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

Conversion Upon Satisfaction of Trading Price Condition. The Securities may be surrendered for conversion into cash or, at 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 eight percent (98%) 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 in writing, and the Company shall have no obligation to make such request unless a Holder 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 eight percent (98%) of the Conversion Value. 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: Diodes Incorporated (Diodes Inc /Del/)

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Conversion Upon Satisfaction of Trading Price Condition. The Securities may be surrendered for conversion into cash orand, at the Company’s optionif applicable, cash and 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 eight five percent (9895%) 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 in writingdetermination, and the Company shall have no obligation to make such request unless a Holder 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 eight five percent (9895%) of the product of the Closing Sale Price and the Conversion ValueRate. 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: Playboy Enterprises Inc

Conversion Upon Satisfaction of Trading Price Condition. The Securities may be surrendered for conversion into cash orcash, at the Company’s option, ADSs or a combination of cash and shares of Common Stock 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 eight seven percent (9897%) 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 determination in writing, and the Company shall have no obligation to make such request unless a Holder 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 eight seven percent (9897%) of the product of the Closing Sale Price and the Conversion ValueRate. 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. The A Holder may surrender its Securities may be surrendered for conversion into cash or, at the Company’s option, cash and 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 eight percent (98%) of the average product of the Last Reported Sale Price of the Common Stock and the applicable Conversion Value (as defined below) 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 in writing, Company; and the Company shall have no obligation to make such request unless a Holder 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 eight percent (98%) of the product of the Last Reported Sale Price of the Common Stock and the applicable Conversion ValueRate. Upon receipt of Promptly after receiving such evidence, the Company shall instruct the Bid Solicitation Agent in writing 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: Veeco Instruments Inc

Conversion Upon Satisfaction of Trading Price Condition. The A Holder may surrender its Securities may be surrendered for conversion into cash or, at the Company’s option, cash and 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”"MEASUREMENT PERIOD") in which the average Trading Price per $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 eight percent (98%) % of the average product of the Last Reported Sale Price of the Common Stock and the Applicable Conversion Value (as defined below) during the Note Measurement Period (Rate for such conditionTrading Day. In connection with any conversion 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 in writing, Company; and the Company shall have no obligation to make such request unless a Holder 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 eight percent (98%) % of the product of the Last Reported Sale Price of the Common Stock and the Applicable Conversion ValueRate. Upon receipt of Promptly after receiving such evidence, the Company shall instruct the Bid Solicitation Agent in writing 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 $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 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 for such Trading Day.. Solely for purposes of determining the satisfaction of the Trading Price condition described above, the Applicable Conversion Rate on any day will equal to: Base Conversion Rate + (Daily VWAP - Base Conversion Price) / Daily VWAP x Incremental Share Factor

Appears in 1 contract

Samples: Indenture (L-1 Identity Solutions, Inc.)

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Conversion Upon Satisfaction of Trading Price Condition. The Prior to December 1, 2011, a Holder may surrender its Securities may be surrendered for conversion into cash or, at the Company’s option, cash and 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 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 eight percent (98%) 95% of the average product of the Last Reported Sale Price of the Common Stock and the applicable Conversion Value (as defined below) during the Note Measurement Period (Rate for such conditionTrading Day. 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 unless requested by the Company has requested such determination in writing, Company; and the Company shall have no obligation to make such request unless a Holder 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 eight percent (98%) 95% of the product of the Last Reported Sale Price of the Common Stock and the applicable Conversion ValueRate. Upon receipt of Promptly after receiving such evidence, the Company shall instruct the Bid Solicitation Agent in writing 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 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 95% 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 of the Common Stock and the applicable Conversion Rate. Solely for purposes of determining the satisfaction of the Trading Price condition described above, the Applicable Conversion Rate on any day will be determined as if the Applicable Stock Price were the Last Reported Sale Price on such Trading Day and the Conversion Rate in effect on such Trading Dayday.

Appears in 1 contract

Samples: Indenture (Goodrich Petroleum Corp)

Conversion Upon Satisfaction of Trading Price Condition. The Following the Restriction Release Date, a Holder may surrender all or a portion of its Securities may be surrendered for conversion into cash or, at the Company’s option, cash and 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 in principal amount of a Security, 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 in the Measurement Period was equal to or less than ninety eight percent (98%) % of the average product of the Last Reported Sale Price of the Common Stock and the applicable Conversion Value (as defined below) 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 unless requested by the Company has requested such determination in writing, Company; and the Company shall have no obligation to make such request unless a Holder 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 eight percent (98%) % of the product of the Last Reported Sale Price of the Common Stock and the applicable Conversion ValueRate. Upon receipt of Promptly after receiving such evidence, the Company shall instruct the Bid Solicitation Agent in writing 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 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 in effect on such Trading DayRate.

Appears in 1 contract

Samples: Eddie Bauer Holdings, Inc.

Conversion Upon Satisfaction of Trading Price Condition. The A Holder may surrender its Securities may be surrendered of either series for conversion into cash or, at the Company’s option, cash and 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 eight percent (98%) % of the average product of the Last Reported Sale Price of the Common Stock and the applicable Conversion Value (as defined below) 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 in writing, Company; and the Company shall have no obligation to make such request unless a Holder 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 eight percent (98%) % of the product of the Last Reported Sale Price of the Common Stock and the applicable Conversion ValueRate. Upon receipt of Promptly after receiving such evidence, the Company shall instruct the Bid Solicitation Agent in writing 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: Purchase (Kyphon Inc)

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