Common use of Conversion Upon Satisfaction of Trading Price Condition Clause in Contracts

Conversion Upon Satisfaction of Trading Price Condition. Prior to the Maturity Date or earlier Redemption, Purchase at Holder’s Option or Repurchase Upon Fundamental Change, the Securities may be surrendered for conversion into cash and, if applicable, shares of Common Stock during the five (5) consecutive Business Days immediately after any five (5) consecutive Trading Day period (such five (5) consecutive Trading Day period, the “Note Measurement Period”) in which the average Trading Price per $1,000 principal amount of the Securities was equal to or less than ninety seven percent (97%) of the average Conversion Value during the Note Measurement Period (such condition, the “Trading Price Condition”). The Bid Solicitation Agent shall not have any obligation to determine the Trading Price unless the Company has requested such determination, and the Company shall have no obligation to make such request unless a Holder of at least one million dollars ($1,000,000) in aggregate principal amount of the Securities provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Securities would be equal to or less than ninety seven percent (97%) of the product of the Closing Sale Price and the Conversion Rate. Upon receipt of such evidence, the Company shall instruct the Bid Solicitation Agent to determine the Trading Price per $1,000 principal amount of the Securities for each of the five (5) successive Trading Days immediately after the Company receives such evidence and on each Trading Day thereafter until the first Trading Day on which the Trading Price Condition is no longer satisfied. For purposes of this paragraph, the “Conversion Value” per $1,000 principal amount of Securities, on a given Trading Day, means the product of the Closing Sale Price on such Trading Day and the Conversion Rate in effect on such Trading Day.

Appears in 3 contracts

Samples: Supplemental Indenture (Health Care Reit Inc /De/), Supplemental Indenture (Health Care Reit Inc /De/), Supplemental Indenture (Health Care Reit Inc /De/)

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Conversion Upon Satisfaction of Trading Price Condition. Prior to the close of business on the second Business Day immediately preceding the Maturity Date or and subject to earlier Redemption, Purchase at Holder’s Option or Repurchase Upon Fundamental Changerepurchase pursuant to Article III, the Securities Notes may be surrendered for conversion into cash and, if applicable, shares of Common Stock during the five (5) consecutive Business Days immediately after any five (5) consecutive Trading Day period (such five (5) consecutive Trading Day period, the “Note Measurement Period”) in which the average Trading Price per $1,000 principal amount of the Securities Notes was equal to or less than ninety ninety-seven percent (97%) of the average Conversion Value per $1,000 principal amount of Notes during the Note Measurement Period (such condition, the “Trading Price Condition”). The Bid Solicitation Agent shall not have any obligation to determine the Trading Price unless the Company has requested such determinationdetermination in a Company Order, and the Company shall have no obligation to make such request unless a Holder of at least one $1.0 million dollars ($1,000,000) in aggregate principal amount of the Securities Notes provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Securities Notes would be equal to or less than ninety ninety-seven percent (97%) of the product Conversion Value per $1,000 principal amount of the Closing Sale Price and the Conversion RateNotes on that Trading Day. Upon receipt of such evidence, the Company shall instruct the Bid Solicitation Agent in a Company Order to determine the Trading Price per $1,000 principal amount of the Securities Notes for each of the five (5) successive Trading Days immediately after the Company receives such evidence and on each Trading Day thereafter until the first Trading Day on which the Trading Price Condition is no longer satisfied. The Bid Solicitation Agent will have no liability for the accuracy, sufficiency or availability of information it obtains or fails to obtain at the Company’s request, including any bid quotation or Trading Price with respect to the Notes. For purposes of this paragraph, the “Conversion Value” per $1,000 principal amount of SecuritiesNotes, on a given Trading Day, means the product of the Closing Sale Price on such Trading Day and the Conversion Rate in effect on such Trading Day.

Appears in 2 contracts

Samples: First Supplemental Indenture (Alpha Natural Resources, Inc.), First Supplemental Indenture (Massey Energy Co)

Conversion Upon Satisfaction of Trading Price Condition. Prior to the Maturity Date November 15, 2025 or earlier Redemptionredemption, Purchase at Holder’s Option repurchase on a Repurchase Date or Repurchase Upon Fundamental Change, the Securities may be surrendered for conversion into cash and, if applicable, shares of Common Stock Stock, cash or a combination thereof, at the Company’s election, as set forth in Section 10.02, during the five (5) consecutive Business Days immediately after any five (5) consecutive Trading Day period (such five (5) consecutive Trading Day period, the “Note Measurement Period”) in which the average Trading Price per $1,000 principal amount of the Securities was equal to or less than ninety seven eight percent (9798%) of the average Conversion Value per $1,000 principal amount of Securities during the Note Measurement Period (such condition, the “Trading Price Condition”). The Bid Solicitation Agent shall not have any obligation to determine the Trading Price of the Securities unless the Company has requested such determination, and the Company shall have no obligation to make such request unless a Holder of at least one five million dollars ($1,000,0005,000,000) in aggregate principal amount of the Securities provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Securities would be equal to or less than ninety seven eight percent (9798%) of the product of the Closing Sale Price and the Conversion RateValue per $1,000 principal amount of Securities. Upon receipt of such evidence, the Company shall instruct the Bid Solicitation Agent to determine the Trading Price per $1,000 principal amount of the Securities for each of the five (5) successive Trading Days immediately after the Company receives such evidence and on each Trading Day thereafter until the first Trading Day on which the Trading Price Condition is no longer satisfied. For purposes of this paragraph, the “Conversion Value” per $1,000 principal amount of Securities, on a given Trading Day, means the product of the Closing Sale Price on such Trading Day and the Conversion Rate in effect on such Trading Day.

