Rescission of Redemption Clause Samples

The "Rescission of Redemption" clause allows a party to reverse or cancel a previously initiated redemption of securities or interests. In practice, this means that if a redemption request has been made—such as an investor seeking to withdraw funds from a fund or redeem shares—the process can be halted or undone under certain conditions, often before the transaction is finalized or settled. This clause is important because it provides flexibility to both parties, allowing for corrections in case of errors, changes in circumstances, or mutual agreement, thereby preventing unintended or premature redemptions.
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Rescission of Redemption. In the event that this Section 11.09 is specified to be applicable to a series of Securities pursuant to Section 3.01 and a Redemption Rescission Event shall occur following any day on which a notice of redemption shall have been given pursuant to Section 11.04 hereof but at or prior to the time and date fixed for redemption as set forth in such notice of redemption, the Company may, at its sole option, at any time prior to the earlier of (i) the close of business on that day which is two Trading Days following such Redemption Rescission Event and (ii) the time and date fixed for redemption as set forth in such notice, rescind the redemption to which such notice of redemption shall have related by making a public announcement of such rescission (the date on which such public announcement shall have been made being hereinafter referred to as the “Rescission Date”). The Company shall be deemed to have made such announcement if it shall issue a release to the Dow ▇▇▇▇▇ New Service, Reuters Information Services or any successor news wire service. From and after the making of such announcement, the Company shall have no obligation to redeem Securities called for redemption pursuant to such notice of redemption or to pay the Redemption Price therefor and all rights of Holders of Securities shall be restored as if such notice of redemption had not been given. As promptly as practicable following the making of such announcement, the Company shall telephonically notify the Trustee and the Paying Agent of such rescission. The Company shall give notice of any such rescission by first-class mail, postage prepaid, mailed as promptly as practicable but in no event later than the close of business on that day which is five Trading Days following the Rescission Date to each Holder of Securities at the close of business on the Rescission Date and to the Trustee and the Paying Agent. Each notice of rescission shall (A) state that the redemption described in the notice of redemption has been rescinded and (B) state that such form must be properly completed and received by the Company no later than the close of business on a date that shall be 15 Trading Days following the date of the mailing of such notice of rescission.
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Rescission of Redemption. 84 ARTICLE XII Conversion ----------
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Rescission of Redemption. 81 SECTION 1110. Repayment at the Option of Holders ......................... 82 Contents, p. 5 ARTICLE XII Sinking Funds SECTION 1201. Applicability of Article ................................... 83 SECTION 1202. Satisfaction of Sinking Fund Payments with Securities ............................... 83 SECTION 1203. Redemption of Securities for Sinking Fund ................................................... 84
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Rescission of Redemption. The City may rescind any optional or extraordinary redemption under subsection (A)(i) or (ii) above by written notice to the Fiscal Agent on or prior to the date fixed for redemption. Any notice of redemption shall be cancelled and annulled if for any reason inadequate funds are on deposit in the Redemption Fund 5 days prior to the redemption date, and such cancellation shall not constitute an Event of Default hereunder. The Fiscal Agent shall mail notice of rescission of redemption in the same manner notice of redemption was originally provided.
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Rescission of Redemption. Contents, p. 5
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Related to Rescission of Redemption

  • Effect of Redemption If the Board of Directors elects or is deemed to have elected to redeem the Rights, (i) the right to exercise the Rights will thereupon, without further action and without notice, terminate and the only right thereafter of the holders of Rights shall be to receive the Redemption Price, and (ii) subject to Subsection 5.1(f) no further Rights shall be issued.

  • Waiver of Redemption Tenant hereby waives, for itself and all persons claiming by and under Tenant, all rights and privileges which it might have under any present or future Legal Requirement to redeem the Premises or to continue this Lease after being dispossessed or ejected from the Premises.

