Common use of Conversion Right and Conversion Rate Clause in Contracts

Conversion Right and Conversion Rate. (a) Subject to and upon compliance with the provisions of this Article VI, at the option of the Holder thereof, at any time prior to the close of business on the date of Stated Maturity, unless earlier redeemed or repurchased, any portion of the principal amount of any Note that is an integral multiple of $1,000 (provided that the principal amount of such Note to remain Outstanding after such conversion is equal to $2,000 or any integral multiple of $1,000 in excess thereof) may be converted into fully paid and non-assessable shares of Common Stock at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. In addition, in connection with any Notes called for redemption, the Company shall make the Make-whole Premium payment in cash on all such Notes called for redemption and converted during the period from the date the Company mailed the Notice of Redemption to and including the Redemption Date. (b) If any Holder has submitted Notes for repurchase upon a Fundamental Change in accordance with Article 11 hereof, such Notes submitted for repurchase may be converted only if such Holder withdraws the election for repurchase in accordance with Section 11.07 hereof. (c) The rate at which shares of Common Stock shall be delivered upon conversion (herein called the “Conversion Rate”) shall be initially 49.0557 shares of Common Stock for each $1,000 principal amount of Notes. The Conversion Rate will be adjusted under the circumstances provided in Section 6.05. All calculations under this Article shall be made to the nearest cent or to the nearest 1/10,000th of a share, as the case may be.

Appears in 1 contract

Samples: Indenture (Ciena Corp)

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Conversion Right and Conversion Rate. (a) Subject to and upon compliance with the provisions of this Article VI, at the option of the Holder thereof, at any time prior to the close of business on the date of Stated Maturity, unless earlier redeemed repurchased or repurchasedredeemed, any portion of the principal amount of any Note that is an integral multiple of $1,000 (provided that the principal amount of such Note to remain Outstanding after such conversion is equal to $2,000 or any integral multiple of $1,000 in excess thereof) may be converted into fully paid and non-assessable shares of Common Stock at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. In addition, in connection with conversion (provided that the principal amount of any Notes called for redemption, the Company shall make the Make-whole Premium payment in cash on all such Notes called for redemption and converted during the period from the date the Company mailed the Notice to remain outstanding after such conversion is equal to $1,000 or any integral multiple of Redemption to and including the Redemption Date$1,000 in excess thereof). (b) If any Holder has submitted Notes for repurchase upon a Fundamental Change in accordance with Article 11 Section 3.7 hereof, such Notes submitted for repurchase may be converted only if such Holder withdraws the election for repurchase in accordance with Section 11.07 3.7 hereof. (c) Each $1,000 principal amount of Notes converted into shares of Common Stock shall initially be converted at a Conversion Price of $9.55 per share. The rate at which shares of Common Stock shall be delivered upon conversion (herein called the "Conversion Rate") shall be initially 49.0557 104.7120 shares of Common Stock for each $1,000 principal amount of Notes. The Conversion Rate will be adjusted under the circumstances provided in Section 6.056.5. All calculations under this Article shall be made to the nearest 1/10th cent or to the nearest 1/10,000th 1/10,000ths of a share, as the case may be.

Appears in 1 contract

Samples: Indenture (Enzon Pharmaceuticals Inc)

