Conversion Option. When an employee terminates, Dependent Life Insurance on a spouse may be converted to an individual policy which may be obtained without evidence of insurability and providing coverage for the same amount for which the spouse was insured as a dependent prior to termination. The premium of such policy shall be at the current rates of the insuring company. Application for the converted policy must be made within thirty-one (31) days of the date of termination of insurance.
Conversion Option. (a) At any time and from time to time on or after the Issuance Date, this Note shall be convertible (in whole or in part), at the option of the Holder (the “Conversion Option”), into such number of fully paid and non-assessable shares of Common Stock (the “Conversion Rate”) as is determined by dividing (x) that portion of the outstanding principal balance plus any accrued but unpaid interest under this Note as of such date that the Holder elects to convert by (y) the Conversion Price (as defined in Section 3.2 hereof) then in effect on the date on which the Holder faxes a notice of conversion (the “Conversion Notice”), duly executed, to the Maker (facsimile number (000) 000-0000, Attn.: CFO) (the “Voluntary Conversion Date”), provided, however, that the Conversion Price shall be subject to adjustment as described in Section 3.5
Conversion Option. (i) Upon approval of the issuance of any Tranche of Exchange Debt pursuant to Section 2.1(d), each Vendor Purchaser shall have the option of converting, in EXCHANGE DEBT AGREEMENT 9 400 accordance with the terms of this Agreement, on a pro rata basis (calculated based upon the respective principal amount of the Notes then held by them), a principal amount of Notes held by such Vendor Purchasers under its respective Note Purchase Agreement into a like principal amount (or, in the case of Senior Discount Exchange Debt, issue price) of Initial Exchange Debt such that (x) after giving effect to all such conversions by all Purchasers, the Senior Debt to Total Capitalization Ratio shall be less than or equal to the Target Ratio; and (y) the aggregate principal amount of Notes so exchanged for Initial Exchange Debt does not exceed the principal amount of Notes being assigned by such Converting Vendor Purchasers pursuant to a Non-Recourse Assignment (the principal amount of exchanged Notes being the "Conversion Portion"). Each Vendor Purchaser shall notify the Initiating Vendor Purchaser and all other Vendor Purchasers within ten Business Days after receipt by such Vendor Purchaser of any Notice of Proposed Conversion to Exchange Debt pursuant to Section 2.1(a) whether it elects to convert and each Vendor Purchaser electing to convert in accordance with such Notice (a "Converting Vendor Purchaser") shall be obligated to convert Notes on the terms and conditions set forth in such Notice of Proposed Conversion to Exchange Debt and this Agreement, provided that all conditions to conversion set forth in the Exchange Debt Conversion Agreement are satisfied or waived by each of the Converting Vendor Purchasers on the Conversion Date in respect of such Initial Exchange Debt. If any Vendor Purchaser elects not to convert its full Conversion Portion (a "Non-Converting Vendor Purchaser"), the Converting Vendor Purchasers shall recalculate each of their respective Conversion Portions in accordance with this Section 2.1(e)(i). Any Vendor Purchaser not providing a notice pursuant to this Section 2.1(e)(i) within such ten-day period shall be deemed to be a Non-Converting Purchaser. The Conversion Portion calculated hereunder shall be for estimate purposes only and the final conversion amount shall be determined by mutual agreement of the Converting Vendor Purchasers on the Conversion Date in respect of such Initial Exchange Debt.
(ii) A Non-Converting Vendor Purchaser shall not...
Conversion Option. Subject to the provisions of this Agreement, the Borrower may convert the whole or any part of any type of Loan under the Credit Facility into any other type of Loan under the Credit Facility by giving the Agent a Conversion Notice in accordance herewith; provided that:
(a) Conversions of Libor Loans and Bankers’ Acceptances may only be made on the last day of the Interest Period applicable thereto;
(b) the Borrower may not convert a portion only or the whole of an outstanding Loan unless both the unconverted portion and converted portion of such Loan are equal to or exceed, in the relevant currency of each such portion, the minimum amounts required for Drawdowns of Loans of the same type as that portion (as set forth in Section 2.5);
(c) in respect of Conversions of a Loan denominated in one currency to a Loan denominated in another currency, the Borrower shall at the time of the Conversion repay the Loan or portion thereof being converted in the currency in which it was denominated; and
(d) a Conversion shall not result in an increase in Outstanding Principal; increases in Outstanding Principal may only be effected by Drawdowns made in accordance herewith.
Conversion Option. At any time on or after the Issuance Date, this Note shall be convertible (in whole or in part), at the option of the Holder (the “Conversion Option”), into such number of fully paid and non-assessable shares of Common Stock (the “Conversion Rate”) as is determined by dividing (x) that portion of the outstanding principal balance plus any accrued but unpaid interest under this Note as of such date that the Holder elects to convert by (y) the Conversion Price (as defined in Section 3.02 hereof) then in effect on the date on which the Holder faxes a notice of conversion (the “Conversion Notice”), duly executed, to the Maker (facsimile number (000) 000-0000, Attn.: Chief Executive Officer) (the “Conversion Date”); provided, however, that the Conversion Price shall be subject to adjustment as described in Section 3.05
Conversion Option. An employee may convert to cash all or none of the days to which he is entitled. Conversion of only some of the days to which an employee is entitled as well as conversion of partial days is not authorized.