Appears in 2 contracts

Samples: Indenture (Arris Group Inc), Indenture (Arris Group Inc)

Conversion Upon Satisfaction of Trading Price Condition. Prior to the Maturity Date or earlier Redemption, Purchase at Holder’s Option or Repurchase Upon Fundamental Change, the The Securities may be surrendered for conversion into cash and, if applicable, shares of Common Stock during the five (5) consecutive Business Days immediately after any five (5) consecutive Trading Day period (such five (5) consecutive Trading Day period, the “Note Measurement Period”) in which the average Trading Price per $1,000 principal amount of the Securities was equal to or less than ninety seven percent (97%) of the average Conversion Value per $1,000 principal amount of Securities (as defined below) during the Note Measurement Period (such condition, the “Trading Price Condition”). The Bid Solicitation Agent shall not have any obligation to determine the Trading Price unless the Company has requested such determination, and the Company shall have no obligation to make such request unless a Holder of at least one million dollars ($1,000,000) in aggregate principal amount of the Securities provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Securities would be equal to or less than ninety seven percent (97%) of the product of the Closing Sale Price and the Conversion Rate. Upon receipt of such evidence, the Company shall instruct the Bid Solicitation Agent to determine the Trading Price per $1,000 principal amount of the Securities for each of the five (5) successive Trading Days immediately after the Company receives such evidence and on each Trading Day thereafter until the first Trading Day on which the Trading Price Condition is no longer satisfied. For purposes of this paragraph, the “Conversion Value” per $1,000 principal amount of Securities, on a given Trading Day, means the product of the Closing Sale Price on such Trading Day and the Conversion Rate in effect on such Trading Day.

Appears in 2 contracts

Samples: Indenture (Silver Standard Resources Inc), Supplemental Indenture (Kendle International Inc)

Conversion Upon Satisfaction of Trading Price Condition. Prior to the Maturity Date or earlier RedemptionAugust 1, Purchase at Holder’s Option or Repurchase Upon Fundamental Change2029, the Securities may be surrendered for conversion into cash and, if applicable, shares of Common Stock during the five (5) consecutive Business Days immediately Day period after any five ten (510) consecutive Trading Day period (such five ten (510) consecutive Trading Day period, the “Note Measurement Period”) in which the average Trading Price per $1,000 principal amount of Securities, as determined following a request by a Holder of Securities in accordance with the Securities procedures set forth in the immediately following paragraph, for each Trading Day of such Measurement Period was equal to or less than ninety seven five percent (9795%) of the average product of the Last Reported Sale Price per share of the Common Stock and the Conversion Value during the Note Measurement Period Rate on each such Trading Day (such condition, the “Trading Price Condition”). The Bid Solicitation Agent shall not have any no obligation to determine the Trading Price of the Securities unless the Company has requested such determination, ; and the Company shall have no obligation to make such request unless a Holder of at least one million dollars ($1,000,000) in aggregate principal amount of the Securities provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Securities would be equal to or less than ninety seven five percent (9795%) of the product of the Closing Last Reported Sale Price per share of the Common Stock and the applicable Conversion Rate. Upon receipt of At such evidencetime, the Company shall instruct the Bid Solicitation Agent to determine the Trading Price of the Securities beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of the Securities for each is greater than or equal to ninety five percent (95%) of the five (5) successive Trading Days immediately after product of the Company receives such evidence Last Reported Sale Price per share of the Common Stock and on each Trading Day thereafter until the first Trading Day on which applicable Conversion Rate. If the Trading Price Condition is no longer has been satisfied. For purposes of this paragraph, the “Conversion Value” Company shall so notify Holders. If, at any time after the Trading Price Condition has been satisfied, the Trading Price per $1,000 principal amount of Securities, Securities on a given Trading Day, means Day is equal to or greater than ninety five percent (95%) of the product of the Closing Last Reported Sale Price on such Trading Day per share of the Common Stock and the applicable Conversion Rate in effect on for such Trading Day, then the Company shall so notify Holders.

