Cash Conversion Option. (a) If a Holder elects to convert all or any portion of a Security into shares of Applicable Stock as set forth in Section 4.1 and the Company receives such Holder's Notice of Conversion on or prior to the day that is 20 days prior to the Final Maturity Date (the "Final Notice Date"), the Company shall satisfy its Conversion Obligation in cash; provided that if, in the determination of the Company, the Conversion Settlement Distribution (as determined below) is expected to exceed the aggregate principal amount of the Securities to be converted, the Company may choose to deliver shares of Applicable Stock to the extent (and only to the extent) that the Conversion Settlement Distribution (as finally determined) exceeds the aggregate principal amount of Securities actually converted. Upon such election, the Company will notify such Holder through the Trustee of the dollar amount to be satisfied in cash (which must be expressed either as 100% of the Conversion Obligation or as a fixed dollar amount) at any time on or before the date that is two Business Days following the Company's receipt of such Holder's Notice of Conversion as specified in Section 4.2 (such period, the "Cash Settlement Notice Period"). The Holder may retract such Holder's Notice of Conversion at any time during the two Business Day period beginning on the day after the final day of the Cash Settlement Notice Period (the "Conversion Retraction Period"). With respect to any Notice of Conversion received by the Company prior to the Final Notice Date, the "Conversion Settlement Distribution" for any Security subject to such Notice of Conversion shall consist of cash or a combination of cash and Applicable Stock, as set forth below:
Appears in 2 contracts
Samples: First Supplemental Indenture (Symantec Corp), First Supplemental Indenture (Veritas Software Corp /De/)
Cash Conversion Option. (a) If a Holder elects to convert all or any portion of a Security into shares of Applicable Stock as set forth in Section 4.1 and the Company receives such Holder's Notice of Conversion on or prior to the day that is 20 days prior to the Final Maturity Date (the "Final Notice Date"), the Company shall may choose to satisfy all or any portion of its Conversion Obligation in cash; provided that if, in the determination of the Company, the Conversion Settlement Distribution (as determined below) is expected to exceed the aggregate principal amount of the Securities to be converted, the Company may choose to deliver shares of Applicable Stock to the extent (and only to the extent) that the Conversion Settlement Distribution (as finally determined) exceeds the aggregate principal amount of Securities actually converted. Upon such election, the Company will notify such Holder through the Trustee of the dollar amount to be satisfied in cash (which must be expressed either as 100% of the Conversion Obligation or as a fixed dollar amount) at any time on or before the date that is two Business Days following the Company's receipt of such Holder's Notice of Conversion as specified in Section 4.2 (such period, the "Cash Settlement Notice Period"). The If the Company elects to pay cash for any portion of the shares otherwise issuable to the Holder, the Holder may retract such Holder's Notice of Conversion at any time during the two Business Day period beginning on the day after the final day of the Cash Settlement Notice Period (the "Conversion Retraction Period"); no such retraction can be made (and a Notice of Conversion shall be irrevocable) if the Company does not elect to deliver cash in lieu of shares of Applicable Stock (other than cash in lieu of fractional shares). With respect to any Notice of Conversion received by the Company prior to the Final Notice Date, the "Conversion Settlement Distribution" for any Security subject to such Notice of Conversion shall consist of cash cash, Applicable Stock or a combination of cash and Applicable Stockthereof, as selected by the Company as set forth below:
Appears in 2 contracts
Samples: Indenture (Symantec Corp), Indenture (Veritas Software Corp /De/)
Cash Conversion Option. (a) If a Holder elects to convert all or any portion of a Security into shares of Applicable Common Stock as set forth in Section 4.1 and the Company receives Obligors receive such Holder's Notice of Conversion on or prior to the day that is 20 days prior to the Final Maturity Date with respect to either series of Securities or, if all or a portion of the 4.0% Notes due 2013 have been called for redemption, the date that is 20 days prior to the Redemption Date (in either case, the "Final Notice Date"), the Company shall Obligors may choose to satisfy its all or any portion of the Conversion Obligation in cash; provided that if, in the determination of the Company, the Conversion Settlement Distribution (as determined below) is expected to exceed the aggregate principal amount of the Securities to be converted, the Company may choose to deliver shares of Applicable Stock to the extent (and only to the extent) that the Conversion Settlement Distribution (as finally determined) exceeds the aggregate principal amount of Securities actually converted. Upon such election, the Company Obligors will notify such the Trustee, the Holder through the Trustee and the Initial Purchasers (in the manner provided in Section 12.2), of the dollar amount to be satisfied in cash (which must be expressed either as 100% of the Conversion Obligation or as a fixed dollar amount) at any time on or before the date that is two Business Days following the Company's Obligors' receipt of such Holder's Notice of Conversion as specified in Section 4.2 (such period, the "Cash Settlement Notice Period"). The If the Obligors elect to pay cash for any portion of the shares otherwise issuable to the Holder, the Holder may retract such Holder's Notice of Conversion at any time during the two Business Day period beginning on the day after the final day of the Cash Settlement Notice Period (the "Conversion Retraction Period"); no such retraction can be made after the Cash Settlement Notice Period (and a Notice of Conversion shall be irrevocable) if the Obligors do not elect to deliver cash in lieu of shares of Common Stock (other than cash in lieu of fractional shares). Upon the expiration of the Conversion Retraction Period, a Notice of Conversion shall be irrevocable. With respect to any Notice of Conversion received by the Company Obligors prior to the Final Notice Date, the "Conversion Settlement Distribution" for any Security subject to such Notice of Conversion shall consist of cash cash, Common Stock or a combination of cash and Applicable Stockthereof, as selected by the Obligors as set forth below:
Appears in 2 contracts
Samples: Valeant Pharmaceuticals International, Inc., Valeant Pharmaceuticals International
Cash Conversion Option. (a) If a Holder elects to convert all or any portion of a Security Note into shares of Applicable Common Stock as set forth in Section 4.1 Sections 2.01 and the Company receives such Holder's Notice of Conversion on or prior to the day that is 20 days prior to the Final Maturity Date (the "Final Notice Date"), the Company shall satisfy its Conversion Obligation in cash; provided that if, in the determination of the Company, the Conversion Settlement Distribution (as determined below) is expected to exceed the aggregate principal amount of the Securities to be converted2.02, the Company may choose to deliver shares satisfy all or any portion of Applicable Stock its conversion obligation (the "Conversion Obligation") in cash. If the Company elects to satisfy all or any portion of its Conversion Obligation in cash at any time other than following the extent (and only to delivery of a notice of redemption or within 20 days of the extent) that the Conversion Settlement Distribution (as finally determined) exceeds the aggregate principal amount of Securities actually converted. Upon such electionStated Maturity, the Company will notify such Holder through the Trustee of the dollar amount to be satisfied in cash (which must be expressed either as 100% of the Conversion Obligation or as a fixed dollar amount) at any time on or before the date that is two Business Days following the Company's receipt of such Holder's Notice written notice of Conversion conversion as specified in Section 4.2 Sections 2.01 and 2.02 (such period, the "Cash Settlement Notice Period"). The If the Company elects to pay cash for any portion of the shares otherwise issuable to the Holder, the Holder may retract such Holder's Notice of Conversion the conversion notice at any time during the two Business Day period beginning on the day after the final day of the Cash Settlement Notice Period (the a "Conversion Retraction Period"). With respect to any Notice of Conversion received by ; no such retraction can be made (and a conversion notice shall be irrevocable) if the Company does not elect to deliver cash in lieu of shares (other than cash in lieu of fractional shares). If the conversion notice has not been retracted, then settlement (in cash and/or shares) will occur on the Business Day following the final day of the 10 Trading Day period beginning on the day after the final day of the Conversion Retraction Period (the "Cash Settlement Averaging Period"). Cash to be paid in the event of the election to pay all or a portion of the Conversion Obligation in cash will be the product obtained by multiplying (x) the number of shares the Holders would have been entitled had the Company elected to pay all or such specified percentage, as the case may be of the Conversion Obligation in cash and (y) the Market Price of a share of Common Stock. Notwithstanding the foregoing, a Security in respect of which a Holder has delivered a Purchase Notice or Change of Control Purchase Notice exercising such Holder's option to require the Company to repurchase such Security may be converted as described in Sections 2.01 and 2.02 or this Section 2.13 only if such notice of exercise is withdrawn in accordance with Sections 4.01 and 4.02 hereof. If a Holder elects to convert all or any portion of a Note into shares of Common Stock after the Company has delivered a notice of redemption or within 20 days of the Stated Maturity, the Company may choose to satisfy all or any portion of the Conversion Obligation in cash provided the Company notifies such Holder through the Trustee of the dollar amount to be satisfied in cash (which must be expressed either as 100% of the Conversion Obligation or as a fixed dollar amount) at any time on or before the date that is 20 days prior to Stated Maturity or Redemption Date. Cash settlement amounts will be computed in the Final Notice Date, the "Conversion Settlement Distribution" for any Security subject to such Notice of Conversion shall consist of cash or a combination of cash and Applicable Stock, same manner as set forth below:above in this Section 2.13(a).
Appears in 1 contract
Samples: Supplemental Indenture (HCC Insurance Holdings Inc/De/)
Cash Conversion Option. (a) If a Holder elects to convert all or any portion of a Security Note into shares of Applicable Common Stock as set forth in Section 4.1 12.1 and the Company receives such Holder's Notice of Conversion on or prior to the day that is 20 days prior to the Final Stated Maturity Date (the "Final Notice DateFINAL NOTICE DATE"), the Company shall satisfy its Conversion Obligation in cash; provided that if, in the determination of the Company, the Conversion Settlement Distribution (as determined below) is expected to exceed the aggregate principal amount of the Securities to be converted, the Company may choose to deliver shares satisfy all or any portion of Applicable Stock to the extent (and only to the extent) that the its Conversion Settlement Distribution (as finally determined) exceeds the aggregate principal amount of Securities actually convertedObligation in cash. Upon such election, the Company will notify such Holder through the Trustee of the dollar amount to be satisfied in cash (which must be expressed either as 100% of the Conversion Obligation or as a fixed dollar amount) at any time on or before the date that is two Business Days following the Company's receipt of such Holder's Notice of Conversion as specified in Section 4.2 12.2 (such period, the "Cash Settlement Notice PeriodCASH SETTLEMENT NOTICE PERIOD"). The If the Company elects to pay cash for any portion of the shares otherwise issuable to the Holder, the Holder may retract such Holder's Notice of Conversion at any time during the two Business Day period beginning on the day after the final day of the Cash Settlement Notice Period (the "CONVERSION RETRACTION PERIOD"); no such retraction can be made (and a Notice of Conversion Retraction Period"shall be irrevocable) if the Company does not elect to deliver cash in lieu of shares of Common Stock (other than cash in lieu of fractional shares). With respect to any Notice of Conversion received by the Company prior to the Final Notice Date, the "Conversion Settlement DistributionCONVERSION SETTLEMENT DISTRIBUTION" for any Security Note subject to such Notice of Conversion shall consist of cash cash, Common Stock or a combination of cash and Applicable Stockthereof, as selected by the Company as set forth below:
Appears in 1 contract
Samples: Indenture (Infocrossing Inc)