Agreement for Redemption of Preferred Shares Template

This agreement for redemption of preferred shares template has 3 pages and is a MS Word file type listed under our finance & accounting documents.

Sample of our agreement for redemption of preferred shares template:

AGREEMENT FOR REDEMPTION OF PREFERRED SHARES This Agreement for Redemption of Preferred Shares (the "Agreement") is effective [DATE], BETWEEN: [FIRST SHAREHOLDER NAME] (the "First Shareholder"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [SECOND SHAREHOLDER NAME] (the "Second Shareholder"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the "Corporation"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] For good and valuable consideration, the receipt and legal sufficiency of which are hereby expressly acknowledged, the parties hereto agree as follows: RECITALS: WHEREAS, [FIRST SHAREHOLDER] is the registered holder of [NUMBER] [SPECIFY] Shares of the Corporation having a fair market value of [AMOUNT] and of [NUMBER] Class [SPECIFY] shares of the Corporation having a fair market value of [AMOUNT]; WHEREAS, [SECOND SHAREHOLDER] is the registered holder of [NUMBER] [SPECIFY] Shares of the Corporation having a fair market value of [AMOUNT] and of [NUMBER] Class [SPECIFY] shares of of the Corporation having a fair market value of [AMOUNT]; WHEREAS [FIRST SHAREHOLDER] and [SECOND SHAREHOLDER] (collectively, the "Shareholders") are the sole shareholders of the Corporation; WHEREAS, the Corporation and the Shareholders wish to provide for the redemption of the Class [SPECIFY] shares of the Corporation at the request of any holder thereof such that the Class [SPECIFY] shares of the Corporation shall, for all intents and purposes, be considered to be retractable; NOW THEREFORE THIS AGREEMENT WITNESSETH AS FOLLOWS: The Corporation shall henceforth, at the request of any holder thereof, redeem all or part of the Class [SPECIFY] shares then issued and outstanding at any time and from time to time in accordance with the redemption provisions attaching to the Class [SPECIFY] shares, as set out in the Articles of Amalgamation of the Corporation dated [DATE], or as they may be subsequently amended in accordance with the provisions thereof, the whole to the extent permitted by law and as if the said shares were expressly made retractable thereunder. A holder of Class [SPECIFY] shares shall therefore be entitled to require the Corporation to redeem at any time and from time to time after the date of issue of any Class [SPECIFY] shares, upon giving notice as hereinafter provided, all or any number of the Class [SPECIFY] shares registered in the name of such holder on the books of the Corporation at a redemption price per Class [SPECIFY] shares equal to the amount paid up thereon, together with all dividends declared thereon and unpaid (less the amount of any tax which the Corporation is required to and does withhold therefrom).