Common use of Timing of Redemption Clause in Contracts

Timing of Redemption. In the event of a redemption of either the Series A Preferred Stock or the Series B Preferred Stock pursuant to Section 5.2 or 5.5, upon written notification by the holder(s) of their election to redeem their shares of Preferred Stock, the Company may, no later than fifteen (15) calendar days after receipt of such notice, request that such holder(s) tender to the Company such transmittal or related materials as it may reasonably request. The Company shall consummate the redemption of the tendered shares (including payment for such redeemed shares) no later than (i) 90 days from receipt of notice of redemption from the applicable holder, should the Company not timely request any transmittal materials, or (ii) within 75 days of receipt of requested transmittal materials from the redeeming stockholder. Such holder's election to redeem the Series A Preferred Stock or the Series B Preferred Stock may not be revoked without the written consent of the Company so long as the Company satisfies the redemption preference in full within the time period set forth in this Section 5.8.

Timing of Redemption. In the event of a redemption of either the Series A Preferred Stock or the Series B Preferred Stock pursuant to Section Sections 5.2 or 5.5, upon written notification by the holder(s) of their election to redeem their shares of Preferred Stock, the Company may, no later than fifteen (15) calendar days after receipt of such notice, request that such holder(s) tender to the Company such transmittal or related materials as it may reasonably request. The Company shall consummate the redemption of the tendered shares (including payment for such redeemed shares) no later than (i) 90 days from receipt of notice of redemption from the applicable holder, should the Company not timely request any transmittal materials, or (ii) within 75 days of receipt of requested transmittal materials from the redeeming stockholder. Such holder's election to redeem the Series A Preferred Stock or the Series B Preferred Stock may not be revoked without the written consent of the Company so long as the Company satisfies the redemption preference in full within the time period set forth in this Section 5.8.