Common use of Exercise of Option After a Dissolution Event Distribution Clause in Contracts

Exercise of Option After a Dissolution Event Distribution. To exercise its conversion termination option after a Dissolution Event Distribution, the Company shall issue a press release for publication on the Dow Xxxxx News Service or on a comparable news service announcing the Conversion Termination Date of the Securities. Such press release must be issued prior to the opening of business on the second Trading Day after a period in which the conditions of Section 14.11(a) have been satisfied, but in no event prior to _______ __, 2001. Such press release shall state that the Company has elected to exercise its right to terminate the conversion privilege, specify the Conversion Termination Date of the Securities (as determined in the manner set forth below) and provide the Conversion Price and the Closing Price of the Common Stock, in each case as of the close of business on the Trading Day next preceding the date of the press release. Additionally, the Company shall cause a notice of the termination of conversion rights (a "Notice of Conversion Termination") to be given by first-class mail to each Holder of Securities, the Trustee (and the Conversion Agent if the Trustee is not then serving as the Conversion Agent) not more than four Business Days after the Company issues such press release. The Notice of Conversion Termination shall state, as appropriate: (i) the Conversion Termination Date of the Securities; (ii) the Conversion Price of the Securities and the Closing Price of the Common Stock, in each case as of the close of business on the Trading Day next preceding the date of the Notice of Conversion Termination; (iii) the place or places at which a Notice of Conversion Request with respect to Securities may be given to the Conversion Agent in accordance with Section 14.02 prior to the Conversion Termination Date of the Securities; and (iv) such other information or instructions as the Company deems necessary or advisable to enable each Holder to exercise its conversion right hereunder. Notice of Conversion Termination shall be deemed to have been given on the day that such notice is first mailed by first-class mail, postage prepaid, to each Holder of Securities at the address of such Holder appearing in the Securities Register (whether or not such Holder receives the Notice of Conversion Termination). No defect in the Notice of Conversion Termination or in the mailing thereof with respect to any Securities shall affect the validity of the Company's exercise of its conversion termination option if the press release referred to above shall have been issued.

Appears in 1 contract

Samples: Guaranty Capital Trust I

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Exercise of Option After a Dissolution Event Distribution. To exercise its conversion termination option after a Dissolution Event Distribution, the Company shall issue a press release for publication on the Dow Xxxxx News Service or on a comparable news service announcing the Conversion Termination Date of the Securities. Such press release must be issued prior to the opening of business on the second Trading Day after a period in which the conditions of Section 14.11(a) have been satisfied, but in no event prior to _______ __January 15, 20012004. Such press release shall state that the Company has elected to exercise its right to terminate the conversion privilege, specify the Conversion Termination Date of the Securities (as determined in the manner set forth below) and provide the Conversion Price and the Closing Price of the Common Stock, in each case as of the close of business on the Trading Day next preceding the date of the press release. Additionally, the Company shall cause a notice of the termination of conversion rights (a "Notice of Conversion Termination") to be given by first-class mail to each Holder of Securities, the Trustee (and the Conversion Agent if the Trustee is not then serving as the Conversion Agent) not more than four Business Days after the Company issues such press release. The Notice of Conversion Termination shall state, as appropriate: (i) the Conversion Termination Date of the Securities; (ii) the Conversion Price of the Securities and the Closing Price of the Common Stock, in each case as of the close of business on the Trading Day next preceding the date of the Notice of Conversion Termination; (iii) the place or places at which a Notice of Conversion Request with respect to Securities may be given to the Conversion Agent in accordance with Section 14.02 prior to the Conversion Termination Date of the Securities; and (iv) such other information or instructions as the Company deems necessary or advisable to enable each Holder to exercise its conversion right hereunder. Notice of Conversion Termination shall be deemed to have been given on the day that such notice is first mailed by first-class mail, postage prepaid, to each Holder of Securities at the address of such Holder appearing in the Securities Register (whether or not such Holder receives the Notice of Conversion Termination). No defect in the Notice of Conversion Termination or in the mailing thereof with respect to any Securities shall affect the validity of the Company's exercise of its conversion termination option if the press release referred to above shall have been issued.

