Common use of Redemption of Warrants Clause in Contracts

Redemption of Warrants. The Company may call the Warrants for redemption, in whole and not in part, at a price of $.01 per Warrant, upon not less than 30 days’ prior written notice of redemption to each Warrant holder, at any time after such Warrants have become exercisable pursuant to Section 6(a), if, and only if, (i) the Closing Price has equaled or exceeded $11.50 per share for any 20 trading days within a 30-trading-day period ending on the third Business Day prior to the notice of redemption to Warrant holders and (ii) at all times between the date of such notice of redemption and the redemption date a registration statement is in effect covering the Warrant Shares issuable upon exercise of the Warrants and a current prospectus relating to those Warrant Shares is available. Notwithstanding the foregoing, no Founder’s Warrants shall be redeemable at the option of the Company so long as they are held by GSC Secondary Interest Fund, LLC or a Permitted Transferee; provided that the fact that one or more Founder’s Warrants are non-redeemable because they are held by GSC Secondary Interest Fund, LLC or a Permitted Transferee shall not affect the Company’s right to redeem the Public Warrants and all Founder’s Warrants that are not held by GSC Secondary Interest Fund, LLC or a Permitted Transferee pursuant to the preceding paragraph.

Redemption of Warrants. The Company may call the Warrants for redemption, in whole and not in part, at a price of $.01 per Warrant, upon not less than 30 days’ ' prior written notice of redemption to each Warrant holder, at any time after such Warrants have become exercisable pursuant to Section 6(a), if, and only if, (i) the Closing Price has equaled or exceeded $11.50 14.25 per share for any 20 trading days within a 30-trading-day period ending on the third Business Day prior to the notice of redemption to Warrant holders and (ii) at all times between the date of such notice of redemption and the redemption date a registration statement is in effect covering the Warrant Shares issuable upon exercise of the Warrants and a current prospectus relating to those Warrant Shares is available. Notwithstanding the foregoing, no Initial Founder’s 's Warrants or Additional Founder's Warrants shall be redeemable at the option of the Company so long as they are held by GSC Secondary Interest Fundthe Founding Stockholder or its Permitted Transferees, LLC or a Permitted Transfereeincluding Steel Partners II, L.P.; provided that the fact that one or more Founder’s Private Warrants are non-redeemable because they are held by GSC Secondary Interest Fund, LLC or a Permitted Transferee of the reason described above shall not affect the Company’s 's right to redeem the Public Warrants, the Co-Investment Warrants and all Initial Founder’s 's Warrants and Additional Founder's Warrants that are not held by GSC Secondary Interest Fund, SP Acq LLC or a its Permitted Transferee pursuant to the preceding paragraphTransferees.

Redemption of Warrants. The Company may call the Warrants for redemption, in whole and not in part, at a price of $.01 per Warrant, upon not less than 30 days’ prior written notice of redemption to each Warrant holder, at any time after such Warrants have become exercisable pursuant to Section 6(a), if, and only if, (i) the Closing Price has equaled or exceeded $11.50 14.25 per share for any 20 trading days within a 30-trading-day period ending on the third Business Day prior to the notice of redemption to Warrant holders and (ii) at all times between the date of such notice of redemption and the redemption date a registration statement is in effect covering the Warrant Shares issuable upon exercise of the Warrants and a current prospectus relating to those Warrant Shares is available. Notwithstanding the foregoing, no Founder’s Sponsors’ Warrants shall be redeemable at the option of the Company so long as they are held by GSC Secondary Interest Fund, LLC the purchasers set forth in Schedule I hereto (the “Sponsors”) or a Permitted Transferee; provided that the fact that one or more Founder’s Sponsors’ Warrants are non-redeemable because they are held by GSC Secondary Interest Fund, LLC a Sponsor or a Permitted Transferee shall not affect the Company’s right to redeem the Public Warrants and all Founder’s Sponsors’ Warrants that are not held by GSC Secondary Interest Fund, LLC a Sponsor or a Permitted Transferee pursuant to the preceding paragraph.

