units shall no longer constitute Outstanding Units.

  • Redemption of the Notes SECTION 3.01.

  • Redemption of Fund Shares On receipt of instructions to redeem shares in accordance with the terms of the Fund's prospectus, the Transfer Agent will record the redemption of shares of the Fund, prepare and present the necessary report to the Custodian and pay the proceeds of the redemption to the shareholder, an authorized agent or legal representative upon the receipt of the monies from the Custodian.