Appears in 2 contracts

Samples: First Supplemental Indenture (Jefferies Group Capital Finance Inc.), First Supplemental Indenture (Jefferies Group Inc /De/)

Conversion Upon Satisfaction of Trading Price Condition. Prior to the Maturity Date or earlier Redemption, Purchase at Holder’s Option or Repurchase Upon Fundamental Change, the The Securities may be surrendered for conversion into cash and, if applicable, shares of Common Stock during the five (5) consecutive Business Days immediately after any five (5) consecutive Trading Day period (such five (5) consecutive Trading Day period, the “Note Measurement Period”) in which the average Trading Price per $1,000 principal amount of the Securities was equal to or less than ninety seven percent (97%) of the average Conversion Value per $1,000 principal amount of Securities (as defined below) during the Note Measurement Period (such condition, the “Trading Price Condition”). The Bid Solicitation Agent shall not have any obligation to determine the Trading Price unless the Company has requested such determination, and the Company shall have no obligation to make such request unless a Holder of at least one million dollars ($1,000,000) in aggregate principal amount of the Securities provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Securities would be equal to or less than ninety seven percent (97%) of the product Conversion Value per $1,000 principal amount of the Closing Sale Price and the Conversion RateSecurities. Upon receipt of such evidence, the Company shall instruct the Bid Solicitation Agent to determine the Trading Price per $1,000 principal amount of the Securities for each of the five (5) successive Trading Days immediately after the Company receives such evidence and on each Trading Day thereafter until the first Trading Day on which the Trading Price Condition is no longer satisfied. For purposes of this paragraph, the “Conversion Value” per $1,000 principal amount of Securities, on a given Trading Day, means the product of the Closing Sale Price on such Trading Day and the Conversion Rate in effect on such Trading Day.

Appears in 2 contracts

Samples: Indenture (Silver Standard Resources Inc), Supplemental Indenture (Kendle International Inc)

Conversion Upon Satisfaction of Trading Price Condition. Prior to the Maturity Date or earlier Redemption, Purchase at Holder’s Option or Repurchase Upon Fundamental Change, the The Securities may be surrendered for conversion into cash and, if applicable, shares of Common Stock during the five (5) consecutive Business Days immediately Day period after any five (5) consecutive Trading Day period (such five (5) consecutive Trading Day period, the "Note Measurement Period") in which the average Trading Price per $1,000 principal amount of the Securities over the Note Measurement Period was equal to or less than ninety seven five percent (9795%) of the average Conversion Value (as defined below) during the Note Measurement Period (such condition, the "Trading Price Condition"). The Bid Solicitation Agent shall not have any obligation to determine the Trading Price unless the Company has requested such determination, and the Company shall have no obligation to make such request unless a Holder of at least one million dollars ($1,000,000) in aggregate principal amount of the Securities provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Securities would be equal to or less than ninety seven five percent (9795%) of the product of the Closing Sale Price and the Conversion Rate. Upon receipt of such evidence, the Company shall instruct the Bid Solicitation Agent to determine the Trading Price per $1,000 principal amount of the Securities for each of the five (5) successive Trading Days immediately after the Company receives such evidence and on each Trading Day thereafter until the first Trading Day on which the Trading Price Condition is no longer satisfied. For purposes of this paragraph, the "Conversion Value" per $1,000 principal amount of Securities, on a given Trading Day, means the product of the Closing Sale Price on such Trading Day and the Conversion Rate in effect on such Trading Day.

Appears in 1 contract

Samples: Indenture (Playboy Enterprises Inc)

Conversion Upon Satisfaction of Trading Price Condition. Prior to the Maturity Date or earlier RedemptionOctober 1, Purchase at Holder’s Option or Repurchase Upon Fundamental Change2014, the Securities a Holder may be surrendered surrender its Notes for conversion into cash and, if applicable, shares of Common Stock during the five (5) consecutive Business Days immediately Day period after any five (5) 10 consecutive Trading Day period (such five (5) consecutive Trading Day period, the “Note Measurement Period”) in which the average Trading Price per $1,000 principal amount of Notes, as determined following a request by a Holder in accordance with the Securities procedures set forth in this Section 11.01(a)(ii), for each Trading Day of the Measurement Period was equal to or less than ninety seven percent (97%) % of the average product of the Last Reported Sale Price of the Common Stock and the Conversion Value during the Note Measurement Period (Rate for such conditionTrading Day. In connection with any conversion in accordance with this Section 11.01(a)(ii), the “Trading Price Condition”). The Bid Solicitation Agent shall not have any no obligation to determine the Trading Price of the Notes unless requested by the Company has requested such determination, Company; and the Company shall have no obligation to make such request unless a Holder of at least one million dollars ($1,000,000) in aggregate principal amount of the Securities provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Securities Notes would be equal to or less than ninety seven percent (97%) % of the product of the Closing Last Reported Sale Price of the Common Stock and the Conversion Rate. Upon receipt of Promptly after receiving such evidence, the Company shall instruct the Bid Solicitation Agent to determine the Trading Price of the Notes beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of the Securities Notes for each any Trading Day is greater than or equal to 97% of the five (5) successive Trading Days immediately after product of the Company receives Last Reported Sale Price of the Common Stock and the Conversion Rate. If, upon presentation of such reasonable evidence and on each Trading Day thereafter until by the first Trading Day on which Holder, the Bid Solicitation Agent does not make such determination, then the Trading Price Condition is no longer satisfied. For purposes of this paragraph, the “Conversion Value” per $1,000 principal amount of Securities, on a given Trading Day, means Notes shall be deemed to be less than 97% of the product of the Closing Last Reported Sale Price on such of the Common Stock and the Conversion Rate. If pursuant to the foregoing paragraph the Trading Day Price per $1,000 principal amount of Notes is less than 97% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate then the Company shall as promptly as practicable so notify the Holders in effect on such accordance with Section 106 of the Base Indenture. If, at any time after the Trading DayPrice per $1,000 principal amount of Notes is less than 97% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate, the Trading Price per $1,000 principal amount of Notes is greater than 97% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate then the Company shall as promptly as practicable so notify Holders in accordance with Section 106 of the Base Indenture.

