Common use of Determination of Satisfaction of Certain Conversion Triggers Clause in Contracts

Determination of Satisfaction of Certain Conversion Triggers. (a) The Conversion Agent shall, on the Company’s behalf, determine if the Notes are convertible in accordance with Sections 9.1(a) or 9.1(b) and shall notify the Company and the Trustee if the Notes become convertible; provided that the Company shall provide to the Conversion Agent, upon written request, the Closing Sale Price of the Common Stock. Prior to March 15, 2019, the Conversion Agent shall make such determination during the last 30 consecutive Trading Days ending on the last Trading Day of each calendar quarter. Beginning after March 15, 2019, the Conversion Agent shall make such determination on a daily basis. (b) The Conversion Agent will, on behalf of the Company, determine if the Notes are convertible in accordance with Section 9.1(c) and notify the Company and the Trustee if the Notes become convertible; provided, however, that the Conversion Agent shall have no obligation to determine the Trading Price of the Notes unless the Company has requested such determination in writing and the Company shall have no obligation to make such request unless requested in writing to do so by a Holder. Upon request by the Company to the Conversion Agent to determine the Trading Price, the Company shall instruct the Conversion Agent to determine the Trading Price of the Notes beginning on the next succeeding Trading Day and on each successive Trading Day until the Trading Price of the Notes is greater than or equal to 98% of the product of the Closing Sale Price of the Common Stock and the applicable Conversion Rate.

Appears in 2 contracts

Samples: Indenture (PSS World Medical Inc), Indenture (Saks Inc)

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Determination of Satisfaction of Certain Conversion Triggers. (a) The For each calendar quarter, beginning with the calendar quarter commencing after March 31, 2008, the Conversion Agent shall, on behalf of the Company’s behalf, determine if determine, on the first Business Day following the last Trading Day of such calendar quarter, whether the Notes are convertible in accordance with Sections convertible, pursuant to clause (i) of Section 9.1(a) or 9.1(b) and shall ), and, if so, will notify the Company Trustee and the Trustee if the Notes become convertible; provided that the Company shall provide to in writing. Upon written request of the Conversion Agent, upon written requestthe Company shall provide, the Closing Sale Price of the Common Stock. Prior or cause to March 15, 2019be provided to, the Conversion Agent shall make such determination during the last 30 Closing Price per share of Common Stock for the thirty consecutive Trading Days ending on the last Trading Day of each the preceding calendar quarter. Beginning after March 15, 2019, the Conversion Agent shall make such determination on a daily basis. (b) The Conversion Agent will, on behalf of the Company, determine if the Notes are convertible in accordance with Section 9.1(c) and notify the Company and the Trustee if the Notes become convertible; provided, however, that the Conversion Agent shall have no obligation to determine the Trading Price of the Notes and to determine whether the Notes are convertible pursuant to clause (ii) of Section 9.1(a), unless the Company has requested such determination in writing writing; and the Company shall have no obligation to make such request unless requested in writing to do so by a Holder. Upon request by Holder of Notes provides the Company to the Conversion Agent to determine with reasonable evidence that the Trading PricePrice per $1,000 principal amount of Notes would be less than 98% of the product of the Closing Price of the Common Stock and the applicable Conversion Rate. At such time, the Company shall instruct the Conversion Agent to determine the Trading Price of the Notes beginning on the next succeeding Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of the Notes is greater than or equal to 98% of the product of the Closing Sale Price of the Common Stock and the applicable Conversion Rate.

Appears in 2 contracts

Samples: Indenture (Aar Corp), Indenture (Aar Corp)

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Determination of Satisfaction of Certain Conversion Triggers. (a) The For each calendar quarter, beginning with the calendar quarter commencing after March 31, 2006, the Conversion Agent shall, on behalf of the Company’s behalf, determine if determine, on the first Business Day following the last Trading Day of such calendar quarter, whether the Notes are convertible in accordance with Sections convertible, pursuant to clause (i) of Section 9.1(a) or 9.1(b) and shall ), and, if so, will notify the Company Trustee and the Trustee if the Notes become convertible; provided that the Company shall provide to in writing. Upon written request of the Conversion Agent, upon written requestthe Company shall provide, the Closing Sale Price of the Common Stock. Prior or cause to March 15, 2019be provided to, the Conversion Agent shall make such determination during the last 30 Closing Price per share of Common Stock for the thirty consecutive Trading Days ending on the last Trading Day of each the preceding calendar quarter. Beginning after March 15, 2019, the Conversion Agent shall make such determination on a daily basis. (b) The Conversion Agent will, on behalf of the Company, determine if the Notes are convertible in accordance with Section 9.1(c) and notify the Company and the Trustee if the Notes become convertible; provided, however, that the Conversion Agent shall have no obligation to determine the Trading Price of the Notes and to determine whether the Notes are convertible pursuant to clause (ii) of Section 9.1(a), unless the Company has requested such determination in writing writing; and the Company shall have no obligation to make such request unless requested in writing to do so by a Holder. Upon request by Holder of Notes provides the Company to the Conversion Agent to determine with reasonable evidence that the Trading PricePrice per $1,000 principal amount of Notes would be less than 98% of the product of the Closing Price of the Common Stock and the applicable Conversion Rate. At such time, the Company shall instruct the Conversion Agent to determine the Trading Price of the Notes beginning on the next succeeding Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of the Notes is greater than or equal to 98% of the product of the Closing Sale Price of the Common Stock and the applicable Conversion Rate.

Appears in 1 contract

Samples: Indenture (Aar Corp)

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