Redemption Request. If an Event of default has occurred as a result of failure by the Fund to perform its obligations under Section f2.04(j) of the Insurance Agreement, Financial Security intends to submit a Redemption Request pursuant to section 5.02(b) of the Insurance Agreement requesting the Fund to redeem all outstanding shares of Preferred stock, designating a date for such redemption no later than the second Dividend Payment Date following the date of delivery of such Redemption Request to the Fund.
Appears in 2 contracts
Sources: Broker Dealer Agreement (Prospect Street High Income Portfolio Inc), Insurance Agreement (Prospect Street High Income Portfolio Inc)