Appears in 1 contract

Samples: First Supplemental Indenture (Goodrich Petroleum Corp)

Conversion Upon Satisfaction of Trading Price Condition. Prior to the Maturity Date or earlier Redemption, Purchase at Holder’s Option or Repurchase Upon Fundamental Change, the (A) A Holder may surrender its Securities may be surrendered for conversion into cash and, if applicable, shares of the Company’s Common Stock during the five (5) consecutive Business Days immediately after following any five (5) consecutive Trading Trading-Day period (such five (5) consecutive Trading Day period, the “Note Measurement Period”) in which the average Trading Price per $1,000 principal amount of Securities (as determined following a request by a Holder of the Securities in accordance with the procedures described below) for each day of that period was less than 98% of the product of the sale price of the Company’s Common Stock and the then applicable conversion rate (the “98% Trading Exception”); provided, however, that if, on the date of any conversion of the Securities pursuant to the 98% Trading Exception that is on or after February 15, 2019, the sale price of the Company’s Common Stock is greater than the applicable Conversion Price for the Securities, then the Holder shall receive upon conversion of the Securities, in lieu of Common Stock based on the then applicable conversion rate for the Holder’s Securities, cash, Common Stock or a combination of cash and Common Stock, at the Company’s option, with a value equal to or less than ninety seven percent (97%) the principal amount of the average Conversion Value during Holder’s Security plus accrued and unpaid interest, if any, as of the Note Measurement Period conversion date, which is referred to as a “principal value conversion”. (such conditionB) In connection with any conversion upon satisfaction of the condition set forth in clause (A) above, the “Trading Price Condition”). The Bid Solicitation Agent Trustee shall not have any no obligation to determine the Trading Price of the Securities unless the Company has requested such determination, and the Company shall have no obligation to make such request unless a the Holder of at least one million dollars ($1,000,000) in aggregate principal amount of the Securities provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Securities would be equal to or less than ninety seven percent (97%) 98% of the product of the Closing Sale Price sale price of the Company’s Common Stock and the Conversion Rate. Upon receipt of such evidence, then applicable conversion rate; at which time the Company shall instruct the Bid Solicitation Agent Trustee to determine the Trading Price per $1,000 principal amount of the Securities for each of beginning on the five (5) successive next Trading Days immediately after the Company receives such evidence Day and on each successive Trading Day thereafter until the first Trading Day on which the Trading Price Condition trading price is no longer satisfied. For purposes greater than or equal to 98% of this paragraph, the “Conversion Value” per $1,000 principal amount of Securities, on a given Trading Day, means the product of the Closing Sale Price on such Trading Day sale price of the Company’s Common Stock and the Conversion Rate in effect on such Trading Daythen applicable conversion rate.

Appears in 1 contract

Samples: Indenture (Equinix Inc)

Conversion Upon Satisfaction of Trading Price Condition. Prior to the Maturity Date or earlier Redemption, Purchase at Holder’s Option or Repurchase Upon Fundamental Change, the A Holder may surrender its Securities may be surrendered for conversion into cash and, if applicable, shares of Common Stock during the five (5) consecutive Business Days immediately Trading Day period after any five (5) consecutive Trading Day period (such five (5) consecutive Trading Day period, the “Note Measurement Period”) in which the average Trading Price per One Thousand Dollars ($1,000 1,000) principal amount of Securities, as determined following a request by a Holder in accordance with the Securities procedures set forth in this Section 12.01(a)(ii), for each Trading Day of the Measurement Period was equal to or less than ninety seven eight percent (9798%) of the average product of the Last Reported Sale Price of the Common Stock and the applicable Conversion Value during the Note Measurement Period (Rate for such conditionTrading Day. In connection with any exchange in accordance with this Section 12.01(a)(ii), the “Trading Price Condition”). The Bid Solicitation Agent Trustee shall not have any no obligation to determine the Trading Price of the Securities unless requested by the Company has requested such determination, Company; and the Company shall have no obligation to make such request unless a Holder of at least one million dollars ($1,000,000) in aggregate principal amount of the Securities provides the Company with reasonable evidence that the Trading Price per One Thousand Dollars ($1,000 1,000) principal amount of the Securities would be equal to or less than ninety seven eight percent (9798%) of the product of the Closing Last Reported Sale Price of the Common Stock and the applicable Conversion Rate. Upon receipt of Promptly after receiving such evidence, the Company shall instruct the Bid Solicitation Agent Trustee to determine the Trading Price of the Securities beginning on the next Trading Day and on each successive Trading Day until the Trading Price per One Thousand Dollars ($1,000 1,000) principal amount of the Securities for each of the five (5) successive Trading Days immediately after the Company receives such evidence and on each any Trading Day thereafter until the first Trading Day on which the Trading Price Condition is no longer satisfied. For purposes greater than or equal to ninety eight percent (98%) of this paragraph, the “Conversion Value” per $1,000 principal amount of Securities, on a given Trading Day, means the product of the Closing Last Reported Sale Price on such Trading Day of the Common Stock and the applicable Conversion Rate in effect on such Trading DayRate.

