Common use of Redemption Procedure Clause in Contracts

Redemption Procedure. Subject to subsection (A) of this Section 4.4, within fifteen (15) days of the receipt by the Corporation of the Redemption Request, with respect to the first Redemption Date, and not less than thirty (30) days prior to the second and third Redemption Dates, the Corporation shall mail, first class postage prepaid, written notice (the “Notice of Redemption”) to each holder of record (at the close of business on the business day preceding the day on which notice is given) of Preferred Stock, at the address last shown on the records of the Corporation for such holder or given by the holder to the Corporation, for the purpose of notifying such holder of the redemption to be effected. The Notice of Redemption shall specify the applicable Redemption Date, the number of shares of each series of Preferred Stock held by the holder that the Corporation shall redeem on the Redemption Date specified in the Notice of Redemption, and the place at which payment shall be made, which shall be the principal offices of the Corporation or such other place as shall be mutually agreeable to the Corporation and holders of a majority of the shares of Preferred Stock then outstanding, on an as-converted basis. The Notice of Redemption shall call upon each holder of Preferred Stock to either (i) surrender to the Corporation, in the manner and at the place designated, such holder’s certificate or certificates representing the shares to be redeemed or (ii) convert such Preferred Stock into Common Stock prior to the applicable Redemption Date in accordance with the provisions of Section 4.3 above. Subject to Section 4.4 (C), on each Redemption Date, the Corporation shall pay the Redemption Price in cash or by check to the order of the person whose name appears on the certificate or certificates of the Preferred Stock that (i) shall not have been converted pursuant to Section 4.3 hereof and (ii) shall have been surrendered to the Corporation in the manner and at the place designated in the Notice of Redemption and thereupon each surrendered certificate shall be canceled.

Appears in 2 contracts

Sources: Warrant Agreement (Mavenir Systems Inc), Warrant Agreement (Mavenir Systems Inc)

Redemption Procedure. Subject to subsection (A) of this Section 4.4, within fifteen (15) days of Beginning with the receipt by the Corporation first year anniversary of the Redemption RequestDate, with respect the corporation shall be required to redeem annually no more than that number of shares of Series C Preferred Stock and Series D Preferred Stock equal to twenty-five (25) percent of the shares of Series C Preferred Stock and Series D Preferred Stock outstanding as of the Redemption Date. Annually thereafter, each holder of Series C Preferred Stock and Series D Preferred Stock shall surrender to the first corporation for redemption no more than that number of shares equal to twenty-five (25) percent of the shares held by such holder on the Redemption Date, and not less than thirty Date (30) with one-half being rounded upwards). At least 20 days prior to the second and third yearly anniversary of the Redemption Dates, the Corporation shall mail, first class postage prepaidDate, written notice (the “Notice of Redemption”"Redemption Notice") shall be mailed first class, postage prepaid, to each holder of record (at the close of business on the business day next preceding the day on which notice is given) of the Series C Preferred Stock and Series D Preferred Stock, at the address last shown on the records of the Corporation corporation for such holder or given by the holder to the Corporation, corporation for the purpose of notice or if no such address appears or is given, at the place where the principal executive office of the corporation is located, notifying such holder of the redemption to be effected. The Notice of Redemption shall specify , specifying the applicable amount to be redeemed by such holder, the Redemption Date, the number of shares of each series of Preferred Stock held by the holder that the Corporation shall redeem on the Redemption Date specified in the Notice of RedemptionPrice, and the place at which payment shall may be made, obtained and the date on which shall be the principal offices of the Corporation or such other place as shall be mutually agreeable holder's right to the Corporation and holders of a majority of the shares of convert Series C Preferred Stock then outstanding, on an as-converted basis. The Notice of Redemption shall call upon each holder of or Series D Preferred Stock into Common Stock, as to either (i) such shares, terminates and calling upon such holder to surrender to the Corporationcorporation, in the manner and at the place designated, such holder’s its certificate or certificates representing the shares to be redeemed or (ii) convert such Preferred Stock into Common Stock prior to the applicable Redemption Date redeemed. Except as provided in accordance with the provisions of Section 4.3 above. Subject to Section 4.4 (Cparagraph 5(d), on each or after the Redemption Date, each holder of Series C Preferred Stock or Series D Preferred Stock to be redeemed shall surrender to the Corporation shall pay corporation the certificate or certificates representing such shares, in the manner and at the place designated in the Redemption Notice, and thereupon, the aggregate Redemption Price of such shares shall be payable in cash or by check to the order of the person whose name appears on the such certificate or certificates of as the Preferred Stock that (i) shall not have been converted pursuant to Section 4.3 hereof owner thereof and (ii) shall have been surrendered to the Corporation in the manner and at the place designated in the Notice of Redemption and thereupon each surrendered certificate shall be canceled.

Appears in 2 contracts

Sources: Warrant Agreement (Neoforma Com Inc), Warrant Agreement (Neoforma Com Inc)

Redemption Procedure. Subject Within 15 days after an Officer becomes aware of any event or condition which could reasonably be expected to subsection give rise to a Mandatory Redemption Event (A) of this Section 4.4other than a Voluntary Acquisition Transaction), within fifteen (15) days five Business Days after a Voluntary Acquisition Transaction shall have been announced to the public or becomes a matter of public record and in the receipt by event the Corporation of the Redemption Requestelects a Corporation Option Redemption, with respect to the first Redemption Date, and not less than thirty (30) 30 days nor more than 60 days prior to the second and third Redemption DatesDate specified by the Corporation, the Corporation shall mail, send a written notice by first class postage prepaid, written notice (the “Notice of Redemption”) mail to each holder of record of the Series A Cumulative Convertible Preferred Shares at such holder’s registered address, stating: (i) in the case of a Corporation Option Redemption, the Redemption Date and, in the case of the occurrence or potential occurrence of a Mandatory Redemption Event, the events causing such Mandatory Redemption Event and the date upon which such Mandatory Redemption Event occurred or is expected to occur (the “Proposed Redemption Date”); (ii) the Redemption Price that will be payable with respect to the shares of the Series A Cumulative Convertible Preferred Shares as of the Redemption Date or the Proposed Redemption Date, and whether such Redemption Price will be paid, subject to the provisions of Section 6(f) in cash or, if applicable, in shares of Voting Common Stock or if a combination of cash and Voting Common Stock, the portions of the Redemption Price in respect of which the Corporation will pay in cash and shares of Voting Common Stock; (iii) the Conversion Price, the Conversion Rate and any adjustments thereto made after the Issue Date, in each case as of the date of such notice; (iv) if such Mandatory Redemption Event is proposed to be made in connection with, or in anticipation of, a Fundamental Change that occurs prior to January 16, 2023, the Transaction Consideration, the number of Additional Shares and the additional Transaction Consideration which such holder would be entitled to receive pursuant to the provisions of Section 8. (v) that shares of the Series A Cumulative Convertible Preferred Shares which are the subject of such redemption may be converted at the close of business any time before 5:00 p.m., New York City time on the business day Business Day immediately preceding the day on which notice is givenRedemption Date; (vi) of Preferred Stockif applicable, at the address last shown on the records that holders who want to convert shares of the Series A Cumulative Convertible Preferred Shares must satisfy the requirements set forth in Section 7 of this Certificate; (vii) that certificates evidencing the shares of the Series A Cumulative Convertible Preferred Shares to be redeemed must be surrendered to the Corporation for such holder or given to collect the Redemption Price; (viii) if fewer than all the outstanding shares of the Series A Cumulative Convertible Preferred Shares are to be redeemed by the holder to the Corporation, for the purpose of notifying such holder of the redemption to be effected. The Notice of Redemption shall specify the applicable Redemption Date, the number of shares to be redeemed of each series of the Series A Cumulative Convertible Preferred Stock held by the holder that Shares; (ix) that, unless the Corporation shall redeem on the defaults in making payment of such Redemption Date specified Price, dividends in the Notice of Redemption, and the place at which payment shall be made, which shall be the principal offices of the Corporation or such other place as shall be mutually agreeable to the Corporation and holders of a majority respect of the shares of the Series A Cumulative Convertible Preferred Stock then outstanding, Shares which are the subject of such redemption will cease to accumulate on an as-converted basis. The Notice of Redemption shall call upon each holder of Preferred Stock to either (i) surrender to and after the Corporation, in the manner and at the place designated, such holder’s certificate or certificates representing the shares to be redeemed or (ii) convert such Preferred Stock into Common Stock prior to the applicable Redemption Date in accordance with the provisions of Section 4.3 above. Subject to Section 4.4 (C), on each Redemption Date, ; (x) the private placement number of the Series A Cumulative Convertible Preferred Shares; and (xi) any other information the Corporation shall pay the Redemption Price in cash or by check wishes to the order of the person whose name appears on the certificate or certificates of the Preferred Stock that (i) shall not have been converted pursuant to Section 4.3 hereof and (ii) shall have been surrendered to the Corporation in the manner and at the place designated in the Notice of Redemption and thereupon each surrendered certificate shall be canceledpresent.

