Common use of Cash Dividends or Distributions Clause in Contracts

Cash Dividends or Distributions. If any cash dividend or distribution (other than a distribution as to which an adjustment to the Conversion Rate was effected pursuant to Section 8.05(e)) is made to all or substantially all holders of the Common Stock, the Conversion Rate will be increased based on the following formula: where: CR0 = the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such dividend or distribution; CR1 = the Conversion Rate in effect immediately after the Open of Business on the Ex-Dividend Date for such dividend or distribution; SP0 = the Last Reported Sale Price per share of the Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution; and C = the amount in cash per share the Company distributes to holders of Common Stock. Such adjustment shall become effective immediately after the Open of Business on such Ex-Dividend Date. Notwithstanding the foregoing, if “C” (as defined above) is equal to or greater than “SP0” (as defined above), in lieu of the foregoing increase, the Holder will receive, for each $1,000 principal amount of this Note outstanding on the record date for such cash dividend or distribution, at the same time and upon the same terms as holders of the Common Stock, the amount of cash that the Holder would have received if the Holder had owned a number of shares of Common Stock equal to the Conversion Rate in effect on such record date (or in the case of a principal amount or portion of a principal amount that is not a multiple of $1,000, an equivalent pro rata number of shares). If any dividend or distribution of the type described in this Section 10.05(d) is declared but not so paid or made, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect if such dividend or distribution had not been declared.

Appears in 3 contracts

Samples: Note Purchase Agreement (Xtant Medical Holdings, Inc.), Note Purchase Agreement (Xtant Medical Holdings, Inc.), Note Purchase Agreement (Xtant Medical Holdings, Inc.)

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Cash Dividends or Distributions. If any cash dividend or distribution (other than a distribution as to which an adjustment to the Conversion Rate was effected pursuant to Section 8.05(e)) hereof) is made to all or substantially all holders of the Common Stock, the Conversion Rate will be increased based on the following formula: where: CR0 = the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such dividend or distribution; CR1 = the Conversion Rate in effect immediately after the Open of Business on the Ex-Dividend Date for such dividend or distribution; SP0 = the Last Reported Sale Price per share of the Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution; and C = the amount in cash per share the Company distributes to holders of Common Stock. Such adjustment shall become effective immediately after the Open of Business on such Ex-Dividend Date. Notwithstanding the foregoing, if “C” (as defined above) is equal to or greater than “SP0” (as defined above), in lieu of the foregoing increase, the Holder will receive, for each $1,000 principal amount of this Note outstanding on the record date for such cash dividend or distribution, at the same time and upon the same terms as holders of the Common Stock, the amount of cash that the Holder would have received if the Holder had owned a number of shares of Common Stock equal to the Conversion Rate in effect on such record date (or in the case of a principal amount or portion of a principal amount that is not a multiple of $1,000, an equivalent pro rata number of shares). If any dividend or distribution of the type described in this Section 10.05(d) is declared but not so paid or made, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect if such dividend or distribution had not been declared.

Appears in 2 contracts

Samples: Note Purchase Agreement (Xtant Medical Holdings, Inc.), Note Purchase Agreement (Xtant Medical Holdings, Inc.)

Cash Dividends or Distributions. If any cash dividend or distribution (other than a distribution as to which an adjustment to the Conversion Rate was effected pursuant to Section 8.05(e)) is made to all or substantially all holders of the Common Stock, then the Conversion Rate will be increased based on the following formula: where: CR0 = the Conversion Rate in effect immediately prior to before the Open of Business on the Ex-Dividend Date for such dividend or distribution; CR1 = the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date; SP = the Last Reported Sale Price per share of Common Stock on the Trading Day immediately before such Ex-Dividend Date; and ASIA-DOCS\12847562.6 DRAFT 076267-0001 D = the cash amount distributed per share of Common Stock in such dividend or distribution; Any increase pursuant to this Section 2.8(d)(iv) shall become effective immediately after the Open of Business on the Ex-Dividend Date for such dividend or distribution; SP0 = the Last Reported Sale Price per share . If D is equal to or greater than SP, then, in lieu of the Common Stock foregoing adjustment to the Conversion Rate, each Purchaser will receive, for each $1,000 principal amount of Notes (including, for the avoidance of doubt, any PIK Interest paid with respect thereto) held by such Purchaser on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution; and C = the amount in cash per share the Company distributes to holders of Common Stock. Such adjustment shall become effective immediately after the Open of Business on such Ex-Dividend Date. Notwithstanding the foregoing, if “C” (as defined above) is equal to or greater than “SP0” (as defined above), in lieu of the foregoing increase, the Holder will receive, for each $1,000 principal amount of this Note outstanding on the record date for such cash dividend or distribution, at the same time and upon on the same terms as holders of the Common Stock, the amount of cash that the Holder such Purchaser would have received if the Holder such Purchaser had owned owned, on such Ex-Dividend Date, a number of shares of Common Stock equal to the Conversion Rate in effect on such record date (or in Ex-Dividend Date. To the case of a principal amount or portion of a principal amount that is not a multiple of $1,000, an equivalent pro rata number of shares). If any extent such dividend or distribution of the type described in this Section 10.05(d) is declared but not so paid made or madepaid, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect if such had the adjustment been made on the basis of only the dividend or distribution had not been declareddistribution, if any, actually made or paid.

Appears in 1 contract

Samples: Restructuring Support Agreement (5E Advanced Materials, Inc.)