Conversion Right and Conversion Rate. (a) Subject to and upon compliance with the provisions of this Article VI, at the option of the Holder thereof, at any time prior to the close of business on the date of Stated business day immediate prior to Maturity, unless the Notes have been earlier redeemed or repurchasedrepurchased by the Company, all or any portion of the principal amount of any Note that is an integral multiple of $1,000 (provided that the principal amount of such Note to remain Outstanding outstanding after such conversion is equal to $2,000 1,000 or any integral multiple of $1,000 in excess thereof) may be converted into fully paid and non-assessable shares of Common Stock at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. In addition, in connection with any Notes called for redemption, the Company shall make the Make-whole Premium payment in cash on all such Notes called for redemption and converted during the period from the date the Company mailed the Notice of Redemption to and including the Redemption Date. (b) If any Holder has submitted Notes for repurchase upon a Fundamental Change in accordance with Article 11 Section 5.8(c) hereof, such Notes submitted for repurchase may be converted only if such Holder withdraws the election for repurchase in accordance with Section 11.07 5.9 hereof. (c) Each $1,000 principal amount of notes converted into shares of Common Stock shall initially be converted at a Conversion Price of $23.51 per share of Common Stock. The initial rate at which shares of Common Stock shall be delivered upon conversion (herein called the “Conversion Rate”) shall be initially 49.0557 approximately 42.5351 shares of Common Stock for each $1,000 principal amount of Notes. The Applicable Conversion Rate Price will be adjusted under the circumstances provided in Section 6.056.5. An adjustment to the Applicable Conversion Price will result in a corresponding inverse adjustment to the Applicable Conversion Rate. All calculations under this Article shall be made to the nearest 1/10th cent or to the nearest 1/10,000th 1/10,000ths of a share, as the case may be.

Appears in 1 contract

Samples: Indenture (Stillwater Mining Co /De/)

Conversion Right and Conversion Rate. (a) Subject to and upon compliance with the provisions of this Article VI, at the option of the Holder thereof, at any time prior to the close of business on the date of Stated Maturity, unless earlier redeemed or repurchased, any portion of the principal amount of any Note that is an integral multiple of $1,000 (provided that the principal amount of such Note to remain Outstanding after such conversion is equal to $2,000 or any integral multiple of $1,000 in excess thereof) may be converted into fully paid and non-assessable shares of Common Stock at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. In addition, in connection with any Notes called for redemption, the Company shall make the Make-whole Premium payment in cash on all such Notes called for redemption and converted during the period from the date the Company mailed the Notice of Redemption to and including the Redemption Date. (b) If any Holder has submitted Notes for repurchase upon a Fundamental Change in accordance with Article 11 hereof, such Notes submitted for repurchase may be converted only if such Holder withdraws the election for repurchase in accordance with Section 11.07 hereof. (c) The rate at which shares of Common Stock shall be delivered upon conversion (herein called the “Conversion Rate”) shall be initially 49.0557 49.5872 shares of Common Stock for each $1,000 principal amount of Notes. The Conversion Rate will be adjusted under the circumstances provided in Section 6.05. All calculations under this Article shall be made to the nearest cent or to the nearest 1/10,000th of a share, as the case may be.

Appears in 1 contract

Samples: Indenture (Ciena Corp)

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Conversion Right and Conversion Rate. (a) Subject to and upon compliance with the provisions of this Article VI, at the option of the Holder thereof, at any time prior to the close of business on the date of Stated Maturity, unless earlier redeemed or repurchased, any portion of the principal amount of any Note that is an integral multiple of $1,000 (provided that the principal amount of such Note security to remain Outstanding outstanding after such conversion is equal to $2,000 or any integral multiple of $1,000 in excess thereof) may be converted into fully paid and non-assessable shares of Common Stock at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. In addition, in connection with any Notes called for redemption, the Company shall make the Make-whole Premium payment in cash on all such Notes called for redemption and converted during the period from the date the Company mailed the Notice of Redemption to and including the Redemption Date. (b) If any Holder has submitted Notes for repurchase upon a Fundamental Change in accordance with Article 11 Section 3.7(g) hereof, such Notes submitted for repurchase may be converted only if such Holder withdraws the election for repurchase in accordance with Section 11.07 3.7 hereof. (c) Each $1,000 principal amount of notes converted into shares of Common Stock shall initially will be converted at a Conversion Price of $[ ] per share. The rate at which shares of Common Stock shall be delivered upon conversion (herein called the “Conversion Rate”) shall be initially 49.0557 [ ] shares of Common Stock for each $1,000 principal amount of Notes. The Conversion Rate will be adjusted under the circumstances provided in Section 6.056.5. All calculations under this Article shall be made to the nearest 1/10th cent or to the nearest 1/10,000th 1/10,000ths of a share, as the case may be.

Appears in 1 contract

Samples: Indenture (Ciena Corp)

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