Appears in 2 contracts

Sources: Exchange Agreement (Jefferies Financial Group Inc.), Exchange Agreement (Jefferies Financial Group Inc.)

Redemption Procedure. Subject to subsection (A) of this Section 4.4, within fifteen (15) days of the receipt by the Corporation of the Redemption Request, with respect to the first Redemption Date, and not less than thirty (30) At least 30 days prior to the second and third -------------------- Redemption Dates, the Corporation shall mail, first class postage prepaidDate, written notice (the “Notice of Redemption”"Redemption Notice") shall be mailed, postage prepaid, to each holder of record (at the close of business on the business day next preceding the day on which notice is given) of the Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock or Series F Preferred Stock electing to have shares redeemed, at the address last shown on the records of the Corporation for such holder or given by the holder to the Corporation, Corporation for the purpose of notice or if no such address appears or is given, at the place where the principal executive office of the Corporation is located, notifying such holder of the redemption to be effected. The Notice of Redemption shall specify the applicable Redemption Date, specifying the number of shares of each series of Preferred Stock held by the holder that the Corporation shall redeem on to be redeemed, the Redemption Date specified in the Notice of RedemptionPrice, and the place at which payment shall may be madeobtained and the date on which such holder's right to convert Series C Preferred Stock, which shall be the principal offices of the Corporation or such other place as shall be mutually agreeable to the Corporation and holders of a majority of the shares of Series D Preferred Stock, Series E Preferred Stock then outstanding, on an as-converted basis. The Notice of Redemption shall call upon each holder of or Series F Preferred Stock into Common Stock as to either (i) such shares terminates and calling upon such holder to surrender to the Corporation, in the manner and at the place designated, such holder’s its certificate or certificates representing the shares to be redeemed redeemed. Except as provided in Section D.6., on or (ii) convert such after the Redemption Date, each holder of Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock into Common or Series F Preferred Stock prior to be redeemed shall surrender to the applicable Corporation the certificate or certificates representing such shares, in the manner and at the place designated in the Redemption Date in accordance with Notice, and thereupon, subject to the provisions of Section 4.3 above. Subject to Section 4.4 (C), on each Redemption DateD.4., the Corporation shall pay the aggregate Redemption Price in cash or by check of such shares shall be payable to the order of the person whose name appears on the such certificate or certificates of as the Preferred Stock that (i) shall not have been converted pursuant to Section 4.3 hereof owner thereof and (ii) shall have been surrendered to the Corporation in the manner and at the place designated in the Notice of Redemption and thereupon each surrendered certificate shall be canceled. In the event less than all the shares represented by any such certificate are redeemed, a new certificate shall be issued representing the unredeemed shares.

Appears in 2 contracts

Sources: Agreement and Plan of Reorganization (Xenogen Corp), Agreement and Plan of Reorganization (Xenogen Corp)

Redemption Procedure. Subject (i) Notice of any redemption pursuant to subsection this Section 9 (Aa "Call Notice") of this Section 4.4, within fifteen (15) days of the receipt Series E Preferred Interests will be given by the Corporation of the Redemption Request, with respect Partnership by mail to the first Redemption Date, and each record holder to be redeemed not less fewer than thirty (30) 30 nor more than 60 days prior to the second date fixed for redemption thereof. For purposes of the calculation of the date of redemption and third Redemption Datesthe dates on which the Call Notice is given, a Call Notice shall be deemed to be given on the Corporation shall day such notice is first mailed by first-class mail, first class postage prepaid, written notice (the “to such holders of Series E Preferred Interests. Each Call Notice shall be addressed to such holders of Redemption”) to each holder of record (at the close of business on the business day preceding the day on which notice is given) of Series E Preferred Stock, Interests at the address last shown on of the holder appearing in the books and records of the Corporation for such holder Partnership. No defect in the Call Notice or given by in the holder to mailing thereof or publication of its contents shall affect the Corporation, for the purpose of notifying such holder validity of the redemption proceedings. (ii) In the event that fewer than all the outstanding Series E Preferred Interests are to be effected. The Notice of Redemption shall specify the applicable Redemption Dateredeemed, the number of shares of each series of Series E Preferred Stock held by the holder that the Corporation shall redeem on the Redemption Date specified in the Notice of Redemption, and the place at which payment shall be made, which shall be the principal offices of the Corporation or such other place as shall be mutually agreeable to the Corporation and holders of a majority of the shares of Preferred Stock then outstanding, on an as-converted basis. The Notice of Redemption shall call upon each holder of Preferred Stock to either (i) surrender to the Corporation, in the manner and at the place designated, such holder’s certificate or certificates representing the shares Interests to be redeemed will be selected at the Partnership's discretion. (iii) If the Partnership gives a Call Notice in respect of Series E Preferred Interests, then upon the date fixed for redemption of the Series E Preferred Interests, all rights of the holders of the Series E Preferred Interests so called for redemption will cease, except the right of the holders of such securities to receive the Call Price. In the event that any date fixed for redemption of Series E Preferred Interests is not a business day, then payment of the Call Price payable on such date will be made on the next succeeding day which is a business day (and without any interest or (ii) convert other payment in respect of any such Preferred Stock into Common Stock prior to the applicable Redemption Date in accordance with the provisions of Section 4.3 above. Subject to Section 4.4 (Cdelay), on each Redemption Dateexcept that, if such business day falls in the Corporation shall pay the Redemption Price in cash or by check to the order of the person whose name appears next calendar year, such payment will be made on the certificate or certificates of the Preferred Stock that (i) shall not have been converted pursuant to Section 4.3 hereof and (ii) shall have been surrendered to the Corporation in the manner and at the place designated in the Notice of Redemption and thereupon each surrendered certificate shall be canceledimmediately preceding business day.

