Common use of Conversion Procedure; Conversion Price; Fractional Shares Clause in Contracts

Conversion Procedure; Conversion Price; Fractional Shares. Each Security shall be convertible at the office of the Conversion Agent into fully paid and nonassessable shares (calculated to the nearest 1/100th of a share) of Common Stock. The Security will be converted into shares of Common Stock at the Conversion Price therefor. No payment or adjustment shall be made in respect of dividends on the Common Stock or accrued interest on a converted Security, except as described in Section 9.9 hereof. The Company shall not issue any fraction of a share of Common Stock in connection with any conversion of Securities, but instead shall, subject to Section 9.3(k) hereof, make a cash payment (calculated to the nearest cent) equal to such fraction multiplied by the Sale Price of the Common Stock on the last Trading Day prior to the date of conversion. Notwithstanding the foregoing, a Security in respect of which a Holder has delivered a Change of Control Purchase Notice exercising such Holder's option to require the Company to repurchase such Security may be converted only if such notice of exercise is withdrawn in accordance with the Section 3.8 hereof.

Appears in 2 contracts

Samples: Indenture (Memberworks Inc), Artesyn Technologies Inc

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Conversion Procedure; Conversion Price; Fractional Shares. (a) Each Security shall be convertible at the office of the Conversion Agent into fully paid and nonassessable shares (calculated to the nearest 1/100th of a share) of Common StockStock on the Conversion Date. The Security will be converted into shares of Common Stock at the Conversion Price therefor. No payment or adjustment shall be made in respect of dividends on the Common Stock or accrued interest on a converted Security, except as described in Section 9.9 11.9 hereof. The Company shall not issue any fraction of a share of Common Stock in connection with any conversion of Securities, but instead shall, subject to Section 9.3(k11.3(h) hereof, make a cash payment (calculated to the nearest cent) equal to such fraction multiplied by the Sale Closing Price of the Common Stock on the last Trading Day prior to the date of conversion. Notwithstanding the foregoing, a Security in respect of which a Holder has delivered a Change of Control Purchase Notice exercising such Holder's option to require the Company to repurchase such Security may be converted only if such notice of exercise is withdrawn in accordance with the Section 3.8 hereof.

Appears in 1 contract

Samples: Pg&e Corp

Conversion Procedure; Conversion Price; Fractional Shares. (a) Each Security shall be convertible at the office of the Conversion Agent into fully paid and nonassessable shares (calculated to the nearest 1/100th of a share) of Common Stock. The Security will be converted into shares of Common Stock at the Conversion Price therefor. No payment or adjustment shall be made in respect of dividends on the Common Stock or accrued interest or accrued and unpaid additional interest or contingent interest, if any, on a converted Security, except as described in Section 9.9 10.9 hereof. The Company shall not issue any fraction of a share of Common Stock in connection with any conversion of Securities, but instead shall, subject to Section 9.3(k10.3(h) hereof, make a cash payment (calculated to the nearest cent) equal to such fraction multiplied by the Sale Price of the Common Stock on the last Trading Day prior to the date of conversion. Notwithstanding the foregoing, a Security in respect of which a Holder has delivered a Purchase Notice or Change of Control Purchase Notice exercising such Holder's option to require the Company to repurchase such Security may be converted only if such notice of exercise is withdrawn in accordance with the Section 3.8 3.10 hereof.

Appears in 1 contract

Samples: Indenture (Odyssey Re Holdings Corp)

Conversion Procedure; Conversion Price; Fractional Shares. (a) Each Security Debenture shall be convertible at the office of the Conversion Agent into fully paid and nonassessable shares (calculated to the nearest 1/100th of a share) of Common Stock. The Security Debentures will be converted into shares of Common Stock at the Conversion Price therefor. No payment or adjustment shall be made in respect of dividends on the Common Stock or accrued interest on a converted SecurityDebenture, except as described in Section 9.9 hereofthis Article 10. The Company shall not issue any fraction of a share of Common Stock in connection with any conversion of SecuritiesDebentures, but instead shall, subject to Section 9.3(k10.3(k) hereof, make a cash payment (calculated to the nearest cent) equal to such fraction multiplied by the Sale Price of the Common Stock on the last Trading Day prior to the date of conversionConversion Date. Notwithstanding the foregoing, a Security Debenture in respect of which a Holder has delivered a Change of Control Purchase Company Notice exercising such Holder's option to require the Company to repurchase such Security Debenture may be converted only if such notice of exercise is withdrawn in accordance with the Section 3.8 3.9 hereof.

Appears in 1 contract

Samples: Indenture (Gtech Holdings Corp)

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Conversion Procedure; Conversion Price; Fractional Shares. (a) Each Security CODES shall be convertible at the office of the Conversion Agent into fully paid and nonassessable shares (calculated to the nearest 1/100th of a share) of Common Stock. The Security CODES will be converted into shares of Common Stock at the Conversion Price therefor. No payment or adjustment shall be made in respect of dividends on the Common Stock or accrued interest on a converted SecurityCODES, except as described in Section 9.9 12.9 hereof. The Company shall not issue any fraction of a share of Common Stock in connection with any conversion of SecuritiesCODES, but instead shall, subject to Section 9.3(k12.3(h) hereof, make a cash payment (calculated to the nearest cent) equal to such fraction multiplied by the Sale Price of the Common Stock on the last Trading Day prior to the date of conversion. Notwithstanding the foregoing, a Security CODES in respect of which a Holder has delivered a Change of Control Purchase Repurchase Notice exercising such Holder's ’s option to require the Company to repurchase such Security CODES may be converted only if such notice of exercise is withdrawn in accordance with the Section 3.8 11.3 hereof.

Appears in 1 contract

Samples: Indenture (Apogent Technologies Inc)

Conversion Procedure; Conversion Price; Fractional Shares. (a) Each Security shall be convertible at the office of the Conversion Agent into fully paid and nonassessable shares (calculated to the nearest 1/100th of a share) of Common Stock. The Security will be converted into shares of Common Stock at the Conversion Price therefor. No payment or adjustment shall be made in respect of dividends on the Common Stock or accrued Original Issue Discount or contingent interest on a converted Security, except as described in Section 9.9 11.3 hereof. The Company shall not issue any fraction of a share of Common Stock in connection with any conversion of Securities, but instead shall, subject to Section 9.3(k) hereof, shall make a cash payment (calculated to the nearest cent) equal to such fraction multiplied by the Sale Price of the Common Stock on the last Trading Day prior to the date of conversion. Notwithstanding the foregoing, a Security in respect of which a Holder has delivered a Change of Control Purchase Notice exercising such Holder's option to require the Company to repurchase such Security may be converted only if such notice of exercise is withdrawn in accordance with the Section 3.8 3.9 hereof.

Appears in 1 contract

Samples: American International Group Inc

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