Common use of Conversion Privilege and Conversion Rate Clause in Contracts

Conversion Privilege and Conversion Rate. (a) Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Note may be converted into fully paid and nonassessable shares (calculated as to each conversion to the nearest 1/100th of a share) of Common Stock of the Company at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall commence on the initial issuance date of the Notes and expire at the close of business on the Business Day prior to the date of Maturity of the Notes, subject, in the case of conversion of any Global Note, to any Applicable Procedures. In case a Note or portion thereof is called for redemption at the election of the Company or the Holder thereof exercises its right to require the Company to repurchase the Note, such conversion right in respect of the Note, or portion thereof so called, shall expire at the close of business on the Business Day prior to the Redemption Date, the Fundamental Change Repurchase Date or the Five Year Repurchase Date, as the case may be, unless the Company defaults in making the payment due upon redemption or repurchase, as the case may be (in each case subject as aforesaid to any Applicable Procedures with respect to any Global Note); provided that, if a Holder has delivered notice of the exercise of its right to have its Note repurchased pursuant to Section 11.01(c) or Section 11.02(c), such Holder may not surrender such Note for conversion until such Holder has withdrawn its election to have its Note repurchased in accordance with Section 11.01 or Section 11.02, as the case may be. The rate at which shares of Common Stock shall be delivered upon conversion (herein called the “Conversion Rate”) shall be initially [ ] shares of Common Stock for each U.S. $1,000 Principal Amount of Notes. The Conversion Rate shall be shall be adjusted (rounded to four decimal places) in certain instances as provided in this Article 10.

Appears in 1 contract

Samples: Indenture (Charter Communications Inc /Mo/)

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Conversion Privilege and Conversion Rate. (a) Subject to and upon compliance with the provisions of this Article, at any time on or after the Non-Conversion Period (as defined in Section 2.03), at the option of the Holder thereof, any Note Security or any portion of the principal amount thereof which is $1,000 or any integral multiple of $1,000 in excess thereof, may be converted at the principal amount thereof, or of such portion thereof, into fully paid and nonassessable shares Common Stock of the Company (calculated as to each conversion to the nearest 1/100th 1/100 of a share) of Common Stock of the Company at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall commence on the initial issuance date of the Notes and expire at the close of business on the Business Day prior Redemption Date or Repurchase Date for such Security (except, in the case of a partial redemption or repurchase, to the date of Maturity extent of the Notesportion thereof not being redeemed or repurchased, as the case may be); subject, in the case of conversion of any a Global NoteSecurity, to any Applicable Proceduresapplicable book-entry procedures of the Depository for such conversion. In case a Note Security or portion thereof is called for redemption at the election of the Company or is delivered for repurchase at the Holder thereof exercises its right to require option of the Company to repurchase the NoteHolder, such conversion right in respect of the Note, Security or portion thereof so called, called shall expire at the close of business on the Business Day prior to the Redemption Date, the Fundamental Change Repurchase Date or the Five Year Repurchase Date, as the case may be, unless the Company defaults in making the payment due upon redemption or the repurchase, as the case may be (in each case subject as aforesaid to any Applicable Procedures with respect to any Global Noteapplicable book-entry procedures); provided that, if a Holder has delivered notice of the exercise of its right to have its Note repurchased pursuant to Section 11.01(c) or Section 11.02(c), such Holder may not surrender such Note for conversion until such Holder has withdrawn its election to have its Note repurchased in accordance with Section 11.01 or Section 11.02, as the case may be. The rate at which shares of Common Stock shall be delivered upon conversion (herein called the "Conversion Rate") shall be initially [ ] 9.5797 shares of Common Stock for each U.S. $1,000 Principal Amount U.S.$1,000 principal amount of NotesSecurities. The Conversion Rate shall be shall be adjusted (rounded to four decimal places) in certain instances as provided in this Article 10XII. The price at which Common Stock shall be delivered upon conversion (herein called the "Conversion Price") shall at any time be equal to U.S. $1,000 divided by the then applicable Conversion Rate (and rounded to the nearest cent).