Appears in 1 contract

Sources: Limited Partnership Agreement (SFG Capital Corp)

Redemption Procedure. Subject to subsection (A) A Notice of this Section 4.4, within fifteen (15) days of the receipt Redemption shall be given by the Corporation of the Redemption Request, with respect to the first Redemption Date, and not less than thirty (30) 15 days nor more than 40 days prior to the second and third Redemption Dates, the Corporation shall mail, first class postage prepaid, written notice (the “Notice of Redemption”) date fixed for redemption to each holder Holder of record (at the close of business on the business day preceding the day on which notice is given) of Preferred Stock, at the address last shown on the records of the Corporation for such holder or given by the holder to the Corporation, for the purpose of notifying such holder of the redemption Series A Preference Shares to be effectedredeemed. The Notice Accidental failure or omission to give such notice to one or more of Redemption such Holders shall specify not affect the applicable Redemption Date, validity of such redemption. On and after the number of shares of each series of Preferred Stock held by the holder that the Corporation shall redeem on the Redemption Date specified in the Notice of Redemption, and the place at which payment shall be made, which shall be the principal offices of the Corporation or such other place as shall be mutually agreeable to the Corporation and holders of a majority of the shares of Preferred Stock then outstanding, on an as-converted basis. The Notice of Redemption shall call upon each holder of Preferred Stock to either (i) surrender to the Corporation, in the manner and at the place designated, such holder’s certificate or certificates representing the shares to be redeemed or (ii) convert such Preferred Stock into Common Stock prior to the applicable Redemption Date in accordance with the provisions of Section 4.3 above. Subject to Section 4.4 (C), on each Redemption Date, the Corporation shall pay the Redemption Price in cash or by check cause to be paid to or to the order of the person whose name appears on the certificate or certificates Holders of the Preferred Stock that (i) shall not have been converted pursuant Series A Preference Shares to Section 4.3 hereof be redeemed the Redemption Price on presentation and (ii) shall have been surrendered to the Corporation in the manner and surrender at the place designated of redemption of the respective certificates representing such shares. Such payment shall be made by cheque drawn on a Canadian chartered bank and payable at par at any branch in Canada of such bank. Such shares in respect of which the Redemption Price has been paid as aforesaid shall thereupon be redeemed. If less than all the Series A Preference Shares represented by any certificate shall be redeemed, a new certificate for the balance shall be issued. From and after the Redemption Date, the Holders of the Series A Preference Shares called for redemption shall cease to be entitled to dividends or to exercise any of the rights of Holders in respect thereof unless payment of the Redemption Price shall not be made in accordance with the foregoing provisions, in which case the rights of the Holders shall remain unimpaired. The Corporation shall have the right at any time after mailing a Notice of Redemption to deposit the Redemption Price of the shares thereby called for redemption, or such part thereof as at the time of deposit has not been claimed by the persons entitled thereto, in any Canadian chartered bank or trust company in Canada specified in the Notice of Redemption or in a subsequent notice to the Holders in respect of which the deposit is made, in a special account for the Holders of such shares, and thereupon each surrendered certificate upon such deposit being made or upon the Redemption Date, whichever is later, the Series A Preference Shares in respect of which such deposit shall have been made shall be canceleddeemed to be redeemed and the rights of each Holder shall be limited to receiving, without interest, his proportionate part of the Redemption Price so deposited upon presentation and surrender of the certificate representing his shares to be redeemed. Any interest on such deposit shall belong to the Corporation.

Appears in 1 contract

Sources: Amalgamation Agreement (Hollinger Inc)

Redemption Procedure. Subject (i) Notice of any redemption pursuant to subsection this Section 9 (Aa "Call Notice") of this Section 4.4, within fifteen (15) days of the receipt Series B Preferred Interests will be given by the Corporation of the Redemption Request, with respect Partnership by mail to the first Redemption Date, and each record holder to be redeemed not less fewer than thirty (30) 30 nor more than 60 days prior to the second date fixed for redemption thereof. For purposes of the calculation of the date of redemption and third Redemption Datesthe dates on which the Call Notice is given, a Call Notice shall be deemed to be given on the Corporation shall day such notice is first mailed by first-class mail, first class postage prepaid, written notice (the “to such holders of Series B Preferred Interests. Each Call Notice shall be addressed to such holders of Redemption”) to each holder of record (at the close of business on the business day preceding the day on which notice is given) of Series B Preferred Stock, Interests at the address last shown on of the holder appearing in the books and records of the Corporation for such holder Partnership. No defect in the Call Notice or given by in the holder to mailing thereof or publication of its contents shall affect the Corporation, for the purpose of notifying such holder validity of the redemption proceedings. (ii) In the event that fewer than all the outstanding Series B Preferred Interests are to be effected. The Notice of Redemption shall specify the applicable Redemption Dateredeemed, the number of shares of each series of Series B Preferred Stock held by the holder that the Corporation shall redeem on the Redemption Date specified in the Notice of Redemption, and the place at which payment shall be made, which shall be the principal offices of the Corporation or such other place as shall be mutually agreeable to the Corporation and holders of a majority of the shares of Preferred Stock then outstanding, on an as-converted basis. The Notice of Redemption shall call upon each holder of Preferred Stock to either (i) surrender to the Corporation, in the manner and at the place designated, such holder’s certificate or certificates representing the shares Interests to be redeemed will be selected at the Partnership's discretion. (iii) If the Partnership gives a Call Notice in respect of Series B Preferred Interests, then upon the date fixed for redemption of the Series B Preferred Interests, all rights of the holders of the Series B Preferred Interests so called for redemption will cease, except the right of the holders of such securities to receive the Call Price. In the event that any date fixed for redemption of Series B Preferred Interests is not a business day, then payment of the Call Price payable on such date will be made on the next succeeding day which is a business day (and without any interest or (ii) convert other payment in respect of any such Preferred Stock into Common Stock prior to the applicable Redemption Date in accordance with the provisions of Section 4.3 above. Subject to Section 4.4 (Cdelay), on each Redemption Dateexcept that, if such business day falls in the Corporation shall pay the Redemption Price in cash or by check to the order of the person whose name appears next calendar year, such payment will be made on the certificate or certificates of the Preferred Stock that (i) shall not have been converted pursuant to Section 4.3 hereof and (ii) shall have been surrendered to the Corporation in the manner and at the place designated in the Notice of Redemption and thereupon each surrendered certificate shall be canceledimmediately preceding business day. [THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK.]

Appears in 1 contract

Sources: Limited Partnership Agreement (SFG Capital Corp)

