Conversion of Debentures. Section 16.01.
Conversion of Debentures. 21 Section 4.1
Conversion of Debentures. SECTION 12.01.
Conversion of Debentures. 66 Section 13.1
Conversion of Debentures. SECTION 5.01. Subject to and upon compliance with the provisions of this Article Five, the Series 6% Debentures are convertible at the option of the Holder, at any time through the close of business on May 14, 2008 (or, in the case of Series 6% Debentures called for redemption, the close of business on the Business Day prior to the corresponding redemption date) into fully paid and nonassessable shares of Common Stock of the Company at an initial conversion rate of 1.0811 shares of Common Stock for each $50 in aggregate principal amount of Series 6% Debentures (equal to a conversion price (as adjusted from time to time, the "Conversion Price") of $46.25 per share of Common Stock), subject to adjustment as described in this Article Five, provided that no adjustment shall be made in accordance with the provisions of this Section 5 for the stock dividend payable on June 1, 2000. A Holder of Series 6% Debentures may convert any portion of the principal amount of the Series 6% Debentures into that number of fully paid and nonassessable shares of Common Stock obtained by dividing the principal amount of the Series 6% Debentures to be converted by such conversion price. All calculations under this Article Five shall be made to the nearest cent or to the nearest 1/10,000th of a share, as the case may be.
(a) In order to convert all or a portion of the Series 6% Debentures, the Holder thereof shall deliver to the Conversion Agent an irrevocable Notice of Conversion setting forth the principal amount of Series 6% Debentures to be converted, together with the name or names, if other than the Holder, in which the shares of Common Stock should be issued upon conversion and, if such Series 6% Debentures are definitive Series 6% Debentures, surrender to the Conversion Agent the Series 6% Debentures to be converted, duly endorsed or assigned to the Company or in blank. In addition, a holder of Preferred Securities may exercise its right under the Declaration of Trust to convert such Preferred Securities into Common Stock by delivering to the Conversion Agent an irrevocable Notice of Conversion setting forth the information called for by the preceding sentence and directing the Conversion Agent to (i) exchange such Preferred Security for a portion of the Series 6% Debentures held by the Trust (at an exchange rate of $50 principal amount of Series 6% Debenture for each Preferred Security) and (ii) immediately convert such Series 6% Debenture, on behalf of such holder, into ...
Conversion of Debentures.
Section 5.1 Applicability of Article
(1) Any Debentures issued hereunder of any series which by their terms are convertible (subject, however, to any applicable restriction of the conversion of Debentures of such series) will be convertible into Common Shares or other securities of the Corporation, at such conversion rate or rates, and on such date or dates and in accordance with such other provisions as shall have been determined at the time of issue of such Debentures and shall have been expressed in this Indenture (including Sections 2.4(6) and 3.6 hereof), in such Debentures, in an Officer’s Certificate, or in a supplemental indenture authorizing or providing for the issue thereof.
(2) Such right of conversion shall extend only to the maximum number of whole Common Shares into which the aggregate principal amount of the Debenture or Debentures surrendered for conversion at any one time by the holder thereof may be converted. Fractional interests in Common Shares shall be adjusted for in the manner provided in Section 5.6.
Conversion of Debentures. Each $1,000 principal amount of this Debenture is convertible, at the option of the holder hereof at any time prior to 5:00 p.m. New York time on the Business Day prior to the Maturity Date or the date fixed for redemption (the "EXPIRY DATE") and from time to time, for that number of common shares in the capital of the Corporation ("COMMON SHARES") determined by dividing $1,000 by $3.25 (the "CONVERSION PRICE"), subject to adjustment as described below.
