Covenant to Take Certain Actions. Before taking any action which would cause an adjustment to the Conversion Rate such that the Conversion Price per share of Common Stock issuable upon conversion of the Securities would be less than the par value of the Common Stock, the Company shall take all corporate actions that may, in the opinion of its counsel, be necessary so it may validly and legally issue shares of Common Stock at such adjusted Conversion Rate.
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Samples: Indenture (Arbor Realty Trust Inc), Mfa Financial (Mfa Financial, Inc.), Supplemental Indenture (Granite Point Mortgage Trust Inc.)
Covenant to Take Certain Actions. Before taking any action which would cause an adjustment to the Conversion Rate such that the Conversion Price per share of the Common Stock issuable upon conversion of the Securities Notes would be less than the par value of shares of the Common Stock, the Company shall take all corporate actions that may, in the opinion of its counsel, be necessary so it may validly and legally issue shares of the Common Stock at such adjusted Conversion Rate.
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