Appears in 1 contract

Samples: Commonwealth Bankshares Inc

Exercise of Option After a Dissolution Event Distribution. To exercise its conversion termination expiration option after a Dissolution Event Distribution, the Company shall issue a press release for publication on the Dow Xxxxx News Jonex Xxxs Service or on a comparable news service announcing the Conversion Termination Date of the Securities. Such press release must be issued prior to the opening of business on the second Trading Day after a period in which the conditions of in Section 14.11(a1311(a) have been satisfiedmet, but in no event prior to __________ ___, 20011999. Such press release shall state that the Company has elected to exercise its right to terminate the conversion privilege, specify the Conversion Termination Date of the Securities (as determined in the manner set forth below) and provide the Conversion Price conversion price and the Closing Price of the Common Stock, in each case as of the close of business on the Trading Day next preceding the date of the press release. Additionally, the Company shall cause a notice of the termination expiration of conversion rights (a "Notice of Conversion Termination") to be given by first-class mail to each Holder the Holders of Securities, the Trustee (and the Conversion Agent if the Trustee is not then serving as the Conversion Agent) not more than four Business Days after the Company issues such the press release. The Notice of Conversion Termination shall state, as appropriate: (i) the Conversion Termination Date of the Securities; (ii) the Conversion Price conversion price of the Securities and the Closing Price of the Common Stock, in each case as of the close of business on the Trading Day next preceding the date of the Notice of Conversion Termination; (iii) the place or places at which a Notice of Conversion Request conversion notice with respect to Securities may be given to - 109 - 120 the Conversion Agent in accordance with Section 14.02 1302 prior to the Conversion Termination Date of the Securities; and (iv) such other information or instructions as the Company deems necessary or advisable to enable each a Holder to exercise its conversion right hereunder. Notice of Conversion Termination shall be deemed to have been given on the day that such notice is first mailed by first-class mail, postage prepaid, to each Holder of Securities at the address of such the Holder appearing in the Securities Security Register (whether or not such the Holder receives the Notice of Conversion Termination). No defect in the Notice of Conversion Termination or in the mailing thereof with respect to any Securities shall affect the validity of the Company's exercise of its conversion termination expiration option if the press release referred to above shall have been issued.

Appears in 1 contract

Samples: Indenture (Finova Finance Trust)

Exercise of Option After a Dissolution Event Distribution. To exercise its conversion termination option after a Dissolution Event Distribution, the Company shall issue a press release for publication on the Dow Xxxxx News Service or on a comparable news service announcing the Conversion Termination Date of the Securities. Such press release must be issued prior to the opening of business on the second Trading Day after a period in which the conditions of Section 14.11(a) have been satisfied, but in no event prior to _______ ___, 20012006. Such press release shall state that the Company has elected to exercise its right to terminate the conversion privilege, specify the Conversion Termination Date of the Securities (as determined in the manner set forth below) and provide the Conversion Price and the Closing Price of the Common Stock, in each case as of the close of business on the Trading Day next preceding the date of the press release. Additionally, the Company shall cause a notice of the termination of conversion rights (a "Notice of Conversion Termination") to be given by first-class mail to each Holder of Securities, the Trustee (and the Conversion Agent if the Trustee is not then serving as the Conversion Agent) not more than four Business Days after the Company issues such press release. The Notice of Conversion Termination shall state, as appropriate: (i) the Conversion Termination Date of the Securities; (ii) the Conversion Price of the Securities and the Closing Price of the Common Stock, in each case as of the close of business on the Trading Day next preceding the date of the Notice of Conversion Termination; (iii) the place or places at which a Notice of Conversion Request with respect to Securities may be given to the Conversion Agent in accordance with Section 14.02 prior to the Conversion Termination Date of the Securities; and (iv) such other information or instructions as the Company deems necessary or advisable to enable each Holder to exercise its conversion right hereunder. Notice of Conversion Termination shall be deemed to have been given on the day that such notice is first mailed by first-class mail, postage prepaid, to each Holder of Securities at the address of such Holder appearing in the Securities Register (whether or not such Holder receives the Notice of Conversion Termination). No defect in the Notice of Conversion Termination or in the mailing thereof with respect to any Securities shall affect the validity of the Company's exercise of its conversion termination option if the press release referred to above shall have been issued.

Appears in 1 contract

Samples: Commonwealth Bankshares Inc

Exercise of Option After a Dissolution Event Distribution. To exercise its conversion termination expiration option after a Dissolution Event Distribution, the Company shall issue a press release for publication on the Dow Xxxxx Jones News Service or on a comparable news service announcing the Conversion Convxxxxxn Termination Date of the Securities. Such press release must be issued prior to the opening of business on the second Trading Day after a period in which the conditions of Section 14.11(a17.11(a) have been satisfiedmet, but in no event prior to _______ __October 31, 2001. Such press release shall state that the Company has elected to exercise its right to terminate the conversion privilege, specify the Conversion Termination Date of the Securities (as determined in the manner set forth below) and provide the Conversion Price and the Closing Price of the Common Stock, in each case as of the close of business on the Trading Day next preceding the date of the press release. Additionally, the Company shall cause a notice of the termination expiration of conversion rights (a "Notice of Conversion Termination") to be given by first-class mail to each Holder the holder of Securities, the Trustee (and the Conversion Agent if the Trustee is not then serving as the Conversion Agent) not more than four Business Days after the Company issues such the press release. The Notice of Conversion Termination shall state, as appropriate: (i) the Conversion Termination Date of the Securities; (ii) the Conversion Price of the Securities and the Closing Price of the Common Stock, in each case as of the close of business on the Trading Day next preceding the date of the Notice of Conversion Termination; (iii) the place or places at which a Notice of Conversion Request conversion notice with respect to Securities may be given to the Conversion Agent in accordance with Section 14.02 17.2 prior to the Conversion Termination Date of the Securities; and (iv) such other information or instructions as the Company deems necessary or advisable to enable each Holder Securityholder to exercise its conversion right hereunder. Notice of Conversion Termination shall be deemed to have been given on the day that such notice is first mailed by first-class mail, postage prepaid, to each Holder holder of Securities at the address of such Holder the holder appearing in the Securities Security Register (whether or not such Holder the Securityholder receives the Notice of Conversion Termination). No defect in the Notice of Conversion Termination or in the mailing thereof with respect to any Securities shall affect the validity of the Company's exercise of its conversion termination expiration option if the press release referred to above shall have been issued.

