Common use of Increase in the Exchange Rate Clause in Contracts

Increase in the Exchange Rate. If a Make-Whole Fundamental Change occurs and a Holder elects to exchange its Securities in connection with such Make-Whole Fundamental Change, the Company shall, under certain circumstances, increase the Exchange Rate for the Securities so surrendered for exchange by a number of additional Common Shares (the “Additional Shares”), as described in this Section 4.06. An exchange of Securities shall be deemed for these purposes to be “in connection with” a Make-Whole Fundamental Change if the relevant Exchange Notice is received by the Exchange Agent during the period from, and including, the Effective Date of the Make-Whole Fundamental Change up to, and including, the Close of Business on the Business Day immediately prior to the related Fundamental Change Purchase Date or, if such Make-Whole Fundamental Change is not a Fundamental Change, the 35th Business Day immediately following the Effective Date for such Make-Whole Fundamental Change.

Appears in 3 contracts

Samples: Fourth Supplemental Indenture (PennyMac Mortgage Investment Trust), Third Supplemental Indenture (PennyMac Mortgage Investment Trust), First Supplemental Indenture (PennyMac Mortgage Investment Trust)

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Increase in the Exchange Rate. If a Make-Whole Make‑Whole Fundamental Change occurs and a Holder elects to exchange its Securities in connection with such Make-Whole Make‑Whole Fundamental Change, the Company shall, under certain circumstances, increase the Exchange Rate for the Securities so surrendered for exchange by a number of additional Common Shares (the “Additional Shares”), as described in this Section 4.06. An exchange of Securities shall be deemed for these purposes to be “in connection with” a Make-Whole Make‑Whole Fundamental Change if the relevant Exchange Notice is received by the Exchange Agent during the period from, and including, the Effective Date of the Make-Whole Make‑Whole Fundamental Change up to, and including, the Close of Business on the Business Day immediately prior to the related Fundamental Change Purchase Date or, if such Make-Whole Make‑Whole Fundamental Change is not a Fundamental Change, the 35th Business Day immediately following the Effective Date for such Make-Whole Make‑Whole Fundamental Change.

Appears in 1 contract

Samples: Second Supplemental Indenture (PennyMac Mortgage Investment Trust)

Increase in the Exchange Rate. If a Make-Whole Fundamental Change occurs and a Holder elects to exchange its Securities Notes in connection with such Make-Whole Fundamental Change, the Company Issuer shall, under certain circumstances, increase the Exchange Rate for the Securities Notes so surrendered for exchange by a number of additional shares of Common Shares Stock (the “Additional Shares”), as described in this Section 4.0613.06. An exchange of Securities Notes shall be deemed for these purposes to be “in connection with” a Make-Whole Fundamental Change if the relevant Exchange Notice is received by the Exchange Agent during the period from, and including, the Effective Date of the Make-Whole Fundamental Change up to, and including, the Close of Business on the Business Day immediately prior to the related Fundamental Change Purchase Repurchase Date or, if such Make-Whole Fundamental Change is not a Fundamental Change, the 35th Business Day immediately following the Effective Date for such Make-Whole Fundamental Change.

Appears in 1 contract

Samples: Indenture (Innovative Industrial Properties Inc)

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Increase in the Exchange Rate. If a Make-Whole Fundamental Change occurs and a Holder elects to exchange its Securities Notes in connection with such Make-Whole Fundamental Change, then the Company shall, under certain circumstancesto the extent provided herein, increase the Exchange Rate for the Securities Notes so surrendered for exchange by a number of additional Common Shares ADSs (the “Additional Shares”), as described in this Section 4.06. An exchange of Securities Notes shall be deemed for these purposes to be “in connection with” a Make-Whole Fundamental Change if the relevant Exchange Notice is received by the Exchange Agent during the period from, and including, the Effective Date of the Make-Whole Fundamental Change up to, and including, the Close of Business on the second Business Day immediately prior to the related Fundamental Change Purchase Date or, if such Make-Whole Fundamental Change is not also a Fundamental Change, the 35th Business Day immediately following the Effective Date for such Make-Whole Fundamental Change.

Appears in 1 contract

Samples: Indenture (Trinity Biotech PLC)

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