Ohio Sample Redemption Agreement - Executive Stock Purchase Agreement of Pic N Save Corp.
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FAQ
A REDEMPTION AGREEMENT ALLOWS A DEPARTING SHAREHOLDER, PARTNER OR LLC MEMBER TO SELL OUT THEIR INTEREST IN THE BUSINESS TO THE COMPANY INSTEAD OF THEIR CO-OWNER. Another common type of buy-sell agreement is the ?stock redemption? agreement.
The redemption rights clause gives the owner of a property the right to reclaim his/her property during a foreclosure auction. The clause is often included in a mortgage agreement. Redemption rights allow the borrower to prevent foreclosure on the property by paying all liens or back taxes on the property.
Another common type of buy-sell agreement is the ?stock redemption? agreement. This is an agreement between shareholders in a company that states when a shareholder leaves the business, whether it be due to retirement, disability, death, or other reason, the departing members shares will be bought by the company.
The redemption rights clause gives the owner of a property the right to reclaim his/her property during a foreclosure auction. The clause is often included in a mortgage agreement. Redemption rights allow the borrower to prevent foreclosure on the property by paying all liens or back taxes on the property.
Redemption Notice means a notice in a form approved by the Company by which a holder of Public Shares is entitled to require the Company to redeem its Public Shares, subject to any conditions contained therein.