Redemption upon Liquidation Sample Clauses

The 'Redemption upon Liquidation' clause defines the rights and procedures for redeeming securities or interests in a company if the company undergoes liquidation. Typically, this clause outlines the order and method by which investors or shareholders can reclaim their invested capital or receive payment from the remaining assets after debts are settled. For example, preferred shareholders may be entitled to receive their original investment back before any distributions are made to common shareholders. The core function of this clause is to provide clarity and fairness in distributing proceeds during liquidation, ensuring that stakeholders understand their entitlements and reducing disputes over asset allocation.
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Redemption upon Liquidation. (a) In the event of any Liquidation, the Company shall redeem all (but not less than all) of the then outstanding PECs at a price equal to the Base Redemption Price. (b) Any payment to the Holders required by 3.3(a) shall only be made (i) before any payment is made to the holders of Subordinated Securities but (ii) after the payment by the Company of all of its other obligations and only to the extent that the Company’s cash flow position allows for such payment and the Company has sufficient funds available after payment of all of its other obligations to senior or subordinate creditors, whether privileged, secured or unsecured, ranking prior to the PECs. (c) For purposes of this Clause 3.3, the voluntary sale, conveyance, transfer or exchange (for cash, shares, stock, securities or other consideration) of all or substantially all the assets of the Company shall not be deemed to be a Liquidation, unless such voluntary sale, conveyance, transfer or exchange shall be in connection with a dissolution or winding up of the business of the Company.
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Redemption upon Liquidation. 4.3.1 In the event of any Liquidation of the Company, the Holders shall be entitled to be paid a liquidation value equal to the sum of (i) the Par Value for each outstanding PEC, plus (ii) the unpaid Yield accrued through the date fixed for such Liquidation (whether or not previously declared by the Board of Managers), but before any payment shall be made or any assets distributed to the holders of any Subordinated Securities but only to the extent the Company has funds available after payment of all of its other obligations. 4.3.2 The Company shall not commence a voluntary Liquidation without the consent of the Holders of the PECs unless the Company, after payment of all its liabilities to all other creditors, including trade creditors, will have sufficient funds to pay the amounts described in sections 4.3.1 (i) and (ii) above in full. 4.3.3 For purposes of this section 4.3, neither the voluntary sale, conveyance, exchange or transfer (for cash, shares, stock, securities or other consideration) of all or substantially all the property or assets of the Company nor the consolidation or merger of the Company with one or more companies shall be deemed to be a Liquidation unless such voluntary sale, conveyance, exchange or transfer shall be in connection with a dissolution or winding up of the business of the Company.
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Related to Redemption upon Liquidation

  • Termination Upon Repurchase or Liquidation of All Mortgage Loans............................................ SECTION 9.02

  • Distributions Upon Liquidation Proceeds from a Terminating Capital Transaction and any other cash received or reductions in reserves made after commencement of the liquidation of the Partnership shall be distributed to the Partners in accordance with Section 13.2.

  • Payment Upon Redemption (a) If the giving of notice of redemption shall have been completed as above provided, the Securities or portions of Securities of the series to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with interest accrued to the date fixed for redemption and interest on such Securities or portions of Securities shall cease to accrue on and after the date fixed for redemption, unless the Company shall default in the payment of such redemption price and accrued interest with respect to any such Security or portion thereof. On presentation and surrender of such Securities on or after the date fixed for redemption at the place of payment specified in the notice, said Securities shall be paid and redeemed at the applicable redemption price for such series, together with interest accrued thereon to the date fixed for redemption (but if the date fixed for redemption is an interest payment date, the interest installment payable on such date shall be payable to the registered holder at the close of business on the applicable record date pursuant to Section 2.03). (b) Upon presentation of any Security of such series that is to be redeemed in part only, the Company shall execute and the Trustee shall authenticate and the office or agency where the Security is presented shall deliver to the holder thereof, at the expense of the Company, a new Security of the same series of authorized denominations in principal amount equal to the unredeemed portion of the Security so presented.

  • Optional Redemption upon Equity Offerings At any time, or from time to time, prior to June 1, 2010, the Company may, at its option, use an amount not to exceed the net cash proceeds of one or more Equity Offerings to redeem up to 35% of the aggregate principal amount of the Notes (which includes Additional Notes, if any) originally issued under this Indenture at a redemption price of 110.500% of the aggregate principal amount thereof, plus accrued and unpaid interest thereon, to the Redemption Date; provided that: (1) at least 65% of the principal amount of Notes (which includes Additional Notes, if any) originally issued under this Indenture remains outstanding immediately after any such redemption; and (2) the Company makes such redemption not more than 120 days after the consummation of any such Equity Offering.

  • Termination upon Liquidation or Purchase of the Mortgage Loans Subject to Section 9.03, the obligations and responsibilities of the Depositor, the Master Servicer, and the Trustee created hereby shall terminate upon the earlier of (a) the purchase by the Master Servicer of all Mortgage Loans (and REO Properties) at the price equal to the sum of (i) 100% of the Stated Principal Balance of each Mortgage Loan (other than in respect of a Delinquent Mortgage Loan or REO Property) plus one month's accrued interest thereon at the applicable Adjusted Mortgage Rate less any amounts collected by the Master Servicer representing principal and interest due after the related Due Date, (ii) the lesser of (x) the appraised value of any Delinquent Mortgage Loan or REO Property as determined by the higher of two appraisals completed by two independent appraisers selected by the Master Servicer at the expense of the Master Servicer and (y) the Stated Principal Balance of each such Delinquent Mortgage Loan or Mortgage Loan related to such REO Property, in each case plus accrued and unpaid interest thereon at the applicable Adjusted Net Mortgage Rate and (iii) any costs and damages incurred by the Trust Fund in connection with any violation by each Mortgage Loan of any predatory or abusive lending law and (b) the later of (i) the maturity or other liquidation (or any Advance with respect thereto) of the last Mortgage Loan and the disposition of all REO Property and (ii) the distribution to Certificateholders of all amounts required to be distributed to them pursuant to this Agreement. In no event shall the trusts created hereby continue beyond the expiration of 21 years from the death of the survivor of the descendants of ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, the late Ambassador of the United States to the Court of St. James's, living on the date of this Agreement. The right to purchase all Mortgage Loans and REO Properties pursuant to clause (a) above shall be conditioned upon the aggregate Stated Principal Balance of those Mortgage Loans, at the time of any such repurchase, aggregating less than ten percent (10%) of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date. The Master Servicer shall effect any such repurchase by depositing the purchase price, as calculated above, as of the month preceding the date on which such purchase price shall be distributed to Certificateholders into the Certificate Account.