Common use of Rounding Down and Notice of Adjustment to the Conversion Price and the Conversion Shares Offer Price Clause in Contracts

Rounding Down and Notice of Adjustment to the Conversion Price and the Conversion Shares Offer Price. (a) On any adjustment to the Conversion Price and/or the Conversion Shares Offer Price as provided under this Article III, if the resultant Conversion Price and Conversion Shares Offer Price is a number with more decimal places than the initial Conversion Price or Conversion Shares Offer Price, as the case may be, that number shall be rounded to the same number of decimal places as the initial Conversion Price or Conversion Shares Offer Price, as the case may be. No adjustment shall be made to either of the Prices where such adjustment (rounded down if applicable) would be less than 1% of the relevant Price then in effect. Any adjustment not required to be made, and/or any amount by which the relevant Price has been rounded down, shall be carried forward and taken into account in any subsequent adjustment, and such subsequent adjustment shall be made on the basis that the adjustment not required to be made had been made at the relevant time and/or, as the case may be, that the relevant rounding down had not been made.

Appears in 4 contracts

Samples: Seventh Supplemental Indenture (Barclays PLC), Supplemental Indenture (Barclays PLC), Indenture (Barclays PLC)

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Rounding Down and Notice of Adjustment to the Conversion Price and the Conversion Shares Offer Price. (a) On any adjustment to the Conversion Price and/or the Conversion Shares Offer Price as provided under this Article IIIadjustment, if the resultant Conversion Price and Conversion Shares Offer Price is Price, if a number with that is of more decimal places than the initial Conversion Price or Conversion Shares Offer Price, as the case may be, that number shall be rounded to the same number of such decimal places as the initial Conversion Price or Conversion Shares Offer Price, as the case may beplace. No adjustment shall be made to either of the Prices where such adjustment (rounded down if applicable) would be less than 1% of the relevant Price then in effect. Any adjustment not required to be made, and/or any amount by which the relevant Price has been rounded down, shall be carried forward and taken into account in any subsequent adjustment, and such subsequent adjustment shall be made on the basis that the adjustment not required to be made had been made at the relevant time and/or, as the case may be, that the relevant rounding down had not been made.

Appears in 3 contracts

Samples: Third Supplemental Indenture (Barclays PLC), Fourth Supplemental Indenture (Barclays PLC), Fifth Supplemental Indenture (Barclays PLC)

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Rounding Down and Notice of Adjustment to the Conversion Price and the Conversion Shares Offer Price. (a) On any adjustment to the Conversion Price and/or the Conversion Shares Offer Price as provided under this Article IIIIV, if the resultant Conversion Price and Conversion Shares Offer Price is a number with more decimal places than the initial Conversion Price or Conversion Shares Offer Price, as the case may be, that number shall be rounded to the same number of decimal places as the initial Conversion Price or Conversion Shares Offer Price, as the case may be. No adjustment shall be made to either of the Prices where such adjustment (rounded down if applicable) would be less than 1% of the relevant Price then in effect. Any adjustment not required to be made, and/or any amount by which the relevant Price has been rounded down, shall be carried forward and taken into account in any subsequent adjustment, and such subsequent adjustment shall be made on the basis that the adjustment not required to be made had been made at the relevant time and/or, as the case may be, that the relevant rounding down had not been made.

Appears in 1 contract

Samples: Indenture (Barclays PLC)

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