Appears in 1 contract

Samples: America Online Inc

Conversion Privilege and Conversion Rate. (a) Subject to and upon compliance with the provisions of this ArticleArticle 11, at the option of the Holder thereof, any Note Security or any portion of the principal amount thereof (but not Accrued Original Issue Discount thereon) that is U.S.$1,000 or an integral multiple of U.S.$1,000 may be converted into fully paid and nonassessable shares (calculated as to each conversion to the nearest 1/100th of a share) of Common Stock into fully paid and nonassessable Ordinary Shares (or, at the election of the Company Holder, into ADSs representing Ordinary Shares; provided that (i) the Security being converted has been transferred pursuant to an effective Registration Statement or an effective registration statement under the Securities Act and is not otherwise a "restricted security" within the meaning of Rule 144(a)(3) under the Securities Act and (ii) the Company's deposit agreement with respect to ADSs, or a successor deposit agreement, is in effect) at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall commence on upon the initial original issuance date of the Notes Securities and expire at the close of business on November 12, 2006, unless the Business Day prior to the date of Maturity of the NotesSecurity has been previously redeemed or repurchased, subject, in the case of conversion of any Global NoteSecurity, to any Applicable Procedures. In case a Note Security or portion thereof is called for redemption at the election of the Company or the Holder thereof exercises its his right to require the Company to repurchase the NoteSecurity, such conversion right in respect of the NoteSecurity, or portion thereof so called, shall expire at the close of business on the Business Day prior to immediately preceding the Redemption Date, the Fundamental Change Repurchase Date or the Five Year Repurchase Date, as the case may be, unless the Company defaults in making the payment due upon redemption or repurchase, as the case may be (in each case subject subject, as aforesaid aforesaid, to any Applicable Procedures with respect to any Global NoteSecurity); provided that, if a Holder has delivered notice of the exercise of its right to have its Note repurchased pursuant to Section 11.01(c) or Section 11.02(c), such Holder may not surrender such Note for conversion until such Holder has withdrawn its election to have its Note repurchased in accordance with Section 11.01 or Section 11.02, as the case may be. The rate at which shares of Common Stock Ordinary Shares shall be delivered upon conversion (herein called the “Conversion Rate”"CONVERSION RATE") shall be initially [ ] shares of Common Stock 266.6667 Ordinary Shares for each U.S. $1,000 Principal Amount U.S.$1,000 principal amount of NotesSecurities. The Conversion Rate shall be shall be adjusted (rounded to four decimal places) in certain instances as provided in this Article 1011. In the event that the Holder elects to receive ADSs upon conversion, such Holder shall receive the whole number of ADSs (rounded down to the nearest ADS, in the event that a fractional ADS would otherwise be issuable) representing the number of Ordinary Shares that would be deliverable to such Holder if such Holder elected to receive Ordinary Shares upon conversion of Securities. For purposes of the remainder of this Article 11, unless the context requires otherwise, the term "ORDINARY SHARES" means the Ordinary Shares or ADSs issuable upon conversion of Securities.

Appears in 1 contract

Samples: Indenture (Durban Roodepoort Deep LTD)