Redemption Procedure. Subject (i) Notice of any redemption pursuant to subsection this Section 9 (Aa "Call Notice") of this Section 4.4, within fifteen (15) days of the receipt Series E Preferred Interests will be given by the Corporation of the Redemption Request, with respect Partnership by mail to the first Redemption Date, and each record holder to be redeemed not less fewer than thirty (30) 30 nor more than 60 days prior to the second date fixed for redemption thereof. For purposes of the calculation of the date of redemption and third Redemption Datesthe dates on which the Call Notice is given, a Call Notice shall be deemed to be given on the Corporation shall day such notice is first mailed by first-class mail, first class postage prepaid, written notice (the “to such holders of Series E Preferred Interests. Each Call Notice shall be addressed to such holders of Redemption”) to each holder of record (at the close of business on the business day preceding the day on which notice is given) of Series E Preferred Stock, Interests at the address last shown on of the holder appearing in the books and records of the Corporation for such holder or given by Partnership. No defect in the holder to Call Notice (ii) In the Corporation, for event that fewer than all the purpose of notifying such holder of the redemption outstanding Series E Preferred Interests are to be effected. The Notice of Redemption shall specify the applicable Redemption Dateredeemed, the number of shares of each series of Series E Preferred Stock held by the holder that the Corporation shall redeem on the Redemption Date specified in the Notice of Redemption, and the place at which payment shall be made, which shall be the principal offices of the Corporation or such other place as shall be mutually agreeable to the Corporation and holders of a majority of the shares of Preferred Stock then outstanding, on an as-converted basis. The Notice of Redemption shall call upon each holder of Preferred Stock to either (i) surrender to the Corporation, in the manner and at the place designated, such holder’s certificate or certificates representing the shares Interests to be redeemed will be selected at the Partnership's discretion. (iii) If the Partnership gives a Call Notice in respect of Series E Preferred Interests, then upon the date fixed for redemption of the Series E Preferred Interests, all rights of the holders of the Series E Preferred Interests so called for redemption will cease, except the right of the holders of such securities to receive the Call Price. In the event that any date fixed for redemption of Series E Preferred Interests is not a business day, then payment of the Call Price payable on such date will be made on the next succeeding day which is a business day (and without any interest or (ii) convert other payment in respect of any such Preferred Stock into Common Stock prior to the applicable Redemption Date in accordance with the provisions of Section 4.3 above. Subject to Section 4.4 (Cdelay), on each Redemption Dateexcept that, if such business day falls in the Corporation shall pay the Redemption Price in cash or by check to the order of the person whose name appears next calendar year, such payment will be made on the certificate or certificates of the Preferred Stock that (i) shall not have been converted pursuant to Section 4.3 hereof and (ii) shall have been surrendered to the Corporation in the manner and at the place designated in the Notice of Redemption and thereupon each surrendered certificate shall be canceledimmediately preceding business day.

Appears in 1 contract

Sources: Limited Partnership Agreement (SFG Capital Corp)

Redemption Procedure. Subject (i) Notice of any redemption pursuant to subsection this Section 9 (Aa "Call Notice") of this Section 4.4, within fifteen (15) days of the receipt Series A Preferred Interests will be given by the Corporation of the Redemption Request, with respect Partnership by mail to the first Redemption Date, and each record holder to be redeemed not less fewer than thirty (30) 30 nor more than 60 days prior to the second date fixed for redemption thereof. For purposes of the calculation of the date of redemption and third Redemption Datesthe dates on which the Call Notice is given, a Call Notice shall be deemed to be given on the Corporation shall day such notice is first mailed by first-class mail, first class postage prepaid, written notice to such holders of Series A Preferred Interests. Each Call Notice shall be (ii) In the “Notice of Redemption”) to each holder of record (at event that fewer than all the close of business on the business day preceding the day on which notice is given) of outstanding Series A Preferred Stock, at the address last shown on the records of the Corporation for such holder or given by the holder to the Corporation, for the purpose of notifying such holder of the redemption Interests are to be effected. The Notice of Redemption shall specify the applicable Redemption Dateredeemed, the number of shares of each series of Series A Preferred Stock held by the holder that the Corporation shall redeem on the Redemption Date specified in the Notice of Redemption, and the place at which payment shall be made, which shall be the principal offices of the Corporation or such other place as shall be mutually agreeable to the Corporation and holders of a majority of the shares of Preferred Stock then outstanding, on an as-converted basis. The Notice of Redemption shall call upon each holder of Preferred Stock to either (i) surrender to the Corporation, in the manner and at the place designated, such holder’s certificate or certificates representing the shares Interests to be redeemed will be selected at the Partnership's discretion. (iii) If the Partnership gives a Call Notice in respect of Series A Preferred Interests, then upon the date fixed for redemption of the Series A Preferred Interests, all rights of the holders of the Series A Preferred Interests so called for redemption will cease, except the right of the holders of such securities to receive the Call Price. In the event that any date fixed for redemption of Series A Preferred Interests is not a business day, then payment of the Call Price payable on such date will be made on the next succeeding day which is a business day (and without any interest or (ii) convert other payment in respect of any such Preferred Stock into Common Stock prior to the applicable Redemption Date in accordance with the provisions of Section 4.3 above. Subject to Section 4.4 (Cdelay), on each Redemption Dateexcept that, if such business day falls in the Corporation shall pay the Redemption Price in cash or by check to the order of the person whose name appears next calendar year, such payment will be made on the certificate or certificates of the Preferred Stock that (i) shall not have been converted pursuant to Section 4.3 hereof and (ii) shall have been surrendered to the Corporation in the manner and at the place designated in the Notice of Redemption and thereupon each surrendered certificate shall be canceledimmediately preceding business day.

Appears in 1 contract

Sources: Limited Partnership Agreement (SFG Capital Corp)

Redemption Procedure. Subject The Corporation shall designate by lot, or in such other manner as the Board of Directors may determine, the shares to subsection (A) of this Section 4.4be redeemed, within fifteen (15) days of the receipt by the Corporation of the Redemption Request, with respect to the first Redemption Date, and not or shall effect such redemption pro rata. Not more than 60 nor less than thirty (30) 30 days prior to the second and third Optional Redemption DatesDate, the Corporation shall notice by first-class mail, first class postage prepaid, written notice (shall be given to the “Notice of Redemption”) to each holder holders of record (of the Series A Preferred to be redeemed, addressed to such stockholders at their last addresses as shown on the books of the Corporation. Each such notice of redemption shall specify the date fixed for redemption, the Redemption Price, the place or places of payment, that payment will be made upon presentation and surrender of the shares of Series A Preferred, that on and after the redemption date dividends will cease to accumulate on such shares, the then-effective conversion rate pursuant to Section 4 and that the right of holders to convert shall terminate at the close of business on the business day preceding Optional Redemption Date. Any notice which is mailed as herein provided shall be conclusively presumed to have been duly given, whether or not the day on which notice is given) of Preferred Stock, at the address last shown on the records of the Corporation for such holder or given by the holder to the Corporation, for the purpose of notifying such holder of the Series A Preferred receives such notice; and failure to give such notice by mail, or any defect in such notice, to the holders of any shares designated for redemption to be effected. The Notice shall not affect the validity of Redemption shall specify the applicable Redemption Date, proceedings for the number redemption of any other shares of Series A Preferred. On or after the date fixed for redemption as stated in such notice, each series of Preferred Stock held by the holder that the Corporation shall redeem on the Redemption Date specified in the Notice of Redemption, and the place at which payment shall be made, which shall be the principal offices of the Corporation or shares called for redemption shall surrender the certificate evidencing such other place as shall be mutually agreeable shares to the Corporation and holders of a majority of the shares of Preferred Stock then outstanding, on an as-converted basis. The Notice of Redemption shall call upon each holder of Preferred Stock to either (i) surrender to the Corporation, in the manner and at the place designated, such holder’s certificate or certificates representing the shares to be redeemed or (ii) convert such Preferred Stock into Common Stock prior to the applicable Redemption Date in accordance with the provisions of Section 4.3 above. Subject to Section 4.4 (C), on each Redemption Date, the Corporation shall pay the Redemption Price in cash or by check to the order of the person whose name appears on the certificate or certificates of the Preferred Stock that (i) shall not have been converted pursuant to Section 4.3 hereof and (ii) shall have been surrendered to the Corporation in the manner and at the place designated in such notice and shall thereupon be entitled to receive payment of the Notice of Redemption and thereupon each Price. If less than all the shares represented by any such surrendered certificate are redeemed, a new certificate shall be canceledissued representing the unredeemed shares. If, on the date fixed for redemption, funds necessary for the redemption shall be available therefor and shall have been irrevocably deposited or set aside, then, notwithstanding that the certificates evidencing any shares so called for redemption shall not have been surrendered, the dividends with respect to the shares so called shall cease to accrue after the date fixed for redemption, the shares shall no longer be deemed outstanding, the holders thereof shall cease to be stockholders, and all rights whatsoever with respect to the shares so called for redemption (except the right of the holders to receive the Redemption Price without interest upon surrender of their certificates therefor) shall terminate.