Conversion Option. Borrower may elect from time to time (i) to convert all of any part of its Eurodollar Loans to Prime Rate Loans by giving Agent irrevocable notice of such election in writing prior to 10:00 a.m. (Dallas, Texas time) on the conversion date and such conversion shall be made on the requested conversion date, provided that any such conversion of Eurodollar Loan shall only be made on the last day of the Eurodollar Interest Period with respect thereof, (ii) to convert all or any part of its Prime Rate Loans to Eurodollar Loans by giving the Agent irrevocable written notice of such election three (3) Eurodollar Business Days prior to the proposed conversion and such conversion shall be made on the requested conversion date or, if such requested conversion date is not a Eurodollar Business Day or a Business Day, as the case may be, on the next succeeding Eurodollar Business Day or Business Day, as the case may be. Any such conversion shall not be deemed to be a prepayment of any of the loans for purposes of this Agreement on either of the Notes.
Conversion Option. Subject to the provisions of this Agreement, CCCL may, prior to the Maturity Date, effective on any Business Day, convert, in whole or in part, C$ R/C Loans into Bankers' Acceptances or vice versa upon giving to the Canadian Administrative Agent prior irrevocable telephone or written notice within the notice period and in the form which would be required to be given to the Canadian Administrative Agent in respect of the category of C$ Loan into which the outstanding C$ Loan is to be converted in accordance with the provisions of Section 3.2 or 3.3, as applicable, followed by written confirmation on the same day, provided that:
(A) no C$ R/C Loan may be converted into a Bankers' Acceptance when any Event of Default has occurred and is continuing and the Canadian Administrative Agent has or the Required C$ Banks have determined in its or their sole discretion that such conversion is not appropriate;
(B) each conversion to Bankers' Acceptances shall be for a minimum aggregate amount of C$10,000,000 (and whole multiples of C$100,000 in excess thereof) and each conversion to C$ R/C Loans shall be in a minimum aggregate amount of C$5,000,000; and
(C) Bankers' Acceptances may be converted only on the maturity date of such Bankers' Acceptances and, provided that, if less than all Bankers' Acceptances are converted, then after such conversion not less than C$10,000,000 (and whole multiples of C$100,000 in excess thereof) shall remain as Bankers' Acceptances.
Conversion Option. Subject to the provisions of this Agreement, the Borrower may convert the whole or any part of any type of Loan under the Credit Facility into any other type of permitted Loan under the Credit Facility by giving the Lender a Conversion Notice in accordance herewith; provided that:
(a) Conversions of CDOR Rate Loans may only be made on the last day of the Interest Period applicable thereto;
(b) the Borrower may not convert a portion only or the whole of an outstanding Loan unless both the unconverted portion and converted portion of such Loan are equal to or exceed the minimum amounts required for Drawdowns of Loans of the same type as that portion (as set forth in Section 2.4); and
(c) a Conversion shall not result in an increase in Outstanding Principal; increases in Outstanding Principal may only be effected by Drawdowns.
Conversion Option. (a) Commencing on the forty-fifth calendar day or on any earlier day specified by the Determination Agent with the approval of the Company following the initial original issuance of the Warrants, each Warrantholder will have the option (the "Conversion Option") to convert the form in which such Warrantholder holds his Warrants from definitive to book-entry form. The Company shall notify each Warrantholder as soon as practicable after the initial original issuance of the Warrants (i) that Warrant Certificates (as defined herein) must be delivered to an entity (a "Participant") entitled to execute, clear and settle transactions through The Depository Trust Company, New York, New York (the "Depository", which term, as used herein, includes any successor securities depository selected by the Company) in proper form for deposit in order for Warrants to be converted into book-entry form, (ii) the date on which such conversions will commence (which shall be such 45th calendar day or such earlier day (the "Initial Conversion Date"), (iii) the date on which such conversions will end (which date shall be the forty-fifth calendar day after the Initial Conversion Date (the "Final Conversion Date")) and (iv) the CUSIP number assigned to the Warrants. The Warrant Agent, at the request and expense of the Company and on behalf of the Company, shall mail such notice to each Warrantholder. The period from the Initial Conversion Date to and including the Final Conversion Date is referred to herein as the "Conversion Option Period". Warrants in book-entry form shall not be exchangeable for Warrant Certificates, except as provided herein. The Company will give prior notice of any such earlier Initial Conversion Date to the Warrant Agent by telephone or facsimile transmission and to the Warrantholders by mail or (at the Company's sole discretion) publication in a United States newspaper with a national circulation (currently expected to be The Wall Street Journal).
(b) During the Conversion Option Period, the Depository will credit the account of each Participant that deposits Warrant Certificates with the quantity of Warrants evidenced by such Warrant Certificates either by the close of business on the Business Day on which such Warrant Certificates are deposited (if received by the Depository by its then applicable cut-off time for same-day credit) or on the following Business Day (if received by the Depository by its then applicable cut-off time for next-day credit), all in ...