Appears in 1 contract

Samples: First Supplemental Indenture (Veeco Instruments Inc)

Conversion Upon Satisfaction of Trading Price Condition. Prior to the Maturity Date November 15, 2025 or earlier Redemptionredemption, Purchase at Holder’s Option repurchase on a Repurchase Date or Repurchase Upon Fundamental Change, the Securities may be surrendered for conversion into cash and, if applicable, shares of Common Stock Stock, cash or a combination thereof, at the Guarantor’s election, as set forth in Section 10.02, during the five (5) consecutive Business Days immediately after any five (5) consecutive Trading Day period (such five (5) consecutive Trading Day period, the “Note Measurement Period”) in which the average Trading Price per $1,000 principal amount of the Securities was equal to or less than ninety seven eight percent (9798%) of the average Conversion Value per $1,000 principal amount of Securities during the Note Measurement Period (such condition, the “Trading Price Condition”). The Bid Solicitation Agent shall not have any obligation to determine the Trading Price of the Securities unless the Company has requested such determination, and the Company shall have no obligation to make such request unless a Holder of at least one five million dollars ($1,000,0005,000,000) in aggregate principal amount of the Securities provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Securities would be equal to or less than ninety seven eight percent (9798%) of the product of the Closing Sale Price and the Conversion RateValue per $1,000 principal amount of Securities. Upon receipt of such evidence, the Company shall instruct the Bid Solicitation Agent to determine the Trading Price per $1,000 principal amount of the Securities for each of the five (5) successive Trading Days immediately after the Company receives such evidence and on each Trading Day thereafter until the first Trading Day on which the Trading Price Condition is no longer satisfied. For purposes of this paragraph, the “Conversion Value” per $1,000 principal amount of Securities, on a given Trading Day, means the product of the Closing Sale Price on such Trading Day and the Conversion Rate in effect on such Trading Day.

Appears in 1 contract

Samples: First Supplemental Indenture (Arris Group Inc)

Conversion Upon Satisfaction of Trading Price Condition. Prior to the Maturity Date or earlier Redemption, Purchase at Holder’s Option or Repurchase Upon Fundamental Change, the The Securities may be surrendered for conversion into cash, ADSs or a combination of cash and, if applicable, shares of Common Stock and ADSs during the five (5) consecutive Business Days immediately after any five (5) consecutive Trading Day period (such five (5) consecutive Trading Day period, the “Note Measurement Period”"NOTE MEASUREMENT PERIOD") in which the average Trading Price per $1,000 principal amount of the Securities was equal to or less than ninety seven percent (97%) of the average Conversion Value (as defined below) during the Note Measurement Period (such condition, the “Trading Price "TRADING PRICE Condition"). The Bid Solicitation Agent shall not have any obligation to determine the Trading Price unless the Company has requested such determinationdetermination in writing, and the Company shall have no obligation to make such request unless a Holder of at least one million dollars ($1,000,000) in aggregate principal amount of the Securities provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Securities would be equal to or less than ninety seven percent (97%) of the product of the Closing Sale Price and the Conversion Rate. Upon receipt of such evidence, the Company shall instruct the Bid Solicitation Agent in writing to determine the Trading Price per $1,000 principal amount of the Securities for each of the five (5) successive Trading Days immediately after the Company receives such evidence and on each Trading Day thereafter until the first Trading Day on which the Trading Price Condition is no longer satisfied. For purposes of this paragraph, the “Conversion Value” "CONVERSION VALUE" per $1,000 principal amount of Securities, on a given Trading Day, means the product of the Closing Sale Price on such Trading Day and the Conversion Rate in effect on such Trading Day.

Appears in 1 contract

Samples: Indenture (Suntech Power Holdings Co., Ltd.)

