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, at the option of the Holder thereof, any Security or any portion of the principal amount thereof which is $1,000 or an integral multiple of $1,000 may be converted at the principal amount thereof, or of such portion thereof, into the number of duly authorized, fully paid and nonassessable shares of Common Stock at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall expire at the close of business on September 27, 2012. (b) In the case of a Fundamental Change for which the Holder exercises its Repurchase Right with respect to a Security or portion thereof, such conversion right in respect of the Security or portion thereof shall expire at the close of business on the Business Day preceding the Repurchase Date. (c) The rate at which shares of Common Stock shall be delivered upon conversion (the “Conversion Rate”) shall be initially equal to 24.0964 shares of Common Stock per $1,000 principal amount of Securities. The Conversion Rate shall be adjusted in certain instances as provided in paragraphs (a), (b), (c), (d), (e), (f), (h) and (l) of Section 12.4 hereof. (d) If a Holder converts its Securities in connection with a Fundamental Change, such Holder will be entitled to receive an amount, payable in Common Stock equal to the Make-Whole Premium pursuant to Section 12.13, in addition to the shares of Common Stock deliverable upon conversion of the Securities.

Appears in 1 contract

Sources: Indenture (Cyberonics Inc)

Conversion Right and Conversion Rate. (a) Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Security or any portion of the principal amount thereof which is $1,000 or an integral multiple of $1,000 may be converted at the principal amount thereof, or of such portion thereof, into the number of duly authorized, fully paid and nonassessable shares of Common Stock Stock, at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall expire may be exercised at any time prior to the close Stated Maturity of business on September 27, 2012. (b) the principal of the Securities. In the case of a Fundamental Change for which the Holder exercises its Repurchase Right with respect to a Security or portion thereofthereof is called for redemption, such conversion right in respect of the Security or the portion thereof so called, shall expire at the close of business on the Business Day next preceding the Redemption Date, unless the Company defaults in making the payment due upon redemption. Securities in respect of which a Fundamental Change Repurchase Date. (cNotice has been given by the Holder thereof may not be converted into shares of Common Stock pursuant to this Article XII unless such Fundamental Change Repurchase Notice has first been validly withdrawn in accordance with Section 11.3(f) with respect to the Securities to be converted. The rate at which shares of Common Stock shall be delivered upon conversion (the “Conversion Rate”) shall be initially equal to 24.0964 46.4727 shares of Common Stock per $1,000 principal amount of Securities. The Conversion Rate shall be adjusted in certain instances as provided in paragraphs (a), (b), (c), (d), (e), (f), (h) and (li) of Section 12.4 hereof. (d) If a Holder converts its Securities in connection with a Fundamental Change, such Holder will be entitled to receive an amount, payable in Common Stock equal to the Make-Whole Premium pursuant to Section 12.13, in addition to the shares of Common Stock deliverable upon conversion of the Securities.

Appears in 1 contract

Sources: Indenture (Nektar Therapeutics)

Conversion Right and Conversion Rate. (a) Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Security or any portion of the principal amount thereof which is $1,000 or an integral multiple of $1,000 may be converted at the principal amount thereof, or of such portion thereof, into the number of duly authorized, fully paid and nonassessable shares of Common Stock at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall expire at the close of business on September 27May 16, 2012. (b) In case a Security or portion thereof is called for redemption, such conversion right in respect of the Security or the portion so called, shall expire at the close of business on the Business Day immediately preceding the Redemption Date, unless the Company defaults in making the payment due upon redemption. In the case of a Fundamental Change for which the Holder exercises its Repurchase Right with respect to a Security or portion thereof, such conversion right in respect of the Security or portion thereof shall expire at the close of business on the Business Day preceding the Repurchase Date. (c) The rate at which shares of Common Stock shall be delivered upon conversion (the “Conversion Rate”) shall be initially equal to 24.0964 56.5475 shares of Common Stock per $1,000 principal amount of Securities. The Conversion Rate shall be adjusted in certain instances as provided in paragraphs (a), (b), (c), (d), (e), (f), (h) and (l) of Section 12.4 hereof. (d) If a Holder converts its Securities in connection with after receipt of a Company Notice and prior to the Repurchase Date, and the Fundamental ChangeChange related to the Company Notice constitutes a Cash Buy-Out, such Holder will be entitled to receive an amount, payable in cash or Common Stock Stock, at the option of the Company, equal to the Make-Whole Premium pursuant to Section 12.13Premium, in addition to the shares of Common Stock deliverable upon conversion of the Securities.

Appears in 1 contract

Sources: Indenture (Cv Therapeutics Inc)

Conversion Right and Conversion Rate. (a) Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Security or any portion of the principal amount thereof which is $1,000 or an integral multiple of $1,000 may be converted at the principal amount thereof, or of such portion thereof, into the number of duly authorized, fully paid and nonassessable shares of Common Stock at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall expire at the close of business on September 27August 16, 20122013. (b) In case a Security or portion thereof is called for redemption, such conversion right in respect of the Security or the portion so called, shall expire at the close of business on the Business Day immediately preceding the Redemption Date, unless the Company defaults in making the payment due upon redemption. In the case of a Fundamental Change for which the Holder exercises its Repurchase Right with respect to a Security or portion thereof, such conversion right in respect of the Security or portion thereof shall expire at the close of business on the Business Day preceding the Repurchase Date. (c) The rate at which shares of Common Stock shall be delivered upon conversion (the “Conversion Rate”) shall be initially equal to 24.0964 37.0370 shares of Common Stock per $1,000 principal amount of Securities. The Conversion Rate shall be adjusted in certain instances as provided in paragraphs (a), (b), (c), (d), (e), (f), (h) and (l) of Section 12.4 hereof. (d) If a Holder converts its Securities in connection with a Fundamental Change, such Holder will be entitled to receive an amount, payable in Common Stock equal to the Make-Whole Premium pursuant to Section 12.13, in addition to the shares of Common Stock deliverable upon conversion of the Securities.

Appears in 1 contract

Sources: Indenture (Cv Therapeutics Inc)