Appears in 1 contract

Sources: Securities Purchase Agreement (Tor Minerals International Inc)

Redemption Procedure. Subject (1) The Corporation shall redeem all or any portion of the Series A Preferred Shares by providing written notice to subsection (A) the holders, which notice shall be mailed in accordance with Section 12. Such notice shall state the number of this Section 4.4shares to be redeemed and the COC Redemption Date, which date shall be within fifteen (15) 20 calendar days of the receipt date of such notice. The Corporation shall be entitled to utilize any method chosen by the Board of Directors thereof in order to determine which Series A Preferred Shares to redeem. Payment for such redeemed shares shall be made by the Corporation of within two Business Days following the Redemption Request, with respect to the first COC Redemption Date, . (2) From and not less than thirty (30) days prior to the second and third Redemption Dates, the Corporation shall mail, first class postage prepaid, written notice (the “Notice of Redemption”) to each holder of record (at after the close of business on the business day preceding the day on which notice is given) of Preferred Stock, at the address last shown on the records of the Corporation for such holder or given by the holder to the Corporation, for the purpose of notifying such holder of the redemption to be effected. The Notice of Redemption shall specify the applicable COC Redemption Date, and provided that the number of shares of each series of COC Redemption Price for such Series A Preferred Stock held Shares has been received by the holder that relevant holder, each Series A Preferred Share redeemed in accordance with this Section 10 shall no longer be deemed outstanding and all rights with respect to any such share shall forthwith cease following such redemption, except only the Corporation shall redeem on the Redemption Date specified in the Notice of Redemption, and the place at which payment shall be made, which shall be the principal offices right of the Corporation or such other place as shall be mutually agreeable holder thereof to the Corporation and holders of a majority of the shares of Preferred Stock then outstandingreceive, on an as-converted basis. The Notice of Redemption shall call upon each holder of Preferred Stock to either (i) surrender to the Corporation, in the manner and at the place designated, such holder’s certificate or certificates representing the shares to be redeemed or (ii) convert such Preferred Stock into Common Stock prior to the applicable Redemption Date presentation in accordance with the provisions requirements of this Section 4.3 above10 below of the certificate or certificates, or delivery of a Lost Stock Agreement, representing shares redeemed pursuant to this Section 10, the applicable COC Redemption Price for such share, without interest thereon. Subject Notwithstanding anything to Section 4.4 (C), on each Redemption Datethe contrary herein, the Corporation shall pay the Redemption Price not be required to make any payment in cash or by check to the order respect of the person whose name appears on the certificate or certificates of the Series A Preferred Stock that (i) shall not have been converted Shares redeemed pursuant to this Section 4.3 hereof and (ii) shall have been surrendered 10 until actual delivery to the Corporation or its agents of the certificates, or a Lost Stock Agreement, representing the shares redeemed hereby, such delivery to be conducted in accordance with the manner and at the place designated in the Notice requirements of Redemption and thereupon each surrendered certificate paragraph (c) of this Section 10. (3) All Series A Preferred Shares redeemed pursuant to this paragraph (b)(3) shall be canceledcancelled.

Appears in 1 contract

Sources: Agreement and Plan of Merger (Marathon Acquisition Corp.)

Redemption Procedure. Subject (1) The Corporation may, but shall not be obligated to, elect to subsection (A) redeem all or any portion of this the Series A Preferred Shares by providing written notice to the holders, which notice shall be given in accordance with Section 4.412. Such notice shall state the number of shares to be redeemed and the Optional Redemption Date, which date shall be within fifteen (15) 20 calendar days of the receipt date of such notice. The Corporation shall be entitled to utilize any method reasonably chosen by the Board of Directors thereof in order to determine which Series A Preferred Shares to redeem. Payment for such redeemed shares shall be made by the Corporation of within two Business Days following the Redemption Request, with respect to the first Optional Redemption Date, . (2) From and not less than thirty (30) days prior to the second and third Redemption Dates, the Corporation shall mail, first class postage prepaid, written notice (the “Notice of Redemption”) to each holder of record (at after the close of business on the business day preceding the day on which notice is given) of Preferred Stock, at the address last shown on the records of the Corporation for such holder or given by the holder to the Corporation, for the purpose of notifying such holder of the redemption to be effected. The Notice of Redemption shall specify the applicable Optional Redemption Date, and provided that the number of shares of each series of Optional Redemption Price for such Series A Preferred Stock held Shares has been received by the relevant holder, the Series A Preferred Shares redeemed in accordance with this Section 9 shall no longer be deemed outstanding and all rights with respect to any such share shall forthwith cease following such redemption, except only the right of the holder that thereof to receive, upon presentation in accordance with the requirements of this Section 9 below of the certificate or certificates, or delivery of a Lost Stock Agreement, representing shares redeemed pursuant to this Section 9, the applicable Optional Redemption Price for such share, without interest thereon. Notwithstanding anything to the contrary herein, the Corporation shall redeem on the Redemption Date specified not be required to make any payment in the Notice respect of Redemption, and the place at which payment shall be made, which shall be the principal offices of Series A Preferred Shares redeemed pursuant to this Section 8 until actual delivery to the Corporation or such other place as shall be mutually agreeable to the Corporation and holders of a majority its agents of the shares of Preferred Stock then outstanding, on an as-converted basis. The Notice of Redemption shall call upon each holder of Preferred Stock to either (i) surrender to the Corporation, in the manner and at the place designated, such holder’s certificate or certificates representing the shares redeemed hereby, such delivery to be redeemed or (ii) convert such Preferred Stock into Common Stock prior to the applicable Redemption Date conducted in accordance with the provisions requirements of paragraph (c) of this Section 4.3 above. Subject 8. (3) All Series A Preferred Shares redeemed pursuant to Section 4.4 this paragraph (C), on each Redemption Date, the Corporation shall pay the Redemption Price in cash or by check to the order of the person whose name appears on the certificate or certificates of the Preferred Stock that (ib)(3) shall not have been converted pursuant to Section 4.3 hereof and (ii) shall have been surrendered to the Corporation in the manner and at the place designated in the Notice of Redemption and thereupon each surrendered certificate shall be canceledcancelled.

Appears in 1 contract

Sources: Agreement and Plan of Merger (Marathon Acquisition Corp.)