Conversion Privilege and Conversion Rate. (a) Subject to and upon compliance with the provisions of this ArticleArticle 11, at the option of the Holder thereof, any Note Security or any portion of the principal amount thereof that is U.S.$1,000 or an integral multiple of U.S.$1,000 may be converted into fully paid and nonassessable shares (calculated as to each conversion to the nearest 1/100th of a share) of Common Stock into fully paid and nonassessable Ordinary Shares (or, at the election of the Company Holder, into ADSs representing Ordinary Shares; provided that the Company's deposit agreement with respect to ADSs, or a successor deposit agreement, is in effect) at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall commence on upon the initial original issuance date of the Notes Securities and expire at the close of business on June 12, 2010, unless the Business Day prior to the date of Maturity of the NotesSecurity has been previously redeemed or repurchased, subject, in the case of conversion of any Global NoteSecurity, to any Applicable Procedures. In case a Note Security or portion thereof is called for redemption at the election of the Company or the Holder thereof exercises its his right to require the Company to repurchase the NoteSecurity, such conversion right in respect of the NoteSecurity, or portion thereof so called, shall expire at the close of business on the Business Day prior to immediately preceding the Redemption Date, the Fundamental Change Repurchase Date or the Five Year Repurchase Date, as the case may be, unless the Company defaults in making the payment due upon redemption or repurchase, as the case may be (in each case subject subject, as aforesaid aforesaid, to any Applicable Procedures with respect to any Global NoteSecurity); provided that, if a Holder has delivered notice of the exercise of its right to have its Note repurchased pursuant to Section 11.01(c) or Section 11.02(c), such Holder may not surrender such Note for conversion until such Holder has withdrawn its election to have its Note repurchased in accordance with Section 11.01 or Section 11.02, as the case may be. The rate at which shares of Common Stock Ordinary Shares shall be delivered upon conversion (herein called the “Conversion Rate”"CONVERSION RATE") shall be initially [ ] shares of Common Stock 512.82 Ordinary Shares for each U.S. $1,000 Principal Amount U.S.$1,000 principal amount of NotesSecurities. The Conversion Rate shall be shall be adjusted (rounded to four decimal places) in certain instances as provided in this Article 1011. In the event that the Holder elects to receive ADSs upon conversion, such Holder shall receive the whole number of ADSs (rounded down to the nearest ADS, in the event that a fractional ADS would otherwise be issuable) representing the number of Ordinary Shares that would be deliverable to such Holder if such Holder elected to receive Ordinary Shares upon conversion of Securities. For purposes of the remainder of this Article 11, unless the context requires otherwise, the term "ORDINARY SHARES" means the Ordinary Shares or ADSs issuable upon conversion of Securities.

Appears in 1 contract

Samples: Indenture (Drdgold LTD)

Conversion Privilege and Conversion Rate. (a) Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Note may be converted into fully paid and nonassessable shares (calculated as to each conversion to the nearest 1/100th of a share) of Common Stock of the Company at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall commence on the initial issuance date of the Notes and expire at the close of business on the Business Day prior to the date of Maturity of the Notes, subject, in the case of conversion of any Global Note, to any Applicable Procedures. In case a Note or portion thereof is called for redemption at the election of the Company or the Holder thereof exercises its right to require the Company to repurchase the Note, such conversion right in respect of the Note, or portion thereof so called, shall expire at the close of business on the Business Day prior to the Redemption Date, the Fundamental Change Repurchase Date or the Five Year Repurchase Date, as the case may be, unless the Company defaults in making the payment due upon redemption or repurchase, as the case may be (in each case subject as aforesaid to any Applicable Procedures with respect to any Global Note); provided that, if a Holder has delivered notice of the exercise of its right to have its Note repurchased pursuant to Section 11.01(c) or Section 11.02(c), such Holder may not surrender such Note for conversion until such Holder has withdrawn its election to have its Note repurchased in accordance with Section 11.01 or Section 11.02, as the case may be. The rate at which shares of Common Stock shall be delivered upon conversion (herein called the “Conversion Rate”) shall be initially [ ] 293.3868 shares of Common Stock for each U.S. $1,000 Principal Amount of Notes. The Conversion Rate shall be shall be adjusted (rounded to four decimal places) in certain instances as provided in this Article 10.

Appears in 1 contract

Samples: Indenture (Charter Communications Inc /Mo/)