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Conversion Upon Satisfaction of Trading Price Condition. Prior Subject to the Maturity Date or earlier Redemption, Purchase at Holder’s Option or Repurchase Upon Fundamental Change, the Holders may surrender Securities may be surrendered in integral multiples of $1,000 principal amount for conversion into cash andor, if applicableat the Company’s option, cash and shares of Common Stock during the five (5) consecutive Business Days immediately after any five (5) consecutive Trading Day period (such five (5) consecutive Trading Day period, the “Note Measurement Period”) in which the average Trading Price per $1,000 principal amount of the Securities was equal to or less than ninety seven eight percent (9798%) of the average Conversion Value (as defined below) during the Note Measurement Period (such condition, the “Trading Price Condition”). The Bid Solicitation Agent shall not have any obligation to determine the Trading Price unless the Company has requested such determinationdetermination in writing, and the Company shall have no obligation to make such request unless a Holder of at least one million dollars ($1,000,000) in aggregate principal amount of the Securities provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Securities would be equal to or less than ninety seven eight percent (9798%) of the product of the Closing Sale Price and the Conversion RateValue. Upon receipt of such evidence, the Company shall instruct the Bid Solicitation Agent in writing to determine the Trading Price per $1,000 principal amount of the Securities for each of the five (5) successive Trading Days immediately after the Company receives such evidence and on each Trading Day thereafter until the first Trading Day on which the Trading Price Condition is no longer satisfied. For purposes of this paragraph, the “Conversion Value” per $1,000 principal amount of Securities, on a given Trading Day, means the product of the Closing Sale Price on such Trading Day and the Conversion Rate in effect on such Trading Day.

Appears in 1 contract

Samples: Indenture (Diodes Inc /Del/)

Conversion Upon Satisfaction of Trading Price Condition. Prior to the Maturity Date or earlier Redemption, Purchase at Holder’s Option or Repurchase Upon Fundamental Change, the A Holder may surrender its Securities may be surrendered of either series for conversion into cash and, if applicable, shares of Common Stock during the five (5) consecutive Business Days immediately Day period after any five (5) consecutive Trading Day period (such five (5) consecutive Trading Day period, the “Note Measurement Period”) in which the average Trading Price per $1,000 principal amount of Securities of such series, as determined following a request by a Holder in accordance with the Securities procedures set forth in this Section 12.01(a)(ii), for each day of that period was equal to or less than ninety seven percent (97%) 98% of the average product of the Last Reported Sale Price of the Common Stock and the applicable Conversion Value during the Note Measurement Period (such conditionRate. In connection with any conversion in accordance with this Section 12.01(a)(ii), the “Trading Price Condition”). The Bid Solicitation Agent shall not have any no obligation to determine the Trading Price of the Securities of either series unless requested by the Company has requested such determination, Company; and the Company shall have no obligation to make such request unless a Holder of at least one million dollars ($1,000,000) in aggregate principal amount of the Securities provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Securities of either series would be equal to or less than ninety seven percent (97%) 98% of the product of the Closing Last Reported Sale Price of the Common Stock and the applicable Conversion Rate. Upon receipt of Promptly after receiving such evidence, the Company shall instruct the Bid Solicitation Agent to determine the Trading Price of the Securities of such series beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of Securities of such series is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the applicable Conversion Rate. If the condition set forth in this Section 12.01(a)(ii) has been met, the Company shall so notify the Trustee and the Holders. If at any time after the condition set forth in this Section 12.01(a)(ii) has been met, the Trading Price per $1,000 principal amount of the applicable Securities for each is greater than 98% of the five (5) successive Trading Days immediately after the Company receives such evidence and on each Trading Day thereafter until the first Trading Day on which the Trading Price Condition is no longer satisfied. For purposes of this paragraph, the “Conversion Value” per $1,000 principal amount of Securities, on a given Trading Day, means the product of the Closing Last Reported Sale Price on such Trading Day of Common Stock and the Conversion Rate in effect on for such Trading Daydate, the Company shall so notify the Trustee and the Holders.

Appears in 1 contract

Samples: Indenture (Kyphon Inc)

Conversion Upon Satisfaction of Trading Price Condition. Prior to During the Maturity Date or earlier Redemption, Purchase at Holder’s Option or Repurchase Upon Fundamental Change, the Securities may be surrendered for conversion into cash and, if applicable, shares of Common Stock during the five ten (510) consecutive Business Days immediately Day period after any five (5) consecutive Trading Day period (such five (5) consecutive Trading Day period, the “Note Trading Price Measurement Period”) in which the average Trading Price per $1,000 principal amount of Notes, as determined following a request by a Holder in accordance with the Securities procedures set forth in this Section 10.01(2), for each day in the Trading Price Measurement Period was equal to or less than ninety seven percent (97%) 98% of the average product of the Last Reported Sale Price of the Common Stock and the applicable Conversion Value during the Note Measurement Period (such conditionRate. In connection with any conversion in accordance with this Section 10.01(2), the “Trading Price Condition”). The Bid Solicitation Agent shall not have any no obligation to determine the Trading Price of the Notes unless requested by the Company has requested such determination, Company; and the Company shall have no obligation to make such request unless a Holder of at least one million dollars ($1,000,000) in aggregate principal amount of the Securities provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Securities Notes would be equal to or less than ninety seven percent (97%) 98% of the product of the Closing Last Reported Sale Price of the Common Stock and the applicable Conversion Rate. Upon receipt of At such evidencetime, the Company shall instruct the Bid Solicitation Agent to determine the Trading Price of the Notes beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of the Securities for each Notes is greater than or equal to 98% of the five (5) successive Trading Days immediately after the Company receives such evidence and on each Trading Day thereafter until the first Trading Day on which the Trading Price Condition is no longer satisfied. For purposes of this paragraph, the “Conversion Value” per $1,000 principal amount of Securities, on a given Trading Day, means the product of the Closing Last Reported Sale Price on such Trading Day of the Common Stock and the applicable Conversion Rate. Whenever the Notes shall become convertible pursuant to this Section 10.01(2), the Company shall notify all Noteholders, the Trustee and the Conversion Rate in effect Agent promptly and, simultaneously with providing such notice, the Company shall issue a press release containing the relevant information and make this information available on such Trading Day.its website;

