Common use of Certain Conversions Not Deemed Payment Clause in Contracts

Certain Conversions Not Deemed Payment. For the purposes of this Article 4 only, (1) the issuance and delivery of Junior Securities upon conversion of Debentures in accordance with Article 16 and (2) the payment, issuance or delivery of cash, property or securities upon conversion of a Debenture as a result of any transaction specified in Section 16.06 shall not be deemed to constitute a payment or distribution on account of the principal of, premium, if any, or Interest on Debentures or on account of the purchase or other acquisition of Debentures. For the purposes of this Section 4.08, the term "JUNIOR SECURITIES" means (a) Common Stock of the Company or (b) securities of the Company that are subordinated in right of payment to all Senior and Senior Subordinated Indebtedness that may be outstanding at the time of issuance or delivery of such securities to the same extent as, or to a greater extent than, the Debentures are so subordinated as provided in this Article 4. Nothing contained in this Article 4 or elsewhere in this Indenture or in the Debentures is intended to or shall impair, as among the Company, its creditors (other than holders of Senior and Senior Subordinated Indebtedness) and the Debentureholders, the right, which is absolute and unconditional, of the Holder of any Debenture to convert such Debenture in accordance with Article 16.

Certain Conversions Not Deemed Payment. For the purposes of this Article 4 only, (1) the issuance and delivery of Junior Securities upon conversion of Debentures in accordance with Article 16 and (2) the payment, issuance or delivery of cash, property or securities upon conversion of a Debenture as a result of any transaction specified in Section 16.06 shall not be deemed to constitute a payment or distribution on account of the principal of, premium, if any, or Interest interest on Debentures or on account of the purchase or other acquisition of Debentures. For the purposes of this Section 4.08, the term "JUNIOR SECURITIESJunior Securities" means (a) Common Stock of the Company or (b) securities of the Company that are subordinated in right of payment to all Senior and Senior Subordinated Indebtedness that may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Debentures are so subordinated as provided in this Article 4. Nothing contained in this Article 4 or elsewhere in this Indenture or in the Debentures is intended to or shall impair, as among the Company, its creditors (other than holders of Senior and Senior Subordinated Indebtedness) and the Debentureholders, the right, which is absolute and unconditional, of the Holder of any Debenture to convert such Debenture in accordance with Article 16.

Certain Conversions Not Deemed Payment. For the purposes of this Article 4 13 only, : (1a) the issuance and delivery of Junior Securities junior securities upon conversion of Debentures Securities in accordance with Article 16 and (2) the payment, issuance or delivery of cash, property or securities upon conversion of a Debenture as a result of any transaction specified in Section 16.06 12 hereof shall not be deemed to constitute a payment or distribution on account of the principal of, premium, if any, or Interest interest (including Liquidated Damages, if any) on Debentures Securities or on account of the purchase or other acquisition of DebenturesSecurities, and (b) the payment, issuance or delivery of cash (except in satisfaction of fractional shares pursuant to Section 12.3 hereof), property or securities (other than junior securities) upon conversion of a Security shall be deemed to constitute payment on account of the principal of, premium, if any, or interest (including Liquidated Damages, if any) on such Security. For the purposes of this Section 4.0813.11, the term "JUNIOR SECURITIES" means “junior securities” means: (a) Common Stock shares of any common stock of the Company or or (b) other securities of the Company that are subordinated in right of payment to all Senior and Senior Subordinated Indebtedness Debt that may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent thanthat, the Debentures Securities are so subordinated as provided in this Article 4Article. Nothing contained in this Article 4 13 or elsewhere in this Indenture or in the Debentures Securities is intended to or shall impair, as among the Company, its creditors (other than holders of Senior and Senior Subordinated IndebtednessDebt) and the DebentureholdersHolders of Securities, the right, which is absolute and unconditional, of the Holder of any Debenture Security to convert such Debenture Security in accordance with Article 1612 hereof.