Common use of Certain Conversions Not Deemed Payment Clause in Contracts

Certain Conversions Not Deemed Payment. For the purposes of this Section 11 only, (a) the issuance and delivery of junior securities upon conversion of the Note in accordance with Section 8 shall not be deemed to constitute a payment or distribution on account of the principal of, premium, if any, or interest on the Note or on account of the purchase or other acquisition of the Note, and (b) the payment, issuance or delivery of cash (except in satisfaction of fractional shares pursuant to Section 8.3), property or securities (other than junior securities) upon conversion of a Note shall be deemed to constitute payment on account of the principal of, premium, if any, or interest on such Note. For the purposes of this Section 11.6, the term "

Appears in 2 contracts

Samples: Note Purchase Agreement (American Home Products Corp), Note Purchase Agreement (Immunex Corp /De/)

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Certain Conversions Not Deemed Payment. For the purposes of this Section 11 Article 13 only, (a1) the issuance and delivery of junior securities upon conversion of the Note Notes in accordance with Section 8 Article 12 [conversion] shall not be deemed to constitute a payment or distribution on account of the principal of, premium, if any, or interest (including Liquidated Damages, if any) on the Note Notes or on account of the purchase or other acquisition of the NoteNotes, and (b2) the payment, issuance or delivery of cash (except in satisfaction of fractional shares pursuant to Section 8.312.3), property or securities (other than junior securities) upon conversion of a Note shall be deemed to constitute payment on account of the principal of, premium, if any, or interest (including Liquidated Damages, if any) on such Note. For the purposes of this Section 11.613.10, the term "

Appears in 2 contracts

Samples: Credit Agreement (Lsi Logic Corp), Credit Agreement (Lsi Logic Corp)

Certain Conversions Not Deemed Payment. For the purposes of this Section 11 Article 6 only, (a1) the issuance and delivery of junior securities upon conversion of the Note Notes in accordance with Section 8 Article 6 shall not be deemed to constitute a payment or distribution on account of the principal of, premium, if any, or interest (including Liquidated Damages, if any) on the Note Notes or on account of the purchase or other acquisition of the NoteNotes, and (b2) the payment, issuance or delivery of cash (except in satisfaction of fractional shares pursuant to Section 8.35.5), property or securities (other than junior securities) upon conversion of a Note shall be deemed to constitute payment on account of the principal of, premium, if any, or interest (including Liquidated Damages, if any) on such Note. For the purposes of this Section 11.66.15, the term "

Appears in 1 contract

Samples: Registration Rights Agreement (P Com Inc)

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Certain Conversions Not Deemed Payment. For the purposes of this Section 11 Article 6 only, (a1) the issuance and delivery of junior securities upon conversion of the Note Notes in accordance with Section 8 Article 5 shall not be deemed to constitute a payment or distribution on account of the principal of, premium, if any, or interest (including Liquidated Damages, if any) on the Note Notes or on account of the purchase or other acquisition of the NoteNotes, and (b2) the payment, issuance or delivery of cash (except in satisfaction of fractional shares pursuant to Section 8.35.3), property or securities (other than junior securities) upon conversion of a Note shall be deemed to constitute payment on account of the principal of, premium, if any, or interest (including Liquidated Damages, if any) on such Note. For the purposes of this Section 11.66.15, the term "

Appears in 1 contract

Samples: P Com Inc

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