Redemption Procedure. Subject (i) Notice of any redemption pursuant to subsection this Section 9 (Aa "Call Notice") of this Section 4.4, within fifteen (15) days of the receipt Series A Preferred Interests will be given by the Corporation of the Redemption Request, with respect Partnership by mail to the first Redemption Date, and each record holder to be redeemed not less fewer than thirty (30) 30 nor more than 60 days prior to the second date fixed for redemption thereof. For purposes of the calculation of the date of redemption and third Redemption Datesthe dates on which the Call Notice is given, a Call Notice shall be deemed to be given on the Corporation shall day such notice is first mailed by first-class mail, first class postage prepaid, written notice (the “to such holders of Series A Preferred Interests. Each Call Notice shall be addressed to such holders of Redemption”) to each holder of record (at the close of business on the business day preceding the day on which notice is given) of Series A Preferred Stock, Interests at the address last shown on of the holder appearing in the books and records of the Corporation for such holder Partnership. No defect in the Call Notice or given by in the holder to mailing thereof or publication of its contents shall affect the Corporation, for the purpose of notifying such holder validity of the redemption proceedings. (ii) In the event that fewer than all the outstanding Series A Preferred Interests are to be effected. The Notice of Redemption shall specify the applicable Redemption Dateredeemed, the number of shares of each series of Series A Preferred Stock held by the holder that the Corporation shall redeem on the Redemption Date specified in the Notice of Redemption, and the place at which payment shall be made, which shall be the principal offices of the Corporation or such other place as shall be mutually agreeable to the Corporation and holders of a majority of the shares of Preferred Stock then outstanding, on an as-converted basis. The Notice of Redemption shall call upon each holder of Preferred Stock to either (i) surrender to the Corporation, in the manner and at the place designated, such holder’s certificate or certificates representing the shares Interests to be redeemed will be selected at the Partnership's discretion. (iii) If the Partnership gives a Call Notice in respect of Series A Preferred Interests, then upon the date fixed for redemption of the Series A Preferred Interests, all rights of the holders of the Series A Preferred Interests so called for redemption will cease, except the right of the holders of such securities to receive the Call Price. In the event that any date fixed for redemption of Series A Preferred Interests is not a business day, then payment of the Call Price payable on such date will be made on the next succeeding day which is a business day (and without any interest or (ii) convert other payment in respect of any such Preferred Stock into Common Stock prior to the applicable Redemption Date in accordance with the provisions of Section 4.3 above. Subject to Section 4.4 (Cdelay), on each Redemption Dateexcept that, if such business day falls in the Corporation shall pay the Redemption Price in cash or by check to the order of the person whose name appears next calendar year, such payment will be made on the certificate or certificates of the Preferred Stock that (i) shall not have been converted pursuant to Section 4.3 hereof and (ii) shall have been surrendered to the Corporation in the manner and at the place designated in the Notice of Redemption and thereupon each surrendered certificate shall be canceledimmediately preceding business day.

Appears in 1 contract

Sources: Limited Partnership Agreement (SFG Capital Corp)

Redemption Procedure. Subject to subsection (A1) Upon the occurrence of this Section 4.4a Warrant Trigger Event or Significant Transaction Event, within fifteen (15) days of the receipt by the Corporation of the Redemption Request, with respect to the first Redemption Date, and not less than thirty (30) days prior to the second and third Redemption Datesas applicable, the Corporation shall mail, first class postage prepaid, provide written notice to the holders, which notice shall be given in accordance with Section 12. Such notice shall state the number of shares to be redeemed and the Certain Event Mandatory Redemption Date, which date shall be within 20 calendar days of the date of such notice. Payment for such redeemed shares shall be made by the Corporation within two Business Days following the Certain Event Mandatory Redemption Date. (the “Notice of Redemption”2) to each holder of record (at From and after the close of business on the business day preceding the day on which notice is given) of Preferred Stock, at the address last shown on the records of the Corporation for such holder or given by the holder to the Corporation, for the purpose of notifying such holder of the redemption to be effected. The Notice of Redemption shall specify the applicable Certain Event Mandatory Redemption Date, and provided that the number of shares of each series of Certain Event Mandatory Redemption Price for the Series A Preferred Stock held Shares has been received by the relevant holder, each Series A Preferred Share redeemed in accordance with this Section 8 shall no longer be deemed outstanding and all rights with respect to any such share shall forthwith cease following such redemption, except only the right of the holder that thereof to receive, upon presentation in accordance with the requirements of this Section 8 below of the certificate or certificates, or Lost Stock Agreement, representing shares redeemed pursuant to this Section 8, the applicable Certain Event Mandatory Redemption Price for such share, without interest thereon. Notwithstanding anything to the contrary herein, the Corporation shall redeem on the Redemption Date specified not be required to make any payment in the Notice respect of Redemption, and the place at which payment shall be made, which shall be the principal offices of Series A Preferred Shares redeemed pursuant to this Section 8 until actual delivery to the Corporation or such other place as shall be mutually agreeable to the Corporation and holders of a majority its agents of the shares of Preferred Stock then outstanding, on an as-converted basis. The Notice of Redemption shall call upon each holder of Preferred Stock to either (i) surrender to the Corporation, in the manner and at the place designated, such holder’s certificate or certificates representing the shares redeemed hereby, or a Lost Stock Agreement, such delivery to be redeemed or (ii) convert such Preferred Stock into Common Stock prior to the applicable Redemption Date conducted in accordance with the provisions requirements of paragraph (c) of this Section 4.3 above. Subject to Section 4.4 8. (C), on each Redemption Date, the Corporation shall pay the Redemption Price in cash or by check to the order of the person whose name appears on the certificate or certificates of the 3) All Series A Preferred Stock that (i) shall not have been converted Shares redeemed pursuant to this Section 4.3 hereof and (ii) shall have been surrendered to the Corporation in the manner and at the place designated in the Notice of Redemption and thereupon each surrendered certificate 8 shall be canceledcancelled.

Appears in 1 contract

Sources: Agreement and Plan of Merger (Marathon Acquisition Corp.)

Redemption Procedure. Subject to subsection (A) of this Section 4.4On or after the date fixed for redemption as stated in the Optional Redemption Notice, within fifteen (15) days of the receipt by the Corporation of the Redemption Request, with respect to the first Redemption Date, and not less than thirty (30) days prior to the second and third Redemption Dates, the Corporation shall mail, first class postage prepaid, written notice (the “Notice of Redemption”) to each holder of record (at the close of business on the business day preceding the day on which notice is given) of Preferred Stock, at the address last shown on the records of the Corporation for such holder or given by the holder to the Corporation, for the purpose of notifying such holder of the redemption to be effected. The Notice of Redemption shall specify the applicable Redemption Date, the number of shares of each series of Preferred Stock held by the holder that the Corporation shall redeem on the Redemption Date specified in the Notice of Redemption, and the place at which payment shall be made, which shall be the principal offices of the Corporation or such other place as shall be mutually agreeable to the Corporation and holders of a majority of the shares of Series A Preferred Stock then outstanding, on an as-converted basis. The Notice of Redemption called for redemption shall call upon each holder of Preferred Stock to either (i) surrender to the Corporation, in the manner and at the place designated, such holder’s certificate or certificates representing the shares to be redeemed or (ii) convert such Preferred Stock into Common Stock prior to the applicable Redemption Date in accordance with the provisions of Section 4.3 above. Subject to Section 4.4 (C), on each Redemption Date, the Corporation shall pay the Redemption Price in cash or by check to the order of the person whose name appears on the certificate or certificates evidencing such shares of the Series A Preferred Stock that (i) shall not have been converted pursuant to Section 4.3 hereof and (ii) shall have been surrendered to the Corporation in the manner and at the place designated in such notice, and shall thereupon be entitled to receive payment of the Notice aggregate Redemption Price. If fewer than all the shares of Redemption and thereupon each Series A Preferred Stock represented by any such surrendered certificate or certificates are redeemed, a new certificate shall be canceledissued representing the unredeemed shares of Series A Preferred Stock. If, on the date fixed for redemption, funds necessary for the redemption shall be available therefor and shall have been irrevocably deposited or set aside, then, notwithstanding that the certificates evidencing any shares called for redemption shall not have been surrendered, the dividends with respect to the shares so called shall cease to accumulate on and after the date fixed for redemption, such shares of Series A Preferred Stock shall no longer be deemed outstanding, the holders thereof shall cease to be shareholders with respect to such shares, and all rights whatsoever with respect to such shares (except the right of the holders thereof to receive the aggregate Redemption Price, without interest, upon surrender of their certificates) shall terminate. If any holder of shares of Series A Preferred Stock to be redeemed has lost, misplaced or is otherwise unable to deliver the certificates representing such shares, such holder shall execute and deliver an affidavit of loss in customary form containing an indemnification of the Corporation with respect to any undelivered certificates, and upon such execution and delivery the former holder of such shares shall become entitled to receive the aggregate Redemption Price.