Conversion Privilege and Conversion Rate. (a) Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Note Security may be converted into fully paid and nonassessable shares (calculated as to each conversion to the nearest 1/100th of a share) of Common Stock of the Company at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall commence on the initial issuance date of the Notes Securities and expire at the close of business on the Business Day prior to the date of Maturity of the NotesMaturity, subject, in the case of conversion of any Global NoteSecurity, to any Applicable Procedures. In case a Note Security or portion thereof is called for redemption at the election of the Company or the Holder thereof exercises its his right to require the Company to repurchase the NoteSecurity, such conversion right in respect of the NoteSecurity, or portion thereof so called, shall expire at the close of business on the Business Day prior to immediately preceding the Redemption Date, the Fundamental Change Repurchase Date or the Five Year Repurchase Date, as the case may be, unless the Company defaults in making the payment due upon redemption or repurchase, as the case may be (in each case subject as aforesaid to any Applicable Procedures with respect to any Global NoteSecurity); provided that, if a Holder has delivered notice of the exercise of its right to have its Note repurchased pursuant to Section 11.01(c) or Section 11.02(c), such Holder may not surrender such Note for conversion until such Holder has withdrawn its election to have its Note repurchased in accordance with Section 11.01 or Section 11.02, as the case may be. The rate at which shares of Common Stock shall be delivered upon conversion (herein called the "Conversion Rate") shall be initially [ ] 5.2430 shares of Common Stock for each U.S. $1,000 Principal Amount U.S.$1,000 principal amount of NotesSecurities. The Conversion Rate shall be shall be adjusted (rounded to four decimal places) in certain instances as provided in this Article 10XII. Notwithstanding any other provision of this Indenture and the Securities, the initial conversion rate set forth above shall be deemed to have given effect to the Company's two-for-one common stock split, to be effected as a common stock dividend payable on April 3, 2000, and no further adjustment shall be made in respect thereof.

Appears in 1 contract

Samples: Indenture (Redback Networks Inc)

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Conversion Privilege and Conversion Rate. (a) Subject to and upon compliance with the provisions of this ArticleArticle Thirteen, at the option of the Holder thereof, any Note Security may be converted at any time into fully paid and nonassessable non-assessable shares (calculated as to each conversion to the nearest 1/100th of a share) of Common Stock of the Company at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall commence on the initial issuance date of the Notes and expire at the close of business on the Business Day prior to the date of Maturity of the NotesSeptember 15, 2006, subject, in the case of conversion of any Global NoteSecurity, to any Applicable Procedures. In case a Note Security or portion thereof is called for redemption at the election of the Company or the Holder thereof exercises its his right to require the Company to repurchase the Notea Security or portion thereof, such conversion right in respect of the Note, or portion thereof so calledsuch Security, shall expire (a) at the close of business on the Business Day prior to the Redemption Date, in the Fundamental Change Repurchase Date or case of a Security called for redemption, and (b) at the Five Year close of business on the Repurchase Date, as in the case may beof a Security tendered for repurchase, in each case unless the Company defaults in making the payment due upon redemption or repurchase, as the case may be (be, and in each case subject as aforesaid to any Applicable Procedures with respect to any Global Note); provided that, if a Holder has delivered notice of Security. Prior to the exercise of its right to have its Note repurchased pursuant to Section 11.01(c) or Section 11.02(c), such Holder may not surrender such Note for conversion until such Holder has withdrawn its election to have its Note repurchased in accordance with Section 11.01 or Section 11.02, as Effective Time the case may be. The rate at which shares of Common Stock shall be would have been delivered upon conversion (herein called the “Conversion Rate”) shall be was initially [ ] 24.0601 shares of Common Stock for each U.S. $1,000 Principal Amount principal amount of NotesSecurities (subject to adjustment as provided in Article Thirteen to the Indenture, as it existed prior to the Effective Time). From and after the Effective Time, the holder of each Outstanding Security shall have the right during the period such Security shall be convertible as specified in the preceding paragraph of this Section 1301, to convert such Security into the number of shares of Common Stock that a holder of shares of the Company's common stock would have received in connection with the Merger if such holder held the number of shares of the Company's common stock into which such Security was convertible immediately prior to the Effective Time. The number of shares of Common Stock such holder would have received for each $1,000 principal amount of Securities converted shall be referred to herein as the "Conversion Rate". The Conversion Rate shall be extended to the sixth decimal place. The Conversion Rate shall be adjusted (rounded to four decimal places) in certain instances as provided in this Article 10Thirteen. SECTION 1302.

