Payment Upon Conversion. Upon any conversion of any Security, the Company will deliver to Holders in respect of each $1,000 principal amount of Securities being converted a “Settlement Amount” equal to the sum of the Daily Settlement Amounts for each of the 25 Trading Days during the Observation Period.
Payment Upon Conversion. (a) In the event that the Company receives a Holder’s conversion notice, for each $1,000 aggregate principal amount of Securities surrendered for conversion, the Company shall be required to pay to such Holder the aggregate of the Daily Settlement Amounts for each of the 20 consecutive Trading Days during the Cash Settlement Averaging Period (the “Settlement Amount”).
Payment Upon Conversion. (a) In the event that the Company receives notice of conversion on or prior to the day that is twenty (20) days prior to the Maturity of the Notes (the “Final Notice Date”), the following procedures will apply: If the Company chooses to satisfy all or any portion of the Company’s obligation (the “Conversion Obligation”) in cash, the Company will notify the holder through the Trustee of the dollar amount to be satisfied in cash (which must be expressed either as 100% of the Conversion Obligation or as a fixed dollar amount) at any time on or before the date that is two Business Days following the conversion date (the “Cash Settlement Notice Period”). If the Company timely elects to pay cash for any portion of the shares otherwise issuable to such holder, the conversion notice may be retracted by the holder at any time during the two Business Day period beginning on the day after the final day of the Cash Settlement Notice Period (the “Conversion Retraction Period”); no such retraction can be made (and a conversion notice shall be irrevocable) if the Company does not elect to deliver cash in lieu of shares (other than cash in lieu of fractional shares). If the conversion notice has not been retracted, then settlement (in cash and/or shares) will occur on the Business Day following the final day of the twenty (20) Trading Day period beginning on the day after the final day of the Conversion Retraction Period
Payment Upon Conversion. (a) Upon conversion the Company will deliver to Holders in respect of each $1,000 aggregate principal amount of Securities being converted a "SETTLEMENT AMOUNT" consisting of (1) cash equal to the lesser of $1,000 and the Conversion Value, and (2) to the extent the Conversion Value exceeds $1,000 (the "Excess Value") at the Company's option all or a portion of the Excess Value may be paid in either (A) cash equal to the Excess Value or (B) a number of shares equal to the sum of, for each day of the Cash Settlement Period, (i) 10% (or, if a Holder elects to convert its Securities pursuant to Section 10.01(c) and is entitled to Additional Shares pursuant to Section 10.01(d), then 20%) of the Excess Value, divided by (ii) the Closing Sale Price of the Common Stock for such day. The Company will deliver the Settlement Amount to converting Holders on the third Business Day following the date the Settlement Amount is determined. If the Conversion Agent receives a Conversion Notice on or prior to (1) the date on which the Company provides notice of redemption pursuant to Section 3.03 (a "REDEMPTION NOTICE DATE") or (2) the date that is 20 days prior to the Stated Maturity (the "FINAL NOTICE DATE"), then if the Company satisfies all or any portion of its obligation with respect to the Excess Value (the "EXCESS VALUE OBLIGATION") in cash, the Company will notify the Holder through the Trustee of the dollar amount to be satisfied in cash (which must be expressed either as a fixed dollar amount or a fixed percentage of the Excess Value Obligation) at any time on or before the date that is two Business Days following receipt of the Holder's Conversion Notice (the "CASH SETTLEMENT NOTICE PERIOD"). If the Company timely elects to pay cash for any portion of the shares otherwise issuable upon conversion of the Securities, the Holder may retract the Conversion Notice at any time during the two Business Day period following the final day of the Cash Settlement Notice Period (the "CONVERSION RETRACTION PERIOD"). No such retraction can be made (and a Conversion Notice will be irrevocable) if the Company does not elect to deliver cash in lieu of shares (other than cash in lieu of fractional shares). If the Conversion Notice has not been retracted, then settlement (in cash and/or shares) will occur on the Business Day following the final day of the 20 Trading Day period beginning on the day after the final day of the Cash Settlement Period. If a Conversion Notice is received a...
Payment Upon Conversion. Upon conversion of this Debenture into Capital Stock pursuant to Section 5.02, accrued and unpaid Interest shall be paid as provided in Section 5.01(a). In the event for any reason, any payment by or act of the Company or the Holder shall result in payment of Interest which would exceed the limit authorized by or be in violation of the law of the jurisdiction applicable to this Debenture, then the obligation of the Company to pay Interest or perform such act or requirement shall be reduced to the limit authorized under such law, so that in no event shall the Company be obligated to pay any such Interest, perform any such act or be bound by any requirement which would result in the payment of Interest in excess of the limit so authorized. In the event any payment by or act of the Company shall result in the extraction of a rate of Interest in excess of a sum which is lawfully collectible as Interest, then such amount (to the extent of such excess not returned to the Company) shall, without further agreement or notice between or by the Company or the Holder, be deemed applied to the payment of principal, if any, hereunder immediately upon receipt of such excess funds by the Holder, with the same force and effect as though the Company had specifically designated such sums to be so applied to principal and the Holder had agreed to accept such sums as an Interest-free prepayment of this Debenture. If any part of such excess remains after the principal has been paid in full, whether by the provisions of the preceding sentences of this Section 2.02 or otherwise, such excess shall be deemed to be an Interest-free loan from the Company to the Holder, which loan shall be payable immediately upon demand by the Company. The provisions of this Section 2.02 shall control every other provision of this Debenture.
Payment Upon Conversion. (a) Upon conversion of a Holder's Security, the Company shall deliver, through the Conversion Agent, the following to such Holder for each $1,000 principal amount of Securities being converted, subject to the Company's right to elect to pay the Net Share Amount in cash: (1) cash equal to the sum of the Daily Cash Amounts, and (2) shares ("NET SHARES") of Common Stock, if any, with a value equal to the sum of the Daily Share Amounts (the "NET SHARE AMOUNT"), in each case for each of the 15 Trading Days during the related Observation Period. The Company shall deliver the foregoing on the third Trading Day immediately following the last day of the related Observation Period.
Payment Upon Conversion. If at least one of the conditions to conversion pursuant to Section 10.1(b) is satisfied, Holders may convert their Securities and shall be entitled to receive an amount of cash and shares of Common Stock, if any, as follows:
Payment Upon Conversion. (a) Upon any conversion of any Note, the Company shall deliver to converting Holders, in respect of each $1.00 principal amount of Notes being converted, in full satisfaction of the Company’s conversion obligation, a number of shares of Common Stock equal to the applicable Conversion Rate, together with cash in lieu of fractional shares in accordance with Section 14.05(e), subject to Section 14.16, which may result in the delivery of Warrants in lieu of Common Stock under certain circumstances.
Payment Upon Conversion. Upon any conversion of any Security, the Company will deliver to Holders in respect of each $1,000 principal amount of Securities being converted a “Settlement Amount” equal to the sum of the Daily Settlement Amounts for each of the 40 Conversion Payment Trading Days during the Observation Period. The amount of cash payable will be equal to the lesser of the principal amount of the Security being converted and the conversion value of such Security. The Settlement Amount in respect of any Security converted will be delivered to converting Holders on the third Business Day immediately following the last day of the Observation Period for such Security.
Payment Upon Conversion. Subject to certain exceptions set forth in Section 5.03, the Company shall deliver to Holders in respect of each $1,000 principal amount of Securities surrendered for conversion a “Settlement Amount” equal to the sum of the Daily Settlement Amounts for each of the 20 consecutive Trading Days during the applicable Cash Settlement Averaging Period.