Appears in 1 contract

Sources: Merger Agreement (Uron Inc)

Redemption Procedure. Subject to subsection (AIn the case of redemption of Class A Shares under the provisions of Subsection 5(1) of this Section 4.4, within fifteen (15) days of the receipt by the Corporation of the Redemption Request, with respect to the first Redemption Date, and not less than thirty (30) days prior to the second and third Redemption Dateshereof, the Corporation shall mailat least 30 days before the date specified for redemption mail to each person who at the date of mailing is a registered holder of Class A Shares to be redeemed a notice in writing of the intention of the Corporation to redeem such Class A Shares. Such notice shall be mailed by letter, first class postage prepaid, written notice (the “Notice of Redemption”) addressed to each holder of record (such shareholder at the close of business on the business day preceding the day on which notice is given) of Preferred Stock, at the his address last shown as it appears on the records of the Corporation for or in the event of the address of any such holder shareholder not so appearing then to the last known address of such shareholder; provided, however, that accidental failure to give any such notice to one or given more of such shareholders shall not affect the validity of such redemption. Such notice shall set out the Preference Redemption Price and the date on which redemption is to take place and, if part only of the shares held by the holder person to the Corporation, for the purpose of notifying such holder of the redemption whom it is addressed are to be effected. The Notice of Redemption shall specify the applicable Redemption Dateredeemed, the number of shares of each series of Preferred Stock held by the holder that the Corporation shall redeem on the Redemption Date specified in the Notice of Redemption, and the place at which payment shall be made, which shall be the principal offices of the Corporation or such other place as shall be mutually agreeable to the Corporation and holders of a majority of the shares of Preferred Stock then outstanding, on an as-converted basis. The Notice of Redemption shall call upon each holder of Preferred Stock to either (i) surrender to the Corporation, in the manner and at the place designated, such holder’s certificate or certificates representing the shares thereof so to be redeemed redeemed. On or (ii) convert such Preferred Stock into Common Stock prior to after the applicable Redemption Date in accordance with the provisions of Section 4.3 above. Subject to Section 4.4 (C), on each Redemption Datedate so specified for redemption, the Corporation shall pay the Redemption Price in cash or by check cause to be paid to or to the order of the person whose name appears on the certificate or certificates registered holders of the Preferred Stock that (i) Class A Shares to be redeemed the Preference Redemption Price thereof on presentation and surrender at the registered office of the Corporation or any other place designated in such notice of the certificates representing the Class A Shares called for redemption. Such payment shall be made by cheque payable at par at any branch of the Corporation's bank in Canada. If a part only of the shares represented by any certificate be redeemed, a new certificate for the balance shall be issued at the expense of the Corporation. From and after the date specified for redemption in any such notice the Class A Shares called for redemption shall cease to be entitled to dividends and the holders thereof shall not be entitled to exercise any of the rights of shareholders in respect thereof unless payment of the Preference Redemption Price shall not be made upon presentation of certificates in accordance with the foregoing provisions, in which case the rights of the shareholders shall remain unaffected. The Corporation shall have the right at any time after the mailing of notice of its intention to redeem any Class A Shares to deposit the Preference Redemption Price of the shares so called for redemption or of such of the said shares represented by certificates as have not at the date of such deposit been converted pursuant surrendered by the holders thereof in connection with such redemption to Section 4.3 hereof a special account in any chartered bank or in any trust company in Canada, named in such notice, to be paid without interest to or to the order of the respective holders of such Class A Shares called for redemption upon presentation and (ii) surrender to such bank or trust company of the certificates representing the same, and upon such deposit being made or upon the date specified for redemption in such notice, whichever is later, the Class A Shares in respect whereof such deposit shall have been surrendered made shall be redeemed and the rights of the holders thereof after such deposit or such redemption date, as the case may be, shall be limited to receiving without interest their proportionate part of the total Preference Redemption Price so deposited against presentation and surrender of the said certificates held by them respectively and any interest allowed on such deposit shall belong to the Corporation in the manner and at the place designated in the Notice of Redemption and thereupon each surrendered certificate shall be canceledCorporation.

Appears in 1 contract

Sources: Subscription Agreement

Redemption Procedure. Subject (i) Notice of any redemption pursuant to subsection this Section 9 (Aa "Call Notice") of this Section 4.4, within fifteen (15) days of the receipt Series D Preferred Interests will be given by the Corporation of the Redemption Request, with respect Partnership by mail to the first Redemption Date, and each record holder to be redeemed not less fewer than thirty (30) 30 nor more than 60 days prior to the second date fixed for redemption thereof. For purposes of the calculation of the date of redemption and third Redemption Datesthe dates on which the Call Notice is given, a Call Notice shall be deemed to be given on the Corporation shall day such notice is first mailed by first-class mail, first class postage prepaid, written notice (the “to such holders of Series D Preferred Interests. Each Call Notice shall be addressed to such holders of Redemption”) to each holder of record (at the close of business on the business day preceding the day on which notice is given) of Series D Preferred Stock, Interests at the address last shown on of the holder appearing in the books and records of the Corporation for such holder Partnership. No defect in the Call Notice or given by in the holder to mailing thereof or publication of its contents shall affect the Corporation, for the purpose of notifying such holder validity of the redemption proceedings. (ii) In the event that fewer than all the outstanding Series D Preferred Interests are to be effected. The Notice of Redemption shall specify the applicable Redemption Dateredeemed, the number of shares of each series of Series D Preferred Stock held by the holder that the Corporation shall redeem on the Redemption Date specified in the Notice of Redemption, and the place at which payment shall be made, which shall be the principal offices of the Corporation or such other place as shall be mutually agreeable to the Corporation and holders of a majority of the shares of Preferred Stock then outstanding, on an as-converted basis. The Notice of Redemption shall call upon each holder of Preferred Stock to either (i) surrender to the Corporation, in the manner and at the place designated, such holder’s certificate or certificates representing the shares Interests to be redeemed will be selected at the Partnership's discretion. (iii) If the Partnership gives a Call Notice in respect of Series D Preferred Interests, then upon the date fixed for redemption of the Series D Preferred Interests, all rights of the holders of the Series D Preferred Interests so called for redemption will cease, except the right of the holders of such securities to receive the Call Price. In the event that any date fixed for redemption of Series D Preferred Interests is not a business day, then payment of the Call Price payable on such date will be made on the next succeeding day which is a business day (and without any interest or (ii) convert other payment in respect of any such Preferred Stock into Common Stock prior to the applicable Redemption Date in accordance with the provisions of Section 4.3 above. Subject to Section 4.4 (Cdelay), on each Redemption Dateexcept that, if such business day falls in the Corporation shall pay the Redemption Price in cash or by check to the order of the person whose name appears next calendar year, such payment will be made on the certificate or certificates of the Preferred Stock that (i) shall not have been converted pursuant to Section 4.3 hereof and (ii) shall have been surrendered to the Corporation in the manner and at the place designated in the Notice of Redemption and thereupon each surrendered certificate shall be canceledimmediately preceding business day. [THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK.]