Appears in 1 contract

Samples: Supplemental Indenture (Proffitts Inc)

Conversion Privilege and Conversion Rate. (a) Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Note may be converted into fully paid and nonassessable shares (calculated as to each conversion to the nearest 1/100th of a share) of Common Stock of the Company at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall commence on the initial issuance date of the Notes and expire at the close of business on the Business Day prior to the date of Maturity of the Notes, subject, in the case of conversion of any Global Note, to any Applicable Procedures. In case a Note or portion thereof is called for redemption at the election of the Company or the Holder thereof exercises its right to require the Company to repurchase the Note, such conversion right in respect of the Note, or portion thereof so called, shall expire at the close of business on the Business Day prior to the Redemption Date, the Fundamental Change Repurchase Date or the Five Year Repurchase Date, as the case may be, unless the Company defaults in making the payment due upon redemption or repurchase, as the case may be (in each case subject as aforesaid to any Applicable Procedures with respect to any Global Note); provided that, if a Holder has delivered notice of the exercise of its right to have its Note repurchased pursuant to Section 11.01(c11.02(b) or Section 11.02(c), such Holder may not surrender such Note for conversion until such Holder has withdrawn its election to have its Note repurchased in accordance with Section 11.01 or Section 11.02, as the case may be. The rate at which shares of Common Stock shall be delivered upon conversion (herein called the “Conversion Rate”"CONVERSION RATE") shall be initially [ ] 413.2231 shares of Common Stock for each U.S. $1,000 Original Principal Amount of Notes. The Conversion Rate shall be shall be adjusted (rounded to four decimal places) in certain instances as provided in this Article 10.. In addition, if the Company elects pursuant to Section 2.16(a) to have Accreted Liquidated Damages, the Conversion Rate shall be increased on each Damages Payment Date at the same rate and in the same manner as such Accreted Liquidated Damages are added to the Accreted Principal Amount of $1,000 Original Principal Amount of Notes

Appears in 1 contract

Samples: Charter Communications Inc /Mo/

Conversion Privilege and Conversion Rate. (a) Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Note Security may be converted converted, in whole or in part, into fully paid and nonassessable shares (calculated as to each conversion to the nearest 1/100th of a share) of Common Stock of the Company at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall commence on the initial issuance date of the Notes Issue Date and expire at the close of business on the Business Day prior to the date of Maturity of the NotesMaturity, subject, in the case of conversion of any Global NoteSecurity, to any Applicable Procedures. In case a Note Security or portion thereof is called for redemption at the election of the Company or the Holder thereof exercises its his right to require the Company to repurchase the NoteSecurity, such conversion right in respect of the NoteSecurity, or portion thereof so calledcalled for redemption or submitted for repurchase, shall expire at the close of business on the Business Day prior to immediately preceding the Redemption Date, the Fundamental Change Repurchase Date or the Five Year Repurchase Date, as the case may be, unless the Company defaults in making the payment due upon redemption or repurchase, as the case may be, in which case the conversion right will terminate at the close of business on the date such default is cured and the Securities are redeemed or repurchased, as the case may be (in each case subject as aforesaid to any Applicable Procedures with respect to any Global NoteSecurity); . If the Securities have a Redemption Date on or before December 10, 2007, the Company will make an Interest Make Whole Payment (as provided that, if a Holder has delivered in Section 11.1) on all Securities surrendered for conversion after notice of redemption and prior to the exercise of Redemption Date. If a holder surrenders its right to have its Note repurchased pursuant to Section 11.01(cSecurities (or any portion thereof) or Section 11.02(c), such Holder may not surrender such Note for conversion until after receipt of a Company Notice in connection with a Fundamental Change and prior to the Repurchase Date, and the Fundamental Change constitutes a Cash Buy-Out, the Company will pay a Make Whole Premium to such Holder has withdrawn its election holder, in addition to have its Note repurchased in accordance with Section 11.01 or Section 11.02, as the case may beshares of Common Stock deliverable upon conversion of the Securities. The rate at which shares of Common Stock shall be delivered upon conversion (herein called the "Conversion Rate") shall be initially [ ] equal to 68.2594 shares of Common Stock for each U.S. $1,000 Principal Amount aggregate principal amount of NotesSecurities. The Conversion Rate shall be shall be adjusted (rounded to four decimal places) in certain instances as provided in this Article 10XII.

Appears in 1 contract

Samples: Collegiate Pacific Inc

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