Conversion of Debentures. 65 Section 13.1 Conversion Rights............................................................65 Section 13.2 Conversion Procedures........................................................65 Section 13.3 Expiration of Conversion Rights..............................................68 Section 13.4
Conversion of Debentures. (a) As provided in paragraph 4 of the Debentures, Purchaser may give Notice of Conversion of the Debentures to PSI by facsimile to the number set forth in Section 10 below. Conversion of Debentures may take place at any time until the Maturity Date of the Debentures, as defined in the Debentures. As provided in paragraph 4 of the Debentures, within 10 business days of receipt of a Notice of Conversion, PSI shall deliver to the Purchaser giving such notice, or to an account designated by such Purchaser in the Notice of Conversion, certificates representing the shares of common stock to which the Purchaser shall be entitled by reason of the conversion ("CERTIFICATES"). Notwithstanding anything to the contrary contained in paragraph 4 of the Debentures, PSI may demand, in writing, that the Purchaser pay outstanding principal amounts of the Debentures ("DEMAND") even though Purchasers have not convened all or any amount of the Debentures into shares of common stock, as provided in subsections (A) and (B) below. The Demand is a provision for payment of the Debenture only. Conversions of the Debentures into shares of common stock shall be done in accordance with paragraph 4 of the Debentures, and may be in an amount which is no less than $10,000 but not necessarily as much as the Demand. However, a Demand may only be made in aggregate increments of $100,000, commencing 20 business days from the Closing Date of the purchase of the Debentures, as set forth in the Agreement, each Demand being no less than 20 business days from the last Demand, and provided that the closing bid price of PSI's common stock for the previous 5 consecutive trading days has nor fallen below $.05 per share. On any single trading day, Purchaser may sell in the aggregate common stock equal to the greater of (i) 10% of the total trading volume of PSI's common stock at any time during a day when PSI's common stock trades or (ii) 6,000 shares of common stock (either (i) or (ii) being "MAXIMUM SALES"). However, in the event that Purchaser does not accomplish Maximum Sales on any trading day, the difference between the Maximum Sales and the dollar amount of sales actually done shall cumulate ("CUMULATIVE SALES") and Purchaser may accomplish the Cumulative Sales on any other trading day even if the Maximum Sales have been done on such day.
(b) if PSI fails to timely deliver Certificates, as provided in Section 5(a) above, then PSI shall pay Purchaser $150 per day for each day late in delivering C...
Conversion of Debentures. (a) As provided in paragraph 4 of the Debentures, Purchaser may give Notice of Conversion of the Debentures to Revenge by facsimile to the number set forth in Section 10 below. Conversion of Debentures may take place at any time until the Maturity Date of the Debentures, as defined in the Debentures. As provided in paragraph 4 of the Debentures, within 5 business days of receipt of the Notice of Conversion, Revenge shall deliver to the Purchaser, or to an account designated by Purchaser in the Notice of Conversion, certificates representing the shares of common stock to which the Purchaser shall be entitled by reason of the conversion ("CERTIFICATES"). Purchaser shall wire funds to make payment to Revenge of the face amount of the Debentures converted on or before the date of conversion. If Purchaser does not wire transfer payment to Revenge on or before the date of conversion, then Revenge shall give written notice to Escrow Agent that it has not received payment, with a copy of such notice to Purchaser, and Escrow Agent shall wire transfer to Revenge from the Escrow Fund, the face amount of the Debentures converted ("NOTICE OF PAYMENT") in accordance with the wire instructions annexed to this Escrow Agreement as EXHIBIT A. In the event a Payment is made from the Escrow Fund, Purchaser shall be required to replenish the Escrow Fund before any additional conversions are done. Notwithstanding anything to the contrary contained in paragraph 4 of the Debenture, Revenge may demand, in writing, that the Purchaser pay outstanding principal amounts of the Debenture ("DEMAND") even though Purchaser has not converted all or any amount of the Debenture into shares of common stock, as provided in subsections (A) and (B) below. The Demand is a provision for payment of the Debenture only. Conversions of the Debenture into shares of common stock shall be done in accordance with paragraph 4 of the Debenture, and may be in an amount which is no less than $25,000 but not necessarily as much as the Demand. However, (A) a Demand for the first $100,000 may be given at any time regardless of the closing bid price for Revenge's publicly traded common stock for the day preceding the Demand; and (B) a Demand for the remaining $60,000 may only be given as follows: (i) Demand may be given for the first $30,000 no less than 15 business days from the last date the first $100,000 is completely converted; and (ii) a Demand may be given for the final $30,000 no less than 10 business day...