Appears in 1 contract

Samples: Indenture (New York Bancorp Capital Trust)

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Exercise of Option After a Dissolution Event Distribution. To exercise its conversion termination expiration option after a Dissolution Event Distribution, the Company shall issue a press release for publication on the Dow Xxxxx News Service or on a comparable news service announcing the Conversion Termination Date of the Securities. Such press release must be issued prior to the opening of business on the second Trading Day after a period in which the conditions of Section 14.11(a17.11(a) have been satisfiedmet, but in no event prior to _______ __, 2001___________. Such press release shall state that the Company has elected to exercise its right to terminate the conversion privilege, specify the Conversion Termination Date of the Securities (as determined in the manner set forth below) and provide the Conversion Price and the Closing Price of the Common Stock, in each case as of the close of business on the Trading Day next preceding the date of the press release. Additionally, the Company shall cause a notice of the termination expiration of conversion rights (a "Notice of Conversion Termination") to be given by first-first- class mail to each Holder the holder of Securities, the Trustee (and the Conversion Agent if the Trustee is not then serving as the Conversion Agent) not more than four Business Days after the Company issues such the press release. The Notice of Conversion Termination shall state, as appropriate: (i) the Conversion Termination Date of the Securities; (ii) the Conversion Price of the Securities and the Closing Price of the Common Stock, in each case as of the close of business on the Trading Day next preceding the date of the Notice of Conversion Termination; (iii) the place or places at which a Notice of Conversion Request conversion notice with respect to Securities may be given to the Conversion Agent in accordance with Section 14.02 17.2 prior to the Conversion Termination Date of the Securities; and (iv) such other information or instructions as the Company deems necessary or advisable to enable each Holder Securityholder to exercise its conversion right hereunder. Notice of Conversion Termination shall be deemed to have been given on the day that such notice is first mailed by first-class mail, postage prepaid, to each Holder holder of Securities at the address of such Holder the holder appearing in the Securities Security Register (whether or not such Holder the Securityholder receives the Notice of Conversion Termination). No defect in the Notice of Conversion Termination or in the mailing thereof with respect to any Securities shall affect the validity of the Company's exercise of its conversion termination expiration option if the press release referred to above shall have been issued.

Appears in 1 contract

Samples: Life Financial Capital Trust

Exercise of Option After a Dissolution Event Distribution. To exercise its conversion termination option after a Dissolution Event Distribution, the Company shall issue a press release for publication on the Dow Xxxxx News Jonex Xxxs Service or on a comparable news service announcing the Conversion Termination Date of the Securities. Such press release must be issued prior to the opening of business on the second Trading Day after a period in which the conditions of in Section 14.11(a1311(a) have been satisfiedmet, but in no event prior to _______ __December 31, 20011999. Such press release shall state that the Company has elected to exercise its right to terminate the conversion privilege, specify the Conversion Termination Date of the Securities (as determined in the manner set forth below) and provide the Conversion Price conversion price and the Closing Price of the Common Stock, in each case as of the close of business on the Trading Day next preceding the date of the press release. Additionally, the Company shall cause a notice of the termination of conversion rights (a "Notice of Conversion Termination") to be given by first-class mail to each Holder the Holders of Securities, the Trustee (and the Conversion Agent if the Trustee is not then serving as the Conversion Agent) not more than four Business Days after the Company issues such the press release. The Notice of Conversion Termination shall state, as appropriate: (i) the Conversion Termination Date of the Securities; (ii) the Conversion Price conversion price of the Securities and the Closing Price of the Common Stock, in each case as of the close of business on the Trading Day next preceding the date of the Notice of Conversion Termination; (iii) that Securities will be convertible until 5:00 p.m. (New York City time) on the Conversion Termination Date of the Securities and the place or places at which a Notice of Conversion Request conversion notice with respect to Securities may be given to the Conversion Agent and where Securities (if not in accordance with Section 14.02 prior to the Conversion Termination Date global book-entry form) may be surrendered for conversion into shares of the SecuritiesCommon Stock; and (iv) such other information or instructions as the Company deems necessary or advisable to enable each a Holder to exercise its conversion right hereunder. Notice of Conversion Termination shall be deemed to have been given on the day that such notice is first mailed by first-class mail, postage prepaid, to each Holder of Securities at the address of such the Holder appearing in the Securities Security Register (whether or not such the Holder receives the Notice of Conversion Termination). No defect in the Notice of Conversion Termination or in the mailing thereof with respect to any Securities shall affect the validity of the Company's exercise of its conversion termination option if with respect to any other Security. As of 5:00 p.m. (New York city time) on the press release referred Con- - 95 - 104 version Termination Date of the Securities, the Securities will be deemed to above shall have been issuedbe non-convertible securities.

Appears in 1 contract

Samples: Finova Finance Trust

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