Cash Dividends or Distributions. If any cash dividend or distribution (other than a distribution as to which an adjustment to the Conversion Rate was effected pursuant to Section 8.05(e)) is made to all or substantially all holders of the Common Stock, the Conversion Rate will be increased based on the following formula: where: CR0 = the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such dividend or distribution; CR1 = the Conversion Rate in effect immediately after the Open of Business on the Ex-Dividend Date for such dividend or distribution; SP0 = the Last Reported Sale Price per share of the Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution; and C = the amount in cash per share the Company distributes to holders of Common Stock. Such adjustment shall become effective immediately after the Open of Business on such Ex-Dividend Date. Notwithstanding the foregoing, if “C” (as defined above) is equal to or greater than “SP0” (as defined above), in lieu of the foregoing increase, the Holder will receive, for each $1,000 principal amount of this Note outstanding on the record date for such cash dividend or distribution, at the same time and upon the same terms as holders of the Common Stock, the amount of cash that the Holder would have received if the Holder had owned a number of shares of Common Stock equal to the Conversion Rate in effect on such record date (or in the case of a principal amount or portion of a principal amount that is not a multiple of $1,000, an equivalent pro rata number of shares). If any dividend or distribution of the type described in this Section 10.05(d) is declared but not so paid or made, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect if such dividend or distribution had not been declared.

Appears in 1 contract

Samples: Note Purchase Agreement (Xtant Medical Holdings, Inc.)

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Cash Dividends or Distributions. If any cash dividend or distribution (other than a distribution as to which an adjustment to the Conversion Rate was effected pursuant to Section 8.05(e)) is made to all or substantially all holders of the Class A Common Stock, then the Conversion Rate will be increased based on the following formula: CR1 = CR0 × SP where: CR0 = the Conversion Rate in effect immediately prior to before the Open of Business on the Ex-Dividend Date for such dividend or distribution; CR1 = the Conversion Rate in effect immediately after the Open of Business on the such Ex-Dividend Date for such dividend or distributionDate; SP0 SP = the Last Reported Sale Price per share of the Class A Common Stock on the Trading Day immediately preceding the before such Ex-Dividend Date for Date; and D = the cash amount distributed per share of Class A Common Stock in such dividend or distribution; and C = the amount in cash per share the Company distributes to holders of Common Stock. Such adjustment shall become effective immediately after the Open of Business on such Ex-Dividend Date. Notwithstanding the foregoingprovided, however, that if “C” (as defined above) D is equal to or greater than “SP0” (as defined above)SP, then, in lieu of the foregoing increaseadjustment to the Conversion Rate, the each Holder will receive, for each $1,000 principal amount of this Note outstanding Notes held by such Holder on the record date for such cash dividend or distribution, at the same time and upon on the same terms as holders of the Class A Common Stock, the amount of cash that the such Holder would have received if the such Holder had owned owned, on such record date, a number of shares of Class A Common Stock equal to the Conversion Rate in effect on such record date (or date. For the avoidance of doubt, each adjustment to the Conversion Rate made pursuant to this Section 5.05(A)(iv) will become effective at the time set forth in the case definition of a principal amount or portion of a principal amount that is not a multiple of $1,000, an equivalent pro rata number of shares)CR1 above. If any To the extent such dividend or distribution of the type described in this Section 10.05(d) is declared but not so paid made or madepaid, the Conversion Rate will be readjusted readjusted, effective as of the date the Board of Directors determines not to make such dividend or determination, to the Conversion Rate that would then be in effect if such dividend or distribution had not been declared.

Appears in 1 contract

Samples: Indenture (Better Home & Finance Holding Co)

Cash Dividends or Distributions. If any cash dividend or distribution (other than a distribution as to which an adjustment to the Conversion Rate was effected pursuant to Section 8.05(e)) is made to all or substantially all holders of the Common Stock, then the Conversion Rate will be increased based on the following formula: where: CR0 = the Conversion Rate in effect immediately prior to before the Open of Business on the Ex-Dividend Date for such dividend or distribution; CR1 = the Conversion Rate in effect immediately after the Open of Business on the such Ex-Dividend Date for such dividend or distributionDate; SP0 SP = the Last Reported Sale Price per share of the Common Stock on the Trading Day immediately preceding the before such Ex-Dividend Date for Date; and D = the cash amount (in U.S. dollars or as converted to U.S. dollars based on the Prevailing Exchange Rate on the Trading Day immediately before such Ex-Dividend Date) distributed per share of Common Stock in such dividend or distribution; and C = the amount in cash per share the Company distributes to holders of Common Stock. Such adjustment shall become effective immediately after the Open of Business on such Ex-Dividend Date. Notwithstanding the foregoingprovided, however, that if “C” (as defined above) D is equal to or greater than “SP0” (as defined above)SP, then, in lieu of the foregoing increaseadjustment to the Conversion Rate, the each Holder will receive, for each $1,000 principal amount of this Note outstanding Notes held by such Holder on the record date for such cash dividend or distribution, at the same time and upon on the same terms as holders of the Common Stock, the amount of cash that the such Holder would have received if the such Holder had owned owned, on such record date, a number of shares of Common Stock equal to the Conversion Rate in effect on such record date (or in date. To the case of a principal amount or portion of a principal amount that is not a multiple of $1,000, an equivalent pro rata number of shares). If any extent such dividend or distribution of the type described in this Section 10.05(d) is declared but not so paid made or madepaid, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect if such had the adjustment been made on the basis of only the dividend or distribution, if any, actually made or paid. The Company shall not make any distribution had not been declaredthat would require an adjustment pursuant to this Section 5.05(A)(iii)(2) unless it receives approval from the TSX for such distribution and Conversion Rate adjustment prior to the date such adjustment would become effective. For the avoidance of doubt, each adjustment to the Conversion Rate made pursuant to this Section 5.05(A)(iv) will become effective at the time set forth in the definition of CR1 above.

Appears in 1 contract

Samples: Indenture (Ceridian HCM Holding Inc.)

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