Additional Remuneration. In the event that Vale makes any cash distributions to holders of its ADSs, the Company shall pay to Holders an amount in U.S. dollars equal to any cash distributions (net of any applicable withholding tax and fees) paid by the ADS Depositary to a U.S. Holder of one ADS, multiplied by the number of ADSs that would be received upon conversion of the Notes at the Maximum Conversion Rate (the resulting amounts, the “Additional Remuneration”). For purposes of this Section 2.2(e), cash distributions include distributions in the form of interest on capital under Brazilian law. Subject to Section 2.4(d), the Additional Remuneration will be payable to Holders as of the record date for the related cash distribution on the ADSs, and such payments will be made to such Record Holders on the payment date of the related cash distribution. Promptly following the Company’s determination that Holders will be entitled to receive any Additional Remuneration, the Company will notify the Trustee and issue a press release through Dow Xxxxx & Company, Inc., PR Newswire, Business Wire or Bloomberg Business News (or, if such organizations are not in existence at the time of issuance of such press release, such other news or press organization as is reasonably calculated to broadly disseminate the relevant information to the public) containing the relevant information (a “Press Release”).
Appears in 4 contracts
Samples: Second Supplemental Indenture (Vale S.A.), First Supplemental Indenture (Vale S.A.), Second Supplemental Indenture (Vale S.A.)
