Conversion Privilege; Restrictive Legends. (A) Subject to the provisions of ARTICLE III the Securities shall be convertible into cash, ADSs or a combination of cash and ADSs in accordance with this ARTICLE X at any time prior to (and including) the third (3rd) Business Day preceding the Maturity Date. (B) A Security, or portion of a Security, that has been called for Redemption pursuant to PARAGRAPH 6 of the Securities may be surrendered for conversion into cash, ADSs or a combination of cash and ADSs; provided, however, that such Security or portion thereof may be surrendered for conversion pursuant to this ARTICLE X only until the close of business on the third (3rd) Business Day immediately preceding the Redemption Date. (C) The initial Conversion Rate shall be 25.4534 shares of ADSs per $1,000 principal amount of Securities. The Conversion Rate shall be subject to adjustment in accordance with this ARTICLE X. (D) A Holder may convert a portion of the principal amount of a Security if such portion is $1,000 principal amount or integral multiples of $1,000 principal amount. Provisions of this Indenture that apply to conversion of all of a Security also apply to conversion of a portion of such Security. (E) Any ADSs that are issued upon conversion of a Security shall bear the Private Placement Legend until the earlier of the first anniversary of the later of the issue date and the last date on which the Company or any Affiliate was the owner of such shares or the Security (or any predecessor security) from which such shares were converted (or such longer period of time as may be required under the Securities Act or applicable state securities laws, as set forth in an Opinion of Counsel, unless otherwise agreed by the Company and the Holder thereof).
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Samples: Indenture (LDK Solar Co., Ltd.)
Conversion Privilege; Restrictive Legends. (Aa) Subject to the provisions of ARTICLE III Sections 3.4 and 3.8, the Securities shall be convertible into cashshares of Common Stock at any time on or after the earlier of (x) the Registration Date or (y) two hundred seventy (270) days following the Issue Date but prior to the close of business on the Maturity Date, ADSs or a combination of cash and ADSs in accordance with this ARTICLE Article X at any time prior to (and including) the third (3rd) Business Day preceding the Maturity Date.
(B) as set forth below. A Security, or portion of a Security, that which has been called for Redemption pursuant to PARAGRAPH Paragraph 6 of the Securities may be surrendered for conversion into cash, ADSs or a combination shares of cash and ADSsCommon Stock; provided, however, that such Security or portion thereof may be surrendered for conversion pursuant to this ARTICLE X paragraph only until the close of business on the third (3rd) Business Day immediately preceding the Redemption Date.
(Cb) The initial Conversion Rate Price shall be 25.4534 shares $8.14 per share of ADSs per $1,000 principal amount of SecuritiesCommon Stock. The Conversion Rate Price shall be subject to adjustment in accordance with this ARTICLE X.Sections 10.7 through 10.12.
(Dc) Whenever any event described in Section 10.1 shall occur which shall cause the Securities to become convertible into shares of Common Stock, the Company shall promptly deliver, in accordance with Section 12.2, written notice of the convertibility of the Securities to the Trustee and each Holder. Such written notice and public announcement shall include a description of such event, a description of the periods during which the Securities shall be convertible and the procedures by which a Holder may convert its Securities. At the Company’s request, upon reasonable prior written notice agreed to by the Trustee, the Trustee shall, in the Company’s name and at the Company’s expense, deliver to each Holder the written notice of the convertibility of the Securities required by this Section 10.1(c); provided, that the form and content of such notice shall be prepared by the Company.
(d) A Holder may convert a portion of the principal amount of a such Security if such the portion is $1,000 principal amount or an integral multiples multiple of $1,000 principal amount. Provisions of this Indenture that apply to conversion of all of a Security also apply to conversion of a portion of such Securityit.