  • Mechanics of Redemption (a) In order to redeem any Debentures (in whole or in part), the applicable Holder shall surrender the certificate(s) representing the Debentures to be redeemed, by either overnight courier or two-day courier, to the principal office of the Company, and shall give written notice in the form of EXHIBIT 1 hereto (the "REDEMPTION NOTICE") by facsimile (with the original of such notice forwarded with the foregoing courier) to the Company at such office to the effect that such Holder elects to have redeemed the principal amount of Debentures (plus accrued but unpaid interest thereon) specified therein; provided, however, that the Company shall not be obligated to pay the applicable redemption price unless either the certificate(s) evidencing the Debentures being redeemed is delivered to the Company as provided above, or if the Holder notifies the Company that such certificate(s) has been lost, stolen or destroyed and follows such procedures as are set forth in Paragraph 17. If less than all the principal amount represented by such certificate or certificates are to be redeemed, the Company shall issue and deliver to or on the order of the holder thereof, at the expense of the Company, a new certificate or certificates representing the unredeemed amount, to the same extent as if the certificate theretofore representing such unredeemed principal amount had not been surrendered on redemption. (b) The Company shall use its best efforts to pay the applicable redemption price within three (3) business days after receipt by the Company of the Redemption Notice and such certificate(s) evidencing the principal amount of Debentures being redeemed, or after receipt of such agreement and indemnification set forth in Paragraph 17, to such Holder, together with a certificate, certified by an appropriate officer of the Company, setting forth the calculation of the redemption price (the "REDEMPTION CERTIFICATE") and, if appropriate, a certificate evidencing the principal amount of the Debentures covered by the submitted certificate(s) not submitted for redemption; provided that in the case where more than one Holder submits Debenture certificates for redemption simultaneously and the Company is unable to redeem all of the Debentures submitted for such redemption, the Company shall redeem an amount from each Holder equal to each Holder's pro rata principal amount (based on principal amount of Debentures held by each Holder relative to outstanding) of all Debentures being redeemed. (c) If the Company shall fail to redeem all of the Debentures submitted for redemption (other than pursuant to a dispute as to the calculation of the applicable redemption price), in addition to any remedy each Holder may have under this Debenture, the Subscription Agreement and the Registration Rights Agreement, the applicable redemption price payable in respect of such unredeemed principal amount of Debentures shall bear interest at the rate of 2.0% per month (pro rated for partial periods) until such redemption price is paid in full. Until the Company pays such unpaid redemption price in full to a Holder, such Holder shall have the option, in lieu of redemption, to require the Company to promptly return to such Holder the aggregate principal amount of Debentures submitted for redemption by such Holder and for which the applicable redemption price has not been paid, by sending written notice thereof to the Company via facsimile (a "REVOCATION NOTICE"). Upon the Company's receipt of such Revocation Notice and prior to payment in full of the applicable redemption price to such Holder, (i) the Redemption

  • Form of Redemption Notice Notice of redemption under Section 10.01 shall be given by the Indenture Trustee by first-class mail, postage prepaid, by facsimile mailed or transmitted, by e-mail transmission or by transmission to the Clearing Agency not later than 10 days prior to the applicable Redemption Date to each Holder of Notes, as of the close of business on the Record Date preceding the applicable Redemption Date, at such Holder’s address, facsimile number or e-mail address appearing in the Note Register. All notices of redemption shall state: (a) the Redemption Date; (b) the Redemption Price; (c) the place where such Notes are to be surrendered for payment of the Redemption Price (which shall be the office or agency of the Issuing Entity to be maintained as provided in Section 3.02); and (d) applicable “CUSIP” numbers. Notice of redemption of the Notes shall be given by the Indenture Trustee in the name and at the expense of the Issuing Entity. Failure to give notice of redemption, or any defect therein, to any Holder of any Note shall not impair or affect the validity of the redemption of any other Note.

  • Right of Redemption 93 Section 10.02. Applicability of Article.....................................93 Section 10.03. Election to Redeem; Notice to Trustee........................93 Section 10.04. Selection by Trustee of Notes to Be Redeemed.................93 Section 10.05.