Appears in 1 contract

Sources: Limited Partnership Agreement (SFG Capital Corp)

Redemption Procedure. Subject (i) Notice of any redemption pursuant to subsection this Section 9 (Aa "Call Notice") of this Section 4.4, within fifteen (15) days of the receipt Series D Preferred Interests will be given by the Corporation of the Redemption Request, with respect Partnership by mail to the first Redemption Date, and each record holder to be redeemed not less fewer than thirty (30) 30 nor more than 60 days prior to the second date fixed for redemption thereof. For purposes of the calculation of the date of redemption and third Redemption Datesthe dates on which the Call Notice is given, a Call Notice shall be deemed to be given on the Corporation shall day such notice is first mailed by first-class mail, first class postage prepaid, written notice (the “to such holders of Series D Preferred Interests. Each Call Notice shall be addressed to such holders of Redemption”) to each holder of record (at the close of business on the business day preceding the day on which notice is given) of Series D Preferred Stock, Interests at the address last shown on of the holder appearing in the books and records of the Corporation for such holder or given by Partnership. No defect in the holder to Call Notice (ii) In the Corporation, for event that fewer than all the purpose of notifying such holder of the redemption outstanding Series D Preferred Interests are to be effected. The Notice of Redemption shall specify the applicable Redemption Dateredeemed, the number of shares of each series of Series D Preferred Stock held by the holder that the Corporation shall redeem on the Redemption Date specified in the Notice of Redemption, and the place at which payment shall be made, which shall be the principal offices of the Corporation or such other place as shall be mutually agreeable to the Corporation and holders of a majority of the shares of Preferred Stock then outstanding, on an as-converted basis. The Notice of Redemption shall call upon each holder of Preferred Stock to either (i) surrender to the Corporation, in the manner and at the place designated, such holder’s certificate or certificates representing the shares Interests to be redeemed will be selected at the Partnership's discretion. (iii) If the Partnership gives a Call Notice in respect of Series D Preferred Interests, then upon the date fixed for redemption of the Series D Preferred Interests, all rights of the holders of the Series D Preferred Interests so called for redemption will cease, except the right of the holders of such securities to receive the Call Price. In the event that any date fixed for redemption of Series D Preferred Interests is not a business day, then payment of the Call Price payable on such date will be made on the next succeeding day which is a business day (and without any interest or (ii) convert other payment in respect of any such Preferred Stock into Common Stock prior to delay), except that, if such business day falls in the applicable Redemption Date next calendar year, such payment will be made on the immediately preceding business day. [THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK.] DESIGNATION OF SERIES E 10% PAYMENT-IN-KIND PREFERRED LIMITED PARTNER INTERESTS This Exhibit 6 constitutes a designation in accordance with the provisions of Section 4.3 above. Subject to Section 4.4 (C), on each Redemption Date, the Corporation shall pay the Redemption Price in cash or by check to the order 2.4 of the person whose name appears on Second Amended and Restated Agreement of Limited Partnership (the certificate or certificates "Agreement"). This designation authorizes the issuance of Series E 10% Payment- in-Kind Preferred Limited Partner Interests of the Preferred Stock that (i) shall Partnership under the terms set forth below. The defined terms used but not have been converted pursuant to Section 4.3 hereof and (ii) defined in this Exhibit 6 shall have been surrendered to the Corporation meaning ascribed thereto in the manner and at the place designated in the Notice of Redemption and thereupon each surrendered certificate shall be canceledAgreement.

Appears in 1 contract

Sources: Limited Partnership Agreement (SFG Capital Corp)

Redemption Procedure. Subject (i) Notice of any redemption pursuant to subsection this Section 9 (Aa "Call Notice") of this Section 4.4, within fifteen (15) days of the receipt Series C Preferred Interests will be given by the Corporation of the Redemption Request, with respect Partnership by mail to the first Redemption Date, and each record holder to be redeemed not less fewer than thirty (30) 30 nor more than 60 days prior to the second date fixed for redemption thereof. For purposes of the calculation of the date of redemption and third Redemption Datesthe dates on which the Call Notice is given, a Call Notice shall be deemed to be given on the Corporation shall day such notice is first mailed by first-class mail, first class postage prepaid, written notice (the “to such holders of Series C Preferred Interests. Each Call Notice shall be addressed to such holders of Redemption”) to each holder of record (at the close of business on the business day preceding the day on which notice is given) of Series C Preferred Stock, Interests at the address last shown on of the holder appearing in the books and records of the Corporation for such holder Partnership. No defect in the Call Notice or given by in the holder to mailing thereof or publication of its contents shall affect the Corporation, for the purpose of notifying such holder validity of the redemption proceedings. (ii) In the event that fewer than all the outstanding Series C Preferred Interests are to be effected. The Notice of Redemption shall specify the applicable Redemption Dateredeemed, the number of shares of each series of Series C Preferred Stock held by the holder that the Corporation shall redeem on the Redemption Date specified in the Notice of Redemption, and the place at which payment shall be made, which shall be the principal offices of the Corporation or such other place as shall be mutually agreeable to the Corporation and holders of a majority of the shares of Preferred Stock then outstanding, on an as-converted basis. The Notice of Redemption shall call upon each holder of Preferred Stock to either (i) surrender to the Corporation, in the manner and at the place designated, such holder’s certificate or certificates representing the shares Interests to be redeemed will be selected at the Partnership's discretion. (iii) If the Partnership gives a Call Notice in respect of Series C Preferred Interests, then upon the date fixed for redemption of the Series C Preferred Interests, all rights of the holders of the Series C Preferred Interests so called for redemption will cease, except the right of the holders of such securities to receive the Call Price. In the event that any date fixed for redemption of Series C Preferred Interests is not a business day, then payment of the Call Price payable on such date will be made on the next succeeding day which is a business day (and without any interest or (ii) convert other payment in respect of any such Preferred Stock into Common Stock prior to delay), except that, if such business day falls in the applicable Redemption Date next calendar year, such payment will be made on the immediately preceding business day. [THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK.] DESIGNATION OF SERIES D 9 1/2% PREFERRED LIMITED PARTNER INTERESTS This Exhibit 5 constitutes a designation in accordance with the provisions of Section 4.3 above. Subject to Section 4.4 (C), on each Redemption Date, the Corporation shall pay the Redemption Price in cash or by check to the order 2.4 of the person whose name appears on Second Amended and Restated Agreement of Limited Partnership (the certificate or certificates "Agreement"). This designation authorizes the issuance of Series D 9 1/2% Preferred Limited Partner Interests of the Preferred Stock that (i) shall Partnership under the terms set forth below. The defined terms used but not have been converted pursuant to Section 4.3 hereof and (ii) defined in this Exhibit 5 shall have been surrendered to the Corporation meaning ascribed thereto in the manner and at the place designated in the Notice of Redemption and thereupon each surrendered certificate shall be canceledAgreement.

Appears in 1 contract

Sources: Limited Partnership Agreement (SFG Capital Corp)