Redemption of Warrants. The Company may call the Warrants for redemption, in whole and not in part, at a price of $.01 per Warrant, upon not less than 30 days’ prior written notice of redemption to each Warrant holder, at any time after such Warrants have become exercisable pursuant to Section 6(a), if, and only if, (i) the Closing Last Reported Sale Price has equaled or exceeded $11.50 14.25 per share for any 20 trading days within a 30-trading-trading day period ending on the third Business Day prior to the notice of redemption to Warrant holders and (ii) at all times between the date of such notice of redemption and the redemption date a registration statement is in effect covering the Warrant Shares issuable upon exercise of the Warrants and a current prospectus relating to those Warrant Shares is available. Upon a call for redemption of Warrants by the Company, the Company shall have the right to require all holders of Warrants subject to redemption who exercise such Warrants after the Company’s call for redemption to do so on a cashless basis in accordance with the procedures set forth in Section 6(d). Notwithstanding the foregoing, no Founder’s Private Warrants shall be redeemable at the option of the Company so long as they are held by GSC Secondary Interest Fund, LLC the Founding Stockholder or a its Permitted TransfereeTransferees; provided that the fact that one or more Founder’s Private Warrants are non-redeemable because they are held by GSC Secondary Interest Fund, LLC or a Permitted Transferee of the reason described above shall not affect the Company’s right to redeem the Public Warrants and all Founder’s Private Warrants that are not held by GSC Secondary Interest Fund, LLC the Founding Stockholder or a its Permitted Transferee pursuant to the preceding paragraphTransferees.

Redemption of Warrants. The Company may call the Warrants for redemption, in whole and not in part, at a price of $.01 per Warrant, upon not less than 30 days’ ' prior written notice of redemption to each Warrant holder, at any time after such Warrants have become exercisable pursuant to Section 6(a), if, and only if, (i) the Closing Price has equaled or exceeded $11.50 14.50 per share for any 20 trading days within a 30-trading-day period ending on the third Business Day prior to the notice of redemption to Warrant holders and (ii) at all times between the date of such notice of redemption and the redemption date a registration statement is in effect covering the Warrant Shares issuable upon exercise of the Warrants and a current prospectus relating to those Warrant Shares is available. Upon a call for redemption of Warrants by the Company, the Company shall have the right to require all holders of Warrants subject to redemption who exercise such Warrants after the Company's call for redemption to do so on a cashless basis in accordance with the procedures set forth in Section 6(d). Notwithstanding the foregoing, no Founder’s Sponsors' Warrants shall be redeemable at the option of the Company so long as they are held by GSC Secondary Interest Fund, LLC the purchasers set forth in Schedule I hereto (the "Sponsors") or a Permitted Transferee; provided that the fact that one or more Founder’s Sponsors' Warrants are non-redeemable because they are held by GSC Secondary Interest Fund, LLC a Sponsor or a Permitted Transferee shall not affect the Company’s 's right to redeem the Public Warrants and all Founder’s Sponsors' Warrants that are not held by GSC Secondary Interest Fund, LLC a Sponsor or a Permitted Transferee pursuant to the preceding paragraph.

Redemption of Warrants. The Company may call the Warrants for redemption, in whole and not in part, at a price of $.01 per Warrant, upon not less than 30 days’ prior written notice of redemption to each Warrant holder, at any time after such Warrants have become exercisable pursuant to Section 6(a), if, and only if, (i) the Closing Price has equaled or exceeded $11.50 14.25 per share for any 20 trading days within a 30-trading-day period ending on the third Business Day prior to the notice of redemption to Warrant holders and (ii) at all times between the date of such notice of redemption and the redemption date a registration statement is in effect covering the Warrant Shares issuable upon exercise of the Warrants and a current prospectus relating to those Warrant Shares is available. Upon a call for redemption of Warrants by the Company, the Company shall have the right to require all holders of Warrants subject to redemption who exercise such Warrants after the Company’s call for redemption to do so on a cashless basis in accordance with the procedures set forth in Section 6(d). Notwithstanding the foregoing, no Founder’s Sponsors’ Warrants shall be redeemable at the option of the Company so long as they are held by GSC Secondary Interest Fund, LLC the purchasers set forth in Schedule I hereto (the “Sponsors”) or a Permitted Transferee; provided that the fact that one or more Founder’s Sponsors’ Warrants are non-redeemable because they are held by GSC Secondary Interest Fund, LLC a Sponsor or a Permitted Transferee shall not affect the Company’s right to redeem the Public Warrants and all Founder’s Sponsors’ Warrants that are not held by GSC Secondary Interest Fund, LLC a Sponsor or a Permitted Transferee pursuant to the preceding paragraph.

Redemption of Warrants. The Company may call the Warrants for redemption, in whole and not in part, at a price of $.01 per Warrant, upon not less than 30 days’ ' prior written notice of redemption to each Warrant holder, at any time after such Warrants have become exercisable pursuant to Section 6(a), if, and only if, (i) the Closing Price has equaled or exceeded $11.50 14.25 per share for any 20 trading days within a 30-trading-day period ending on the third Business Day prior to the notice of redemption to Warrant holders and (ii) at all times between the date of such notice of redemption and the redemption date a registration statement is in effect covering the Warrant Shares issuable upon exercise of the Warrants and a current prospectus relating to those Warrant Shares is available. Notwithstanding the foregoing, no Founder’s Sponsors' Warrants shall be redeemable at the option of the Company so long as they are held by GSC Secondary Interest Fund, LLC the purchasers set forth in Schedule I hereto (the "Sponsors") or a Permitted Transferee; provided that the fact that one or more Founder’s Sponsors' Warrants are non-redeemable because they are held by GSC Secondary Interest Fund, LLC a Sponsor or a Permitted Transferee shall not affect the Company’s 's right to redeem the Public Warrants and all Founder’s Sponsors' Warrants that are not held by GSC Secondary Interest Fund, LLC a Sponsor or a Permitted Transferee pursuant to the preceding paragraph.

