Interest conversion Clause Samples

Interest conversion. (a) If a Financier elects to Convert its Pro Rata Share of an Interest Conversion Amount on a Quarterly Date by giving a Conversion Notice in accordance with clause 5.4(d), then the number of Shares that the Financier will receive will be determined by dividing: (1) its Pro Rata Share of the Interest Conversion Amount as at the relevant Quarterly Date; by (2) the Current Market Price discounted by the maximum discount permitted by the TSX in accordance with the Listing Rules of the TSX for that Current Market Price. (b) On or as soon as practicable after the relevant Quarterly Date, the Borrower will give a written notice (Interest Conversion Amount Notice) to the Agent specifying the Interest Conversion Amount and the number of Shares to be issued on Conversion of the Interest Conversion Amount, setting out the Borrower’s detailed calculation of the Interest Conversion Amount and the number of Shares to be issued on Conversion of the Interest Conversion Amount. If the Agent disagrees with the Interest Conversion Amount and the number of Shares to be issued on Conversion of the Interest Conversion Amount, it must notify the Borrower within 5 Business Days, and the Borrower must, within 2 Business Days of receiving notice from the Agent, change or amend the Interest Conversion Amount Notice as instructed by the Agent.

Interest conversion. Either Borrower may elect from time to time to convert Prime Rate Loans to Bankers’ Acceptances Advances, or to convert Bankers’ Acceptances Advances to Prime Rate Loans, or to continue Bankers’ Acceptance Advances, by giving the Administrative Agent at least three (3) Business Days’ prior irrevocable notice of such election. Each conversion to a Prime Rate Loan shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof. A form of Conversion/Extension Notice is attached as Schedule 2.

Interest conversion. (a) If a Holder elects to Convert the Interest Conversion Amount on an Interest Payment Date by giving a Conversion Notice in accordance with clause 7.2(b)(l), then the number of Shares the Holder will receive will be determined by dividing: (1) the Interest Conversion Amount as at the relevant Interest Payment Date; by (2) the Current Market Price discounted by the maximum discount permitted by the Exchange in accordance with the Private Placement Policy for that Current Market Price. (b) On or as soon as practicable after the relevant Interest Payment Date, the Agent will give a written notice to MSV and Campbell specifying the Interest Conversion ▇▇▇▇▇▇ and the number of Shares to be issued on Conversion of the Interest Conversion Amount.

Interest conversion. Covad Communications Group, Inc., a Delaware corporation (the "Company"), promises to pay interest on the principal amount of this Note at 6% per annum. The Company shall pay interest and Liquidated Damages, if any, semi-annually on March 15 and September 15, commencing on March 15, 2001, or if any such day is not a Business Day, on the next succeeding Business Day (each an "Interest Payment Date"). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no EXHIBIT A interest has been paid, from the Closing Date; PROVIDED that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; PROVIDED, FURTHER, that the first Interest Payment Date shall be March 15, 2001. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 1% per annum in excess of the rate then in effect; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months. All references in this Note and in the Indenture to "interest" shall be deemed to include any Liquidated Damages that may become payable thereon according to the provisions of the Indenture. In accordance with the terms of the Resale Registration Rights Agreement, dated September 25, 2000, between the Company, Bear ▇▇▇▇▇▇▇ & Co. Inc., ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated, Credit Suisse First Boston Corporation, Deutsche Bank Securities, Inc. and ▇▇▇▇▇▇▇, Sachs & Co. (the "Initial Purchasers"), during the first 90 days following a Registration Default (as defined in the Resale Registration Rights Agreement), the Interest Rate borne by the Notes shall be increased by 0.50% on: (a) March 24, 2001 (the "Effectiveness Target Date"), if the Shelf Registration Statement is not declared effective by the Notes and Exchange Commission prior to or on such date; (b) subject to the exceptions in the Resale Registration Rights Agreement, the day after the fifth Business Day after the Shelf Registra...

Interest conversion. Subject to Section 7.5, on each Interest Payment Date Lender may elect to convert the accrued and unpaid interest then due into Conversion Shares.