Appears in 1 contract

Samples: Exhibit (Gaylord Entertainment Co /De)

Conversion Upon Satisfaction of Trading Price Condition. Prior to the Maturity Date or earlier Redemption, Purchase at Holder’s Option or Repurchase Upon Fundamental Change, the Securities The Notes may be surrendered for conversion into cash and, if applicable, or cash and shares of Common Stock (if applicable) during the five (5) consecutive Business Days immediately after any five (5) consecutive Trading Day period (such five (5) consecutive Trading Day period, the “Note Measurement Period”) in which the average Trading Price per $1,000 principal amount of the Securities Notes for each such Trading Day was equal to or less than ninety seven eight percent (9798%) of the average Conversion Value for such Trading Day during the Note Measurement Period (such condition, the “Trading Price Condition”). The Bid Solicitation Agent shall not have any obligation to determine the Trading Price unless the Company has requested such determination, and the Company shall have no obligation to make such request unless a Holder of at least one million dollars ($1,000,000) in aggregate principal amount of the Securities provides the Company with reasonable written evidence that the Trading Price per $1,000 principal amount of the Securities Notes would be equal to or less than ninety seven eight percent (9798%) of the product of the Closing Sale Price and the Conversion RateValue. Upon receipt of such evidence, the Company shall instruct the Bid Solicitation Agent to determine the Trading Price per $1,000 principal amount of the Securities for each of Notes on the five (5) successive next Trading Days Day immediately after the Company receives such written evidence and on each Trading Day thereafter until the first Trading Day on which the Trading Price Condition is no longer satisfied. If the Company does not so instruct the Bid Solicitation Agent after a Holder provides the Company with reasonable written evidence that the Trading Price per $1,000 principal amount of Notes would be equal to or less than 98% of the product of the Closing Sale Price per share of Common Stock and the Conversion Rate, the Trading Price per $1,000 principal amount of Notes shall be deemed to be less than 98% of the product of the Closing Sale Price per share of Common Stock and Conversion Rate in effect on that Trading Day on each Trading Day that the Company fails to do so. For purposes of this paragraph, the “Conversion Value” per $1,000 principal amount of Securities, Notes on a given Trading Day, Day means the product of the Closing Sale Price of the Common Stock on such Trading Day and the Conversion Rate in effect on such Trading Day.

Appears in 1 contract

Samples: First Supplemental Indenture (Epicor Software Corp)

Conversion Upon Satisfaction of Trading Price Condition. Prior to the Maturity Date or earlier Redemption, Purchase at Holder’s Option or Repurchase Upon Fundamental Change, the Securities A holder may be surrendered surrender any of its notes for conversion into cash and, if applicable, shares of Common Stock during the five (5) consecutive Business Days business days immediately after following any five (5) consecutive Trading Day five-consecutive-trading-day period (such five (5) consecutive Trading Day period, the “Note Measurement Period”) in which the average Trading Price trading price per $1,000 principal amount of the Securities notes (as determined following a request by a holder of the notes in accordance with the procedures described below) for each day of that period was equal to or less than ninety seven percent (97%) 98% of the average Conversion Value during product of the Note Measurement Period (closing sale price of our common stock and the applicable conversion rate of the notes on each such condition, the “Trading Price Condition”)day. The Bid Solicitation Agent "trading price" of the notes on any date of determination means the average of the secondary market bid quotations obtained by the bid solicitation agent for $5.0 million aggregate principal amount of the notes at approximately 3:30 p.m., New York City time, on the determination date from three independent nationally recognized securities dealers we select, provided that if: • three such bids cannot reasonably be obtained by the bid solicitation agent, but two such bids are obtained, then the average of the two bids shall not be used, and • only one such bid can reasonably be obtained by the bid solicitation agent, that one bid shall be used; 5 provided further if no bids are received, then for purposes of determining whether the trading price condition has been met the trading price per $1,000 principal amount of the notes will be deemed to be less than 98% of the product of the closing sale price of our common stock and the applicable conversion rate of the notes on that day. The trustee will have any no obligation to determine the Trading Price trading price of the notes as described in this section unless the Company has we have requested such determination, ; and the Company we shall have no obligation to make such request unless a Holder of at least one million dollars ($1,000,000) in aggregate principal amount of the Securities holder provides the Company us with reasonable evidence that the Trading Price trading price per $1,000 principal amount of the Securities notes would be equal to or less than ninety seven percent (97%) 98% of the product of the Closing Sale Price closing sale price of our common stock and the Conversion Rateapplicable conversion rate of the notes on that day. Upon receipt of At such evidencetime, the Company shall we will instruct the Bid Solicitation Agent trustee to determine the Trading Price trading price of the notes beginning on the next trading day and on each successive trading day until the trading price per $1,000 principal amount of the Securities for each notes is greater than or equal to 98% of the five (5) successive Trading Days immediately after the Company receives such evidence and on each Trading Day thereafter until the first Trading Day on which the Trading Price Condition is no longer satisfied. For purposes of this paragraph, the “Conversion Value” per $1,000 principal amount of Securities, on a given Trading Day, means the product of the Closing Sale Price on such Trading Day closing price of our common stock and the Conversion Rate in effect on such Trading Dayapplicable conversion rate of the notes.

