Common use of CONTINGENT ADDITIONAL PRINCIPAL Clause in Contracts

CONTINGENT ADDITIONAL PRINCIPAL. On September 7, 2002 and September 7, 2003, if the Sale Price of the Ordinary Shares is at or below the Ordinary Shares Threshold Price (as set forth in the first column under the schedule below) for at least 20 Trading Days during the Thirty-Trading-Day Measurement Period prior to that date, Contingent Additional Principal shall accrue on the Securities commencing on such date at a rate of either 0.50% or .645% per year, computed on a semiannual bond equivalent basis, on the sum of the issue price plus accrued Original Issue Discount to such date for a period of one year, in accordance with the schedule set forth below: September 7, 2002 -------------------------------------------------------------------------------------------------------- Ordinary Shares Threshold Price Contingent Additional Adjusted Yield (expressed as a percentage of the Accreted Conversion Principal Price of the Securities) -------------------------------------------------------------------------------------------------------- Equal to or less than 69% and .50% 3.375% greater than 65% -------------------------------------------------------------------------------------------------------- Equal to or less than 65% .645% 3.52% -------------------------------------------------------------------------------------------------------- September 7, 2003 ----------------------------------------------------------------------------------- -------------------- Ordinary Shares Threshold Price Contingent Additional Adjusted Yield (expressed as a percentage of the Accreted Conversion Principal Price of the Securities) -------------------------------------------------------------------------------------------------------- Equal to or less than 75% and .50% 3.375% greater than 72% ----------------------------------------------------------------------------------- -------------------- Equal to or less than 72% .645% 3.52% ----------------------------------------------------------------------------------- --------------------

Appears in 1 contract

Samples: Xl Capital LTD

AutoNDA by SimpleDocs

CONTINGENT ADDITIONAL PRINCIPAL. On September 7June 5, 2002 and September 7June 5, 20032004, if the Sale Price of the Ordinary Shares Common Stock is at or below the Ordinary Shares Threshold Price (as set forth in the first column under the schedule below) for at least 20 Trading Days during the Thirty-Trading-Day Measurement Period prior to that date, Contingent Additional Principal on the Notes shall accrue on the Securities commencing on such date at a rate of either 0.50% or .6451.00% per year, computed on a semiannual bond equivalent basis, on the sum of the issue price Issue Price plus accrued Original Issue Discount to such date for a period of one yeartwo years, in accordance with the schedule set forth below: September 7June 5, 2002 -------------------------------------------------------------------------------------------------------- Ordinary Shares ------------------------------------------------------------------------------------------------------------------ Common Stock Threshold Price Contingent Additional Adjusted Yield (expressed as a percentage of the Accreted Contingent Conversion Principal Price of the SecuritiesNotes) -------------------------------------------------------------------------------------------------------- Additional Principal Adjusted Yield ------------------------------------------- -------------------- -------------- Equal to or less than 6974% and .50% 3.3754.75% greater than 6572% -------------------------------------------------------------------------------------------------------- Equal to or less than 6572% .6451.00% 3.525.25% -------------------------------------------------------------------------------------------------------- September 7June 5, 2003 ----------------------------------------------------------------------------------- -------------------- Ordinary Shares 2004 ------------------------------------------------------------------------------------------------------------------ Common Stock Threshold Price Contingent Additional Adjusted Yield (expressed as a percentage of the Accreted Contingent Conversion Principal Price of the SecuritiesNotes) -------------------------------------------------------------------------------------------------------- Additional Principal Adjusted Yield ------------------------------------------- -------------------- -------------- Equal to or less than 7578% and .50% 3.3754.75% greater than 7276% ----------------------------------------------------------------------------------- -------------------- Equal to or less than 7276% .6451.00% 3.52% ----------------------------------------------------------------------------------- --------------------5.25%

Appears in 1 contract

Samples: First Supplemental Indenture (Markel Corp)

CONTINGENT ADDITIONAL PRINCIPAL. On September 7, 2002 and September 7, 2003, if the Sale Price of the Ordinary Shares is at or below the Ordinary Shares Threshold Price (as set forth in the first column under the schedule below) for at least 20 Trading Days during the Thirty-Trading-Day Measurement Period prior to that date, Contingent Additional Principal shall accrue on the Securities commencing on such date at a rate of either 0.50% or .645% per year, computed on a semiannual bond equivalent basis, on the sum of the issue price plus accrued Original Issue Discount to such date for a period of one year, in accordance with the schedule set forth below: September 7, 2002 -------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------- Ordinary Shares Threshold Price Contingent Additional Adjusted Yield (expressed as a percentage of the Accreted Conversion Principal Price of the Securities) -------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------- Equal to or less than 69% and .50% 3.375% greater than 65% -------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------- Equal to or less than 65% .645% 3.52% -------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------- September 7, 2003 ----------------------------------------------------------------------------------- -------------------- ----------------------------------------------------------------------------------------------------------- Ordinary Shares Threshold Price Contingent Additional Adjusted Yield (expressed as a percentage of the Accreted Conversion Principal Price of the Securities) -------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------- Equal to or less than 75% and .50% 3.375% greater than 72% ----------------------------------------------------------------------------------- -------------------- ----------------------------------------------------------------------------------------------------------- Equal to or less than 72% .645% 3.52% ----------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------------

Appears in 1 contract

Samples: Indenture (Xl Capital LTD)

AutoNDA by SimpleDocs

CONTINGENT ADDITIONAL PRINCIPAL. (a) On September 7, 2002 and September 7, 2003, if the Sale Price of the Ordinary Shares is at or below the Ordinary Shares Threshold Price (as set forth in the first column under the schedule below) for at least 20 Trading Days during the Thirty-Trading-Day Measurement Period prior to that date, Contingent Additional Principal shall accrue on the Securities commencing on such date at a rate of either 0.50% or .645% per year, computed on a semiannual bond equivalent basis, on the sum of the issue price Issue Price plus accrued Original Issue Discount to such date for a period of one year, in accordance with the schedule set forth below: September 7, 2002 -------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------- Ordinary Shares Threshold Price Contingent Additional Adjusted Yield (expressed as a percentage of the Accreted Conversion Principal Price of the Securities) -------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------- Equal to or less than 69% and .50% 3.375% greater than 65% -------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------- Equal to or less than 65% .645% 3.52% -------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------- September 7, 2003 ----------------------------------------------------------------------------------- -------------------- ----------------------------------------------------------------------------------------------------------- Ordinary Shares Threshold Price Contingent Additional Adjusted Yield (expressed as a percentage of the Accreted Conversion Principal Price of the Securities) -------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------- Equal to or less than 75% and .50% 3.375% greater than 72% ----------------------------------------------------------------------------------- -------------------- ----------------------------------------------------------------------------------------------------------- Equal to or less than 72% .645% 3.52% ----------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------- No Contingent Additional Principal will accrue after September 7, 2004.

Appears in 1 contract

Samples: Indenture (Xl Capital LTD)

Time is Money Join Law Insider Premium to draft better contracts faster.