Common use of Fractions of Shares Clause in Contracts

Fractions of Shares. No fractional share of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price (as hereinafter defined) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day).

Appears in 11 contracts

Samples: Indenture (Avatar Holdings Inc), Indenture (Res Care Inc /Ky/), Indenture (PHP Healthcare Corp)

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Fractions of Shares. No fractional share shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares of Common Stock which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment (rounded to the nearest cent) in respect of such fraction in an amount equal to the same fraction of the Closing Price (as hereinafter defined) at per share of the close of business Common Stock on the day of conversion (or, if such day is not a Trading Day (as hereafter defined)Day, on the Trading Day immediately preceding such day).

Appears in 8 contracts

Samples: Indenture (Bay Apartment Communities Inc), Indenture (Trinet Corporate Realty Trust Inc), Indenture (Apex Mortgage Capital Inc)

Fractions of Shares. No fractional share shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which that shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which that would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price (as hereinafter defined) per share of the Common Stock at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day).

Appears in 8 contracts

Samples: Indenture (Transwitch Corp /De), Indenture (Transwitch Corp /De), Indenture (Transwitch Corp /De)

Fractions of Shares. No fractional share shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price (as hereinafter defined) per share of the Common Stock at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined)Day, on the Trading Day immediately preceding such day)) or, alternatively, the Company shall round up to the next higher whole share.

Appears in 8 contracts

Samples: Indenture (Affymetrix Inc), Indenture (Activision Inc /Ny), Indenture (Human Genome Sciences Inc)

Fractions of Shares. No fractional share of Common Stock shall be issued upon on conversion of SecuritiesSecurities of any series. If more than one Security of the same series shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon on conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon on conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price (as hereinafter defined) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day).

Appears in 4 contracts

Samples: Indenture (Innovative Valve Technologies Inc), Indenture (Pentegra Dental Group Inc), Indenture (American Residential Services Inc)

Fractions of Shares. No fractional share shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price daily closing price per share of Common Stock (as hereinafter definedconsistent with Section 14.4(f) below) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day)conversion.

Appears in 2 contracts

Samples: Indenture (Royal Gold Inc /De/), Indenture (Royal Gold Inc /De/)

Fractions of Shares. No fractional share of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction fractional share in an amount equal to the same such fraction of multiplied by the Closing Price (as hereinafter defined) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day). Section 1304.

Appears in 2 contracts

Samples: Indenture (Converse Inc), Indenture (Converse Inc)

Fractions of Shares. No fractional share shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price market price per share of Common Stock (as hereinafter defineddetermined by the Board of Directors or in any manner prescribed by the Board of Directors) at the close of business on the day prior to the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day)conversion.

Appears in 2 contracts

Samples: Indenture (Healthcare Realty Trust Inc), Indenture (Capstone Capital Corp)

Fractions of Shares. No fractional share shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company Issuer shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price market price (determined as hereinafter definedprovided in the last sentence of paragraph (f) of Section 13.04) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day)conversion.

Appears in 2 contracts

Samples: Indenture (Murphy Oil Corp /De), Indenture (Murphy Oil Corp /De)

Fractions of Shares. No fractional share of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction fractional share in an amount equal to the same such fraction of multiplied by the Closing Price (as hereinafter defined) at the close Close of business Business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day).. For the purposes of this Indenture, "

Appears in 2 contracts

Samples: Indenture (Kent Electronics Corp), Indenture (Kent Electronics Corp)

Fractions of Shares. No fractional share of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of such Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company Issuer shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price (as hereinafter defined) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day).

Appears in 2 contracts

Samples: Senior Subordinated Indenture (Belco Oil & Gas Corp), Senior Subordinated Indenture (Belco Oil & Gas Corp)

Fractions of Shares. No fractional share of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of such Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price (as hereinafter defined) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day).

Appears in 2 contracts

Samples: Indenture (KCS Energy Inc), Indenture (Credence Systems Corp)

Fractions of Shares. No fractional share of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction fractional share in an amount equal to the same such fraction of multiplied by the Closing Price (as hereinafter defined) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day).

Appears in 1 contract

Samples: Indenture (Converse Inc)

Fractions of Shares. No fractional share shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company Issuer shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price market price (determined as hereinafter definedprovided in the last sentence of paragraph (f) of Section 14.04) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day)conversion.

Appears in 1 contract

Samples: Indenture (Murphy Oil Corp /De)

Fractions of Shares. No fractional share shares of Common Stock shall be issued upon the conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price closing price (as hereinafter defineddefined in Section 12.04(g)(i)) per share of Common Stock at the close of business on the Business Day prior to the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day)conversion.

Appears in 1 contract

Samples: Indenture (Loral Space & Communications LTD)

Fractions of Shares. No fractional share of Common Stock Share shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price (as hereinafter defined) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day).