Appears in 1 contract

Samples: Loan and Security Agreement (Spartan Stores Inc)

Conversion Upon Satisfaction of Trading Price Condition. Prior to the Maturity Date or earlier Redemption, Purchase at Holder’s Option or Repurchase Upon Fundamental Change, the The Securities may be surrendered for conversion into cash, ADSs or a combination of cash and, if applicable, shares of Common Stock and ADSs -44- during the five (5) consecutive Business Days immediately after any five (5) consecutive Trading Day period (such five (5) consecutive Trading Day period, the “Note Measurement Period”"NOTE MEASUREMENT PERIOD") in which the average Trading Price per $1,000 principal amount of the Securities was equal to or less than ninety seven percent (97%) of the average Conversion Value (as defined below) during the Note Measurement Period (such condition, the “Trading Price Condition”"TRADING PRICE CONDITION"). The Bid Solicitation Agent shall not have any obligation to determine the Trading Price unless the Company has requested such determinationdetermination in writing, and the Company shall have no obligation to make such request unless a Holder of at least one million dollars ($1,000,000) in aggregate principal amount of the Securities provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Securities would be equal to or less than ninety seven percent (97%) of the product of the Closing Sale Price and the Conversion Rate. Upon receipt of such evidence, the Company shall instruct the Bid Solicitation Agent in writing to determine the Trading Price per $1,000 principal amount of the Securities for each of the five (5) successive Trading Days immediately after the Company receives such evidence and on each Trading Day thereafter until the first Trading Day on which the Trading Price Condition is no longer satisfied. For purposes of this paragraph, the “Conversion Value” "CONVERSION VALUE" per $1,000 principal amount of Securities, on a given Trading Day, means the product of the Closing Sale Price on such Trading Day and the Conversion Rate in effect on such Trading Day.

Appears in 1 contract

Samples: Indenture (Suntech Power Holdings Co., Ltd.)

Conversion Upon Satisfaction of Trading Price Condition. Prior to the Maturity Date or earlier Redemption, Purchase at Holder’s Option or Repurchase Upon Fundamental Change, the The Securities may be surrendered for conversion into cash, ADSs or a combination of cash and, if applicable, shares of Common Stock and ADSs during the five (5) consecutive Business Days immediately after any five (5) consecutive Trading Day period (such five (5) consecutive Trading Day period, the “Note Measurement Period”"NOTE MEASUREMENT PERIOD") in which the average Trading Price per $US$1,000 principal amount of the Securities was equal to or less than ninety ninety-seven percent (97%) of the average Conversion Value (as defined below) during the Note Measurement Period (such condition, the “Trading Price Condition”"TRADING PRICE CONDITION"). The Bid Solicitation Agent shall not have any obligation to determine the Trading Price unless the Company has requested such determinationdetermination in writing, and the Company shall have no obligation to make such request unless a Holder of at least one million dollars ($1,000,000) in aggregate principal amount of the Securities provides the Company with reasonable evidence that the Trading Price per $US$1,000 principal amount of the Securities would be equal to or less than ninety ninety-seven percent (97%) of the product of the Closing Sale Price and the Conversion Rate. Upon receipt of such evidence, the Company shall instruct the Bid Solicitation Agent in writing to determine the Trading Price per $US$1,000 principal amount of the Securities for each of the five (5) successive Trading Days immediately after the Company receives such evidence and on each Trading Day thereafter until the first Trading Day on which the Trading Price Condition is no longer satisfied. For purposes of this paragraph, the “Conversion Value” "CONVERSION VALUE" per $US$1,000 principal amount of Securities, on a given Trading Day, means the product of the Closing Sale Price on such Trading Day and the Conversion Rate in effect on such Trading Day.

Appears in 1 contract

Samples: Indenture (Yingli Green Energy Holding Co LTD)

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