Redemption of Warrants. The Company may call the Warrants for redemption, in whole and not in part, at a price of $.01 per Warrant, upon not less than 30 days’ prior written notice of redemption to each Warrant holder, at any time after such Warrants have become exercisable pursuant to Section 6(a), if, and only if, (ia) the Closing Price (as defined in Section 11(h)) has equaled equalled or exceeded $11.50 14.25 per share for any 20 trading days within a 30-trading-day period ending on the third Business Day (as defined in Section 11) prior to the notice of redemption to Warrant holders and (iib) at all times between the date of such notice of redemption and the redemption date a registration statement is in effect covering the Warrant Shares issuable upon exercise of the Warrants and a current prospectus relating to those Warrant Shares is available. Notwithstanding the foregoing, no Founder’s Private Warrants shall be redeemable at the option of the Company so long as they are held by GSC Secondary Interest Fundthe Sponsor or its Permitted Transferees, LLC or a Permitted Transferee; provided that the fact that one or more Founder’s Private Warrants are non-non redeemable because they are held by GSC Secondary Interest Fund, LLC or a Permitted Transferee of the reason described above shall not affect the Company’s right to redeem the Public Warrants and all Founder’s the Private Warrants that are not held by GSC Secondary Interest Fund, LLC the Sponsor or a its Permitted Transferee pursuant to the preceding paragraphTransferees.

Redemption of Warrants. The Company may call the Warrants for redemption, in whole and not in part, at a price of $.01 per Warrant, upon not less than 30 days’ prior written notice of redemption to each Warrant holder, at any time after such Warrants have become exercisable pursuant to Section 6(a), if, and only if, (i) the Closing Price has equaled or exceeded $11.50 per share for any 20 trading days within a 30-trading-day period ending on the third Business Day prior to the notice of redemption to Warrant holders and (ii) at all times between the date of such notice of redemption and the redemption date a registration statement is in effect covering the Warrant Shares issuable upon exercise of the Warrants and a current prospectus relating to those Warrant Shares is available. Notwithstanding the foregoing, no Founder’s Sponsors’ Warrants shall be redeemable at the option of the Company so long as they are held by GSC Secondary Interest Fund, LLC the purchasers set forth in Schedule I hereto (the “Sponsors”) or a Permitted Transferee; provided that the fact that one or more Founder’s Sponsors’ Warrants are non-redeemable because they are held by GSC Secondary Interest Fund, LLC a Sponsor or a Permitted Transferee shall not affect the Company’s right to redeem the Public Warrants and all Founder’s Sponsors’ Warrants that are not held by GSC Secondary Interest Fund, LLC a Sponsor or a Permitted Transferee pursuant to the preceding paragraph.

Redemption of Warrants. The Company may call the Warrants for redemption, in whole and not in part, at a price of $.01 per Warrant, upon not less than 30 days’ ' prior written notice of redemption to each Warrant holder, at any time after such Warrants have become exercisable pursuant to Section 6(a), if, and only if, (ia) the Closing Price has equaled or exceeded $11.50 14.25 per share for any 20 trading days within a 30-trading-day period ending on the third Business Day (as defined in Section 11) prior to the notice of redemption to Warrant holders and (iib) at all times between the date of such notice of redemption and the redemption date a registration statement is in effect covering the Warrant Shares issuable upon exercise of the Warrants and a current prospectus relating to those Warrant Shares is available. Notwithstanding the foregoing, no Founder’s Insider Warrants shall be redeemable at the option of the Company so long as they are held by GSC Secondary Interest Fundthe Sponsor or its Permitted Transferees, LLC or a Permitted Transferee; provided that the fact that one or more Founder’s Insider Warrants are non-non redeemable because they are held by GSC Secondary Interest Fund, LLC or a Permitted Transferee of the reason described above shall not affect the Company’s 's right to redeem the Public Warrants and all Founder’s the Insider Warrants that are not held by GSC Secondary Interest Fund, LLC the Sponsor or a its Permitted Transferee pursuant to the preceding paragraphTransferees.