Appears in 1 contract

Samples: Indenture (North American Vaccine Inc)

Fractions of Shares. No fractional share shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price (as hereinafter defined) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day)conversion.

Appears in 1 contract

Samples: Indenture (Sierra Health Services Inc)

Fractions of Shares. No fractional share shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price (as hereinafter defined) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined)Day, on the Trading Day immediately preceding such day).

Appears in 1 contract

Samples: Indenture (First State Bancorporation)

Fractions of Shares. No fractional share shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares of Common Stock which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment (rounded to the nearest cent) in 92 100 respect of such fraction in an amount equal to the same fraction of the Closing Price (as hereinafter defined) at per share of the close of business Common Stock on the day of conversion (or, if such day is not a Trading Day (as hereafter defined)Day, on the Trading Day immediately preceding such day).

Appears in 1 contract

Samples: Indenture (Trinet Corporate Realty Trust Inc)

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Fractions of Shares. No fractional share of Common Stock shall be issued upon optional conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price (as hereinafter defined) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day).

Appears in 1 contract

Samples: Purchase Agreement (World Airways Inc /De/)

Fractions of Shares. No fractional share shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares of Common Stock which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company Partnership shall pay a cash adjustment (rounded to the nearest cent) in respect of such fraction in an amount equal to the same fraction of the Closing Price (as hereinafter defined) at per share of the close of business Common Stock on the day of conversion (or, if such day is not a Trading Day (as hereafter defined)Day, on the Trading Day immediately preceding such day).

Appears in 1 contract

Samples: Indenture (Beacon Properties L P)

Fractions of Shares. No fractional share shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price (as hereinafter defined) per share of the Common Stock at the close of business on the last day prior to the day of conversion (or, if such day is not a Trading Day (as hereafter defined)Day, on the Trading Day immediately preceding such day).

Appears in 1 contract

Samples: Indenture (Integrated Physician Systems Inc)

Fractions of Shares. No fractional share of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction fractional share in an amount equal to the same such fraction of multiplied by the Closing Price (as hereinafter defined) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined)Day, on the Trading Day immediately preceding such day).

Appears in 1 contract

Samples: Indenture (Geotek Communications Inc)

Fractions of Shares. No fractional share shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction fractions in an amount equal to the same fraction of the Closing Price market price (determined as hereinafter definedprovided in the last sentence of paragraph 6 of Section 1504) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day)conversion.

Appears in 1 contract

Samples: Indenture (Atmos Energy Corp)

Fractions of Shares. No fractional share shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price (as hereinafter defined) per share of the Common Stock at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined)Day, on the Trading Day immediately preceding such day).

Appears in 1 contract

Samples: Indenture (Seacor Holdings Inc)

Fractions of Shares. No fractional share of Class A Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of such Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price (as hereinafter defined) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day).

Appears in 1 contract

Samples: Indenture (NCS Healthcare Inc)

Fractions of Shares. No fractional share of Common Stock shall be issued upon conversion of Securities, but, in lieu thereof, the Company shall pay to the Holder so surrendering for conversion a cash adjustment in an amount equal to the same fraction of the "Closing Price" (as defined in Section 1304(h) hereof) as such fractional interest on the date on which the Securities were duly surrendered to the Company for conversion, or, if such day is not a "Trading Day" (as defined in Section 1304(h) hereof), on the next Trading Day. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price (as hereinafter defined) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day).

Appears in 1 contract

Samples: Indenture (Hilb Rogal & Hamilton Co /Va/)

Fractions of Shares. No fractional share shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price market price (determined as hereinafter definedprovided in the last sentence of paragraph 6 of Section 1504) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day)conversion. SECTION 1504.

Appears in 1 contract

Samples: Indenture (Anadarko Petroleum Corp)

Fractions of Shares. No fractional share shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full whole shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price market price (determined as hereinafter definedprovided in the last sentence of paragraph 6 of Section 1504) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day)conversion.

Appears in 1 contract

Samples: Indenture (Remington Oil & Gas Corp)

Fractions of Shares. No fractional share shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the Closing Price market price per share of Common Stock (as hereinafter defineddetermined by the Board of Directors or in any manner prescribed by the Board of Directors) at the close of business on the trading day immediately prior to the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day)conversion.

Appears in 1 contract

Samples: First Supplemental Indenture (Corning Inc /Ny)

Fractions of Shares. No fractional share of Common Stock Shares shall be issued upon conversion of Securities. If more than one Security of a series shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities of such series (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock Share which would otherwise be issuable upon conversion of any Security or Securities (or specified portions portion thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal (computed to the nearest cent) to the same fraction of the Closing Price market price per Common Share (as hereinafter defineddetermined by the Board of Directors or in any manner prescribed by the Board of Directors) at the close of business on the day of conversion (or, if such day is not a Trading Day (as hereafter defined), on the Trading Day immediately preceding such day)conversion.

Appears in 1 contract

Samples: Indenture (Liquid Media Group Ltd.)

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