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 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. (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 49.5872 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
Sources: Indenture (Ciena Corp)
Conversion Right and Conversion Rate. (a) Subject to and upon compliance with the provisions of this Article VI6, at the option of the Holder thereof, at any time prior to the close of business on the Business Date immediately preceding the date of Stated Maturity, unless earlier 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 a conversion rate (herein called the “Conversion Rate”), determined as hereinafter provided, in effect at the time of conversion. The Conversion Rate shall be initially 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.
(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 49.5872 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
Sources: Indenture (Ciena Corp)
Conversion Right and Conversion Rate. (a) Subject to and upon compliance with the provisions of this Article VI6, at the option of the Holder thereof, at any time prior to the close of business on the Business Day immediately preceding the date of Stated Maturity, unless earlier 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 a conversion rate (herein called the “Conversion Rate”), determined as hereinafter provided, in effect at the time of conversion. The Conversion Rate shall be initially 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.
(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 49.5872 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
Sources: Indenture (Ciena Corp)
Conversion Right and Conversion Rate. (a) Subject to and upon compliance with the provisions of this Article VIArticle, at the option of the Holder thereof, at any time prior to the close of business on the date of Stated Maturity, unless earlier repurchased, Note or any portion of the principal amount of any Note that thereof which is an integral $1,000 or a whole multiple of $1,000 (provided that may be converted at the principal amount thereof, or of such Note to remain Outstanding after such conversion is equal to $2,000 or any integral multiple of $1,000 in excess portion thereof) may be converted , into duly authorized, fully paid and non-assessable shares of nonassessable Common Stock Shares, at the Conversion RateRate (the "Conversion Obligation"), determined as hereinafter provided, in effect at the time of conversion.
(b) If any Holder has submitted Notes for repurchase upon . Such conversion right shall expire at the close of business on the final maturity date of the Notes. In the case of a Fundamental Change in accordance for which the Holder exercises its repurchase right with Article 11 hereofrespect to a Note or portion thereof, such Notes submitted for repurchase may be converted only if such Holder withdraws conversion right in respect of the election for repurchase in accordance with Section 11.07 hereof.
(c) Note or portion thereof shall expire at the close of business on the Business Day immediately preceding the Fundamental Change Purchase Date. The rate at which shares of Common Stock Shares shall be delivered upon conversion (herein called the “Conversion Rate”) shall be initially 49.5872 shares of Common Stock for each per $1,000 principal amount of NotesNotes (the "Conversion Rate") shall be initially equal to 533.4756, which is equal to an initial Conversion Price of approximately $1.87 per share. The Conversion Rate will shall be adjusted under the circumstances in certain instances as provided in paragraphs (a), (b), (c), (d), (e), (f), (g)and (i) of 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 be10.04 hereof.
Appears in 1 contract
Sources: Indenture (Xoma LTD /De/)