Redemption of Warrants. The Company (a) Beginning __________, 201_, [90 days from the date of the Prospectus] outstanding Warrants may call be redeemed at the Warrants for redemptionoption of the Company, in whole and not or in partpart on a pro-rata basis, at a price of $.01 per Warrant, upon by giving not less than 30 days’ prior written notice of redemption to each Warrant holderas provided in Section 7(c) below, which notice may not be given before, but may be given at any time after such Warrants have become exercisable pursuant to Section 6(a), if, and only if, (i) the Closing Price date on which the closing price of the Company’s common stock on the principal exchange or trading facility on which it is then traded has equaled or exceeded $11.50 ___ (170% of the public offering price of the Units) for five consecutive trading days. (b) The price at which Warrants may be redeemed (the “Redemption Price”) is $0.15 per share for any 20 trading days within a 30-trading-day period ending on the third Business Day prior to the notice of redemption to Warrant holders Warrant. On and (ii) at all times between after the date of such notice of redemption and upon which the redemption date a registration statement is in effect covering Warrants are redeemed by the Company (the “Redemption Date”) the Warrant Shares issuable upon exercise Holders of the Warrants and a current prospectus relating to those Warrant Shares is available. Notwithstanding the foregoing, no Founder’s redeemed Warrants shall be redeemable entitled to payment of the Redemption Price upon surrender of the Warrant by the participating broker or DTCC of such redeemed Warrants to the Warrant Agent (on behalf of the Company) at the option office of the Warrant Agent. If the Company so long as they are held by GSC Secondary Interest Fund, LLC or a Permitted Transferee; provided that the fact that one or more Founder’s Warrants are non-redeemable because they are held by GSC Secondary Interest Fund, LLC or a Permitted Transferee shall not affect the Company’s right intends to redeem the Public Warrants and all Founder’s Book Entry Warrants that are not held by GSC Secondary Interest Fundlisted on the Warrant Agent’s records, LLC or a Permitted Transferee pursuant the Company shall notify such Warrant Holder of such intent to the preceding paragraphRedeem their Warrant and send appropriate documentation effecting such action needed directly to Warrant Agent as Warrant Agent determines necessary.

Redemption of Warrants. The Company may call the Warrants for redemption, in whole and not in part, at a price of $.01 per Warrant, upon not less than 30 days’ prior written notice of redemption to each Warrant holder, at any time after such Warrants have become exercisable pursuant to Section 6(a), if, and only if, (i) the Closing Price has equaled or exceeded $11.50 14.25 per share for any 20 trading days within a 30-trading-day period ending on the third Business Day prior to the notice of redemption to Warrant holders and (ii) at all times between the date of such notice of redemption and the redemption date a registration statement is in effect covering the Warrant Shares issuable upon exercise of the Warrants and a current prospectus relating to those Warrant Shares is available. Notwithstanding the foregoing, no Initial Founder’s Warrants or Additional Founder’s Warrants shall be redeemable at the option of the Company so long as they are held by GSC Secondary Interest Fundthe Founding Stockholder or its Permitted Transferees, LLC or a Permitted Transfereeincluding Steel Partners II, L.P.; provided that the fact that one or more Founder’s Private Warrants are non-redeemable because they are held by GSC Secondary Interest Fund, LLC or a Permitted Transferee of the reason described above shall not affect the Company’s right to redeem the Public Warrants, the Co-Investment Warrants and all Initial Founder’s Warrants and Additional Founder’s Warrants that are not held by GSC Secondary Interest Fund, SP Acq LLC or a its Permitted Transferee pursuant to the preceding paragraphTransferees.

Redemption of Warrants. The Company may call the Warrants for redemption, in whole and not in part, at a price of $.01 per Warrant, upon not less than 30 days’ prior written notice of redemption to each Warrant holder, at any time after such Warrants have become exercisable pursuant to Section 6(a), if, and only if, (i) the Closing Price has equaled or exceeded $11.50 per share for any 20 trading days within a 30-trading-day period ending on the third Business Day prior to the notice of redemption to Warrant holders and (ii) at all times between the date of such notice of redemption and the redemption date a registration statement is in effect covering the Warrant Shares issuable upon exercise of the Warrants and a current prospectus relating to those Warrant Shares is available. Notwithstanding the foregoing, no Founder’s Founders’ Warrants or Performance Warrants shall be redeemable at the option of the Company so long as they are held by GSC Secondary Interest Fund, NTR Partners LLC or a Permitted Transferee; provided that the fact that one or more Founder’s Founders’ Warrants or Performance Warrants are non-redeemable because they are held by GSC Secondary Interest Fund, NTR Partners LLC or a Permitted Transferee shall not affect the Company’s right to redeem the Public Warrants, the Private Placement Warrants and all Founder’s Founders’ Warrants and Performance Warrants that are not held by GSC Secondary Interest Fund, NTR Partners LLC or a Permitted Transferee pursuant to the preceding paragraph.