(Ee) Any ADSs that are shares of Common Stock issued upon conversion of a Security shall bear the Private Placement Legend until such shares are sold pursuant to an effective Registration Statement or until after the earlier of the first second anniversary of the later of the issue date Issue Date and the last date on which the Company or any Affiliate was the owner of such shares or the Security (or any predecessor security) from which such shares were converted (or such shorter period of time as permitted by Rule 144(k) under the Securities Act or any successor provision thereunder) (or such longer period of time as may be required under the Securities Act or applicable state securities laws, as set forth in an Opinion of Counsel, unless otherwise agreed by the Company and the Holder thereof).
Appears in 1 contract
Samples: Indenture (Terremark Worldwide Inc)
Conversion Privilege; Restrictive Legends. (Aa) Subject to the provisions of ARTICLE III SECTIONS 3.4, 3.7, and 3.8, the Securities shall be convertible into cashshares of Common Stock at any time on or after the earlier of (x) the Registration Date or (y) two hundred seventy (270) days following the Issue Date but prior to the close of business on the Maturity Date, ADSs or a combination of cash and ADSs in accordance with this ARTICLE X at any time prior to (and including) the third (3rd) Business Day preceding the Maturity Date.
(B) as set forth below. A Security, or portion of a Security, that which has been called for Redemption pursuant to PARAGRAPH 6 of the Securities may be surrendered for conversion into cash, ADSs or a combination shares of cash and ADSsCommon Stock; provided, however, that such Security or portion thereof may be surrendered for conversion pursuant to this ARTICLE X paragraph only until the close of business on the third second (3rd2nd) Business Day immediately preceding the Redemption Date.
(Cb) The initial Conversion Rate Price shall be 25.4534 shares $1.25 per share of ADSs per $1,000 principal amount of SecuritiesCommon Stock. The Conversion Rate Price shall be subject to adjustment in accordance with this ARTICLE X.SECTIONS 10.7 through 10.12.
(Dc) Whenever any event described in SECTION 10.1 shall occur which shall cause the Securities to become convertible into shares of Common Stock, the Company shall (i) promptly deliver, in accordance with SECTION 12.2, written notice of the convertibility of the Securities to the Trustee and each Holder; and (ii) publicly announce that the Securities have become convertible. Such written notice and public announcement shall include a description of such event, a description of the periods during which the Securities shall be convertible and the procedures by which a Holder may convert its Securities. At the Company's request, upon reasonable prior notice agreed to by the Trustee, the Trustee shall, in the Company's name and at the Company's expense, deliver to each Holder the written notice of the convertibility of the Securities required by this SECTION 10.1(c); provided, that the form and content of such notice shall be prepared by the Company.
(d) A Holder may convert a portion of the principal amount of a such Security if such the portion is $1,000 principal amount or an integral multiples multiple of $1,000 principal amount. Provisions of this Indenture that apply to conversion of all of a Security also apply to conversion of a portion of such Securityit.
(Ee) Any ADSs that are shares of Common Stock issued upon conversion of a Security shall bear the Private Placement Legend until such shares are sold pursuant to an effective Registration Statement or until after the earlier of the first second anniversary of the later of the issue date Issue Date and the last date on which the Company or any Affiliate was the owner of such shares or the Security (or any predecessor security) from which such shares were converted (or such shorter period of time as permitted by Rule 144(k) under the Securities Act or any successor provision thereunder) (or such longer period of time as may be required under the Securities Act or applicable state securities laws, as set forth in an Opinion of Counsel, unless otherwise agreed by the Company and the Holder thereof).
Appears in 1 contract
Samples: Indenture (Terremark Worldwide Inc)
Conversion Privilege; Restrictive Legends. (Aa) Subject to the provisions of ARTICLE III Section 3.8, the Securities shall be convertible into cash, ADSs or a combination shares of cash and ADSs in accordance with this ARTICLE X Common Stock at any time prior to (and including) the third (3rd) Business Day preceding the Maturity Date.
(B) A Security, or portion of a Security, that has been called for Redemption pursuant to PARAGRAPH 6 of the Securities may be surrendered for conversion into cash, ADSs or a combination of cash and ADSs; provided, however, that such Security or portion thereof may be surrendered for conversion pursuant to this ARTICLE X only until the close of business on the third (3rd) Business Day immediately preceding the Redemption Maturity Date, in accordance with this Article X and as set forth below.
(Cb) The initial Conversion Rate Price shall be 25.4534 shares $12.50 per share of ADSs per $1,000 principal amount of SecuritiesCommon Stock. The Conversion Rate Price shall be subject to adjustment in accordance with this ARTICLE X.Sections 10.7 through 10.12.
(Dc) If a Holder elects to convert its Securities in connection with a Cash Payment Change of Control and during the period beginning on the date of the applicable Change of Control Notice and ending at the close of business on the second Trading Day preceding the applicable Repurchase Date (such period, the “Cash Payment Change of Control Conversion Period”), then the number of shares of Common Stock issuable in respect of the Securities being converted by such Holder shall be increased on the manner set forth below; provided that if the Stock Price (as defined below) in such transaction is greater than the Table Price (as defined below) of $40.00 or less than the Table Price of $5.92 (subject in each case to adjustment in the same manner as the Conversion Price) the number of shares issuable upon such conversion shall not be increased. For the avoidance of doubt, the increase provided for in this Section 10.1(c) shall only be made with respect to the Securities being converted during the Cash Payment Change of Control Conversion Period and shall not be effective as to any Securities not so converted. The number of additional shares of the Common Stock to be received per $1,000 principal amount of Securities, will be determined by the Company by reference to the table attached as Schedule A hereto (the “Schedule A Table”) based on the date the Change of Control became effective as set forth in the Company’s Change of Control Notice (the “Effective Date”) and the price paid per share of Common Stock in the corporate transaction that gives rise to the Cash Payment Change of Control (the “Stock Price”) as such Stock Price corresponds to the prices set forth in the left column of the Schedule A Table (the “Table Prices”); provided that if a Holder of the Common Stock receives only cash in such corporate transaction, the Stock Price shall be the cash amount paid per share. In all other cases, the Stock Price will be the average closing stock price per share of the Common Stock (or any security into which the Common Stock has been converted in connection with the Cash Payment Change of Control) on the five consecutive Trading Days beginning on the second Trading Day after the date of which the Company mailed the Change of Control Notice pursuant to Section 3.8(c), provided, however, that if, in connection with a Cash Payment Change of Control, all or a portion of the Common Stock is converted into cash or some other consideration (other than publicly traded securities), the Stock Price will be determined based on the face amount of the cash received or the fair market value of such other consideration received, in each case per share of Common Stock and on a weighted average basis; provided further that if the Stock Price is between two Table Prices on the Schedule A Table or the Effective Date of the applicable Change of Control is between two Effective Dates in the Schedule A Table, the Company shall determine the number of additional shares of Common Stock to be issued upon such conversion by a straight-line interpolation between the number of additional shares set forth for the higher and lower Table Prices and the two Effective Dates, based on a 365 day year, as applicable. The Table Prices set forth in the left column of the Schedule A Table will be adjusted on each occasion when the Conversion Price is adjusted. The adjusted Table Prices will equal the Table Prices applicable immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the Conversion Price as so adjusted and the denominator of which is the Conversion Price immediately prior to the adjustment.
(d) A Holder may convert a portion of the principal amount of a such Security if such the portion is $1,000 principal amount or an integral multiples multiple of $1,000 principal amount. Provisions of this Indenture that apply to conversion of all of a Security also apply to conversion of a portion of such Securityit.
(E) Any ADSs that are issued upon conversion of a Security shall bear the Private Placement Legend until the earlier of the first anniversary of the later of the issue date and the last date on which the Company or any Affiliate was the owner of such shares or the Security (or any predecessor security) from which such shares were converted (or such longer period of time as may be required under the Securities Act or applicable state securities laws, as set forth in an Opinion of Counsel, unless otherwise agreed by the Company and the Holder thereof).
Appears in 1 contract
Samples: Indenture (Terremark Worldwide Inc)